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2021-12-31-accounts

CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

CHRISTIAN LIFE FELLOWSHIP (CITY FAITH MINISTRIES TRUST)

Statutory Financial Statements & Trustees Report 31[st] December 2021

Charity No. 1045627

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

Legal and Administrative Information

Trustees: Mr Michael Amoah
Mr Philip Ankrah
Mr Enoch Amoah
Mr Nnaemeka Umeadi
Mrs Marilyn Mensah
Mrs Sandra Ankrah
Charity Registration No: 1045627
Principal Office: 87 Trafalgar Road
Greenwich
London
SE10 9TS
Accountants: Rev Olu Olasode PhD FCCA
TL First Accountants & Consultants
1 Copers Cope Road
Beckenham, Kent
BR3 1NB
Bankers: Natwest Bank Plc
HSBC Bank Plc
Barclays Bank Plc

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

TRUSTEES REPORT 2021

Introduction

This document has been prepared for the Trustees and members of City Faith Ministries Trust (CFMT) (aka Christian Life Fellowship (CLF) as an end of year report detailing its activities and operations throughout the year 2021 as outlined in the following information:

Emphasis and focus in 2021

Continuing our theme of Blessed to IMPACT from 2019 , our emphasis for 2021 was “Kingdom IMPACT” . We believe that God has blessed us in order for us to impact our world with His kingdom. We sought to pursue this mandate in the same vein as we did the previous year as follows:

Our emphasis was pursued through our UK corporate activities and our Main active components as outlined in this document.

Key text used for our emphasis throughout 2021 was found in Matthew 6:33 But seek first the kingdom of God and His righteousness, and all these things shall be added to you.

• UK corporate activities

• CLF Global activities and initiatives

CLF’s Bible School, Christian Life Training Institute (CLTI) continued to function throughout the year in the UK, Ghana, and Kenya.

Apostolic Forums took place for leaders in Sierra Leone, Kenya, Liberia, and Zambia from June to October. Pastors and leaders Forum took place in Sierra Leone in December.

Youth conference took place in Sierra Leone in November under the banner of Kingdom ImpactMaturing Kingdom Disciples.

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

Mission to Sierra Leone January 2021 to February 2021. We planted our second Youth Church in Bo, Sierra Leone during this mission.

Child Sponsorship. Through our missions arm Christian Life Mission (CLM) formerly Christian Life Ministries, we continue to sponsor the education of children in Ghana. The scheme was suspended in Sierra Leone due to administrative challenges.

Supporting Churches and Church leaders. Due to the COVID Pandemic, CLF UK decided to provide financial stipends as an additional means of support to Church leaders within CLF globally. This provision has been on-going throughout 2021.

Projects in 2021

The CLF Masiaka (Sierra Leone) Church building is currently being constructed that will serve as a primary school has reached the Foundation stage.

CLF continued support of our first primary school in Ghana, Crystal Preparatory with 75 pupils (see attached Ghana report for further details).

Main active components in 2021

• Church Planting

We believe Church planting to be the most effective method of obeying the Great Commission of Jesus Christ through world evangelism and the discipleship of every born-again believer within the context of a church community.

• Local Churches

As at 31[st] December 2021, CLF Churches comprised of:

UK – 7:

England: Greenwich, Life Centre (Lambeth), Medway, Kings House (South Woodford), Genesis (Enfield), New Streams Online Church and Scotland.

Ghana – 16 churches in 3 Districts:

Central District: Asafo, Ekroful, Mahodwe, and Moree Accra District: Alogboshi, Kotobabi, Teacher Mante, Kasoa, and Macedonia Eastern District: Habitat, Afiasa, Appapam, Koforidua, Moseaso, Abomosu, and Osino

Kenya – 2:

Nairobi – Buruburu and Uthiru.

Sierra Leone – 13: Port Loko the Headquarter Church, Maforki, Ropolon, Tiama, Benga, (Kagboroh), Kambia Makama, Masiaka, Youth Church (Port Loko), Youth Church (Bo), Mopalla, Bengeh, and Bambuibu.

