OpenCharities

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

2021-03-31-accounts

Trustees’ Annual Report for the period

From 1[st] April 2020 Period start date To 31[st] March 2021 Period end date

Charity name: Living Waters Pentecostal Church Paignton

Charity registration number: 1050312

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 LWC reaches out and serves people in the
community, to advance the Christian faith
in such ways and in such parts of the
United Kingdom or the world as the Church
Council from time to time may think fit;
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 and
1.19		 Our vibrant congregation is made up of
people from different backgrounds, ages
and cultures. We are united by a common
goal to worship Jesus, live out our Christian
faith and be a positive and giving influence
in our area. Our goal is to intentionally
equip people with the Word of God.
The Church Upgrade, Repairs and Property
Maintenance are detailed in the section
Achievements and Performance and
totalled £ 7,812.01
We are committed to transforming the
communities of Preston, Paignton, Torbay
and beyond by playing our part within the
community:
•
Reaching out via the PlayDates
weekly activity, a parents and
toddler group catering for new-born
until they start school.
•
Weekly Foodbank, offering vital
support to people in crisis, run by
Volunteers to for the benefit of the
community, unemployed and the
homeless, open to all.
•
Public benefits are reported on
throughout this Annual Report.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity		 Para 1.18 LWC advances Christianity through:
•
the provision of a place of worship
in person and online,

1

Commission on public
benefit		 •
providing a moral and ethical
framework
•
carrying out missionary, outreach
and community work.
•
care for those who are in need of
pastoral support
•
running regular programmes for the
spiritual and moral education of
Children and Youths.
Additional information (optional)
You may choose to include further statements		 where relevant about:
SORP reference
Policy on grant making Para 1.38 The Trustees apply the funds of LWC at
their discretion and in accordance with the
charitable purposes and objectives of the
charity.
Policy on social investment
Contribution made by
volunteers		 Para 1.38 Our charity has received incredible support
from our Volunteers who have responded
promptly and with warm hearts, despite
trying circumstances.
LWC volunteers always play a very vital
role and used their range of skills e.g.,
Accountancy, Administration, Cleaning,
Management, Health & Safety,
Safeguarding, Hospitality Management,
Musicians, Teaching and technical
knowledge for the benefit of the community
and the church.

Achievements and Performance

SORP reference
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 The last year has been noticeable by the
exceptional challenges posed by the
COVID-19 pandemic.
The main achievements in the last financial
year 2020- 2021 were the ongoing
charitable works of Living Waters Church
despite the numerous restrictions and aims
and objectives were met while observing
Covid rules.
We continued to operate despite
uncertainty and disruptions and multiple
periods of lockdown:
1. Phase 1 - First national lockdown
March 2020 to June 2020
2. Phase 2 - Minimal lockdown
restrictions June 2020 - July 2020
3. Phase 3 - Reimposing restrictions in
September 2020, the three-tier
system

2

  1. Phase 4 - Reintroduction 5[th] November 2020 second lockdown, support bubbles only 5. Phase 5 - Reintroducing of the tier system 2[nd] December 2020 6. Phase 6 -The third national lockdown 6[th] January 2021 7. Phase 7-– phased exit out of lockdown 8[th] March 2021 Despite these circumstances arrangements were put in place to function throughout those 12 months in person when restrictions were lifted and/or online via Zoom meetings, LWC remained open and available.

In order to ensure a “Covid secure” and safe environment two Sunday Morning services (identical) were provided at 9.30 and 11.30 am when permitted – however services could also be accessed online. Much consideration was given to ongoing communication with the congregation and additional and extensive Risk Assessments were completed to ensure the Health and Safety of the public.

Extensive LWC Risk Assessments :

• Pre-Booking systems via Eventbrite
to adhere to the government’s
instructions re: Track and Trace
• Cleaning and preparation of the
building
• Seating arrangements and signage
• Training of staff and volunteers re
PPE – Personal Protective
Equipment
• Sanitising equipment, PA systems
• Traffic flow –protocols with clearly
marked areas, protective screens
• Structured Enter/Exit system to
ensure Social Distancing rules were
adhered to.
Refurbishment and internal
improvements

The various lockdown periods were utilised to embark on improving and upgrading the LWC Church Building.

