Charfty reglstration number 1065961 Company reglstration number 03392486 (England and Wales) RIVER OF LIFE CHURCH (WORTHING) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Caladine Chartered Certrified Accountants
RIVER OF LIFE CHURCH (WORTHING) LEGALAND ADMINISTRATIVE INFORMATION Thistees M Langham R Marshall W Marshall P Woodward A Lovejoy 8ruce-Kerr (Appointed 12 December 2023) (Appointed 12 December 2023) Seer•tary R Cotterell Charlty number 1065961 Company numb•r 03392465 Prfnclpal address 19a Broadwater Road Worthing West Sussex BN14 BAD R¢gl•tored offlco Chantry House 22 Upperton Road Eastboume East Sussex BN21 1BF Independent examlner John Caladlne FCCA CTA FCIE Caladine Llmited Chantry House 22 Upperton Road Eastboume East Sussex BN21 1BF Bankers Santander UK PIC Brldle Road Bootle Merséyslde L30 4GB National Westminster Bank PIC Brlghlon 137 North Street Westem Avenue 1Olaterside Court Chatham Kent ME4 5RT
RIVER OF LIFE CHURCH (WORTHING) CONTENTS Pagè Trustees, report Independent examinerfs report Statement of flnancial activitle8 Stat8ment of financlal positlon Notes to the financlal statements 6-17
RIVER OF LIFE CHURCH (WORTHING) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 OCTOBER 2024 The trustees present thelr annual report and financial statements forthe year ended 31 October 2024. The financial staternents have been prepared in accordance with the accounting pollcles sel out In note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice appliGable to charities preparfng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (effective 1 J8nuary 2019). Objectlves and actlvlties The charity's objects are the advancement of the Christian falth. The trustees have paid due regard to guidance issued by the Charity Commisslon In deciding what activities the charity should undertake, A¢hl•vements and perfomiance Regular actlvitles contlnued, typically our Sunday moming meeting, which Contlnues to be live streamed; Ark playgroup; Stretch keep fil.. Prayer group., monthly coffee momlng- weekly home groups. Other occasional events were held e.g. annual Craft Moming gnd fund raislng Quiz Evening. Men's and Ladies groups meet socialty from tlme to tlme at varlou5 locations. A Church Away day was held In July. The first phase of repairing the roof was undertaken, the second due early 2025. An external vision Is maintained through the Church support of memberfs personal Involvement wRh a number of other ministries working both overseas (Amen, Link to Hopel and locally (Acom Pregnancy Counselling, Turning Tldes (homeless project)). Church membershlp Is not formallsed. Regular attendees number around 50 plus 12 ¢hlldr8n. A number of people have become regular attendees wlth one young lady from Guatemala joinlng us for an extended time whilst improving her English preparatory to misslon work abroad. River of Llfe Church Is affiliated with the Ploneer Netsvork. Flnanclal revlew and re8erve8 The twstees report a deficit on unrestricted funds before transfers for the year of £5,810 (2023.. deficit of £5,301). Unrestricted funds at the year end amounted to £74,15612023= £80,094). It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalenl to three month's operational expenditure. The Trustees conslder that reserves at this level will ensure that, in the event of a signrficant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in whlch additional funds may be raised. The level has been maintsined durlng the year. In keeplng with the resenies pollcy, funds are maintained to meet foreseeable expendlture. It Is not the church's general policy to commit to investments other Ihan low Tisk bank and building society accounts. The Trustees have assessed the major risks to which the charity is exposed, and are satisfied thal systems are in place to mitigale exposure to the major risk5.
