2020-12-31-accounts - Life Church Petersfield

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Trustees’ Annual Report for the period 1[st] January 2020 to 31[st] December 2020 Charity name: Life Church Petersfield Charity registration number: 1015031

Objectives and Activities

	SORP
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The objects of Life Church Petersfield are, for the public benefit:- to advance the Christian faithby following and proclaiming the principles and truths of the Bible (both old and new testaments.) In furtherance of this Objective the Church may arrange public and other meetings for worship, praise, evangelism, teaching, study encouragement and prayer. to relieve poverty**and to meet specific need (physical, moral and spiritual) both in this country and overseas by any means (eg. donations, provisions of goods or services, contributions, loans and advances with or without interest.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 & 1.19	After March 21st2020, due to Covid restrictions and lockdowns, many of our activities had to be cancelled or find alternatives like zoom and conference calling. Messy church, Holiday ClubandTots Discodid not take place. Regular Sunday and mid week meetings; Life church continued to meet regularly on Sunday mornings and in small midweek groups for worship, teaching, prayer and fellowship until mid March 2020.After which we had to change our meeting format drastically moving onto YouTube Live for Sunday morning meetings for worship, teaching and prayer with fellowship via Coffee zoom after the meeting. Mid week meetings also moved onto zoom or conference call with occasional small socially distanced meetings in the Catholic church hall when permitted. (One life group and Life group leaders taking advantage of this face to face but socially distanced, masked up format) It has been difficult to be involved with anyPACT gatherings due to the Covid restrictions but the church leaders within PACT have been able to meet monthly via zoom for a lunchtime meeting. Life church has been able to support PACT and its initiatives which have included :-

		Town Chaplaincy:giving help, encouragement and support to local shop keepers and market stall holders within the Covid restrictions. This has been invaluable with the market stall holders. It was more difficult with non essential shops due to lockdowns However it was much appreciated when we could visit. The Remembrance service and Armistice Day parade were well attended and the Town Chaplaincy were on hand to marshall and to ensure safe social distancing was adhered to. Their efforts drew words of appreciation from the Mayor and Town Council. Christian Art group;workshops continued to provide opportunities for people to explore different materials and techniques in a safe, socially distanced environment though reduced in numbers e.g. 2 masked people in separate rooms and only when lockdown was lifted. Kings Arms:A local youth project where several members of Life Church provide help and support. They continued to provide support throughout the lockdown Prayer for the church and wider community*had to move onto zoom three times a week – Sunday, Tuesday and Fridays with different hosts. This has continued to be a lifeline throughout the pandemic. Children’s work:In November/December, Adventure boxes were distributed to 15 church families who were very happy to receive them as they were used to teach children in lockdown with nearly 40 children helped. DNA students: from oversees. Life church has supported 2 DNA students studying and working with the Church and the King’s Arms project. Annual Pioneer Leaders Conference:This event occurred in early March and was attended by a number of members from Life church
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	This is to confirm that Life Church Petersfield have undertaken a range of activities which fulfil the obligation set out in their objectives and that the Trustees have noted the Charity Commissions guidance on ‘public benefit’.

Additional information (optional) You may choose to include further statements where relevant about:

	SORP
Contribution made by volunteers	Para 1.38	Many of the activities of Life church are undertaken by volunteers; *Weekly worship:Pre Covid - these include (but not limited to) speakers, musicians, singers, sound engineers, projectionists, youth and children’s workers, refreshments team and welcomers. After March 21stwhen we moved the Sunday meetings onto Live steam You tube, several people were involved in the filmingof eachpart of

the service, including worship, editing the production and sending out links. At Christmas we had 40 individuals contributing to the meeting. Life groups:* providing Bible study, teaching, prayer and mutual support to church members . A small team organised and produced material for the ‘Season of Fruitfulness’ Bible studies used in Life groups. And there was the communicating with group and sending out the link. Assemble; The Youth group unable to meet after mid March moved onto zoom and this became the place for the young people to encounter God in meaningful ways that were appropriate to their age and through the activities, support and discussions they received from the Youth Leaders and from the DNA students. Chaplaincy: coming alongside stall holders and shop keepers to encourage and support with prayers . Christian Arts Group:** encouraging people to develop their creative skills and to share fellowship and prayer. Knit and Knatter** ; pre Covid. To provide a safe environment to share fellowship and encouragement with older ladies from the community. Many of their knitted items have been donated to local charities.

