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2023-04-30-accounts

Christian Life Centre Oxford Trust

Report and Accounts Year ended 30 April 2023

1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk

CHRISTIAN LIFE CENTRE OXFORD TRUST

CHARITY INFORMATION

FOR THE YEAR ENDED 30 APRIL 2023

Trustees

Rev Grady Reid Philip Abayateye Edwin Kiarie Nelly Musikaila Jirongo Dennis Aduadjoe

Governing Document Charity Registration Number 1074213 Principal Address 49a, Oxford Road Cowley Oxford OX4 2ER

Declaration of Trust dated 19 December 1998.

Independent Examiner

Archie McDowall BA, CA Stewardship 1 Lamb's Passage London EC1Y 8AB

Bankers

Lloyds TSB PLC CAF Bank

Contents Page
Charity Information 1
Trustees' Annual Report 2-8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Accounts 12-17
Detailed Statement of Financial Activities with Comparatives 18

1

Christian Life Centre Oxford Trust

The Trustees Annual report for the period ending 30th April 2023

This report serves as a comprehensive overview, outlining the trustee's evaluation of Christian Life Centre Oxford Trust for the accounting period from May 1, 2022, to April 30, 2023. It remains a faithful representation of CLC's endeavours during this financial year in promoting the Christian Gospel and values. Moreover, it details the allocation of finances to various activities within the financial year. However, it is important to clarify that while it captures key aspects of the trust's activities, it does not present an exhaustive and all-inclusive account.

We would like to take this opportunity to extend our sincere appreciation to all church volunteers, leaders, and ministers for their selfless dedication to the Lord's work throughout the past financial year. Regardless of employment status, their unwavering commitment has played a pivotal role in achieving our ministry's goals. The church thrives on the support of numerous volunteers serving in diverse capacities, creating a warm and welcoming atmosphere.

The Trust’s purpose is to preach the Gospel and providing relief to individuals experiencing hardship and distress, both in the United Kingdom and internationally. Additionally, the Trust seeks to contribute to the progress of education guided by Christian principles. When formulating the Charity's objectives, planning, and activities, the trustees have carefully considered the public benefit guidance published by the Charity Commission. Further information about the Trust's objectives can be found in our governing document, as specified in the Charity Commission's entry.

Local Church Achievements

Below are some examples of the church’s activities in the financial year, which illustrate our dedication to promoting the gospel in the community and overseas.

I. Visiting Ministers

We were able to welcome a number of visiting ministers to our church this year who encouraged the church to be strong and faithful to the Christian mandate. They include; Pastor Lucky and Cathy from Oxford Young Steps (OYS), Longdon Richard Agyei from Love Assembly in London and international evangelist Dr Guy Peh.

II. Children’s and Creche Ministry.

In June 2022, we resumed our children's church activities post-pandemic, culminating in a heartwarming Christmas Production in December. Their teachings focused on the church's vision and

2

addressed educational challenges faced by the children. The team actively supported parents dealing with children with challenging behaviours and continued assisting those with special needs children. Positive reports from parents have affirmed the success of our endeavours, with children not only absorbing lessons but also demonstrating newfound confidence and a strong sense of identity as children of God.

III. Family Matters workshop.

The focus of the session was on "Menopause," and it proved to be an empowering gathering that drew an audience of approximately 100 individuals, predominantly women with a notable presence of a few men. This informative event played a pivotal role in enlightening and educating both our church sisters and the broader community, with a significant turnout indicating the widespread interest and engagement.

IV. Mental Health Matters workshop

The May 2022 session aimed to educate the local church and community in Oxford on mental health issues, engaging with both local churches and professional bodies such as the NHS and Talking Space. Participants were encouraged to share their life experiences, and discussions included; Depression, Trauma and their causes, signs, and symptoms. The sessions provided new coping skills and strategies to support one another, with a spiritual perspective emphasizing hope in Christ. Additionally, the importance of promoting good mental wellbeing for children was highlighted, focusing on connecting with and praising kids, boosting their self-esteem, and actively listening to their concerns. The overall objective was to equip attendees with practical tools for enhancing mental health and contributing positively to the community.

V. Future (youth ministry).

Various activities took place, including movie evenings, visits to parents, one-on-one meetings with young individuals, targeted sessions with boys and girls held separately, and bi-weekly meetings. In July, a Boys Away Trip lasting three nights was organized at YHA Broad Haven in Wales, followed by a Girls Away Trip to Essex in August for a similar duration. Additionally, an Evangelism outreach event was conducted in December.

