**REGISTERED CHARITY NUMBER: 1054351**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **FOR**
## **LEA VALLEY CHURCH**
Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
**LEA VALLEY CHURCH**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2020**
||**Page**||||
|---|---|---|---|---|
|**Report of the Trustees**||1|to|3|
|**Independent Examiner's Report**|||4||
|**Statement of Financial Activities**|||5||
|**Balance Sheet**|||6||
|**Notes to the Financial Statements**||7|to|13|
|**Detailed Statement of Financial Activities**||14|to|15|
**LEA VALLEY CHURCH**
**REPORT OF THE TRUSTEES for the Year Ended 31 December 2020**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. 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 Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES Public benefit**
The Lea Valley Church exists to build a community of Christian believers who will impact Waltham Abbey, the Lea Valley region, London, the nation and the word beyond (Acts 1:8).
When planning our activities for the year and the services on offer to the local community, the Trustees have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular, we try to encourage ordinary people to live out their faith in every area of their lives as part of the Lea Valley Church community and the wider community. We also try to encourage people within the local community to find faith through attending our meetings and establishing friendships. Many within our church community have found spiritual, emotional and physical healing and we are keen that others in the local community receive the same benefits.
The great majority of the charity's meetings and events are open to the public. Indeed, it is a key aim of the charity to attract newcomers into the various activities of the church so that they can participate in and benefit from all that the church has to offer.
The charity values the diversity currently evidenced by the church membership and the wider community of those who interact directly with and is hopeful of seeing the diverse demographic of the Waltham Abbey and the Lea Valley Region fully reflected in the church.
## **Volunteers**
The church council and the holding trustees realise the huge amount of time given by volunteers to help the church run. The financial accounts cannot truly show the level of gifts in terms of time rather than money that these hours represent. However, they greatly acknowledge all the work volunteers contribute and would like to thank all of them.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
It was a challenging year for the charity. COVID-19 restrictions which came into effect mid-March 2020 created an entirely different landscape for us as a church. Sunday meetings could not be held from that first lockdown and this lasted until spring of 2021. Very quickly we established an on-line presence for our Sunday services and encouraged zoom or Microsoft Teams meetings for other groups within our church to stay connected. In line with all Government restrictions we were unable to hold community focussed groups within the week.
## **FINANCIAL REVIEW**
## **Financial position**
The attached financial statements summarise the incoming and outgoing resources for the year together with the Balance Sheet as at 31st December 2020.
Income has decreased from £217,858 to £210,803, however this is a positive reflection of online giving amidst the current COVID-19 financial challenges faced by many. Expenditure also decreased from £211,941 to £192,628 reflecting lower overhead costs because the main church and church hall were largely unused for most of the year. This resulted in being able to show a slight accounting surplus for the year of £18,175 although cash reserves have remained fairly static.
The church has honoured all financial obligations and we are very grateful to every giver who has supported Lea Valley Church in what is arguably, the most difficult year we have faced so far. Going forwards, this bodes well for the future and we trust that God will continue to build His Church in our locale of which we are a part.
## **Investment policy and objectives**
We do not specifically give grants to individuals or invest church funds in shares, stocks or money making schemes.
## **Reserves policy**
The trustees and church council have agreed that it would be prudent to have three months working capital available. At the year end the available general reserves exceeded this.
Page 1
Other reserves are held in property which is used for the charitable objectives of the church.
## **FUTURE PLANS**
Lea Valley Church continues to change and grow. It will continue to require the help and commitment of many
volunteers to make it a success but we know that it is exactly what God has planned for us and we are grateful for the continuing positive impact the church has on Waltham Abbey. Once national lockdown and all Government restrictions are lifted we plan to press on with being a good, Godly and positive presence in our community. This means we will work to create a safe environment where our congregation and guests can participate and return to physical meetings and activities with confidence.