3

installation of dry flow air sterilizers.
• Additional cleaning service team
volunteers were added to support
additional disinfecting efforts in
between Sunday Services, High-
touch areas (doors, restrooms,
auditorium, youth, and children’s
areas, computers) Communal
equipment, including musical
instruments
• Painting included all external visible
walls.
• Upgrading the signages and logo on
the outside walls to enhance
visibility to the public.
Statistics:
• Total number on church record: 267
• Total men: 88
• Total women: 117
• Average number of attendances:
100
• Number of children on church
record: 40
• Number of youths on church record:
22
LWC went online in increased ways:
• Live streaming of Sunday Services.
• The building was closed at times
according to government guidelines,
but the church was still open online.
The Live Streaming was made
available via Facebook , You Tube
or the LWC website.
• LWC made use of technology
through online groups to build
relationships, offer support and to
deliver pastoral care, ensuring
spiritual, emotional and physical
health.
• Life Groups on Zoom
• Social meetings and gatherings on
Zoom, e.g., sharing a Shabbat meal
• New What’s App groups to facilitate
communication, Instagram and You
Tube
• Changing the weekly Printed News
to E-mail News
• Zoom group meetings for Youth and
the Children’s Ministry
• Those not involved in Life Groups
were allocated to small Hubs, virtual
groups of up to 10 people to

4

maintain relationships and
encouragement where possible.
• Establishing a private Facebook
Community page to promote
interaction and contact.
• Leaders were offered dates and
times for 1:1 support meetings and
Catch-Up sessions with the Pastors.
• The Annual General Meeting was
not postponed and was held via
Zoom with everyone having the
opportunity to raise questions in
relation to the functioning of the
charity.
• Towards the end of the year all
Leaders were invited by the Senior
Pastors to a Zoom Meeting
addressing the future needs of the
church and the community during
March 2021 and setting a fresh
vision, encouragement and
reassurance via “LWC Forward 21”.
LWC Prayer Community
• Even though it was not possible to
meet physically, it was essential that
we continued to be the Praying
Community that God has called us
to be.
• Prayer Services were live streamed
on Wednesday evenings, people
were able to join in from anywhere.
• People left prayer requests and
praise reports using a number of
different sources, including the
Pastoral Care Team.
• Prayer points and needs were
additionally posted on Prayer 365, a
Facebook Prayer Group
• Early Morning Prayer Meetings
Monday – Friday 6 am -7 am
• Thursdays Prayer for Israel 10.30
am – 11.30 am
• 21 days of Fasting and Prayer with
h Nights of Prayer
Online Teaching with Training Manuals
open to everyone:
• School of Evangelism – 5 weeks
• School of the Holy Spirit – 5 weeks
• School of the Prophetic – 7 weeks

5

Joint Church Events
Our church joined a Global Day of Prayer
and Repentance from Jonathan Cahn in
America in September “The Return” with
international Christian Leaders from across
the world.
LWC was registered as an official venue
with live streams and people joined us from
all around Devon from different churches.
Co-operation with the local community.
•
The Christmas period has promoted
a greater cohesion between local
participating churches and
denominations and resulted in a
joint open-air event in a car park
“Drive in Church” , the car park was
made available by the local
authority Torbay Council.
Website Statistics
The LWC website statistics from April 2020
to March 2021 showed large spikes in
viewing figures which correlated directly to
the 1stand 6thPandemic lockdowns in May
2020 and December 2020 reinforcing the
importance of LWC’s online presence.
During the Pandemic we faced many
challenges, and the impact has resulted in
a decline in ‘in person church attendance’
and a financially a reduced income,
however many more have engaged with us
online and we shall continue to be a church
that is still welcoming to all and nurture new
faith.

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

Achievements against
objectives set		 Para 1.41
Performance of fundraising
activities against objectives
set		 Para 1.41 The weekly or monthly money given
voluntarily meets the monthly and yearly
church financial budget and allows LWC to
be generous in our giving to various
ministries and outreaches, e.g., the weekly
LWC Foodbank – no referrals needed.
LWC is a tithing church and applies the
tithing principles also to church accounts.
The first 10% of all LWC monthly income
therefore is donated monthly to a number
of different missions and charities.