RIVER OF LIFE CHURCH (WORTHING) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 structure, governance and management The trustees. who are also Ihe directors for the purpose of company law, and who 5eNed during the year and up to the date of signature of the financial statemenls were.. M Langham R Marshall W Mar8hall P Woodward A Lovejoy Bruce-Kerr (Appolnted 12 Oecember 2023) (Appointed 12 December 2023) None of the trustees has any beneficlal interest in the company. All of the trustee5 are members of the company and guarantee to contribute £10 in the evenl of a winding up. The appointment of Trustees is by the majority vote of the exlstlng Offi holders. Only Trustees with both buslness and splritual experience are appolnted. Training18 nol consldered necessary. Statomont of tru•t•••' r•Jpon8lbllltlo8 The tn15tees, who are al80 the dlrectors of Rlver of Life Church (Worthingl for the purpose of company law, are responsible for preparlng the Trustees, Report and the finandal statements In accordance with applicable law and Unlted Kingdom Accounting Standards (United Kingdom Generally Accepted Accountlng Practice). Company Law requires the trustees to prepare financlal statements for each financlal year which gfve a true and fair vlew of the state of affairs of the charfty and of the incoming resources and application of resources, Including the income and expenditure, of the charitsble company for that year. In preparlng these financial statements, the trustees are required to-. Belect suliable accounting policles and then appty them conslstently., observe the method5 and prfnciples In the Charities SORP; make judgements and estlmat8S that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subject to any mat8rfal departure8 dlsclosed and explained in the financial slatements., and prepare the financial statements on the going concem basis unless it is inappropriate to pre$un that the charlty will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial positlon of the charity and enable them to ensure that the financial statements compSy wlth the Companies Act 2006. They are also responsible for safeguarding the assets of the charty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees, report was approved by the Board of Trustees. M Langham Trustee Dated- 7 April 2025
RIVER OF LIFE CHURCH (WORTHING) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RIVER OF LIFE CHURCH IWORTHING) I report to the trustees on my examination of the financlal ststements of River of Life Church Iworthing) (the charity) forthe year ended 31 October 2024. Responslbllltles and baslg of report As the tru6tees of the charity {and also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companles Act 2006 (Ihe 2006 Act), Having satisfied myself that the financial statements of the charlty are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examlnation. I report In respect of my examlnatlon of the charlty's financial slatements carrled out under section 145 of the Charities Act 2011 (the 2011 Act). In cairylng out my examinatlon I have followed all the appllcable Dlrectlons given by the Charfty Commission under sectlon 145(5)(bl of the 2011 Act, Independent oxamlner'• •t•temenl I have completed my examinatlon. I confirm that no matters have come to my attention in connection wllh the examination givlng me cause to believe that in any material respect.. accountlng records were not kepl In respect of the charity as requlred by section 386 of the 2006 Act.. or the financial statements do not accord with those records., or the financial ststements do not comply with the accounting requlrements of section 396 of the 21J06 Act other than any requirement that the accounts give a tnje and fair view whlch is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the statement of Recommended Practice for accounting and reporting by charltles applicable to chaTltles preparlng their accounts in accordance with the Flnancial Reportlng Standard appllcable in the UK and Republic of Ireland (FRS 102). I have no concems and have come across no other matters in connection wlth the examlnation to whlch attention should be drawn In thls report ID order to enable a proper understsnding of the flnancial slatements to be reache John Caladine FCCA CTA FCIE Caladine Ltd Chartered Certified Accounlants Chantry House 22 Upperton Road Eastbourne East Suss8X BN21 1BF Dated: 7 April 2025
RIVER OF LIFE CHURCH (WORTHING) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 OCTOBER 2024 Unrestrlcted Restrlcted fund funds 2024 2024 Total Unrestrlcted Re¥trlctod funds funds 2023 2023 Total 2024 2023 Note6 Income from: Donations and legacies Charltable activities Investments 53,033 2.312 16 19,606 72,639 2,312 333 58,272 2,994 11 15,347 73,619 2.994 11 317 Total Income 55,361 19,923 75,284 61,277 15,347 76,624 Expendlturn on: Charitable actlvltles 61,171 24,736 85,907 86,578 5,321 71,899 Total exp•ndltur• 61,171 24,736 85,907 66,578 5,321 71,899 Net Incomel(expendlturo1 (5,810) (4,813) (10,6231 (5,3011 10.026 4,725 Transfers between funds 17 1128) 128 (7,696) 7,696 Net movement In funds 15,938) (4,885) (10,623) (12,997) 17,722 4,725 Reconelllatlon of funds: Fund balances at 1 November 2023 80,094 22,604 102,698 93,091 4.882 97,973 Fund balance8 at 31 October 2024 74,156 17,919 92,075 80,094 22,604 102,698 The statement of flnancial actlvltles includes all gains and losses recognlsed in the year. All income and expenditure derlve from continuing activities.