Page 1
**LEA VALLEY CHURCH**
## **REPORT OF THE TRUSTEES for the Year Ended 31 December 2020**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
In late 2009 we updated our organisational structure to the New Model Deed for Local Assemblies of God in Great Britain and Ireland.
## **Recruitment and appointment of new trustees**
The Church Council are now the Trustees of the Charity under the new AOG Model Deed and are appointed in line with the process set out in the Model Deed. Holding Trustees are appointed by the Church Council and the Chairman of the Church Council has the casting vote if required, although in all circumstances to date, the appointments have all been unanimous.
Trustees and Holding Trustees are offered training as required.
## **Wider network**
The church is affiliated to the Assemblies of God (AOGUK) and Timothy and Hayley Gutmann (Senior Pastors) and Geoffrey Ace (Associate Pastor) are recognised and ordained ministers with the Assemblies of God UK. The church is also a member of the Evangelical Alliance.
## **Related parties**
The church employees are: Timothy and Hayley Gutmann as Senior Pastors and Geoffrey and Tanith Ace as Associate Pastors. All pastors are part-time at present and currently they are the only paid employees.
## **Risk management**
The church H&S risk assessment was updated during 2016 identifying possible risks and associated controls to reduce those risks.
We will revisit the risk assessment especially in the light of COVID-19 to update as appropriate and ensure all suggested controls have been adopted. Specifically, protection of the children in our care is paramount and will never knowingly be compromised.
It should be noted that it is the policy of this church to adhere to our Children's Protection Policy Document which we will enforce if circumstances require. A copy is available for perusal if required.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1054351
## **Principal address**
Monkswood Avenue Waltham Abbey Essex EN9 1LB
## **Trustees**
Denise Fitch Geoff Ace Tanith Ace Michael Fitch (Deceased 15 November 2020) Ian Liddle Hayley Gutmann Tim Gutmann
## **Independent Examiner**
Maurice Brindley BSc FCA Institute of Chartered Accountants in England and Wales Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
## **Church Council**
Page 2
Ceoff Ace Ichairmanl
Tanith (Bol Ace
Page 2
Michael Fitch (Deceased 15 November 2020) **LEA VALLEY CHURCH**
## **REPORT OF THE TRUSTEES for the Year Ended 31 December 2020**
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.............................................................................. Geoff Ace - Trustee
Page 3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEA VALLEY CHURCH**
## **Independent examiner's report to the trustees of Lea Valley Church**
I report to the charity trustees on my examination of the accounts of Lea Valley Church (the Trust) for the year ended 31 December 2020.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material 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 Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts 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 accounts to be reached.
Maurice Brindley BSc FCA Institute of Chartered Accountants in England and Wales Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
Date: .............................................
Page 4
**LEA VALLEY CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2020**
|Unrestricted
Restricted
funds
funds
Notes
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
174,398
**Charitable activities**
Church Activities
20
Investment income
2
53
Other income
6,827
**Total**
181,298
**EXPENDITURE ON**
**Charitable activities**
Church Activities
142,456
**NET INCOME/(EXPENDITURE)**
38,842
**Transfers between funds**
12
(41,366)
**Net movement in funds**
(2,524)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
109,837||31.12.20
Total
funds
£
29,505
-
-
-
29,505
50,172
(20,667)
41,366
20,699
611,801||31.12.19
Total
funds
£
203,903
20
53
6,827
210,803
192,628
18,175
-
18,175
721,638||217,462
298
98
-|
|---|---|---|---|---|---|---|
|||||||217,858
211,941|
|||||||5,917
-|
|||||||5,917
715,721|
## **TOTAL FUNDS CARRIED FORWARD**
The notes form part of these financial statements
Page 5
**LEA VALLEY CHURCH**
## **BALANCE SHEET 31 December 2020**
|||||31.12.20|31.12.19|||
|---|---|---|---|---|---|---|---|
||Unrestricted|||||||
|||Restricted||Total|Total|||
||funds||funds|funds|funds|||
|Notes||£|£|£|£|||
|**FIXED ASSETS**||||||||
|Tangible assets|6|29,953||1,119,682
1,149,635||1,154,198||
|**CURRENT ASSETS**||||||||
||Debtors|||||7|1|
||Cash at bank and in hand||||||6|
|||80,561|218|80,779|79,018|||
|**CREDITORS**||||||||
|Amounts falling due within one year|8|(3,201)||(19,701)
(22,902)||(22,369)||
||**NET CURRENT ASSETS**||||||7|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**||107,313||1,100,199
1,207,512||1,210,847||
|**CREDITORS**||||||||
|Amounts falling due after more than one year|9||-|(467,699)
(467,699)||(489,209)||
|||||**NET ASSETS**||||
|||||**FUNDS**||||
|||||Unrestricted funds||||
|||||Restricted funds||||
|||||**TOTAL FUNDS**||||
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Geoff Ace - Trustee
............................................. Ian Liddle - Trustee
The notes form part of these financial statements
Page 6
**LEA VALLEY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2020**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements and assessment of going concern**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared 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' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The financial statements are presented in sterling (£).
