## Christian Life Centre Oxford Trust
Report and Accounts Year ended 30 April 2024
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **CHRISTIAN LIFE CENTRE OXFORD TRUST**
## **CHARITY INFORMATION**
## **FOR THE YEAR ENDED 30 APRIL 2024**
## **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|2-7|
|Independent Examiner's Report|8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Notes to the Accounts|11-16|
|Detailed Statement of Financial Activities with Comparatives|17|
Page 1
## **Christian Life Centre Oxford Trust**
## **The Trustees Annual Report for the Period Ending 30th April 2024**
This report is the trustees account of the overall performance of the Christian Life Centre Oxford Trust for the accounting period of 1st May 2023 – 30th April 2024. This report represents the activities that CLC has undertaken during this financial year to promote the Christian Gospel and its values. This report also provides information as to how the trust finances have been assigned to activities within the financial year.
## **Acknowledgement**
Firstly, we would like to appreciate all the church members, leaders, and ministers who, over the financial year, have continued to dedicate themselves to the work of the Lord. It is the selfless work of the ministers, leaders, and members of the church, employed or not, that continues to make the difference in helping the ministry achieve its aims and objectives. The church is supported by a large number of volunteers serving in different church capacities. Their dedication and commitment have been instrumental in the success of our various programs and initiatives.
## **Governance**
The Trust's purpose is to preach the Gospel, relieve persons in conditions of hardship and distress, both in the UK and overseas, and assist in the advancement of education on Christian principles. The trustees have given full regard to the public benefit guidance published by the Charity Commission. More details of the objectives of the Trust are available in our governing document as stated within the Charity Commission's entry. The trustees are committed to maintaining transparency and accountability in all our operations, ensuring that our activities align with our mission and values.
Directions relating to the charitable trust are made by the Trustees in consultation with leaders and ministers, who have leadership responsibilities for different areas of the church.
The powers of appointment or removal of Trustees rests with the Trustees. New Trustees are primarily selected from the members of the church, since this means the Trustee body is whole heartedly involved in seeing the mission of the church worked out in practice.
On being appointed new Trustees spend time with the existing Trustees to ensure they understand their responsibilities and the legal and financial framework in which the church operates.
**Vision Statement** : The church has revised its vision statement to reflect our changing commitment to the gospel and our growing faith in our Lord Jesus Christ. The new emphasis is our response to a life of holiness, personal growth before reaching out to others.
## **Local Church Activities**
- **Visiting Pastors** : We welcomed visiting ministers including Pastor Lucky from Oxford Young Steps (OYS), Richard Agyei from Love Assembly in London, and international evangelist Dr. Guy Peh. Their messages encouraged us to remain strong and faithful to the Christian mandate.
Page 2
- **Leadership Development** : Monthly leadership development meetings were held at the homes of individual leaders and ministers, fostering intimacy and fellowship. These meetings included shared meals, enhancing the sense of community and collaboration among our leaders.
- **Prison Ministry** : Two volunteers visit Bullingdon prison each month, where inmates gather to hear the word of God and receive prayer and spiritual support. This ministry helps inmates find hope and purpose, offering them a chance for spiritual growth and rehabilitation.
- **Angel Tree Project** : This ministry supports children whose fathers are in prison by providing Christmas gifts. The aim is to remind these children of their fathers' love and provide them with a sense of normalcy during the holiday season. The project also involves small groups and individuals who receive grants to support local and international initiatives.
## **Didcot Church**
Christian Life Centre expanded with a new branch in Didcot, commencing services in July 2023. Didcot is a vibrant community in Oxfordshire known for its significant population growth and bustling business sector. The new branch aims to integrate into this flourishing community and share the message of Jesus Christ with those who have not yet encountered it. Our primary objective is to reach individuals who do not know Christ and to provide a welcoming place of worship for those seeking a church home.
- **Services and Gatherings** : Our church services are held every Sunday, complemented by Wednesday Bible studies that provide an opportunity for members to delve deeper into the teachings of God’s Word. These gatherings are designed to inspire, educate, and support personal spiritual growth and a deeper relationship with the Lord.
- **Evangelism Outreach** : For several months, the church has conducted weekly evangelism activities, sharing the gospel throughout the town of Didcot. Our members hand out gospel tracts and engage with individuals to discuss their relationship with Christ. This outreach has been instrumental in spreading the message of God's love and inviting new members to join our community.