RIVER OF LIFE CHURCH (WORTHING) STATEMENT OF FINANCIAL POSITION AS AT31 OCTOBER 2024 2024 2023 Notes Fixed assets Property, plant and equipment 12 57,916 60,094 Current assèts Trade and other receivables Investments Cash at bank and In hand 13 14 438 100 35,448 1,613 100 43,008 35,984 (1,8251 44,719 (2,115) Current Ilabllltl88 15 Net current ••J•t• 34,159 42,604 Total a$•¢ts less current Ilabllltle8 92,075 102,698 The funds ofthe charity Restricted Income funds Unrestrlctsd funds 17 17,919 74,158 22.804 80.094 92.075 102,698 The company is entltled to the exemptlon from the audit requlrement contalned in 8eCtlon 477 of the Companies Act 2006, for the year ended 31 Octobèr 2024. The dlrector acknowledges hls responslbllltles for comptylng with the requirements of the Companies Act 2006 wlth respect to accountlng records and the preparatlon of finandal statements. The members have not required the company to obtain an audtt of Its financial statements for th8 year in questlon In accordanGe with section 476. These financial stalements have been prepared In accordance wlth the provisions appllcable to companies sublect to the small companles regime. The finandal statements were approved by the trustees on 7 April 2025 M Langham Trusteo Company registration number 03392465 (England and Wales)
RIVER OF LIFE CHURCH (WORTHING) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accountlng policies Company infonnation River of Llfe Church (Worthing} is a private company limited by guarantee incorporated in England and Wales. The registered office is Chantry House, 22 Upperton Road, Eastbourne, East Sussex, BN21 1BF. 1.1 Accounting conventlon The financial Statements have been prepared in accordanc8 With the charity's Memorandum and Artides of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The charfty is a Public Benefit Entity as defined by FRS 102. The charity has tak8n advanlage of the provlsions in the SORP for charltles applying FRS 102 Update Bulletin 1 nDt to prepare a Statement of Cash Flows. The financial statements ar8 prepared in sterflng. whlch is the functional currency of the charlty. Monetary amounts Sn these financlal statements are rounded to the nearest £. The financial statements have been prepared under the hislorical cost conventlon. The princlpal accounting policies adopted are set out below. 1.2 Golng concern At the tlme of approving the financial statements, the trustees have a reasonable expectalion that Ihe charity has adequate resources to continue In operational existence for the foreseeable future. Thus the trustees continue to adopt the golng concern basis of accounting in preparing the financlal statements. 1.3 Charltable funds Unrestricted funds are 8vailable for use at the discretion of the trustees in furtherance of their charitsble objectives. Deslgnated funds comprlse funds which have been set aslde at the discretlon of the trustee5 for speclflc PUTP05es. The purposes and uses of the designated funds are set out in Ihe notes to the flnancial statements. Restricted funds are subject to specific conditions by donors or grantors as to how they may be us8d. The purposes and uses of the restrlcted funds are set out in the notes to the flnancial statements. 1.4 Income Income15 recognised when the charity Is legally entitled lo it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income wlll be received, Cash donations are recognised on receipt. other donatlons are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donallon. Legacies are recognised on receipt or otherwise if the charity has been notified of an Impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.5 Expendlture Expenditure is recognised in the period In which they are incurred and allocated to the particular cost centre to which they relate and includes irrecoverable VAT.
RIVER OF LIFE CHURCH (WORTHING) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Accountlng pollcles (Continued) 1.6 Property, flxtures and equipment Propety, fixtures and equipmenl are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any Impaimient losses. Depreciation is recognised so as lo write off the cost or valualion of assets less thelr residual values over thelr useful Ilves on the following basls- Freehold propety Flxtures, fittlngs and equipment 2eh on a straight Ilne basis 20% on a 8traight Ilne basls The gain or loss arfslng on the disposal of an asset Is detemiined aB the dlffer8nce beeen the sal8 proceeds and the carrylng value of the asset, and 18 recognised In the Statement of )In8nclal actlvlties. Fixed assets costlng below £500 are not capitalised. 1.7 Impalrnient of non-current assets At each reporting end date, the charity revlews the carrylng amounts of ils tanglble assets to determine whether there Is any indication that those asset5 have suffered an impairment loss. If any such indallOn exists, the recoverable amount of the assel is estlmated in order to determine the extent of the impairment loss (if any). 1.8 Cash and cash equlvalonts Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid Investments with original maturities of three rnonths or less, and bank overdraft6. Bank overdrafts are shown wlthin borrowings in Quent Ilabilities. 1.9 Flnanclal Instruments The charlty has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Sectlon 12 'other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financlal instrumenls are recognised in the charitys balance sheet when the charity becomes paty to the contractual provisions of the Instrument. Finandal assets and liabilities are offset, with the net amounts presented in the financial statemenls, when there is a legally enforceable right to set off the recognised amount5 and there Is an intention to settle on a nel basis or to realise the a55et and settle the Ilability simultaneously. Baslc flnanclal assets Basic financial assels, which include trade and other receivables and cash and bank balances, are Inilialty measured at transaction priGe includlng transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. wher? the transactloll 15 measured at the present value of the future recelpls discounted at a market rate of iiterest. Financial assels classified as receivable within one year are not amortised.