CLF continues to have affiliations with the Sierra Leone Armed Forces Chaplaincy

Liberia – 1 Polotorie (Monrovia)

India – Chennai Annar Nagar

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

Our Church in Perambakam was unfortunately closed down after facing several existential challenges

Andre Pradesh State – 7 churches in tribal villages in partnership with Gospel Church Mission led by Rev Dr Joseph Moses

The Gambia – 1 Kotu Fellowship

Republic of South Africa (RSA) – 1 Fresh Start Sada

CLF continues to have affiliations with the Sierra Leone Armed Forces Chaplaincy. Overall, in 2021, CLF had 49 Churches spread across 8 countries.

• Leadership Development

CLF has a seven-stage discipleship strategy to equip our members from new believers to ordained ministers as part of our Membership Discipleship Program (MDP). This strategy is further enhanced through our Bible school (Christian Life Training Institute (CLTI), and various training initiatives and seminars as outlined below:

Christian Life Training Institute (CLTI)

CLTI is the Bible School initiative of CLF. It aims to serve our mission and vision to make disciples of Jesus Christ by equipping our members and the wider body of Christ with a Christ centred perspective to life and ministry.

CLTI offers two flagship courses – Ministerial Training Course (MTC) for the spiritually mature, and Christian Discipleship Course (CDC) for believers who desire to be equipped as Disciples of Christ. CLTI also offers other short courses in a variety of subjects and is currently established in the following countries:

• Ministries

The Ministries component within CLF consists of various initiatives and services whose remit and scope of operation goes beyond the CLF family to the wider body of Christ and/or the general community within society. The following were the active ministries in 2021:

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

• Missions

The primary corporate mission’s effort of CLF comes under Christian Life Mission (CLM) formerly Christian Life Ministries) in partnership with CLM Trust. CLM Trust is a registered charity committed to world evangelism, Church planting, leadership development, and social action. In 2021 CLM was responsible for the following initiatives:

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

Churches spiritually, ministering in Church services and seminars, leadership development, to providing welfare support.

Highlights of 2021

The highlights of 2021 are those achievements and activities in 2021 within the UK that we felt emphasised the corporate progress of CLF during that year. These included:

Other notable events in 2021

2021 also saw other individuals and teams go on missions in partnership with or on behalf of CLF to Sierra Leone, The Gambia, Republic of South Africa, and Ghana.

Kudzai and Liz Mundora along with their children Zachary and Zara-Grace went to Cambodia for a long-term mission.

Pastors Peter and Marilyn Mensah along with their children Ioanna and Othniel went to Ghana on long-term mission.

We had the pleasure of welcoming several babies and newly-weds into our fellowship.

Major challenges in 2021

We experienced sad passing of our Founder, General Overseer and Faithful Servant of over three decades Bishop Joseph Boadu on 23[rd ] June 2021. Pastor Joseph by inspiration of Almighty God established CFMT with a vision to obey the Great Commission for Jesus Christ through world evangelism and the discipleship of every born-again believer within the context of a church

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

community.

As an organization we have suffered profound loss in his passing as we have grown immeasurably by the grace of God through his faithful servant to what we are now as a global movement. As we pay tribute and mark his pilgrimage, we take some comfort in knowing that we shall meet again as expounded in 1 Thessalonians 4:13-14. We also extend our deep love and appreciation to his beloved wife Ayshea and children Daniel, Charis and Joel and assure them of our support and honour.

We are also blessed to have Pastor John Dompreh will be leading the organisation with the Eldership as our new General Overseer, we wish him and his dear family the best of our Lord’s grace, wisdom, and favour in this calling.

We also experienced the passing away of our long-term friend and ministry partner, Dr Joseph Moses, of Gospel Mission who passed away in May 2021.

2021 also saw the sad passing of many CLF members: Shelley Lee, Vicky Amaning and her sons Ezra and Joseph, Jordan Viera, Diane Acheampong, Sharon Allen-Harper and Fitzroy Anthony Williams as well as several close and dear family members and friends.