Achievements and Performance

	SORP
Summary of the main achievements of the charity, identifying the difference the Charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	Most of the activities that Life Church Petersfield undertakes and supports are not readily measured by quantitative data. Rather we base our achievements on qualitative measures. Children’s Work; -Members of the church and wider community are given support and encouragement through these activities for example –the Adventure boxes distributed to families benefitted up to 40 children and supported parents with homeschooling. Weekly Meetings;both the church gathering on a Sunday and the Live stream You tube are open to the public, providing mutual support, fellowship and teaching. As part of our*Poverty Reliefwe give financial support (particularly at Christmas) to various individuals in the local community. (36 in 2020). The lives and activities of the volunteers within the church (see 1.38) have a significant impact on their neighbourhood and the town. On the wider front, we continue to be members ofPioneer network of churches

and the Evangelical Alliance .

Speakers;

We have provided financial support, on a regular basis to one speaker this year, who has visited the church and spoken on the Live stream You Tube meeting, to support our objectives by means of preaching, teaching and encouragement.

Overseas;

Life Church Petersfield makes regular donations to 6 members of YWAM ( Youth with a Mission) We support IMC (in Ministry to Children) a charity based in Colombia that cares for homeless children and young families facing extreme poverty. During the year Life Church Petersfield received specific donations for Hope in Burundi a charity based in Burundi, Africa working with children and young people ensuring that they get an education and improved career prospects. This amounted to £1625.00

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	Please refer to the Financial Statements in the following pages of this report.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	The Trustees have established a policy whereby unrestricted funds not committed or invested in tangible fixed assets (the ‘free reserves’) held by the charity should be a minimum of 3 months of the resources expended.
Amount of reserves held	Para 1.22	£30,000
Reasons for holding zero reserves	Para 1.22	N/A
Details of fund materially in deficit	Para 1.24	None
Explanation of any uncertainties about the charity continuingas agoingconcern	Para 1.23	N/A

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document	Para 1.25	Constitution
How is the charity constituted?	Para 1.25	Unincorporated association
Trustee selection methods including details of any constitutional provisions e.g. election topost or name of any	Para 1.25	The church members nominate potential trustees. These nominations are vetted by the current trustees and those selected are put forward for election by the members at the AGM or EGM.

person or body entitled to appoint one or more trustees

Additional information (optional)

You may choose to include further statements where relevant about:

Relationship with any related Life Church Petersfield is a member of the Pioneer parties Network, Petersfield Area Churches Together (PACT) Para 1.51 and the Evangelical Alliance.

Reference and Administrative details

Charity name	Life Church Petersfield
Registered charity number	1015031
Charity’s principal address	Life Church Centre 16D Chapel Street Petersfield, Hampshire GU32 3DZ
Gift Aid Tax reference	XN41983

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Name of person (or body) entitled to appoint trustee (if any)
JF Callaghan	ex officio	LeadershipTeam
T Merriman	ex officio	LeadershipTeam
D Parkes		Membershipat AGM
B Shaw	Chair	Membershipat AGM
R Romanowicz		Membershipat AGM
S Smith		Membershipat AGM
T Aeschliman		Membershipat AGM

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity	N/A
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects	N/A
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets	N/A

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Belinda Bridgetta Cecelia Shaw Position (eg Secretary, Chair Chair, etc) Date 2[nd] March 2021

