2024-12-31-accounts - Living Springs International Church

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Charity number: 1020912

Living Springs International Church

Report of the Trustees and Unaudited Financial Statements

For the year ended 31 December 2024

Independent Examiners Report to the Trustees

Living Springs International Church Contents Page

For the year ended 31 December 2024

Report of the Trustees

Statement of Financial Activities

Statement of Financial Position

Notes to the Financial Statements

Detailed Statement of Financial Activities 10t0

Living Springs International Church

For 2024

Report of the Trustees the year ended 31 December

The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31

December 2024. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The trustees have considered the Charity Commission’s guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

REFERENCE AND ADMINISTRATIVE INFORMATION Name of Charity Living Springs International Church Charity registration number 1020912 Principal address 8-10 Devonshire Road London SE23 3TJ

Trustees

The trustees and officers serving during the year and since the year end were as follows:

Mr Solomon Telfer

Ms Abena Titus Glover

Ms Sophia Blankson

Independent examiners Marc Three Accountants 125 Sunnymead Avenue Gillingham Kent ME7 2EB

Approved by the Board of Trustees and signed on its behalf by

13 November 2025 Ms Sophia Blankson

Living Springs International Church

Independent Examiners Report to the Trustees Statement of Financial Activities the year ended 31 December

	Notes	Unrestricted	2023
		funds
Income and endowments from:
Donations and legacies	2	110,230	118,700
Investments	3	25	19
Other income	4	20,400	22,340
Total		130,655	141,059
Expenditure on:
Raising funds	5	(125,615)	(133,030)
Charitable activities		(3,800)	(3,780)
Total
		(129,415)	(136,810)
Net income
Reconciliation of funds Total funds brought forward		1 ,240	4,249
Total funds carried forward		664,492	664,492
		665,732	668,741

Living Springs International Church

For 2024

Statement of Financial Position

As at 31 December 2024

Notes Fixed assets Tangib(e assets 12 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets	2024 828,358	2023 855,310
	828,358	855,310
	54,094	48,898
	54,094 (15,670) 38,424	48,898
		(25,400) 23,498
	866,782	878,808
	(201 ,050)	(210,067)
	665,732	668,741
	665,732	668,741
	665,732	668,741

Living Springs International Church

Total assets less current liabilities

Creditors: amounts falling due after more than one year

Net assets

The funds of the charity Unrestricted income funds 15

Total funds

The financial statements were approved and authorised for issue by the Board and signed on its behalf by:

Ms Abena Titus Glover Trustee

13 November 2025

Living Springs International Church

For 2024

Notes to the Financial Statements

the year ended 31 December

1. Accounting Policies

Basis of accounting

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.

Living Springs International Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Income from donations and legacies Unrestricted funds Donations received

v i n g S p r i n g s I n t e r n a t i o n a l C h u r c h 3. Investnent income

Liv

ing Spr ing

Inte rnat ion al

urc

For 2024

Unrestricted funds Bank interest receivable

Other income

v i n g S p r i n g s I n t e r n a t i o n a l C h u r c h Unrestricted funds

Liv ing Spr ing s Inte rnat ion al Ch urc h

For 2024

Gains on disposal of tangible fixed asset for charity's own use Rental income

2024	2023
110,230	118,700

		L
	i
	v
	i
	n
	g
	S
	p
	r
	i
	n
	g
	s
	I
	n
	t
	e
	r
	n
	a
	t
	i
	o
	n
	a
	l
	C
	h
	u
	r
	c
	h
110,230		118,700
2024		2023
		E
25		19

L i v i n g S p r i n g s I n t e r n a t i o n a l C h u r c h For 2024 25

i v i n g S p r i n g s I n t e r n a t i o n a l C h u r c h

2024 20,400

2023 22,340

L i v i n g S p r i n g s I n t e r n a t i o n a l C h u r c h For 2024 20,400

22,340

Living Springs Internatioanl Church Notes to the Financial Statements Continued For the year ended 31 December 2024

Expendituæ on generating donations and legacies

		2024	2023
Unrestricted funds
Donations 77,480 80,790 Support costs	48,135 52,240
		125,615	133,030
6. Costs of charitable activiäes by fund type
		2024	2023
Unrestricted funds
Support costs		3,800	3,780
7. Costs of charitable activities by activity type
		2024	2023
			E
Donations		3,800	3,780
8. Analysis of support costs
		2024	2023
Voluntary Income
Management		6,900	7,430
Heating, Light & Power		2,105	11960
Travel ling		5,870	5,600
Telephone & Computers		1 ,550	1 ,430
Musicians		11,700	14,800
Pastorial & Missionary		10,660	11 200
Volunteers & General		7,900	8,500
Expenses
Catering &		1 ,450	13320
Refreshments
Governance costs		3,800	3,780

Living Springs Internatioanl Church Notes to the Financial Statements Continued For the year ended 31 December 2024

Net income/(expenditure) for the year

This is stated after charging/(crediting): Accountancy fees (Gain)/Loss on disposal of tangible fixed assets

----- Start of picture text -----
||| |---|---| |51 ,935|56,020| |2024|2023| |2,500|2,500| |(22,340)|

----- End of picture text -----

10. Staff costs and emoluments

Total staff costs for the year ended 31 December 2024 were:

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |Salaries and wages|46,500|46,500| |46,500|46,500| |2024|2023| |00| |Volunteers|

----- End of picture text -----

11. Comparative for the Statement of Financial Activities

The comparative year values on the Statement of Financial Activites are for unrestricted funds.