COVID 19 did indeed prove to be a major challenge for CLF and the rest of the world in 2021. However, CLF enjoyed the grace and favour of God during this period and experienced a greater sense of unity and divine provision.

Partnership Organisations and Ministries

In addition to CLF’s initiatives and activities, CLF also supported and partnered with the following organisations and Church leaders as they sought to fulfil their specific mission:

CLF Global 2022 – Kingdom Advancing

Key Text for 2022: Matthew 6:33 But seek first the kingdom of God and His righteousness, and all these things shall be added to you.

Continuing our theme of Kingdom IMPACT of the previous year (2021) , our emphasis for 2022 is “ The kingdom ADVANCING ”. We pursue this by:

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

• What is the Kingdom of God?

As already emphasized and taught last year, the kingdom of God is wherever God reigns . It is the will and dominion of God demonstrated in any given context where Jesus Christ His Son is honoured as Lord and King.

The kingdom of God is not of this world and should therefore not be expected to conform to its rudiments. As the following verse highlights, it is spiritual in nature and all embracing:

Romans 14:17 for the kingdom of God is not eating and drinking, but righteousness and peace and joy in the Holy Spirit.

The kingdom of God is essentially supernatural. It is not empty words or mere talk! It is not philosophy or principles with no teeth. It is miraculous and powerful:

1 Corinthians 4:20 For the kingdom of God is not in word but in power.

Anytime one aims to demonstrate the kingdom of God, they should expect it to become evident through supernatural tokens to those they are ministering to.

• What is Kingdom Advancing?

Isaiah 9:7 AMP There shall be no end to the increase of His government and of peace, [He shall rule] on the throne of David and over his kingdom, to establish it and to uphold it with justice and righteousness from that time forward and forevermore. The zeal of the LORD of hosts will accomplish this.

Matt 24:14 And this gospel of the kingdom will be preached in the whole world as a testimony to all nations, and then the end will come.

Romans 14:17 for the kingdom of God is not eating and drinking, but righteousness and peace and joy in the Holy Spirit.

Kingdom Advancing is the government of God ruling in the believer’s life, the church and in the world. This is manifested in two main ways

INTERNAL: The kingdom of God is within you. It is the spiritual growth in a believer’s character into

Christlikeness, hallmarked by love, grace, and truth in the power of the Holy Spirit

EXTERNAL: The manifestation of the love, wisdom, ways, power and works of God externally i.e., being Light and Salt in all forms and shapes in our world.

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

CLF Plans from 2022

Our goals from 2022 is to:

Disciple our members into leaders

We aim to develop a culture of discipleship and leadership within CLF Globally. We achieve this through our Membership Discipleship Program and developing leadership development initiatives as led by the Holy Spirit.

Strengthen and establish our local Churches

We aim to see our Churches grow into vibrant dynamic spirit filled congregations committed to making disciples for Jesus Christ. We aim to achieve this through:

Developing new Cell leaders and growing new Cell groups (Discipleship or Life groups) in our local Churches

Focusing on serving the immediate community where our local Churches gather to worship each week

Focusing and strategically working towards the numerical growth of our local Churches into large growing healthy discipleship-oriented congregations

• Church plant into new territories

These are areas and nations currently laid on our hearts and is therefore not exhaustive. They are pioneered as the Holy Spirit leads:

The UK:

  1. Wales 2. Belfast, NI 3. Liverpool

  2. And anywhere in the UK we feel led to plant in

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

Overseas:

  1. The Philippines 2. Vietnam 3. Canada 4. Nigeria 5. Holland 6. USA 7. Burkina Faso 8. Cote D'Ivoire 9. Mali 10. Rwanda 11. Guyana 12. Brazil 13. Jamaica 14. Israel

• CLF TV

Our goal is to use the Internet as a viable platform to further the gospel of Jesus Christ and the kingdom of God sometime in the near future.