RIVER OF LIFE CHURCH (WORTHING) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Accountlng pollcles (Contlnued Basic flnancial liabilities Basic financial liabilities, including trade and other payables and bank loans are inltially recognised at transaction price unless the arrangement constitutes a financlng transaction, where the debt Instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities d8ssified as payable within one year are not afflortised. Debt instruments are subsequentty carTled at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acqulred in the ordlnary course of operations from suppliers. Amounts payable are dasslfied as current liabilities if paymenl Is due wilhin one year or less. If not, they are presented as non-current liabillties. Trade payables are recognlsed initially at transactlon price and subsequently measured at amortised cost uslng the effectlve interest method. Derecognition of flnanclal Ilabilities Flnancial Ilabllltles are derècognised when the charity's contractual obllgalions expire or are dlscharg8d or cancelled. 1.10 Taxatlon In the oplnlon of the Trustees the Trust Is not Ilable to United Kingdom taxatlon on It's charitable activltles. 1.11 Employee beneflts The cost of any unused holiday enlitlement Is recognised in the period In which the employee's services are received. Temilnatlon benefits are recognised immediatety as an expense when the charlty is demonstrably committed to terminate the employment of an employee or to provlde termination benefits. 1.12 Retlroment beneflts Payments to defined contrlbutlon retirement benefft s¢hem8s are charged as an expens8 as they fall due. 1.13 Current Asset Invfrstment This 18 shown at cost as thè sum Involved is immaterial. 1.14 Llmlted Ilablllty The company is limited by guarantee and does not have a share capital. The liability of each mernber is limited to a maxirnum of £10.
RIVER OF LIFE CHURCH (WORTHING) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Income from donatlons and legacles Unrestricted Restricted funds funds 2024 2024 Total Unrestrlcted Restrlctod funds funds 2023 2023 Total 2024 2023 Donatlons and glfts Grants 53,033 13,506 6,100 86,539 6,100 58,272 15,347 73,619 53,033 19,608 72,639 58,272 15.347 73,819 Donallons and glft• Donations and glfts Tax refund8 44,932 8,101 12,028 1,478 56,960 9,579 49,054 9.218 14.988 359 64,042 9,577 53.033 13,508 66,539 58.272 15,347 73,619 Income from Gharltable actlvltl•8 Charltsble Charltoble actlvltl88 actlvltles 2024 2023 Charltable rental income 2,312 2,994 Analy81s by fund Unrestrlcted funds 2,312 2,994 In¢omo froffl Investments Unr•strlcted Rostrlcted funds fund8 2024 2024 Tot•1 Unr•strlcted Restrlcted funda funds 2023 2023 Totsl 2024 2023 Interest recelvable 16 317 333 11 11
RIVER OF LIFE CHURCH (WORTHING) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Charftable actlvltlos 2024 2023 Pastor salary and pension Chlldren's and other ministry work Worship, Ilcences and aquipment Events and activities Conferences and tralnlng Church publicity Catering and refreshments Repairs & Malntenance Miscellaneous 31,123 177 416 95 24 33,895 169 388 2,218 81 483 299 22,649 488 300 55,271 37,492 Grant funding of activities (se8 note 6) 5,081 5,871 Share of support costs18ee note 71 Share of governance costs (see note 7) 23,702 1.853 26,892 1,844 85,907 71,899 Analy818 by fund Unrestricted funds Restricted funds 81,171 24,736 86,578 5.321 85,907 71,899 10-
RIVER OF LIFE CHURCH (WORTHING) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Grants payable Charitable activities 2024 Charitable activities 2023 Grants to institutions: Pioneer Trust Acorn Pregnancy Centre Link to Hope Project Kyrghzstan Syzygy Tender Heart Other 900 547 900 1,IJ02 420 600 550 798 $43 1,519 2,96e 4,811 Grants to Indlvlduals 2,115 1,060 5,081 5,871 Support CO8ts allocatsd to acllvllles Charltable actlvltle8 2024 Total 2023 Administrator $818ry Depredallon Telephone and broadband Insurance Repairs and maintenance ulitIeS Office and IT costs Cleaning costs {includlng salary) Subscriptions Govemance 1,178 2,178 640 2,445 3.107 10,048 309 3,561 236 1,853 1.339 2,178 757 2,348 7,488 8,573 274 3,332 403 25,555 28,536 2024 2023 Governance costs comprf8e: Accountancy Independent examination Bank charges 1.174 600 79 1,200 600 1,853 1,844 11