VI. Acts Ministry.

In May 2022, Acts Ministry enrolled 15 candidates for the 11-week Freedom in Christ Discipleship course, conducted on consecutive Saturdays. The course, included 10 sessions and topics like

3

Introduction to the Bible and Steps to Freedom in Christ, equipped the candidates with a profound understanding of their faith in Christ, liberating them from life's baggage. In August, the ministry enrolled 15 candidates for Baptism classes. Covering the doctrine of Christian Baptism, the classes addressed challenges in contemporary baptism and culminated in November with the baptism of all the 15 candidates, marking a significant milestone in their spiritual growth.

VII. Agape ministry.

The Agape Ministry continues to actively support both our church and the broader community, addressing physical and spiritual needs. Throughout the year, they visited and comforted unwell members, conducted Bible studies in homes to foster spiritual growth, and assisted grieving families with burial services. The team continues to maintain a vital connection with members unable to attend church through regular phone calls and home visits, preventing isolation. Their outreach extended to congratulating families on new additions and providing support to individuals in the broader community seeking assistance. This multifaceted approach reflects their commitment to fostering, supporting and ministering to our community.

VIII. Multimedia team

The media team is dedicated to delivering live Sunday transmissions of our services, ensuring that our community can participate remotely. Additionally, we maintain an active online presence through our Facebook, Website, and Instagram pages, where detailed information about the church's activities is readily available.

Recently, we initiated a significant transformation in our website layout, introducing a contemporary and engaging design. This updated layout places a strong emphasis on enhancing user experience, streamlining navigation for our visitors. The changes aim to make it more convenient for individuals to access information about our church and stay connected with our community.

IX. Hospitality Team

The church provides complimentary tea, chocolate, coffee, biscuits, and cake for post-service fellowship. This initiative is designed to foster a sense of community and encourage fellowship after our family Sunday service. It also serves as a wonderful opportunity for congregants to connect with and welcome new visitors to our community. Additional refreshments are available for purchase.

X. Sound and Lighting

In response to the growing demand for enhanced sound quality and the need to address limitations in our current setup, we recognized the imperative for a significant financial investment in superior

4

audio equipment. Our focus centred on three key aspects: stage monitoring, front-of-house sound, and live streaming capabilities. This strategic initiative aims to elevate our overall audio experience, ensuring a more immersive and high-quality auditory environment for our audience across various platforms.

XI. Church activities

HOPE Project

Investing in the future is profoundly impactful when directed towards children, especially those facing social and economic marginalization. The Hope project is dedicated to addressing the needs of vulnerable children, specifically orphans and those in precarious circumstances, who attend Miracle Primary School (MPS). Operating under the auspices of CLC Church, Hope aims to enhance the educational experience of orphaned children within Miracle Primary School.

Through the generous contributions of raised funds and monthly donations, the project strives to bolster various aspects of these children's lives. This support extends to covering educational expenses, school fees, and medical costs, with the overarching goal of fostering the overall wellbeing and development of these deserving youngsters. The concerted efforts of Hope not only uplift individual lives but also contribute to building a brighter and more equitable future for the community.

5

Mission activities:

The Trust remained steadfast in its commitment to cultivate a sustainable and efficient mission response through the implementation of a robust governance framework. This approach involves addressing diverse needs and collaborating directly with local practitioners on the ground. The following highlights illustrate various mission activities that transpired throughout the year:

6

Baptist Church. The financial support concluded in September 2022, and no renewal agreement was pursued.

Church Finances

This was the Trust 27[th] full year of operations and we continue to demonstrate a healthy level of income. This has enabled us to continue to support our mission activities, children, youth work, families, spiritual support, outreach ministries in different parts of the world, online services and our many different activities to spread the gospel of Christ and relieve the needs of others. In this financial year represent a full recovery post pandemic with our level of income and expenditure returning to pre pandemic levels.

The church continues to successfully meet all financial obligations. The trust’s main source of income remains tithes, offerings and gift aid. This increased by 11% from the previous year. In addition to this, the Church has continued to generate income from other activities that include the rental of our different residential accommodation and retail units. This increased by 31% from the previous year. This growth in our rental income is directly attributed to the decision made to purchase an investment property in July 2022.

