The Trustees present their annual 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 note 1 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)".
The objects of the charity laid down in the Memorandum and Articles of Association are, for the benefit of the public:
To advance the Christian faith in accordance with the statement of beliefs;
To relieve sickness and financial hardship and to promote and preserve good health; and
To advance education
in such ways and in such parts of the United Kingdom or the world as the Trustees from time to time may think fit.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The core activities undertaken to further the objects of the charity are:
Conducting in meetings in our physical locations Cambridge, Bury St Edmunds, Colchester and
Fordham (micro-site) as well as online including into UK prisons;
Organising activities and groups that fulfil the mission of C3 Church, to reach and shape a generation with the message and cause of Christ;
Safeguarding procedures associated with children's and youth activities; and
Working closely with other like-minded organisations.
These activities have been reviewed to ensure they continue to reflect our aims and they have remained unchanged since the last annual report of the Trustees.
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the charity continues and that the appropriate training is arranged. It is the policy of the charity that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
The Trustees and Leadership Team were encouraged by healthy growth and engagement and a number of achievements throughout 2024.
Some of the highlights include:
Baptisms
The highest number of baptisms in any given year in dedicated services celebrated and attended by high numbers of the congregation.
Christmas and Easter
An intentional investment into Christmas and Easter services which allowed us to offer opportunity for many people to join in amongst all of our communities, especially those who do not ordinarily attend a church. All services and performances were attended and enjoyed by high numbers.
Leadership Development
We continue to invest into strong leadership development and training. This year we had our highest attendance in our C3 Academy. We also continue to be the main host for the Global Leadership Summit and welcome local businesses and organisations to attend the impactful one day leadership training.
Community activities
Our community and social action work continues to go from strength to strength. This year we saw the launch of our Community Market at our central location in Cambridge and the rolling out of the same model in our other locations. We also have nurtured strong national partnerships with organisations aligned to the work of C3 Impact.
Racial Unity
We celebrate our diverse congregation and have intentionally looked at ways we can ensure our congregation is not just multi-cultural but inter-cultural, where everyone feels welcome and is able to integrate into the life of the church. This is an area we intend to focus on specifically in 2025.
Generosity
We are so encouraged and humbled by the generosity of our congregation. This generosity has been found in extraordinary levels of giving to our bi-annual vision offerings, together with an unwavering amount of individuals offering their time and talents to fill key volunteer roles which lead to the success of the church. This year we engaged 470 volunteers.
We are also grateful for the generosity through grant funding during 2024 primarily to support the work of C3 Impact from the following: Cambridge City Council; The Co-op Local Community Fund; Colchester Borough Council; Colchester Borough Homes; Colchester County Council; Acts 435; Essex Association of Local Councils; Essex County Council; Neighbourly; Essex Community Foundation; John Lewis; Feeding Britian; Munch Club and Love Your Neighbour/Church Revitalisation Trust.
Growth
Engagement with both in-person and online meetings and events has increased with signs of growth in all of our locations. Attendance is consistent and engagement is high. In early 2024, after significant endeavors by the team, planning permission for a permanent home in Bury St Edmunds was refused yet we were pleased to still see growth within the congregation. We are committed to finding the right and appropriate building for this location . As part of our growth strategy, we also launched our first micro-site in Fordham.
We have also witnessed an extraordinary level of growth in our Kids Church in all of our locations and are pleased to welcome so many new families.
Activities and Initiatives
There continues to be much that goes on in the church outside of Sunday services and these include existing and new initiatives such as :
The above activities and initiatives would not be able to take place without the generous giving through tithes, offerings and other donations of the C3 congregation and community.
UK Charities and Connections
As with last year we have continued to develop and strengthen very positive relationships with a number of national charities and groups that are making significant impact on various sectors of society. These include:
Isaiah 61 - We work have worked with them in their vision to inspire, equip and support churches to embed sharing Jesus into their culture, introducing their initiatives into our congregation and promoting evangelism within our culture
Trussell Trust - An umbrella organisation for the many Foodbanks in the UK. As one of the founding organisations of the Cambridge City Foodbank we continue to be involved in particular acting as a distribution centre.