RIVER OF LIFE CHURCH (WORTHING) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Net movemont In lunds 2024 2023 The net movement in funds is staled after chargingl(crediting): Depredatlon of owned property, plant and equipment 2,178 2,178 Trustees The fellowship leader Denise Langham (wife of the Trustee Mark Langhaml recelved a gross salary and employevs pension Gontributlon of £31,12312023.' £33,895) during the year. It is considered that disclosure of donations by Trustees Is confidentlal and would be detrlmentsl to the work of the Trust if disclosed. 10 Employees The average monthly number of employees during the yearw86: 2024 Number 2023 Number Charitable activiti88 (full and part time) Employment costs 2024 2023 Wages and salarfes Other pension costs 37,272 906 36,082 987 38,178 37.089 There were no employees whose annual remuneration was more than £60,000. Remuneratlon of key management personnel The remuneration of key management personnel (Induding wages. ernployevs pension contributlons and employevs national insurance contributions) is as follows. 2024 2023 Aggregate cornpen5ation 31,123 33,895 11 Taxatlon The charity is exempt from taxation on its actlvitles because all its income 15 applied for charftable purposes. 12
RIVER OF LIFE CHURCH (WORTHING) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 12 Property, plant and equipment Freehold Flxtures. prop•rty flttlngs and èqulpment Totsl Cost At 1 November 2023 103,000 16.784 119,784 At 31 October 2024 103,000 16,784 119,784 D•preelallon and Impalrni•nt At 1 November 2023 Depreciation charged In the year 43,280 2,060 16,430 118 59.890 2,178 At 31 October 2024 45,320 16,548 61,868 Carrylng amount At 31 October 2024 57,680 236 57,916 At 31 October 2023 59,740 354 60,094 13 Trade and other recolv8blo8 2024 2023 Amounts falllng due wlthin one year: other recelvables Prepayments and accrued income 1,195 418 438 438 1,613 14 Current a••et Investments 2024 2023 Listed Investrnents 100 100 16 Current Ilablllll•* 2024 2023 Other payables Accruals and deferred income 145 1,680 435 1,680 1,825 2,115 13-
RIVER OF LIFE CHURCH (WORTHING) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 16 Retirement bènoflt schemes 2024 2023 Defined contrlbutlon schemes Charge to profit or loss in respect of defined contribution schemes 906 987 The charlty operates a defined Contribution pension scheme for all quallfylng employees. The assets of the scheme ara held separalely from those of the charlty In an Independently admlnlstered fund. 14-
RIVER OF LIFE CHURCH (WORTHING) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 18 Unrestricted funds The unrestrlcted funds ol Ihe charity comprise the unexpended balanc8s of donations and grants which are not subject to Specific conditions by donors and grantors as to how they may be used. These include deslgnated funds which have been set aside oul of unrestricted funds by the trustees for specffic Purposes. At1 November 2023 Incomlng resources R•8ources expended Transfèr8 At 31 October 2024 Leadershlp Dlscr&llonary Stretch General funds 32 925 1,821 52,615 (6) (2,115) (59,050) 951 166 73,039 460 (588) 80.062 80,094 55,361 (61,171) {128) 74,156 Prevlou8 year: At1 November 2022 Incomlng resources Rosource8 expended Transfer• At 31 October 2023 Nonnan Bishop Legacy Leadership Dlscretionary General funds 8,087 282 84,722 (3911 (500) {65,687) 17,696) 250 61,027 32 80,062 93,091 61,277 66,578 17,696) 80,094 Norman 818hop Legacy This fund was set up In 2020 In memory of Norman Bishop to be used at the elders, dlscretion. The balance of the fund of £7,696 was transferred lo the Roofing fund in 2023. L•ader8hlp DIgcTetlonary Thls fund Is deslgnated for the Ghurch leadershlp to make gifts to charltable projects or indlvlduals In need. Stretch This fund is deslgnated for the sealed keep fft Classes. 19 Analysls of net assets between funds Unrestrlctod fundg 2024 Restrlcted funds 2024 Total 2024 At 31 October 2024: Property, plant and equipment Cuent assetsl{Ilabilities) 57,916 16,240 57.916 34,159 17,919 74,156 17,919 92,075 16-
RIVER OF LIFE CHURCH (WORTHING) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 19 Analysis of net assets between funds (Continued) Unrestrlcted funds 2023 Restrlctsd funds 2023 Total 2023 At 31 October 2023: Propaty, plant and equiprnent Current assetsl(liabilities) 60,094 20,000 60.094 42.604 22,604 80,094 22,604 102,698 20 Related pjrty transactlong There were no disclosable related party transactlons during the ye8r other than those dlsdosed In Note 9 {2023- none). 17-