Our expenditure has also increased during the financial year by 23% from the previous financial year. This increase can be attributed to a number of factors which include:

Future Plans

7

Risk Management.

There is adequate insurance cover in place and financial reserves with strong internal controls, which are kept under regular review. DBS checks, supported by regularly reviewed policies are made for all those working with children, young people and other vulnerable groups.

Responsibilities of trustees under charity law

The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the

financial year. In preparing these financial statements, the trustees are required to:

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any material

departures disclosed and explained in the financial statements; and

  1. prepare the financial statements on a going concern basis unless it is inappropriate to presume

that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the trustees and signed on their behalf by:

Edwin Kiarie

Edwin Kiarie

Date: 22 January 2024

8

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

CHRISTIAN LIFE CENTRE OXFORD TRUST ('the Charity')

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 30 April 2023 on pages 10 to 18 following, which have been prepared on the basis of the accounting policies set out on pages 12 to 13.

Responsibilities and basis of report

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

Independent examiner’s statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of Scotland, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Charity 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.

Archie McDowall

Archie McDowall BA, CA Institute of Chartered Accountants of Scotland

Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: 5 February 2024

9

CHRISTIAN LIFE CENTRE OXFORD TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 30 APRIL 2023

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Investment income
4
Total income and endowments
EXPENDITURE ON:
Charitable activities
5
Total expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
12
Other recognised gains/(losses):
Gains/(losses) on revaluation of fixed assets
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
12		 Unrestricted
Funds
£
347,292
92,461
439,753
392,682
392,682
0
47,070
0
47,070
0
47,070
1,555,806
1,602,876		 Restricted
Funds
£
9,827
0
9,827
6,475
6,475
0
3,352
0
3,352
0
3,352
6,494
9,846		 Total
Funds
2023
£
357,119
92,461
449,580
399,157
399,157
0
50,422
0
50,422
0
50,422
1,562,300
1,612,722		 Total
Funds
2022
£
322,081
72,113
394,194
323,090
323,090
0
71,104
0
71,104
0
71,104
1,491,196
1,562,300

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The notes on page 12-18 form part of these accounts.

10

CHRISTIAN LIFE CENTRE OXFORD TRUST

BALANCE SHEET

AS AT 30 APRIL 2023

Note
FIXED ASSETS
Tangible assets
7
Investments
8
CURRENT ASSETS
Debtors
9
Cash at bank and in hand
10
CREDITORS: Amounts falling
due within one year
11
Net current assets / (liabilities)
Total assets less current liabilities
Net assets
TOTAL NET ASSETS
FUND BALANCES
12
Unrestricted Funds
General funds
Revaluation reserve
Restricted Funds		 Total
Total
Unrestricted
Restricted
Funds
Funds
Funds
Funds
2023
2022
£
£
£
£
944,016
0
944,016
936,473
451,493
0
451,493
45,000
1,395,508
0
1,395,508
981,473
118,490
0
118,490
67,326
115,672
9,846
125,518
533,429
234,162
9,846
244,008
600,755
26,795
0
26,795
19,928
207,367
9,846
217,213
580,827
1,602,877
9,846
1,612,723
1,562,300
1,602,877 0
9,846 0
1,612,723 0
1,562,300
1,602,877
9,846
1,612,723
1,562,300
1,362,844
0
1,362,844
1,306,274
240,032
0
240,032
249,532
1,602,876
0
1,602,876
1,555,806
0
9,846
9,846
6,494
1,602,876
9,846
1,612,722
1,562,300		 Total
Funds
2023
£
944,016
451,493
1,395,508
118,490
125,518
244,008
26,795
217,213
1,612,723		 Total
Funds
2022
£
936,473
45,000
981,473
67,326
533,429
600,755
19,928
580,827
1,562,300
1,562,300
1,306,274
249,532
1,555,806
6,494
1,562,300

The financial statements were approved by the Board of Trustees and were signed on its behalf by:

G Reid

_________ G Reid

Date: _____1 February 2024

Charity number: 1074213

The notes on page 12-18 form part of these accounts.