6

The furlough scheme was introduced in
March 2020. LWC was eligible and took
advantage of the Government’s Job
Retention Scheme for one employee,
covering 80% of employee’s usual monthly
wage costs.
Investment performance
against objectives		 Para 1.41 None
Financial Review
Review of the charity’s
financial position at the end
of the period		 Para 1.21 The financial position of the charity at 31
March 2021 and comparatives for the prior
period, as more fully detailed in the		 Commented [AC1]:
accounts, can be summarised as follows: -
Income £131,056 (2020: £148,469)
Unrestricted Revenue Funds available for
the general purposes of the charity
£299,729 (2020: £305,310)
Restricted Revenue Funds £12,736. (2020:
£13,814)
Total Funds £312,465 (2020: £319,123)
Total income on unrestricted funds was
£129,460 restricted funds of £1,568 was
also received, and are detailed in the
financial statements. The total income
received including tax recoverable reduced
by 11% this is due to the reduction in
general donations.
The net result was an excess of
expenditure over income by £5,581 on
unrestricted funds.
It was expected that the charity may have
experienced greater losses during the year
due to difficult circumstances people could
have faced.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 The Trustees agree that a Reserves Policy
is required in order to plan responsibly for
times when funds may become low in order
that the church can continue to meet its
financial and contractual obligations during
this period.
The Policy is reviewed annually and the list
of assets updated and the amount of
reserve reviewed to ensure that this is still
applicable to meet the commitments of the
church.
Amount of reserves held Para 1.22 £ 13,000
Reasons for holding zero
reserves		 Para 1.22 -
Details of fund materially in
deficit		 Para 1.24 No funds are materially in deficit.
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23 -
Additional information (optional)
You may choose to include further statements		 where relevant about:
The charity’s principal
sources of funds (including
any fundraising)		 Para 1.47 All regular payments are regularly reviewed
to satisfy the Trustees that the relevant
person or organisation is applying the funds
for charitable purposes and in accordance
with the objects of our trust deed.
All requests for direct assistance are
considered within the same criterion before
any payment is made. LWC teaches biblical
tithing and it is still God’s design for
supporting the ministry and reaching the
world with the Gospel.
LWC encourages all people who consider
LWC their home church to contribute. The
money given on a Sunday voluntarily meets
the monthly and yearly church financial
budget and allows LWC to be generous in
our giving to various ministries and
outreaches.
All salaries, building maintenance,
equipment, utility bills, church supplies and
programs are paid for out of whatever
comes in and is collected weekly or monthly
through cash, cheques or standing orders
via the bank.
Financial reports are made available to
everyone during the yearly Annual General
Meetings.
The Trustees are responsible for preparing
the Trustees' Report and the financial
statements in accordance with applicable
law and United Kingdom Accounting
Standards (United Kingdom Generally
Accepted Accounting Practice)
Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46 The COVID pandemic affected the charity
financially. The donations received in the
year ended 31 March 2021 of £111,613
(2020: £130,738), a reduction of 14%.
Although donations received reduced,
people have been very generous in there
giving and many have changed to giving on
line or by Bacs payments rather than cash
and cheques.
However, there were some obvious cost

8

savings as a result of the church being
closed during lockdown, and we were able
to access further savings by furloughing
staff under the Coronavirus Job Retention
Scheme, tight cost controls, and reduced
activities due to the COVID restrictions.
A description of the principal
risks facing the charity		 Para 1.46 •Reduced Income and financial
sustainability during the Covid
Pandemic
•An increasingly complex
regulatory environment diverting
the focus from LWC’s aims and
objectives.
•
The complex regulation and the
expectations of the Information
Commissioner’s Office in relation to
Personal Data Protection and
compliance with GDPR - General
Data Protection Regulation

Structure, Governance and Management

Description of charity’s
trusts:		 Trust Deeds
Type of governing document
(trust deed, royal charter)
Para 1.25		 Model Constitution with Trust Deed for
Local Assemblies of God, adopted by
special resolution of Living Waters Church
1050312, Document Ref: 2153210951.
How is the charity
constituted?
(e.g., unincorporated
association, CIO)		 Para 1.25 Unincorporated Association
The Church Council is chaired by the
Senior Pastor, the Trustees manage and
control the Church and its property and
funds.
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 Trustees are recruited according to Charity
Commission guidelines e.g., building on
skills and experience of existing Trustees.
The Church Council appoint Trustees and
meet at least 4x per year and are the
governing body of the Living Waters
Church Charity and it holds ultimate power
and responsibility for all matters concerning
the Charity.
The Trustees are responsible for:
•
Directing the affairs of the Charity
•
Ensuring that it is well run and
solvent
•
Delivering the charitable outcomes
for the benefit of the public for which
the Charity was set up