12. Tangible fixed assets

----- Start of picture text -----
||| |---|---| |Land and| |Cost or valuation|Buildings| |£| |At 01 January 2024|1,347,617| |At 31 December 2024|1,347,817| |Depreciation| |At 01 January 2024|492,307| |Charge for year|26,952| |At 31 December 2024|519,259|

----- End of picture text -----

Living Springs Internatioanl Church Notes to the Financial Statements Continued For the year ended 31 December 2024

Net book values

At 31 December 2024			828,358
		ae	tat .
At 31 December 2023			855,310
13. Creditors: amounts falling due within one year
	2024		2023
Other creditors	15,670		25,400
	15,670		25,400
14. Creditors: amounts falling due after more than one year
	2024		2023
Other creditors
	201 ,050		210,067
	201 ,050		210,067

			2024	2023
Other creditors
			201 ,050	210,067
			201 ,050	210,067
15. Movement in funds
Unrestricted Funds
	Balance at Incoming Outgoing Balance at 01/01/2024	Balance at Incoming Outgoing Balance at 01/01/2024	Balance at Incoming Outgoing Balance at 01/01/2024
	resources resources 31/1212024
General
General	664,492	130,655	(129,415)	665,732
	664,492	130,655	(129,415)	665,732
Unrestricted Funds - Previous year
	Balance at	Incoming	Outgoing	Balance
				at
	01/01/2023	resources	resources	31/12/2023
General
General	664,492	141 ,059	(136,810)	668,741
	664,492	141 ,059	(136,810)	668,741

Living Springs Internatioanl Church Notes to the Financial Statements Continued For the year ended 31 December 2024

Purpose of unrestricted Funds

General

To advance the Christian religion and education in religion; to relieve poverty, hardship and distress. 16. Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted funds General General Previous year Unrestricted funds General General	Tangible Net current Creditors > Net Assets fixed assets assets I one year (liabilities) 828,358 38,424 (201 ,050) 665,732
	828,358 38,424 (201 ,050) 665,732
	Tangible fixed assets 855,310 Net current assets I (liabilities) 23,498 Creditors > one year (210,067) Net Assets 668,741
	855,310 23,498 (210,067) 668,741

Living Springs Internatioanl Church Detailed Statement of Financial Activities

For the year ended 31 December 2024

		2024	2023
INCOME AND ENDOWMENT
Donations and legacies
Donations		110,230	118,700
		110,230	118,700
Investments
Bank interest receivable		25	19
		25	19
Other income
Gains on disposal of tangible fixed asset for	22,340 charity's own use
Rental income		20,400
Total incoming resources		130,655	141 ,059
EXPENDITURE
Raising donations and legacies
Donations		(77,480)	(80, 790)
		20,400	22,340
		(77,480)	(80,790)
SUPPORT COSTS
Management
Management		(6,900)	(7,430)
		(6,900)	(7,430)
Heating, Light & Power
Heating, Light & Power		(2,105)	(1,960)
		(2,105)	(1 ,960)
Travelling
TraveJ)jng		(5,870)	(5,600)
		(5,870)	(5,600)
Telephone & Computers
Telephone & Computers		(1 ,550)	(1,430)
		(1 ,550)	(1 ,430)
Musicians
Musicians		(11,700)	(14,800)
		(11,700)	(14,800)
Pastorial & Missionary
Pastorial & Missionary		(10,660)	(11,200)
		(10,660)	(11 200)

Volunteers & General Expenses

Living Springs Internatioanl Church

Living SpringsInternatioanlChurch	Living SpringsInternatioanlChurch
Volunteers & General Expenses		(7,900)	(8,500)
		(7,900)	(8,500)
Catering & Refreshments
Catering & Refreshments		(1 ,450)	(1,320)
	This page does not form part of the statutory financial statements
	Detailed Statement of Financial Activities Continued
	For the year ended 31 December 2024
		(1 ,450)	(1 ,320)
Governance costs
Governance costs		(3,800)	(3,780)
		(3,800)	(3,780)
Total resources expended		(129,415)	(136,810)
Net Income
		1 ,240	4,249

Living Springs Internatioanl Church

This page does not form pan of the statutory financial Stateme