11

CHRISTIAN LIFE CENTRE OXFORD TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2023

1 Statutory Information

The charity is trust registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes:

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

c) Expenditure

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

The cost of raising funds is not significant and has not been separately disclosed.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

12

CHRISTIAN LIFE CENTRE OXFORD TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2023

d) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.

e) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Freehold land Is not depreciated (because it is not consumed by use) Freehold buildings Over 100 years after taking account of the building's residual value Leasehold improvements Over the lease term or, if shorter, expected useful life Equipment Over 20 years Vehicles Over 4 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

f) Pension scheme arrangements

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

g) Taxation

The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

h) Exemption from preparing a cashflow statement

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

i) Critical accounting estimates and areas of judgement

The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.

3 Donations and legacies

Donations and legacies
Donations of cash and similar
Income tax recoverable
Government Grants (Job Retention Scheme)
Other income
Investment income
Property letting
Bank interest		 2023
£
282,429
56,662
0
18,028
357,119
2023
£
92,209
253
92,461		 2022
£
258,561
51,546
6,601
5,373
322,081
2022
£
70,410
1,703
72,113

4 Investment income

13

CHRISTIAN LIFE CENTRE OXFORD TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2023

5 Charitable expenditure

a
Costs incurred directly on specific activities
Employment and pastoral costs
Building Repairs
Venue Hire
Church activities
Event costs
Utilities
Ministry expenses
Children and youth work
Equipment not capitalised
Mission trips and support
Grants payable (note 5c)
b
Costs incurred on support & administration
Governance costs
Independent examiner's fee
Bank charges
Professional fees
Telephone
Insurance
Other office costs
Depreciation of tangible fixed assets
Total expenditure
c
Grants payable
Grants for UK and overseas mission
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
The charity's principal grants to institutions comprised:
Miracle Primary School, Uganda
Christ Rehoboth Rural Missions International Ministry
Bethany Baptist Church Romania
Magdalen Road Church
OYS India Grant
Biserica Crestina Baptista
Grants to institutions for less than £1,000 each		 Institutions
£
26,988
26,988
Institutions
£
33,819
33,819		 2023
£
98,492
20,802
96,000
14,099
17,750
42,982
14,919
14,278
5,488
7,372
30,788
362,968
3,480
3,480
2,112
0
4,795
4,721
4,668
16,413
36,189
399,157
Individuals
£
3,800
3,800
Individuals
£
5,000
5,000
2023
£
14,888
0
0
0
1,000
10,000
1,100
26,988		 2022
£
89,131
9,542
96,000
12,256
0
33,002
4,935
0
1,225
0
38,819
284,909
4,680
4,680
1,635
3,206
3,589
3,865
4,889
16,317
38,181
323,090
2023
£
30,788
30,788
2022
£
38,819
38,819
2022
£
15,719
2,000
5,000
5,000
5,000
0
1,100
33,819

14

CHRISTIAN LIFE CENTRE OXFORD TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2023

6 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses

The average monthly number of employees during the year was 3 (2022: 2). Most of the charity's activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

The charity's key management comprise the trustees named on the Charity Information page. Total employment benefits payable to key management for the year were as follows:

Other Employer
Wages & employment pension 2023
salaries benefits contributions £
Trustees:
Grady Reid 52,615 0 0 52,615

The following amounts were payable in the previous year:

Other Employer
Wages & employment pension 2022
salaries benefits contributions £
Trustees:
Grady Reid 52,615 0 0 52,615

Pastor Grady Reid served as church leader and received the above payments for serving in that capacity, not for serving as trustee; these payments are permitted by the charity's governing document.

7 Tangible fixed assets

Tangible fixed assets
Cost or valuation
At 1 May 2022
Additions
At 30 April 2023
Accumulated depreciation
At 1 May 2022
Charge for the year
At 30 April 2023
Net book value
At 30 April 2023
At 30 April 2022		 Freehold
Property
£
950,000
0
950,000
28,500
9,500
38,000
912,000
921,500		 Fixtures,
fittings and
equipment
£
138,257
19,156
157,413
123,284
6,913
130,197
27,216
14,973		 Vehicles
£
0
4,800
4,800
0
0
0
4,800
0		 Total
2023
£
1,088,257
23,956
1,112,213
151,784
16,413
168,197
944,016
936,473

Freehold property was valued at £950,000 in 2018 by an independent qualified valuer at open market value assuming vacant possession. The trustees are not aware of any material changes in value since then and the valuation has not been updated.