Additional information (optional)

9

You may choose to include further statements You may choose to include further statements where relevant about:
Policies and procedures
adopted for the induction
and training of trustees		 Para 1.51 The LWC Safeguarding Policy is based on
the Ten Safeguarding Standards “A
framework for creating safer places”
published by “Thirtyone: eight”,
Assemblies of God and the Multi-agency
Safeguarding Hub, Torbay Council.
The charity’s organisational
structure and any wider
network with which the
charity works		 Para 1.51 LWC Trustees provide leadership to the
charity and make sure it is doing what it set
out to with the help of the Charity
Commissions’ SORP - Statement of
Recommended Practice.
Relationship with any
related parties		 Para 1.51 Assemblies of God UK

Reference and Administrative details

Charity name Living Waters Pentecostal Church
Other name the charity uses -
Registered charity number 1050312
Charity’s principal address 358 Torquay Road
Paignton
TQ3 2DQ

Names of the charity trustees who manage the charity

Trustee name
1 Tony Williams
2 Su Williams
3 Mike Courtenay
4 Allan Wardle
5 RoySullivan		 Office (if any) Dates acted if not for whole
year		 Name of person (or
body) entitled to
appoint trustee (if
any)
Chairman Trustees
Trustees
Trustees
24thAugust 2020 Trustees
24thAugust 2020 Trustees

Funds held as custodian trustees on behalf of others

Description of the assets None held in this capacity

Names and addresses of advisers

ames and addresses of advisers ames and addresses of advisers ames and addresses of advisers
Type of
adviser
Name
Address
Accounts Tina Casling 68 Lime Tree Walk Newton Abbot, TQ124LF

Name of chief executive or names of senior staff members

10

Tony Williams Senior Minister

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)
Position (eg Secretary,
Chair, etc)
Date
Tony Williams


Chair
22ndNovember 2021
22ndNovember 2021

11

Charity registration number: 1050312

Living Waters Pentecostal Church

known as Living Waters Assemblies of God

Annual Report and Financial Statements for the Year Ended 31 March 2021

Vincent & Co Accountants

37 Shiphay Lane Torquay Devon TQ2 7DU

Living Waters Pentecostal Church known as Living Waters Assemblies of God

Contents

Independent examiner's report 1
Statement of financial activities 2
Balance Sheet 3
Notes to the financial statements 4 to 9
Statement of financial activities per fund 10 to 11
Statement of financial activities comparatives 12

Independent Examiner's Report to the Trustees of

Living Waters Pentecostal Church

I report on the accounts of the Trust for the year ended 31 March 2021.

Respective responsibilities of trustees and examiner

The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year undersection 144(2) of the Charities Act 2011(the 2011 Act)and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

.........................................

Vincent & Co Accountants

4th November 2021

37 Shiphay Lane Torquay Devon TQ2 7DU

Page 1

Living Waters Pentecostal Church known as

Living Waters Assemblies of God

Statement of Financial Activities for the Year Ended 31 March 2021

Note
Incoming resources
Incoming resources from generated funds
Donations and legacies
2
Income from other trading activities
3
Total incoming resources
Resources expended
Cost of operations and overhead expenditure:-
All funds expended
4
Total resources expended
Net movements in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
Total Funds
2021
Total Funds
2020
£
£
£
£
129,460
1,578
131,038
148,381
18
-
18
88
129,478
1,578
131,056
148,469
135,059
2,655
137,714
169,769
135,059
2,655
137,714
169,769
(5,581)
(1,077)
(6,658)
(21,300)
305,310
13,813
319,123
340,423
299,729
12,736
312,465
319,123

Page 2

Living Waters Pentecostal Church known as

Living Waters Assemblies of God

Balance Sheet as at 31 March 2021

2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 8 280,240 283,527
Current assets
Debtors 9 3,149 4,034
Cash at bank and in hand 32,116 35,397
35,265 39,431
Creditors: Amounts falling
due within one year 10 (3,040) (3,836)
Net current assets 32,225 35,595
Net assets 312,465 319,123
The funds of the charity:
Restricted funds 12,736 13,814
Unrestricted funds
Unrestricted income funds 299,729 305,310
Total charity funds 312,465 319,123

The financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities

Approved by the Board on 7th December 2021 and signed on its behalf by:

.........................................