## **Critical accounting judgements and key sources of estimation uncertainty**
In preparing financial statements it is necessary to make certain judgements, estimated and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant effect on amounts recognised in the financial statements.
Useful economic life of tangible fixed assets:
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance and 10% on reducing balance Fixtures and fittings - 25% on reducing balance Computer equipment - 25% on reducing balance
No depreciation is charged in respect of freehold land and buildings as the residual value of the property after its estimated useful life is anticipated to be at least the carrying value of the property show in the financial statements.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Debtors**
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.
## **Creditors**
continued...
Page 7
Creditors are recognised where then charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
continued...
Page 7
**LEA VALLEY CHURCH**
**NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially measured at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.**
## **INVESTMENT INCOME**
31.12.20 31.12.19 £ £
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
31.12.20 31.12.19 £ £ Trustees' salaries Trustees' social sec Trustees' pensions 67,495 43,870
Trustees remuneration is paid for the trustees roles as Pastors of the church and not for their roles as trustees.
The charity consider its key management personnel to comprise the church council, which currently includes only trustees. Remuneration of trustees is shown above, no other member of the church council received any remuneration.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
## **4. STAFF COSTS**
The average monthly number of employees during the year was as follows:
||31.12.20|31.12.19|
|---|---|---|
|All employees|4|3|
No employees received emoluments in excess of £60,000.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted Total funds funds funds £ £ £ **INCOME AND ENDOWMENTS FROM** Donations and legacies 207,268 10,194 217,462
continued...
Page 8
|**Charitable activities**
Church Activities
58
Investment income
98
**Total**
207,424|240
-
10,434|298
98|
|---|---|---|
|||217,858|
continued...
Page 8
**LEA VALLEY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020**
|**5.**|**COMPARATIVES FOR THE**|**COMPARATIVES FOR THE**|**STATEMENT OF FINANCIAL ACTIVITIES -**|**STATEMENT OF FINANCIAL ACTIVITIES -**|**STATEMENT OF FINANCIAL ACTIVITIES -**|**STATEMENT OF FINANCIAL ACTIVITIES -**|**continued**|**continued**|||
|---|---|---|---|---|---|---|---|---|---|---|
|||||Unrestricted|||||||
||||||Restricted||Total||||
|||||funds|funds||funds||||
|||||£|£||£||||
||**EXPENDITURE ON**||||||||||
||**Charitable activities**||||||||||
||Church Activities||||177,920||34,021||211,941||
||**NET INCOME/(EXPENDITURE)**||||29,504|(23,587)|||5,917||
||**Transfers between funds**||||(37,946)||37,946||-||
||**Net movement in**|**funds**|||(8,442)||14,359||5,917||
||**RECONCILIATION OF FUNDS**||||||||||
||**Total funds brought forward**||||118,279|597,442|||715,721||
||||||**TOTAL FUNDS CARRIED FORW**||||||
|**6.**|**TANGIBLE FIXED ASSETS**||||||||||
||||Improvements||||||||
||||Fixtures||||||||
|||Freehold|to|and|Computer||||||
|||property|property|fttings|equipment||Totals||||
|||£|£|£|£||£||||
||**COST**||||||||||
||||At 1 January|2020 and|||||||
||||31 December 2020||1,112,392||91,711||15,9||
||**DEPRECIATION**||||||||||
||||At 1 January|2020||-|50,327||15,5||
||||Charge for|-|4,457|100||6||4|
||||year||||||||
||||At 31 December 2020|||-|54,784||15,63||
||**NET BOOK VALUE**||||||||||
||||At 31 December 2020||1,112,392||36,927|||29|
||||At 31 December 2019||1,112,392||41,384|||399|
|**7.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||||||||
||||||31.12.20||31.12.19||||
||||||£||£||||
||Income tax recoverable||||14,853||13,716||||
continued...