- **Friday Prayer Meetings** : Held on the last Friday of each month, these meetings unite the church in prayer and reflection, focusing on seeking God’s guidance for our mission work and the wellbeing of the Didcot community. These prayer meetings have become a cornerstone of our spiritual life, fostering a sense of unity and purpose among members.
- **Stewardship Training** : We have organized stewardship development sessions to equip our volunteers with the skills needed to serve effectively and uphold the values of Christian Life Centre. These sessions cover various aspects of stewardship, including financial management, time management, and the importance of serving with a heart of humility and dedication.
- **Visitation Ministry** : The church has conducted numerous visits to support and encourage members facing personal challenges, offering prayer and practical assistance to those in need. This ministry has been vital in building a supportive and caring community, ensuring that no member feels isolated or unsupported.
- **Community Integration** : The Didcot branch’s activities reflect our unwavering commitment to being a beacon of God’s love and a supportive community resource. We have already welcomed community members into our services, forming meaningful connections and fostering spiritual
Page 3
growth. We are excited to see how God will work through our new church as we strive to build a loving, mission-driven community in Didcot.
- **Workshops** : Mental Health Matters workshop held on 14th October 2023, focusing on grief, bereavement, and loss. The workshop featured guest speakers from Oxfordshire Talking Space Plus, NHS, and CLC, and was attended by 85 participants. The workshop aimed to educate the church and the wider community on the importance of mental health and provide strategies for coping with grief and loss.
## **Church Ministries**
- **Future (Youth Ministry)** : Engages in bi-weekly meetings, movie evenings, one-to-one meetings, and targeted sessions for boys and girls. The ministry has an attendance of approximately 45 young individuals, with 85% being members of CLC Oxford and 15% from other local churches. The focus during the FY 23/24 period was on God's Holiness, covering topics such as sexuality, the biblical definition of holiness, and its implications for believers. The ministry has seen increased vulnerability, accountability, spirit-led worship, and enhanced communication among young people. The leadership team consists of nine youth leaders and five helpers, all DBS certified. In the first quarter of 2024, the team participated in a three-day youth training program conducted by Vineyard Church in Nottingham.
- **Acts Ministry** : In April 2023, Acts Ministry started enrolling candidates for the Freedom in Christ Discipleship course. The course began with 15 students and aims to empower believers by deepening their understanding of faith in Christ. It helps Christians live a life based on biblical truth, liberating them from life's burdens and enabling them to become fruitful disciples. In August 2023, 10 students enrolled in baptism classes, and by October 2023, all 10 candidates were baptized.
- **Agape Ministry** : This ministry serves the church by visiting and praying for the sick, absentees, and new families. Monthly team meetings are held at 49 Oxford Road or in members' homes. In December 2023, the ministry organized Christmas vouchers, flowers, and chocolates for over 15 members aged 65 and above. The ministry also supports families experiencing bereavement, assists in organizing burial services, and ensures that members unable to attend church receive phone calls and visits to prevent isolation.
- **Worship and Music Ministry** : Regular training sessions occur once a month on the last Friday. These sessions cover various aspects of worship leadership, including preparation, putting others' needs first, taking ownership, and representing the church both on and off stage. Vocal warm-up sessions and videos support singers before ministering on Wednesdays and Sundays.
- **Media Team** : The media team provides live Sunday transmissions of services and manages the church's Facebook, website, and Instagram pages. In May 2023, the team built a custom PC to replace the old projection PC, significantly improving performance. In December 2023, a stage display was introduced to support the choir, ministers, and moderators. Regular team meetings throughout the year foster teamwork, creativity, and a commitment to excellence in media operations.
- **Levitical Ministry** : The team has 28 active members divided into weekend and Sunday teams. The ministry focuses on maintaining cleanliness and safety in the church, conducting three
Page 4
spring cleans and polishing the auditorium floor twice during the year. The team also organizes get-togethers and shared meals to foster a sense of community.
- **Ushers Ministry** : The Ushering Ministry consists of three teams: Ushers, Security, and Car Park Attendants, led by Bro. Joseph Agyei with the support of eight team leaders. The ministry ensures order and safety during services and events, supports bereaved and sick members, and celebrates significant life events within the team. Regular bi-monthly meetings are held to discuss challenges, achievements, and areas for improvement.
- **Children’s Ministry (Ablaze)** : The ministry focuses on growing in Christ, with 60-70 children attending each Sunday, supported by 27 volunteers. Activities include team meetings with scriptural encouragement, lunch provided by team members, and discussions on effective systems and policies. Key highlights include moving into a new children's church room and organizing a family day out. The ministry also supports other church activities by providing childcare and has seen positive feedback from parents and children.