Trustee:

Page 3

1

Living Waters Pentecostal Church known as

Living Waters Assemblies of God

Notes to Financial Statements for the Year Ended 31 March 2021

Accounting policies

The financial statements have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (Charities SORP FRSSE) (effective 1 January 2015) and applicable accounting standards.

The financial statements have been prepared under the historical cost convention. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members.

Fund accounting policy

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity. Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Further details of each fund are disclosed in note 13.

Incoming resources

Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Incoming resources from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate.

Resources expended

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when paid. Expenditure is generally recognised when it is incurred and is accounted for gross.

Fixed assets

Individual fixed assets costing £0 or more are initially recorded at cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Plant and machinery 20% reducing balance

Page 4

Living Waters Pentecostal Church known as

Living Waters Assemblies of God

Notes to Financial Statements for the Year Ended 31 March 2021

……….continued

Operating leases

Rentals payable under operating leases are charged in the statement of financial activities on a straight line basis over the lease term.

2 Donations and legacies

Job Rentention Grant
Interest on cash deposits
Committed giving
Gift Aid donations
Other
Income from other trading activities
Gift Aid tax reclaimed		 Unrestricted
Funds
£
Restricted
Funds
£
Total Funds
2021
£
Total Funds
2020
£
60,939
1,458
62,397
67,554
49,216
-
49,216
63,184
12,252
-
12,252
14,258
7,052
-
7,052
-
-
120
120
3,385
129,460
1,578
131,038
148,381
Unrestricted
Funds
£
Restricted
Funds
£
Total Funds
2021
£
Total Funds
2020
£
18
-
18
88
18
-
18
88

3 Income from other trading activities

Page 5

Living Waters Pentecostal Church known as Living Waters Assemblies of God

Notes to Financial Statements for the Year Ended 31 March 2021

……….continued

4 Expenditure on raising funds

Unrestricted Restricted Total Funds Total Funds
Funds Funds 2021 2020
Direct costs
Fundraising costs 7,996 - 7,996 7,520
Employment costs 73,570 - 73,570 84,205
Establishment costs 4,112 - 4,112 6,255
Repairs and maintenance 5,987 1,825 7,812 8,470
Telephone and fax 3,284 - 3,284 4,663
Computer expenses 1,106 - 1,106 1,010
Office expenses 3,494 - 3,494 5,894
Subscriptions and donations 11,716 - 11,716 9,365
Youth expenditure 513 - 513 8,620
Evangelism and Outreach expenditure 4,429 830 5,259 15,133
Sundry and other costs 2,371 - 2,371 6,480
Cleaning 4,085 - 4,085 2,329
Motor expenses 320 - 320 351
Accountancy fees 480 - 480 492
Legal and professional fees - - - 417
Bank charges 64 - 64 64
Loans written off - - - 2,150
Depreciation of tangible fixed assets 5,533 - 5,533 6,354
Advertising and website 5,999 - 5,999 -
135,059 2,655 137,714 169,769

5 Trustees'remuneration and expenses

Trustee Remuneration

Mr A Williams £ 42,139.00
Mrs S Williams £ 21,825.00

Net (outgoing)/incoming resources is stated after charging:

2021 2020
£
Depreciation of tangible fixed assets 5,533 6,354

6 Net (outgoing)/incoming resources

Page 6

Living Waters Pentecostal Church known as

Living Waters Assemblies of God

Notes to Financial Statements for the Year Ended 31 March 2021

……….continued

7 Employees' remuneration

The average number of persons employed by the charity (including trustees) during the year was as follows:

follows:
Charitable activities
The aggregate payroll costs of these persons were as follows:
Wages and salaries		 2021
No.
5
2021
£
73,570		 2020
No.
3
2020
£
88,758

Page 7

Living Waters Pentecostal Church known as Living Waters Assemblies of God

Notes to Financial Statements for the Year Ended 31 March 2021

……….continued

8 Tangible fixed assets

Freehold interest
in land and
buildings
(including
heritage assets)
£
258,110
-
258,110
-
-
-
258,110
258,110
9
Trade debtors
10
Prepayments and accrued income
Creditors: Amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income
Other debtors
As at 1 April 2020
Additions
As at 31 March 2021
Depreciation
As at 1 April 2020
Charge for the year
As at 31 March 2021
Net book value
As at 31 March 2021
As at 31 March 2020
Debtors
Cost		 Fixtures,
Fittings &
Equipment
£
Total
£
136,273
394,383
2,245
2,245
138,518
396,628
110,855
110,855
5,533
5,533
116,388
116,388
22,130
280,240
25,417
283,528
2021
£
2020
£
3,149
4,034
-
-
-
-
3,149
4,034
2021
£
2020
£
913
2,130
1,635
1,214
492
492
3,040
3,836