Page 9
**LEA VALLEY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020**
|**8.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||||
|---|---|---|---|---|---|---|---|---|---|
|||||31.12.20|||31.12.19|||
||||||£||£|||
||||||||Taxation and social|||
||||||||Other creditors|||
|||||||22,902|22,369|||
|**9.**|**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**|||||||||
|||||31.12.20|||31.12.19|||
||||||£||£|||
||||||||Other creditors|||
|**10.**|**LOANS**|||||||||
||An analysis of the maturity of loans is given below:|||||||||
|||||31.12.20|||31.12.19|||
||||||£||£|||
||Amounts falling due within one year on demand:|||||||||
||||||||Other loans|||
||Amounts falling between one and two years:|||||||||
||||||||Other loans - 1-2||yea|
||Amounts falling due between two and fve years:|||||||||
||||||||Other loans - 2-5||yea|
||Amounts falling due in more than fve years:|||||||||
||Repayable by instalments:|||||||||
||Other loans more 5yrs instal|||||388,899||410,409||
|**11.**|**SECURED DEBTS**|||||||||
||The following secured debts are included within creditors:|||||||||
|||||31.12.20|||31.12.19|||
||||||£||£|||
||Mortgage||||508,909||508,909|||
||The Mortgage is secured over the Church Freehold Land & Buildings in Waltham Abbey.|||||||||
|**12.**|**MOVEMENT IN FUNDS**|||||||||
||||Net|Transfers||||||
||||movement|between|||At|||
|||At 1.1.20|in funds||funds||31.12.20|||
|||£|£||£||£|||
||**Unrestricted funds**|||||||||
||General fund|109,837||38,842||(41,366)||107,313||
||**Restricted funds**|||||||||
||||Building||||||60|
||||Organ Loft Refurbishment Fund|||||||
||||Quest - Fellowshipof the||||Sword|||
|||611,801|(20,667)|||41,366|632,500|||
continued...
Page 10
TOTAL FUNDS
72
Page 10
eontinued...
**LEA VALLEY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020**
## **12. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|||Incoming|Resources|Movement|||
|---|---|---|---|---|---|---|
|||resources|expended|in funds|||
|||£|£|£|||
|**Unrestricted funds**|||||||
|General fund||181,298
(142,456)|||38,842||
|**Restricted funds**|||||||
||||Mission||||
||||Building||||
||||Organ Loft Refurbishment Fund||||
|||29,505|(50,172)|(20,667)|||
||||**TOTAL FUNDS**||||
|**Comparatives for movement in funds**|||||||
|||Net|Transfers||||
|||movement|between|At|||
||At 1.1.19|in funds|funds|31.12.19|||
||£|£|£|£|||
|**Unrestricted funds**|||||||
|General fund||118,279
29,504
(37,946)|||109,837||
|**Restricted funds**|||||||
|||Building|||58||
|||Organ Loft|Refurbishment Fund||||
|||Quest - Fellowshipof the Sword||||4|
||597,442
(23,587)||37,946|611,801|||
|||**TOTAL FUNDS**|||71||
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement||
|---|---|---|---|---|
||resources|expended|in funds||
||£|£|£||
|**Unrestricted funds**|||||
|General fund||207,424
(177,920)||29,504|
|**Restricted funds**|||||
|||Mission|||
|||Building|||
|||Organ Loft Refurbishment Fund|||
|||Quest - Fellowshipof the Sword|||
||10,434
(34,021)||(23,587)||
|||**TOTAL FUNDS**|||
continued...