Our purpose is to provide a forum that facilitates the creativity of CLF members and members of the Christ to the outside world to the glory of God.

We also aim to empower, entertain, and educate the body of Christ and the wider society from a Christ- centred perspective.

• Education

  1. Establish a Primary School in the Kyebi Afiasa area, Ghana

  2. Support and establish our current Schools in:

  3. Ghana – Swedru

  4. Sierra Leone – Masiaka

  5. Establish from Nursery to University educational institutions in third world nations where we have a presence, as the Holy Spirit leads.

• Annual pilgrimage to Israel

This is in response to the Holy Spirit’s directive to begin such an initiative. Our aim is to obey the Lord’s directive and deepen the spiritual experience of God’s people through annual pilgrimages to the Holy Land.

About City Faith Ministries Trust

City Faith Ministries Trust (CFMT) is the charity name under which Christian Life Fellowship (CLF) is registered.

CLF is a global family of Churches and ministries committed to making disciples of Jesus Christ as a Christ centred purpose driven Church.

We are a nondenominational Church and a member of the Evangelical Alliance (UK).

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

• Our Mission

We exist because of The Great commission of our Lord Jesus summarized in Matthew 28:18 to 20, which mandates us to make disciples of Jesus Christ .

• Our Vision

Our vision is to fulfil our mission to make disciples of Jesus Christ by planting and establishing local Churches in every nation and in every city, town and village within those nations.

We also fulfil our vision as we facilitate Church planting and leadership development in partnership with other Churches and ministries within the body of Christ in those nations.

• Our core values

Our core values are those ideals we are unwilling to compromise as we fulfil our vision. They are derived from our mission and embrace the following:

• Our Strategy

Our strategy speaks to us of how we pursue and fulfill our vision through a commitment to the following:

  1. The teaching and preaching of the word of God

  2. Fellowship of believers in Cell (Discipleship) groups

  3. Communion around the Lord’s Table

  4. Prayer

  5. Evangelism and world missions

  6. Planting and establishing local Churches

  7. Membership Discipleship Program (MDP) including CLTI - being rigorous and intentional in how we develop our members over a seven stage process:

  8. Stage 1 – New Believers Course

  9. Stage 2 – New Members Orientation Course

  10. Stage 3 – Spiritual Maturity Course also Christian Discipleship Course

  11. Stage 4 – Ministry Orientation for Church Workers

  12. Stage 5 – Leadership Orientation course

  13. • Stage 6 – Ministerial Training course

  14. Stage 7 – Ordination Process

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

Every CLF Church should endeavor to ensure that each stage of discipleship is being expressed within the life of their local congregation

Responsibilities and functions within the Trust

City Faith Ministries Trust (CFMT) functions as the umbrella charity responsible for CLF’s Head office, corporate initiatives, new ministry initiatives outside of a local Church covering, new authorised Church plants, and any CLF Church without its own charitable or CIO status.

We have the privilege of welcoming the new General Overseer Kwame John Dompreh in September 2021

These responsibilities are further administered under the leadership of CLF’s Global Executive Board (General Presbytery) and CFMT Board of Trustees, and involve the following:

CFMT seeks to raise its financial support through:

  1. The generosity of CLF members, the body of Christ in general, and the wider public at large

  2. A recommended 10% of tithes from local Churches in the UK

  3. Income generated through corporate events, CLF initiatives including publications, media, CLTI, and overseas missions initiatives

  4. Other legitimate legal avenues that do not conflict with our values or constitution

Monies raised will go towards providing financial support required to administrate the CFMT responsibilities outlined above.

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

• CLF recognised Churches

All CLF Churches are formally and publicly recognised by the Global Executive (General Presbytery) and the indigenous national board of Elders as an established CLF Church when they are able to meet the following criterion:

  1. They recognise the apostolic leadership of the Global Executive (General Presbytery) and are willing to submit to their leadership as outlined in CLF’s constitution.

  2. They have been formally received by a CLF ordained elder who ensures that all required protocols are being observed as is practically possible.