- **Hospitality Team** : The team serves the church every Sunday with tea, coffee, biscuits, and patties. Monthly meetings focus on improving service and spiritual growth, emphasizing the importance of sitting at the feet of Jesus. The team also organizes a Christian movie evening once a month to encourage unchurched people in their faith.
## **Church Activities Abroad**
- **HOPE Project** : This project focuses on supporting marginalized children in Uganda, particularly orphans and needy children at Miracle Primary School. The project provides financial support for education, medical expenses, and personal development. Monthly donations from individuals help improve the social and spiritual well-being of these children. The ministry has seen children graduate to secondary school and families receive immediate support in upkeep and medical care. A Memorandum of Understanding with the church in Uganda commits us to providing bimonthly financial support for three years. Two liaison officers in Uganda focus on the children's well-being and personal development.
- **Kenya Water Project:** In 2011 the church was able to construct a bore-hole in the Masai Mara region of Kenya. The project has proven exceptional and now provides wate to around four different villages in the area. The governor in the region has now put plans in place to pipe the water directly to these villages. Our senior Pastor along with another CLC minister was able to travel to Keya in September 2023 to view the progress of this project and open a new stone-built church. The bore-hole has proven be an overwhelming success, providing clean water for the village. Therefore, impacting the health, finances and the growth of the community.
- **Oxford Young Steps Project in India** : This project provides medical, spiritual, emotional, and residential support for the underprivileged in India. It aims to improve the quality of life for those in need through holistic support, addressing various aspects of their well-being.
## **Church Finances**
This was the Trust's 28th full year of ministry, demonstrating a healthy level of income. The main sources of income remain tithes, offerings, and gift aid, supplemented by rental income from residential accommodation and retail units.
Page 5
The total income for 2023-24 saw a significant increase compared to 2022-23. This growth was primarily driven by higher donations and property letting income, despite a decrease in other income sources.
The total expenditure for 2023-24 increased compared to 2022-23. Key areas of increased spending included employment and pastoral costs, utilities, and children and youth work, while significant savings were made in building repairs and event costs.
Overall, the church is financially stable and has continued to meet all its financial obligations; we cannot envisage any reasons why this should change in the near future. We expect our voluntary income to continue to grow as the church grows and we are putting in place policies and ideas which will result in the growth of our rental income.
## **Reserves Policy**
A policy is in operation whereby the operating reserve of the trust is to be held of approximately six months of normal operating expenditure. This equates to around £100,000 with the year-end free reserves exceeding that.
Reserves are set aside to provide a financial cushion in case of unexpected events, emergencies, or opportunities. These funds are not intended for regular operational expenses but for extraordinary circumstances.
## **Future Plans**
- The church continues to support young people (Future) and provide an atmosphere for children (Ablaze) to flourish.
- The trustees are actively looking at investing unused income and acquiring residential church property.
- The church continues to offer grants to different organizations, both local and international, as part of our mission response and our target is to give grants totalling 10% of the Trust’s income.
- We are actively seeking new mission partnerships and looking for a new permanent place for our main Sunday meetings.
- The future plans also include expanding our community outreach programs and enhancing our online presence to reach a wider audience.
## **Risk Management**
All major insurable risks are subject to normal Churches and employers’ insurance. Contractual risks are reviewed before being entered into to assess that they could not significantly impact upon the Church's ability to fulfil its objectives.
An annual review of areas of risk is undertaken by the Trustees in conjunction with staff and volunteers responsible for the area of activity.
## **Statement of Trustee Responsibilities**
Charity law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charity and of the profit and loss of the Charity for that period. In preparing these accounts, the trustees are required to:
- Select suitable accounting policies and then apply them consistently.
- Make adjustments and estimates that are reasonable and prudent.
Page 6
- State whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts.
- Prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the accounts comply with the Charities Acts. 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.
The trustees confirm that the accounts comply with current statutory requirements and those of the Charity’s trust deed.
Approval
This report was approved by the trustees and signed on their behalf by
G. Reid G. Reid (Feb 7, 2025 10:29 GMT)
G. Reid
Date: Feb 7, 2025
Page 7
## **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 2024 on pages 9 to 17 following, which have been prepared on the basis of the accounting policies set out on pages 11 to 12.
