The trustees present their report and financial statements for the year ended 31 December 2025.
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)".
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 Charity provides staff, funds and buildings to be used for the advancement of these objectives. The Charity ensures that the church using the facilities has beliefs which are those specified in the deed.
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:
Toddler groups across the week with over 100 registered children attending with parent / carer
Groups for newborns and their parents
Weekly activity for older people from the community, including games, trips out, quizzes, conversation, a meal. Often these older people will be visited personally on other occasions
Support for people experiencing dementia and for their carers.
Christian worship accessible to all ages.
Support of refugee resettlement programme.
Hosting of Alternative Provision Education facility in partnership with Acorn AP
Hospitality for those seeking asylum.
Wellbeing venue supporting people experiencing Mental Health challenges.
Courses, events for those exploring the Christian faith.
Local groups for people to develop in their Christian faith and be encouraged to serve neighbours, workplaces, and community either individually or through serving in other groups.
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.
Significant Activities during the Year
Of particular note in the year was:
A holiday club run jointly with Grace Church Exeter. This was very well attended and the collaboration has connected families across the city.
The implementation of a 'Safer Recruitment' process to support volunteer recruitment and training.
The design and implementation of a new key/security system to facilitate better access to the building and improve efficiency in the management of access.
Significant support to people seeking asylum.
Other ongoing activities
We have 23 local groups (Home Groups) which meet twice a month. We encourage active participation in other local community groups and charities. Our buildings are available for use by agencies with whom we share a similar purpose and have identified as mission partners.
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.
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 at peak points in the year and we have commenced consultation and consideration alternatives for responding to this growth.
The staff employed (part or full time) in the year 2025 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 2025 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.
The church is very dependent on over 300 church members who serves as volunteers in a variety of roles. We are very grateful for the time given without which we wouldn't be able to make progress in fulfilling our objectives.
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.
Buildings - Works
Belmont Exeter has the power to maintain the chapel building. The original chapel buildings are freehold and held by Belmont Exeter. The additional facilities are leasehold.
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
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 2025 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 Leadership Team wrote to all church members laying out the financial situation for the church and invited members to prayerfully review their personal giving. The response to this information and request was very positive and resulted in an increase of financial giving and some one-off gifts. Our regular giving continues to be positive and we hope to reach a situation of balance of regular income and expenditure in 2026.
A finance group has been established as a subgroup of the trustees. This group monitors giving and finance processes. The staff and 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 2026.
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 £120,000.
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 2025, the trust held £1,011,686 in general funds including Fixed Assets.
As at 31 December 2025 the cash reserves (i.e. these reserves not represented by fixed assets) of the charity stood at £252,455 and were split as follows:
Contingency (3 months salaries & contracts) £78,807 [Estimated]
Free reserves £173,648 [Calculated]
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 2025 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', was reviewed in June 2025 and approved by the trustees. A 'safer recruitment' process has been implemented to provide higher levels of assurance and increased training for those taking on roles in the life of the church.
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.
Risks
The trustees have in respect of the year ending 31 December 2025:
(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.
False Teaching: teaching which diverges from the EA statement of faith (‘primary issues’) and associated Ethos and Values statement that would lead people away from serving the Lord Jesus Christ with a consequent impact on the activities of the charity. There are team structures and feedback mechanisms to oversee those who develop teaching and provide theological and pastoral oversight.
Division: A significant split and irreconcilable division within the fellowship would severely impact upon the number of volunteers. Team working, frequent and open communication provides the way by which differing views can be heard. We have a policy in which we seek to ‘live with difference’ wherever possible. This helps to maintain unity on matters which are deemed to be of a secondary or disputable nature.
Safeguarding: Abuse of any kind would have a serious impact on the reputation of the church and its witness in the community (aside from the impact on individuals concerned). We regularly review our safeguarding policy. We provide training to those who work with vulnerable groups.
Reduction of donated income AND donated time: household budgets are under pressure resulting from the increases in energy costs and significant rates of inflation. This has a consequential impact on household finances. This, along with reducing availability of volunteer time upon which so much depends would have significant impact on the mission. We address this risk through regular invitation to review giving, and individual approaches to members to help in activities.
Damage to buildings rendering them inoperable: many activities rely on availability of well equipped and operable buildings. Without these buildings the current ministries could not operate. Facilities Management and insurance provide oversight and care for the buildings.
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, The Summit, Woodwater Park, Pynes Hill, Exeter, EX2 5WS. 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:
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.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Belmont Exeter (the charity) for the year ended 31 December 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants England and Wales, which is one of the listed bodies.
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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.
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.
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.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
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:
Voluntary income is received by way of offerings, donations, gifts and legacies and is included in full in the Statement of Financial Activities when receivable.
lnvestment income is included when receivable.
Other income is included when receivable.
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:
Costs of generating funds comprise the costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
Other costs include those costs associated with meeting the constitutional and statutory requirements of the charity.
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resources. Costs relating to a particular activity are allocated directly and others are apportioned on an appropriate basis.
Grants 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. Further details and grants payable may be found in Note 7.
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:
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.
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.
Gift Aid recoverable
Third age
Special events
Youth work
Under eighteens
Young families
Fellowship Team
Income from buildings
Investments
Charitable Expenditure
Charitable Expenditure
Child protection
Sunday program
Missionary & other charitable gifts
Literature and resources
Care support and fellowship team
Training
Third age
Special events
Young adults
Under eighteens
Young families
Charitable Expenditure
Charitable Expenditure
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.
Two employees of the Charity were 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 2025 | Salary | ER Pension Contribution | Total 2024 |
Mr R C Hughes | £40,476 | £1,214 | £41,690 | £39,186 | £1,219 | £40,405 |
Mr S D Moody | £23,611 | £708 | £24,319 | £0 | £0 | £0 |
Mr S D Moody was appointed as a Trustee on 8 June 2025, therefore reflects the remuneration for a 7 month period.
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.
Other Expenditure
Wages and National Insurance costs
Staff pension
The average monthly number of employees during the year was:
The charity contributes to a defined contribution pension on behalf of its staff.
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
There is no value recorded in these financial statements relating to the purchase of the original church buildings, known as the North Wing.
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.
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 2025, these totalled £45,980 (2024: £44,440).