Page 8

Living Waters Pentecostal Church known as Living Waters Assemblies of God

Notes to Financial Statements for the Year Ended 31 March 2021

……….continued

11 Related parties

Controlling entity

The charity is controlled by the trustees.

12 Analysis of funds

Unrestricted funds
Other Funds
Restricted funds
General Funds		 At 1 April
2020
£
305,310
13,813
319,123		 Incoming
resources
£
129,478
1,578
131,056		 Resources
expended
At 31 March
2021
£
£
135,059
299,729
2,655
12,736
137,714
312,465

13 Net assets by fund

Unrestricted Total Funds Total Funds
Funds 2021 2020
£ £ £
Tangible assets 280,240 280,240 283,527
Current assets 35,265 35,265 39,431
Creditors: Amounts falling due within one year (3,040) (3,040) (3,836)
Net assets 312,465 312,465 319,123

Page 9

Living Waters Pentecostal Church known as Living Waters Assemblies of God

Statement of financial activities by fund Year Ended 31 March 2020

Incoming resources
Incoming resources from generated funds
Donations and legacies
Activities for generating funds
Total incoming resources
Resources expended
Costs of generating funds
Costs of generating voluntary income
Total resources expended
Net movements in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
income fund
2021
Unrestricted
income fund
2020
£
£
129,460
148,009
18
88
129,478
148,097
135,059
164,946
135,059
164,946
(5,581)
(16,849)
305,310
322,159
299,729
305,310

Page 10

Living Waters Pentecostal Church known as Living Waters Assemblies of God

Statement of financial activities by fund Year Ended 31 March 2021

……….continued
Incoming resources
Incoming resources from generated funds
Voluntary income
Activities for generating funds
Total incoming resources
Resources expended
Costs of generating funds
Costs of generating voluntary income
Total resources expended
Net movements in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Restricted
income fund
2021
Restricted
income fund
2020
£
£
1,578
372
-
-
1,578
372
2,655
6,073
2,655
6,073
(1,077)
(5,701)
13,813
19,514
12,736
13,813

Page 11

Living Waters Pentecostal Church known as Living Waters Assemblies of God

Statement of financial activities comparatives for the Year Ended 31 March 2021

Incoming resources
Incoming resources from generated funds
Donations and legacies
Activities for generating funds
Total incoming resources
Resources expended
Costs of generating voluntary funds
Total resources expended
Net movements in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
Total Funds
2020
£
£
£
148,009
372
148,381
88
-
88
148,097
372
148,469
164,946
6,073
171,019
164,946
6,073
171,019
(16,849)
(5,701)
(22,550)
322,159
19,514
341,673
305,310
13,813
319,123

Page 12

Charity registration number: 1050312

Living Waters Pentecostal Church

known as Living Waters Assemblies of God

Annual Report and Financial Statements for the Year Ended 31 March 2021

Vincent & Co Accountants

37 Shiphay Lane Torquay Devon TQ2 7DU

Living Waters Pentecostal Church known as Living Waters Assemblies of God

Contents

Independent examiner's report 1
Statement of financial activities 2
Balance Sheet 3
Notes to the financial statements 4 to 9
Statement of financial activities per fund 10 to 11
Statement of financial activities comparatives 12

Independent Examiner's Report to the Trustees of

Living Waters Pentecostal Church

I report on the accounts of the Trust for the year ended 31 March 2021.

Respective responsibilities of trustees and examiner

The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year undersection 144(2) of the Charities Act 2011(the 2011 Act)and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

.........................................