  3. They submit to the tenets and governance outlined CLF’s constitution.

  4. They acknowledge their membership of CLF on their website, letterheads, formal documents and include the CLF name in all their publicity where appropriate.

  5. They have their own pastor/ leader and are submitted to the CLF Global Executive and the CLF national board of elders based in that country.

  6. They are financially responsible for all their affairs and are willing to fulfil their financial obligations to CLF central fund in their respective countries:

A recommended 10% of tithes from all local Churches in each nation to be sent to the indigenous national CLF central fund within that nation.

  1. They have a formal membership of 15-35 or more adults.

Where a Church is in a community with less than 100 people, it will be up to the discretion of the overseeing CLF ordained Elder to recognise them as a CLF Church.

Formal members of a CLF Church are those members who have completed CLF’s membership orientation course and have received the right-hand of fellowship.

Until the above are in place, groups looking for CLF membership may function as a multisite or satellite Church of an already established CLF Church. They should operate under the legal status of that CLF Church providing them spiritual cover and oversight. They would not need to register as a charity or any other form of legal entity. This is so as to avoid the associated administrative responsibilities.

• Benefits to being part of the CLF family of Churches and ministries

CLF exists to fulfil the Great Commission and see the body of Christ worldwide built up. Being part of this family of Churches and ministries enables a unique access to the following benefits:

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

• CLF’s Global Structure and Governance

All CLF Churches and ministries are responsible for their own legal, financial and administrative affairs. However CLF has a constitution that acts as a guide and governing document for all our Churches and ministries.

CLF Churches and ministries are inter-dependent autonomous self-governing Churches and ministries under the apostolic oversight of the CLF Global Executive.

CLF Global Executives:

The Global Executive administrates its apostolic responsibilities through the charity City Faith Ministries Trust (CFMT) which acts as the legal body responsible for CLF UK and Global administrative initiatives and finances.

The Global Executive is legally and financially accountable to CFMT Trustee Board, which is responsible for the legal, administrative and financial affairs of City Faith Ministries Trust (CFMT). The Trust Board currently consists of:

The CFMT Trustee Board is spiritually accountable to the apostolic oversight of CLF Global Executive. Further information about CFMT and CLF is detailed in CLF’s constitution.

(Trustee /Treasurer)

........................... 30th March 2022

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

INDEPENDENT EXAMINER’S REPORT

I report to the trustees on my examination of the accounts of the City Faith Ministries Trust (the Trust) for the year ended 31st December 2021.

Responsibilities and basis of report

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I am qualified to undertake the examination by being a qualified member of the Chartered Association of Certified Accountants (ACCA) and Fellow of the Association (FCCA).

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Dr Olu Olasode FCCA Chartered Certified Accountant TL First Accountants Limited TL First Limited

Date: 30th March 2022

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

STATEMENT OF FINANCIAL ACTIVITIES
INCOMING RESOURCES
Grants and Donations (including Gift Aids)
Investment income
Other Incoming Resources
Total Incoming Resources
RESOURCES EXPENDED
Costs of Activities in Furtherance of the
Company’s Objects
Charitable Activities
Governance Costs
Total Resources Expended
Net Incoming / (Outgoing) Resources
Total Funds Brought Forward
Reserves Adjustments for Bank Balances
Total Funds Carried Forward		 2021
2021
2021
2020
Restricted
Unrestricted
Total
Total
£
£
£
£
341,546
341,546
381,380
0
0
0
60,162
60,162
39,752
401,708
401,708
421,132
376,661
376,661
367,072
2,068
2,068
11,794
378,729
378,729
378,856
22,979
22,979
42,276
508,484
508,484
471,201
2,119
2,119
(4,993)
533,582
533,582
508,484

There were no recognised gains or losses for the year, other than those included in the Statement of Financial Activities.