Charity Registration No. 1015031

LIFE CHURCH PETERSFIELD

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

LIFE CHURCH PETERSFIELD

LEGAL AND ADMINISTRATIVE INFORMATION

TRUSTEES:	Mr J Arnold
	Mr J Callaghan
	Mr M Gibson
	Mr R D Parkes
	Ms B Shaw
	Ms R Romanowicz
	Ms S Smith
CHARITY NUMBER:	1015031
PRINCIPAL OFFICE:	16D Chapel Street
	Petersfield
	Hampshire
	GU32 3DZ
INDEPENDENT EXAMINER:	TaxAssist Accountants
	Liss Business Centre
	Station Road
	Liss
	Hampshire
	GU33 7AW

LIFE CHURCH PETERSFIELD

CONTENTS OF THE FINANCIAL STATEMENTS

Independent examiner's report

Statement of financial activities

Balance sheet

Notes to the Financial Statements

LIFE CHURCH PETERSFIELD

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF LIFE CHURCH PETERSFIELD

I report to the Trustees on my examination of the financial statements of Life Church Petersfield (the Life Church Petersfield) for the year ended 31 December 2020.

Responsibilities and basis of report

As the Trustees of the Life Church Petersfield you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the Life Church Petersfield’s financial statements carried out under section 145 of 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

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 Life Church Petersfield as required by section 130 of the 2011 Act; or

2 the financial statements do not accord with those records; or

3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

D M Clanchy TaxAssist Accountants

Liss Business Centre Station Road Liss Hampshire GU33 7AW

Dated: 02 March 2021

LIFE CHURCH PETERSFIELD

STATEMENT OF FINANCIAL ACTIVITIES

INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2020

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Notes Unrestricted Restricted Total Total
funds funds
2020 2020 2020 2019
£ £ £ £
Income from:
Donations and legacies 3 100,765 3,643 104,408 104,832
Charitable activities 4 2,062 2,062 3,440
Investments 5 154 154 330
Total Income 102,981 3,643 106,624 108,602
Expenditure on
Raising Funds 6 29,231 29,231 31,080
Charitable activities 7 68,672 1,995 70,667 91,603
Total Resources expended 97,903 1,995 99,898 122,683
Net income/(expenditure) for the year/
Net movement in funds 5,078 1,648 6,726 (14,082)
Fund balances at 01 January 2020 74,048 300 74,348 88,431
Fund balances at 31 December 2020 79,126 1,948 81,074 74,349
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The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

LIFE CHURCH PETERSFIELD

BALANCE SHEET

AS AT 31 DECEMBER 2020

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Notes 2020 2019
£ £ £ £
Fixed Assets
Tangible assets 10 2,339 2,631
Current assets
Debtors 12 10,025 10,955
Cash at bank and in hand 73,259 63,446
83,284 74,401
Creditors: Amounts falling
due within one year 13 (4,549) (2,684)
Net current assets 78,735 71,717
Total assets less current liabilities 81,074 74,348
Income funds
Restricted funds 1,948 300
Unrestricted funds 79,126 74,048
Total charity funds 81,074 74,348
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The Financial statements were approved by the Trustees on 28 February 2021

…………………………………..

Ms B Shaw Trustee

LIFE CHURCH PETERSFIELD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

Charity information

Life Church Petersfield is a registered charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Life Church Petersfield's [governing document], the Charities Act 2011 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)” (as amended for accounting periods commencing from 1 January 2016). The Life Church Petersfield is a Public Benefit Entity as defined by FRS 102.

The Life Church Petersfield 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 have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. 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 Life Church Petersfield 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 unless the funds have been designated for other purposes.

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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Life Church Petersfield.

1.4 Incoming resources

Income is recognised when the Life Church Petersfield is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Life Church Petersfield 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.

LIFE CHURCH PETERSFIELD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the Life Church Petersfield has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Turnover 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.

1.5 Resources expended

1.6 Tangible fixed assets

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:

Plant and equipment 10% Computers 25%

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 net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the Life Church Petersfield 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 ).

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

1.8 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.