Hope into Action - We continued to work with Hope into Action having partnered with them on two houses in the city.
Transforming Lives for Good - We established a partnership with Transforming Lives for Good working into local schools to bring hope and a future to struggling children.
Acts 435 - We have been able to secure a number of donations to help those with specific needs who did not have the resources themselves.
Stewardship Services - Stewardship continue to provide us with a mortgage for our building of the C3 Centre in Cambridge and we continue to have a very positive relationship with them. The C3 Centre has been instrumental in assisting us to expand our activities and community outreach.
Church Networks - We connect with Ground Level, Assemblies of God UK, The European Learning Community, Global Leadership Network, Mountain Springs Church Colorado, Jubilee Church and Soul Church.
Additionally, we have sought to keep a global perspective in working with
Support of two couples in their mission endeavours supporting church planting and discipleship with people in challenging contexts.
Open Doors – supporting persecuted Christians across the world
Compassion UK
Love Moldova
Samaritans Purse. Primarily through the Shoe Box appeal which runs each Christmas time
Donations to various global aid and relief charities including World Vision and Tearfund
Volunteer team
To continue our activities, we are dependent on volunteers who freely give of their time and skills to ensure the efficient and smooth operation of all that we engage in.
Two Trustees (the ex-officio Trustees) are remunerated as Senior Pastors. All other Trustees are volunteers who give considerable input and expertise to enable C3 to carry out its activities.
We are also extremely grateful for the wisdom and input from out International Advisory Board (IAB) of Kemi Koleoso, Senior Pastor Jubilee Church London, Paul Reid, Emeritus Senior Pastor Christian Fellowship Church Belfast, Jeff Lucas, author, speaker and broadcaster, Colorado, USA.
Future Developments 2025
Having established multisite expressions of C3 in Bury St Edmunds, Cambridge, Colchester and Online, we continue seek to identify other locations in order to broaden the reach of C3’s work. We aim to launch at least one new location in 2025 and work has already started to identify a suitable location.
Further support and investment to enhance the work of C3 Impact in all locations
Continue to deliver relevant content for the congregation and wider community through a range of digital platforms.
Continue to write and produce worship songs through C3 Worship and work towards development and release of an album
The statement of financial activities is set out on page 9 of these financial statements. A summary of the financial results is set out below:
Income generation
The principal source of income comprises tithes and offerings from its congregation. Unrestricted donations and legacies received in the year totaled £2,039,705 (2023 - £1,771,159). Including this, total unrestricted income for the year was £2,335,127 (2023 - £2,042,634) and total restricted income was £83,025 (2023 - £133,159).
Investment policy
The charity has adopted a policy of investing in low risk investment accounts with CAF Bank, Triodos Bank and Kingdom Bank.
Fund raising
The charity relies on voluntary donations from its congregation for its income
Changes in fixed assets
Details of fixed asset movements are set out in note 14.
Restricted funds
Details of the restricted funds held in the year are set out in note 24.
Reserves policy
It is the policy of the charity to maintain the free reserves, which are part of unrestricted funds, at a level which equates to approximately two months' unrestricted expenditure. This is intended to provide sufficient funds to cover committed management, administration and support costs. Total unrestricted funds were reduced during the year, despite increased income levels due to essential operating costs, in particular support costs relating to premises such as utilities as well as capital expenditure that has enhanced our facilities improving their functionality. Capital spend amounted to £199,263 (2023 £68,672). The charity held free reserves of £47,390 (2023 - £171,987) at the year-end which equates to less than one month's unrestricted expenditure. The Trustees and leadership are taking action to rebuild free reserves over the coming financial periods to restore the financial position in line with the policy noted.
The Trustees have considered the key operational, financial, and strategic risks that have a bearing on the charity. Suitable management information is available to the trustees to monitor these risks, and allow any mitigating action to be taken to address them.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and since the year end were:
The church activities are led by the Leadership Team. Trustees are selected by the other members of the Trustee board. New Trustees are approached from amongst the church membership. They are provided with an induction to explain the operations of the charity and their associated responsibility as Trustees. Copies of the Charity Commission guidance are provided. The Trustees meet approximately four times a year to review strategy, performance, operating plans, budgets and building matters. Operational decisions are delegated to the Leadership Team.