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

BALANCE SHEET
FIXED ASSETS(Note 5)
CURRENT ASSETS
Debtors
Cash and Bank
CURRENT LIABILITIES
Creditors- within one year (Note 7)
NET CURRENT ASSETS
Creditors– Not within one year (note 8)
NET ASSETS
CAPITAL AND RESERVES
Restricted Funds
Unrestricted Funds
Reserves
NET ASSETS		 2021
£
-
352,048
(19,478)		 2021
£
264,916
332,570
0		 2020
£
140
322,657
(79,697)		 2020
£
265,384
243,100
0
597,486 508,484
533,582
63,904		 508,484
597,486 508,484

Approved by the Board of Trustees on 30th March 2022 and signed on their behalf

------------------------------------------------------

Trustee

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

NOTES TO THE FINANCIAL STATEMENTS

1. BASIS OF PREPARATION

1.1. Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with the Statement of Recommended Practice: 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) issued on 16 July 2014 and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

1.2. Going Concern

The charity is a going concern and the accounts have been prepared on a going concern basis.

1.3. Change of accounting policy

There is no change of accounting policy during the period.

1.4. Changes to accounting estimates

There is no change to accounting estimates during the period

1.5. Material prior year adjustments

There are no material prior year adjustments during the period.

2. ACCOUNTING POLICIES

2.1. Income

Recognition of These are included in the Statement of Financial Activities (SoFA) when: income

There has been no offsetting of assets and liabilities, or income and expenses, Offsetting unless required or permitted by the FRS 102 SORP or FRS 102. Grants and Grants and donations are only included in the SoFA when the general income donations recognition criteria are met (5.10 to 5.12 FRS102 SORP).

In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).

Legacies Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.

Government The charity has received government grants in the reporting period grants

Gift Aid receivable is included in income when there is a valid declaration Tax reclaims on from the donor. Any Gift Aid amount recovered on a donation is considered to donations and be part of that gift and is treated as an addition to the same fund as the initial gifts donation unless the donor or the terms of the appeal have specified otherwise.

Contractual income and This is only included in the SoFA once the charity has provided the related performance goods or services or met the performance related conditions. related grants Donated goods are measured at fair value (the amount for which the asset Donated goods could be exchanged) unless impractical to do so.

The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution.

Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'.

Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable.

Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.

Donated Donated services and facilities are included in the SOFA when received at the services and value of the gift to the charity provided the value of the gift can be measured facilities reliably. Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA. Support costs The charity has incurred expenditure on support costs. The value of any voluntary help received is not included in the accounts but is Volunteer help described in the trustees’ annual report. Income from This is included in the accounts when receipt is probable and the amount

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

interest, receivable can be measured reliably. royalties and dividends Income from Membership subscriptions received in the nature of a gift are recognised in membership Donations and Legacies. subscriptions

Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.

Settlement of Insurance claims are only included in the SoFA when the general income insurance recognition criteria are met (5.10 to 5.12 FRS102 SORP) and are included as claims an item of other income in the SoFA. Investment This includes any realised or unrealised gains or losses on the sale of gains and losses investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

2.2. Expenditure and Liabilities

Liability Liabilities are recognised where it is more likely than not that there is a legal recognition or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Support costs have been allocated between governance costs and other Governance and support. Governance costs comprise all costs involving public accountability support costs of the charity and its compliance with regulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Where the charity gives a grant with conditions for its payment being a Grants with specific level of service or output to be provided, such grants are only performance recognised in the SoFA once the recipient of the grant has provided the conditions specified service or output. Grants payable Where there are no conditions attaching to the grant that enables the donor without charity to realistically avoid the commitment, a liability for the full funding performance obligation must be recognised. conditions Redundancy cost The charity made no redundancy payments during the reporting period. Deferred income No material item of deferred income has been included in the accounts. The charity has creditors which are measured at settlement amounts less any Creditors trade discounts A liability is measured on recognition at its historical cost and then Provisions for subsequently measured at the best estimate of the amount required to settle liabilities the obligation at the reporting date

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CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

Basic financial instruments

The charity accounts for basic financial instruments on initial recognition as per paragraph 11.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP.