Page 11
**LEA VALLEY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020**
## **12. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|||Net|Transfers||||
|---|---|---|---|---|---|---|
|||movement|between|At|||
||At 1.1.19|in funds|funds|31.12.20|||
||£|£|£|£|||
|**Unrestricted funds**|||||||
|General fund||118,279
68,346
(79,312)|||107,313||
|**Restricted funds**|||||||
|||Building||||58|
|||Organ Loft|Refurbishment Fund||||
|||Quest - Fellowshipof the||Sword|||
||597,442
(44,254)||79,312|632,500|||
|||**TOTAL FUNDS**||||71|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement||
|---|---|---|---|---|
||resources|expended|in funds||
||£|£|£||
|**Unrestricted funds**|||||
|General fund||388,722
(320,376)||68,346|
|**Restricted funds**|||||
|||Mission|||
|||Building|||
|||Organ Loft Refurbishment Fund|||
|||Quest - Fellowshipof the Sword|||
||39,939
(84,193)||(44,254)||
|||**TOTAL FUNDS**|||
The Mission Fund represents restricted gifts made by the congregation for specific missionaries and is paid out by the church in full.
The Building Fund represents the value of the church building purchased in 2008 together with the donations to this fund, less the mortgage and loan liabilities outstanding.
Quest - Fellowship of the Sword Fund represents the income and expenditure of running the Fellowship of the Sword course. The balance of this fund is to be repaid to Quest during the financial year.
Organ Loft refurbishment Fund represents money given for the specific purpose of the organ loft refurbishment and upkeep.
## **Transfers between funds**
A transfer has been made from the general fund to the building fund, which represents mortgage repayments being made from the general fund bank account in the year.
continued...
Page 12
**LEA VALLEY CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020**
## **13. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2020.
Page 13
**LEA VALLEY CHURCH**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2020**
|31.12.20
31.12.19
£
£
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Oferings
Gift aid
Missions giving
Building fund
Other giving
Special Events
203,903
217,462
**Investment income**
Deposit account interest
53
98
**Charitable activities**
Bookstall income
FTS UK
20
298
**Other income**
Job Retention Scheme
6,827
-
**Total incoming resources**
210,803
217,858
**EXPENDITURE**
**Charitable activities**
Trustees' salaries
64,000
41,000
Trustees' social security
1,017
1,296
Trustees' pensions paid
2,478
1,574
Wages
-
8,771
Social security
-
9,596
Pensions
-
2,923
Insurance
5,113
4,819
Administration
393
4,094
Conferences
1,228
1,190
Denominational costs
1,654
1,409
Other expenses
2,339
2,389
Old hall expenses
8,376
12,584
Visiting ministry
-
665
Children and youth
24
2,460
Mission & church tithe
51,045
27,777
Repairs and renewals
16,337
31,985
Travel
-
2,004
Refreshments
1,253
6,385
Share fund
-
3,355
Teaching books
100
215
Evangelism
18
177
Outreach expenses
1,257
2,364
FTS UK
-
4,757
Equipment
2,407
2,535
Improvements to property depreciation
4,458
5,071
Fixtures & fttings depreciation
100
133
Carried forward
163,597
181,528|31.12.20
31.12.19
£
£
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Oferings
Gift aid
Missions giving
Building fund
Other giving
Special Events
203,903
217,462
**Investment income**
Deposit account interest
53
98
**Charitable activities**
Bookstall income
FTS UK