In accordance with the company's articles, a resolution proposing that Azets Audit Services be reappointed as auditor of the company will be put at a General Meeting called by the Trustees.
The Trustees' report was approved by the Board of Trustees.
The Trustees, who are also the directors of The C3 Church 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 charity 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; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity 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 charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Opinion
We have audited the financial statements of The C3 Church (the ‘charity’) for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records; or
we have not received all the information and explanations we require for our audit.
As explained more fully in the statement of trustees' responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
Reviewing minutes of meetings of those charged with governance;
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Azets Audit Services is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
designated
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
designated
The C3 Church is a private company limited by guarantee incorporated in England and Wales. The registered office is C3 Centre, 2 Brooks Road, Cambridge, Cambridgeshire, CB1 3HR, United Kingdom.
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 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.
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. Whilst the free reserves have reduced during the period, the Trustees and leadership are taking action to rebuild free reserves over the coming financial periods to restore the financial position in line with the reserves policy. 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.
Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted funds are subject to specific conditions by donors 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 charity 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.
Income is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
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.
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Tangible fixed assets 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 bases:
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.
Fixed asset investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in net income/(expenditure) for the year.
A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
At each reporting end date, the charity 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).
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
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 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, 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 charity’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 charity 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 charity’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.
designated
Equipping events and ministry income
Resource sales
Audio and visual
Conferences, training and resources
Ministry expenses - telephone
Ministry expenses - travel
Ministry expenses - other
Mission and evangelism
Projects expenditure - vision expenses
Families, children and youth work expenses
Interest payable and bank charges
Office expenses
Sundry expenses
Insurance
Light and heat
Maintenance
Marketing
Minibus expenses
Governance costs includes payments to the auditors of £5,500 (2023 - £5,400) for audit fees.
Mr S Campbell, a Trustee, received £58,500 (2023 - £55,000) in respect of salary during the year and was reimbursed expenses of £2,723 (2023 - £2,777).
Mrs A Campbell, a Trustee, received £58,500 (2023 - £55,000) in respect of salary during the year and was reimbursed expenses of £110 (2023 - £171).
Three other members of the family of Mr S and Mrs A Campbell, were also employed by the charity. Their total remuneration was £119,494 (2023 - £110,838)
The charity considers its key management personnel to be the eight (2022 - eight) members of the Leadership Team. The total amount of remuneration received by key management personnel (excluding pension) was £308,742 (2023 - £310,346).
The average monthly number of employees during the year was:
There are no employees who received employee benefits (excluding employer pension costs) of more than £60,000.
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Details of the charity's subsidiaries at 31 December 2024 are as follows:
The long-term loans are secured by fixed charges over the assets of the charity.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £45,445 (2023 - £46,732).
The C3 Impact fund represents monies to support community and social action projects.
The Amey Community and Cambridge City Council grants have been expended on community facilities at the C3 centre, but remain restricted due to an ongoing requirement to use the facilities for community purposes for a period of 5 and 11 years respectively.
The mission gifts fund represents donations received for specific missionary beneficiaries overseas.
The Wellbeing Lead salary represents a donation specifically towards the salary and associated costs of the Wellbeing Lead staff position.
Global Leadership Network represents a grant for the employment of a Chief Generosity Officer.
The vision designated fund represents monies set aside by the trustees for future projects to enable the charity to better fulfil its objectives. This is reflected through general unrestricted reserves for the year ended 31 December 2024.
The Barnabas designated fund represents funds transferred from the vision fund to provide encouragement and hope to causes at the discretion of the charity's leadership team.
The fixed asset funds represent assets funded from special offerings, the net book value of the property and those other assets not funded from restricted income, less the associated borrowings.
Unrestricted funds
Designated funds
Restricted funds
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
The amount shown above includes contributions to a sinking fund required under the terms of the lease.
Other than those transactions disclosed in note 11 of these financial statements, there were no disclosable related party transactions during the year (2023 - none).