8 Fixed asset investments

Cost or fair value brought forward
Deposit paid on property
Purchases during the year
Disposals during the year
Change in value of investments
Provision for impairment
Cost or fair value carried forward		 Investment
Property
45,000
0
406,493
0
0
0
451,493		 2023
£
45,000
0
406,493
0
0
0
451,493		 2022
£
0
45,000
0
0
0
0
45,000

15

CHRISTIAN LIFE CENTRE OXFORD TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2023

9 Debtors

ors
Falling due within one year:
Tax recoverable
Other debtors
Prepayments
Total debtors		 2023
£
46,572
7,211
64,707
118,490		 2022
£
41,157
8,411
17,758
67,326

10 Cash at Bank and in Hand

Cash at bank with immediate access
itors: liabilities falling due within one year
Trade creditors
Accruals		 2023
£
125,518
125,518
2023
£
12,926
13,869
26,795		 2022
£
533,429
533,429
2022
£
12,926
7,002
19,928

11 Creditors: liabilities falling due within one year

12 Funds

During the year the movements in the charity's funds were as follows:

Restricted Funds
HOPE sponsorship
Regal Building fund
Benevolent fund		 Opening
balance
228
1,081
5,185
6,494		 Incoming
resources
9,827
0
0
9,827		 Outgoing
resources
(6,475)
0
0
(6,475)		 Transfers
in the year
0
0
0
0		 Closing
balance
3,580
1,081
5,185
9,846

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

Tangible fixed assets
Investments
Debtors
Cash at bank and in hand
Creditors falling due within one year
In the previous year the movements in the charity's funds
Restricted Funds
HOPE sponsorship
Regal Building fund
Benevolent fund		 General
funds
£
944,016
451,493
118,490
115,672
(26,795)
1,602,877
were as follows:
Opening
Incoming
balance
resources
0
9,676
1,081
0
5,185
0
6,266
9,676		 Designated
funds
£
0
0
0
0
0
0
Outgoing
resources
(9,448)
0
0
(9,448)		 Restricted
funds
£
0
0
0
9,846
0
9,846
Transfers
in the year
0
0
0
0		 2023
£
944,016
451,493
118,490
125,518
(26,795)
1,612,723
Closing
balance
228
1,081
5,185
6,494

16

CHRISTIAN LIFE CENTRE OXFORD TRUST

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2023

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Tangible fixed assets
Investments
Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
936,473
0
45,000
0
67,326
0
526,935
0
(19,928)
0
1,555,806
0
Unrestricted Funds		 Restricted
funds
£
0
0
0
6,494
0
6,494		 2022
£
936,473
45,000
67,326
533,429
(19,928)
1,562,300

13 Transactions with related parties

During the year, the charity made payments totalling £nil (2022 : £1,700) to Edwin Kiarie, who is a trustee, for providing accountancy services to the charity. The payments made in 2022 were for accountancy services provided in 2020 and 2021. During the year, Cynthia Reid, who is closely related to Grady Reid, a trustee, received employment benefits totalling £16,356 (2022 : £19,261) for providing her services as a pastor to the charity.

17

CHRISTIAN LIFE CENTRE OXFORD TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 30 APRIL 2023

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Investments
4
Other income
Total income and endowments
EXPENDITURE ON:
Charitable activities:
5
Other
Total Expenditure
Net income/(expenditure)
Transfers between funds
12
Other recognised gains/(losses):
Gains/(losses) on revaluation of fixed assets
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
12		 General
2023
£
347,292
92,461
0
439,753
392,682
0
392,682
47,070
0
47,070
0
47,070
1,555,806
1,602,876
Unrestricted funds		 Restricted
2023
£
9,827
0
0
9,827
6,475
0
6,475
3,352
0
3,352
0
3,352
6,494
9,846		 Total
2023
£
357,119
92,461
0
449,580
399,157
0
399,157
50,422
0
50,422
0
50,422
1,562,300
1,612,722		 General
Restricted
2022
2022
£
£
312,405
9,676
72,113
0
0
0
384,518
9,676
313,642
9,448
0
0
313,642
9,448
70,876
228
0
0
70,876
228
0
70,876
228
1,484,930
6,266
1,555,806
6,494
Unrestricted funds		 Total
2022
£
322,081
72,113
0
394,194
323,090
0
323,090
71,104
0
71,104
0
71,104
1,491,196
1,562,300

18