Vincent & Co Accountants

4th November 2021

37 Shiphay Lane Torquay Devon TQ2 7DU

Page 1

Living Waters Pentecostal Church known as

Living Waters Assemblies of God

Statement of Financial Activities for the Year Ended 31 March 2021

Note
Incoming resources
Incoming resources from generated funds
Donations and legacies
2
Income from other trading activities
3
Total incoming resources
Resources expended
Cost of operations and overhead expenditure:-
All funds expended
4
Total resources expended
Net movements in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
Total Funds
2021
Total Funds
2020
£
£
£
£
129,460
1,578
131,038
148,381
18
-
18
88
129,478
1,578
131,056
148,469
135,059
2,655
137,714
169,769
135,059
2,655
137,714
169,769
(5,581)
(1,077)
(6,658)
(21,300)
305,310
13,813
319,123
340,423
299,729
12,736
312,465
319,123

Page 2

Living Waters Pentecostal Church known as

Living Waters Assemblies of God

Balance Sheet as at 31 March 2021

2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 8 280,240 283,527
Current assets
Debtors 9 3,149 4,034
Cash at bank and in hand 32,116 35,397
35,265 39,431
Creditors: Amounts falling
due within one year 10 (3,040) (3,836)
Net current assets 32,225 35,595
Net assets 312,465 319,123
The funds of the charity:
Restricted funds 12,736 13,814
Unrestricted funds
Unrestricted income funds 299,729 305,310
Total charity funds 312,465 319,123

The financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities

Approved by the Board on 7th December 2021 and signed on its behalf by:

.........................................

Trustee:

Page 3

1

Living Waters Pentecostal Church known as

Living Waters Assemblies of God

Notes to Financial Statements for the Year Ended 31 March 2021

Accounting policies

The financial statements have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (Charities SORP FRSSE) (effective 1 January 2015) and applicable accounting standards.

The financial statements have been prepared under the historical cost convention. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members.

Fund accounting policy

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity. Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Further details of each fund are disclosed in note 13.

Incoming resources

Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Incoming resources from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate.

Resources expended

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding or constructive obligation on the PCC. The diocesan parish share is accounted for when paid. Expenditure is generally recognised when it is incurred and is accounted for gross.

Fixed assets

Individual fixed assets costing £0 or more are initially recorded at cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Plant and machinery 20% reducing balance

Page 4

Living Waters Pentecostal Church known as

Living Waters Assemblies of God

Notes to Financial Statements for the Year Ended 31 March 2021

……….continued

Operating leases

Rentals payable under operating leases are charged in the statement of financial activities on a straight line basis over the lease term.

2 Donations and legacies

Job Rentention Grant
Interest on cash deposits
Committed giving
Gift Aid donations
Other
Income from other trading activities
Gift Aid tax reclaimed		 Unrestricted
Funds
£
Restricted
Funds
£
Total Funds
2021
£
Total Funds
2020
£
60,939
1,458
62,397
67,554
49,216
-
49,216
63,184
12,252
-
12,252
14,258
7,052
-
7,052
-
-
120
120
3,385
129,460
1,578
131,038
148,381
Unrestricted
Funds
£
Restricted
Funds
£
Total Funds
2021
£
Total Funds
2020
£
18
-
18
88
18
-
18
88

3 Income from other trading activities

Page 5

Living Waters Pentecostal Church known as Living Waters Assemblies of God

Notes to Financial Statements for the Year Ended 31 March 2021

……….continued

4 Expenditure on raising funds

Unrestricted Restricted Total Funds Total Funds
Funds Funds 2021 2020
Direct costs
Fundraising costs 7,996 - 7,996 7,520
Employment costs 73,570 - 73,570 84,205
Establishment costs 4,112 - 4,112 6,255
Repairs and maintenance 5,987 1,825 7,812 8,470
Telephone and fax 3,284 - 3,284 4,663
Computer expenses 1,106 - 1,106 1,010
Office expenses 3,494 - 3,494 5,894
Subscriptions and donations 11,716 - 11,716 9,365
Youth expenditure 513 - 513 8,620
Evangelism and Outreach expenditure 4,429 830 5,259 15,133
Sundry and other costs 2,371 - 2,371 6,480
Cleaning 4,085 - 4,085 2,329
Motor expenses 320 - 320 351
Accountancy fees 480 - 480 492
Legal and professional fees - - - 417
Bank charges 64 - 64 64
Loans written off - - - 2,150
Depreciation of tangible fixed assets 5,533 - 5,533 6,354
Advertising and website 5,999 - 5,999 -
135,059 2,655 137,714 169,769

5 Trustees'remuneration and expenses

Trustee Remuneration

Mr A Williams £ 42,139.00
Mrs S Williams £ 21,825.00

Net (outgoing)/incoming resources is stated after charging:

2021 2020
£
Depreciation of tangible fixed assets 5,533 6,354

6 Net (outgoing)/incoming resources

Page 6

Living Waters Pentecostal Church known as

Living Waters Assemblies of God

Notes to Financial Statements for the Year Ended 31 March 2021

……….continued

7 Employees' remuneration

The average number of persons employed by the charity (including trustees) during the year was as follows:

follows:
Charitable activities
The aggregate payroll costs of these persons were as follows:
Wages and salaries		 2021
No.
5
2021
£
73,570		 2020
No.
3
2020
£
88,758

Page 7

Living Waters Pentecostal Church known as Living Waters Assemblies of God

Notes to Financial Statements for the Year Ended 31 March 2021

……….continued

8 Tangible fixed assets

Freehold interest
in land and
buildings
(including
heritage assets)
£
258,110
-
258,110
-
-
-
258,110
258,110
9
Trade debtors
10
Prepayments and accrued income
Creditors: Amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income
Other debtors
As at 1 April 2020
Additions
As at 31 March 2021
Depreciation
As at 1 April 2020
Charge for the year
As at 31 March 2021
Net book value
As at 31 March 2021
As at 31 March 2020
Debtors
Cost		 Fixtures,
Fittings &
Equipment
£
Total
£
136,273
394,383
2,245
2,245
138,518
396,628
110,855
110,855
5,533
5,533
116,388
116,388
22,130
280,240
25,417
283,528
2021
£
2020
£
3,149
4,034
-
-
-
-
3,149
4,034
2021
£
2020
£
913
2,130
1,635
1,214
492
492
3,040
3,836

Page 8

Living Waters Pentecostal Church known as Living Waters Assemblies of God

Notes to Financial Statements for the Year Ended 31 March 2021

……….continued

11 Related parties

Controlling entity

The charity is controlled by the trustees.

12 Analysis of funds

Unrestricted funds
Other Funds
Restricted funds
General Funds		 At 1 April
2020
£
305,310
13,813
319,123		 Incoming
resources
£
129,478
1,578
131,056		 Resources
expended
At 31 March
2021
£
£
135,059
299,729
2,655
12,736
137,714
312,465

13 Net assets by fund

Unrestricted Total Funds Total Funds
Funds 2021 2020
£ £ £
Tangible assets 280,240 280,240 283,527
Current assets 35,265 35,265 39,431
Creditors: Amounts falling due within one year (3,040) (3,040) (3,836)
Net assets 312,465 312,465 319,123

Page 9

Living Waters Pentecostal Church known as Living Waters Assemblies of God

Statement of financial activities by fund Year Ended 31 March 2020

Incoming resources
Incoming resources from generated funds
Donations and legacies
Activities for generating funds
Total incoming resources
Resources expended
Costs of generating funds
Costs of generating voluntary income
Total resources expended
Net movements in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
income fund
2021
Unrestricted
income fund
2020
£
£
129,460
148,009
18
88
129,478
148,097
135,059
164,946
135,059
164,946
(5,581)
(16,849)
305,310
322,159
299,729
305,310

Page 10

Living Waters Pentecostal Church known as Living Waters Assemblies of God

Statement of financial activities by fund Year Ended 31 March 2021

……….continued
Incoming resources
Incoming resources from generated funds
Voluntary income
Activities for generating funds
Total incoming resources
Resources expended
Costs of generating funds
Costs of generating voluntary income
Total resources expended
Net movements in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Restricted
income fund
2021
Restricted
income fund
2020
£
£
1,578
372
-
-
1,578
372
2,655
6,073
2,655
6,073
(1,077)
(5,701)
13,813
19,514
12,736
13,813

Page 11

Living Waters Pentecostal Church known as Living Waters Assemblies of God

Statement of financial activities comparatives for the Year Ended 31 March 2021

Incoming resources
Incoming resources from generated funds
Donations and legacies
Activities for generating funds
Total incoming resources
Resources expended
Costs of generating voluntary funds
Total resources expended
Net movements in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
Total Funds
2020
£
£
£
148,009
372
148,381
88
-
88
148,097
372
148,469
164,946
6,073
171,019
164,946
6,073
171,019
(16,849)
(5,701)
(22,550)
322,159
19,514
341,673
305,310
13,813
319,123

Page 12