20
298
**Other income**
Job Retention Scheme
6,827
-
**Total incoming resources**
210,803
217,858
**EXPENDITURE**
**Charitable activities**
Trustees' salaries
64,000
41,000
Trustees' social security
1,017
1,296
Trustees' pensions paid
2,478
1,574
Wages
-
8,771
Social security
-
9,596
Pensions
-
2,923
Insurance
5,113
4,819
Administration
393
4,094
Conferences
1,228
1,190
Denominational costs
1,654
1,409
Other expenses
2,339
2,389
Old hall expenses
8,376
12,584
Visiting ministry
-
665
Children and youth
24
2,460
Mission & church tithe
51,045
27,777
Repairs and renewals
16,337
31,985
Travel
-
2,004
Refreshments
1,253
6,385
Share fund
-
3,355
Teaching books
100
215
Evangelism
18
177
Outreach expenses
1,257
2,364
FTS UK
-
4,757
Equipment
2,407
2,535
Improvements to property depreciation
4,458
5,071
Fixtures & fttings depreciation
100
133
Carried forward
163,597
181,528|31.12.20
31.12.19
£
£
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Oferings
Gift aid
Missions giving
Building fund
Other giving
Special Events
203,903
217,462
**Investment income**
Deposit account interest
53
98
**Charitable activities**
Bookstall income
FTS UK
20
298
**Other income**
Job Retention Scheme
6,827
-
**Total incoming resources**
210,803
217,858
**EXPENDITURE**
**Charitable activities**
Trustees' salaries
64,000
41,000
Trustees' social security
1,017
1,296
Trustees' pensions paid
2,478
1,574
Wages
-
8,771
Social security
-
9,596
Pensions
-
2,923
Insurance
5,113
4,819
Administration
393
4,094
Conferences
1,228
1,190
Denominational costs
1,654
1,409
Other expenses
2,339
2,389
Old hall expenses
8,376
12,584
Visiting ministry
-
665
Children and youth
24
2,460
Mission & church tithe
51,045
27,777
Repairs and renewals
16,337
31,985
Travel
-
2,004
Refreshments
1,253
6,385
Share fund
-
3,355
Teaching books
100
215
Evangelism
18
177
Outreach expenses
1,257
2,364
FTS UK
-
4,757
Equipment
2,407
2,535
Improvements to property depreciation
4,458
5,071
Fixtures & fttings depreciation
100
133
Carried forward
163,597
181,528|
|---|---|---|
||203,903
217,462
53
98
Bookstall income
FTS UK||
||20
298
6,827
210,803
64,000
1,017
2,478
-
-
-
5,113
393
1,228
1,654
2,339
8,376
-
24
51,045
16,337
-
1,253
-
100
18
1,257
-
2,407
4,458
100
163,597|-
217,858
41,000
1,296
1,574
8,771
9,596
2,923
4,819
4,094
1,190
1,409
2,389
12,584
665
2,460
27,777
31,985
2,004
6,385
3,355
215
177
2,364
4,757
2,535
5,071
133
181,528|
|**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Trustees' salaries
Trustees' social security
Trustees' pensions paid
Wages
Social security
Pensions
Insurance
Administration
Conferences
Denominational costs
Other expenses
Old hall expenses
Visiting ministry
Children and youth
Mission & church tithe
Repairs and renewals
Travel
Refreshments
Share fund
Teaching books
Evangelism
Outreach expenses
FTS UK
Equipment
Improvements to property depreciation
Fixtures & fttings depreciation
Carried forward|||
This page does not form part of the statutory financial statements
Page 14
**LEA VALLEY CHURCH**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2020**
31.12.20 31.12.19 £ £
## **Charitable activities**
Brought forward Computer equipment depreciation Bank interest Mortgage interest
187,546 207,202
## **Support costs**
## **Governance costs**
Accountancy and legal f
Total resources expended
## **Net income**
This page does not form part of the statutory financial statements
Page 15