1.9 Financial instruments

The Life Church Petersfield 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 Life Church Petersfield's balance sheet when the Life Church Petersfield 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.

LIFE CHURCH PETERSFIELD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

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 p aymen ts 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 Life Church Petersfield’s contractual obligations expire or are discharged or cancelled.

1.1 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 Life Church Petersfield is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the Life Church Petersfield’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.

LIFE CHURCH PETERSFIELD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

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3 Donations and legacies
Unrestricted Restricted Total Total
Funds Funds
2020 2020 2020 2019
£ £ £ £
Donations and gifts 83,377 3,643 87,020 87,938
Income tax reclaimed 17,388 17,388 16,894
100,765 3,643 104,408 104,832
For the year ended 31 December 2019 100,711 4,121 104,832
4 Charitable activities 2020 2019
£ £
Sales within charitable activities 1,375 2,829
Other income 687 611
2,062 3,440
5 Investments
Unrestricted Total
Funds
2020 2019
£ £
Interest receivable 154 330
6 Raising Funds Unrestricted Total
Funds
2020 2019
£ £
Fundraising and publicity 29,231 31,080
Support costs 29,231 31,080
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LIFE CHURCH PETERSFIELD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

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(continued)
7 Charitable activities 2020 2019
£ £
Staff costs 27,217 36,468
External Ministry Support 26,857 32,273
Hall & Room hire 2,143 8,791
Outreach 495 3,031
Social Fund 4,861 4,258
Youth Work 2,912 734
Children's Church - 114
Worship Team - 68
Training 120 1,109
Refreshments & Communion 36 534
Flowers & Cards 235 596
DNA 2,370 -
FrontLine 118 -
Church Activities 2,130 2,457
69,494 90,433
Share of governance costs (see note 8) 1,173 1,170
70,667 91,603
Analysis by fund
Unrestricted funds 68,672
Restricted funds 1,995
70,667
For the year ended 31 December 2019
Unrestricted funds 87,497
Restricted funds 4,106
91,603
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LIFE CHURCH PETERSFIELD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

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8 Support Costs
Support Governance 2020 2019
Costs Costs
£ £ £ £
Staff costs 14,972 14,972 16,419
Depreciation 292 292 292
Pension contributions 936 936 1,271
Rent 9,000 9,000 9,000
Insurance 860 860 860
Music Licences 569 569 544
Photocopier 808 808 934
Storage 753 753 751
Bank charges 180 180 180
General Expenses 861 861 829
Legal and professional 1,173 1,173 1,170
29,231 1,173 30,404 32,250
Analysed between
Fundraising 29,231 29,231 31,080
Charitable activities 1,173 1,173 1,170
29,231 1,173 30,404 32,250
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Governance costs includes payments to the independent examiner of £ 708 ( 2019 - £708 ) .

9 Trustees

None of the elected Trustees received any remuneration or benefits from the Life Church Petersfield during the year.

LIFE CHURCH PETERSFIELD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

10 Tangible fixed assets

Cost At 1st January 2020 Additions At 31st December 2020 Depreciation and impairment At 1st January 2020 Depreciation charge in the year At 31st December 2020 Carrying amount At 31st December 2020 At 31st December 2019 11 Financial Statements Carrying amount of financial assets Debt instruments measured at amortised cost Carrying amount of financial liabilities Measured at amortised cost 12 Debtors Amounts falling due within one year: Other debtors Prepayments 13 Creditors: amounts falling due within one year Other creditors Accruals and deferred income	Plant and Equipment £ 38,317 - 38,317 35,686 292 35,978 2,339 2,631	Computers £ 1,393 - 1,393 1,393 - - - - 2020 £ 8,250 4,549 2019 £ 9,125 900 10,025 2019 £ 1,151 3,398 4,549	Total £ 39,710 - 39,710 37,079 292 37,371 2,339 2,631 2019 £ 8,500 2,684 2018 £ 10,095 860 10,955 2018 £ 1,976 708 2,684