2.3. Expenditure and Liabilities

Tangible fixed These are valued at cost and capitalised if they can be used for more than one assets for use year, and cost at least £1,000 by charity

The charge for depreciation is calculated to write off the cost of the fixed assets over their useful lives on the following bases:

Office & Musical Equipment 25% on the reducing balance Furniture & fittings 25% on the reducing balance Motor Vehicles 25% on the reducing balance Freehold Office 1% on the Straight Line Method

Assets are depreciated from the time at which they are brought into use.

Intangible The charity has intangible fixed assets, that is, non-monetary assets that do not fixed assets have physical substance but are identifiable and are controlled by the charity through custody or legal rights. The amortisation rates and methods used are disclosed in note 9.5

They are valued at cost. Heritage assets The charity has heritage assets, that is, non-monetary assets with historic, artistic, scientific, technological, geophysical or environmental qualities that are held and maintained principally for their contribution to knowledge and culture. The depreciation rates and methods used as disclosed in note 9.6.1.4.

They are valued at cost.

Investments Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments.

Stocks held for sale as part of non-charitable trade are measured at the lower Stocks and or cost or net realisable value. work in progress Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock.

Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract.

22

CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other Debtors consideration expected to be received.

Current asset investments

The charity has has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on deposit and cash equivalents with a maturity date of less than one year held for investment purposes rather than to meet short term cash commitments as they fall due.

They are valued at fair value except where they qualify as basic financial instruments.

3. GRANTS & DONATIONS

23

CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

Donation (including gift aid)
Gift Aid (Accrual)
4. RESOURCES EXPENDED
Analysis of Resources Expended
Direct Costs:
Services & Events
Departmental /Project Support
Evangelism & Missions
Staff Costs
Indirect Costs:
Office and Admin Costs
Governance Cost
Total Resources Expended
5. FIXED ASSETS
COST
At 1 January 2021
Additions
Disposals
At 31 December 2021
DEPRECIATION
Accumulated Depreciation
Charge for the year
At 31 December 2021
NET BOOK VALUE
At 31 December 2020
At 31 December 2021		 Donation (including gift aid)
Gift Aid (Accrual)
4. RESOURCES EXPENDED
Analysis of Resources Expended
Direct Costs:
Services & Events
Departmental /Project Support
Evangelism & Missions
Staff Costs
Indirect Costs:
Office and Admin Costs
Governance Cost
Total Resources Expended
5. FIXED ASSETS
COST
At 1 January 2021
Additions
Disposals
At 31 December 2021
DEPRECIATION
Accumulated Depreciation
Charge for the year
At 31 December 2021
NET BOOK VALUE
At 31 December 2020
At 31 December 2021		 2021
2021
2021
2020
Restricted
Unrestricted
Total
Total
£
£
£
£
-
341,546
341,546
381,380
-
-
-
-
341,546
341,546
381,380
Cost of Charitable
Activities
Governance
Cost
Total 2021
Total 2020
18,189
18,189
30,925
46,895
46,895
4,930
65,854
65,854
73,956
199,031
-
139,031
166,097
329,969
-
329,969
275,908
46,692
46,692
91,154
-
2,068
2,068
11,794
46,692
2,068
48,760
102,948
376,661
2,068
378,729
378,856
Freehold
Office
Furniture &
Fittings
Mus./Office
Equipment
Motor
Vehicle
Total
£
£
£
£
£
301,742
11,485
105,687
12,151
431,065
301,742
11,485
105,687
12,151
431,065
36,358
11,485
105,687
12,151
165,681
468
468
36,826
11,485
105,687
12,151
166,149
265,384
0
0
0
**265,384 **
264,916
0
0
0
264,916

24

CHRISTIAN LIFE FELLOWSHIP FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2021

6. DEBTORS- falling due within one year 2021 2020
£ £
Loan - 140
7. CREDITORS- falling due within one year 2021 2020
£ £
Other Creditors & Accruals 15,450 75,164
Credit Cards 4,028 4,533
19,478 79,697

25