## **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 (Feb 10, 2025 16:29 GMT)
Archie McDowall BA, CA Institute of Chartered Accountants of Scotland
Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: Feb 10, 2025
Page 8
## **CHRISTIAN LIFE CENTRE OXFORD TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 30 APRIL 2024**
|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
£
363,278
116,848
480,126
421,590
421,590
0
58,534
0
58,534
0
58,534
1,602,877
1,661,412|Restricted
Funds
£
12,729
0
12,729
11,964
11,964
0
765
0
765
0
765
9,846
10,611|Total
Funds
2024
£
376,007
116,848
492,855
433,554
433,554
0
59,299
0
59,299
0
59,299
1,612,723
1,672,023|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|
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 11-17 form part of these accounts.
Page 9
## **CHRISTIAN LIFE CENTRE OXFORD TRUST**
## **BALANCE SHEET**
## **AS AT 30 APRIL 2024**
|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|Unrestricted
Funds
£
930,192
451,493
1,381,684
51,190
254,099
305,289
25,562
279,727
1,661,412
1,661,412
1,661,412
1,435,395
226,017
1,661,412
0
1,661,412|Restricted
Funds
£
0
0
0
0
10,611
10,611
0
10,611
10,611
10,611
10,611
0
0
0
10,611
10,611|Total
Funds
2024
£
930,192
451,493
1,381,684
51,190
264,710
315,900
25,562
290,338
1,672,023
1,672,023
1,672,023
1,435,395
226,017
1,661,412
10,611
1,672,023|Total
Funds
2023
£
944,016
451,493|
|---|---|---|---|---|
|||||1,395,508|
|||||118,490
125,518|
|||||244,008
26,795|
|||||217,213|
||||||
|||||1,612,723|
|||||1,612,723|
|||||1,612,722|
|||||1,362,844
240,032|
|||||1,602,876
9,846|
|||||1,612,722|
The financial statements were approved by the Board of Trustees and were signed on its behalf by:
## G. Reid
> G. Reid (Feb 7, 2025 10:29 GMT) Feb 7, 2025 _______________________________________ Date: _________________ G Reid Charity number: 1074213
The notes on page 11-17 form part of these accounts.
Page 10
## **CHRISTIAN LIFE CENTRE OXFORD TRUST**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 APRIL 2024**
## **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:
- i) Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
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.
Page 11
## **CHRISTIAN LIFE CENTRE OXFORD TRUST**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 APRIL 2024**
## 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
Other income
**Investment income**
Property letting
Bank interest|2024
£
303,642
61,340
11,025
376,007
2024
£
116,654
194
116,848|2023
£
282,429
56,662
18,028|
|||357,119|
|||2023
£
92,209
253|
|||92,461|
## **4 Investment income**
Page 12
## **CHRISTIAN LIFE CENTRE OXFORD TRUST**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 APRIL 2024**
## **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)
Didcot Branch
**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_
_OYS India Grant_
_Biserica Crestina Baptista_
_Grants to institutions for less than £1,000 each_|Institutions
£
33,529
33,529
_Institutions_
_£_
26,988
_26,988_|2024
£
113,722
12,241
94,667
19,198
0
61,709
5,170
22,677
4,831
5,719
39,929
7101
386,964
3,780
3,780
1,978
1,500
4,803
6,517
4,926
23,086
46,590
433,554
Individuals
£
6,400
6,400
_Individuals_
_£_
3,800
_3,800_
_2024_
_£_
22,829
10,000
0
700
33,529|2023
£
98,492
20,802
96,000
14,099
17,750
42,982
14,919
14,278
5,488
7,372
30,788
0|
|---|---|---|---|
||||362,968|
||||3,480|
||||3,480
2,112
0
4,795
4,721
4,668
16,413|
||||36,189|
||||399,157|
||||2024
£
39,929|
||||39,929|
||||_2023_
_£_
30,788|
||||_30,788_|
||||_2023_
_£_
14,888
1,000
10,000
1,100|
||||26,988|
Page 13
## **CHRISTIAN LIFE CENTRE OXFORD TRUST**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 APRIL 2024**
## **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 (2023: 3). 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|2024|
||salaries|benefits|contributions|£|
|Trustees:|||||
|Grady Reid|55,615|0|0|55,615|
|The following amounts were payable in the previous year:|||||
|||Other|Employer||
||Wages &|employment|pension|2023|
||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**
|Cost or valuation
At 1 May 2023
Additions
At 30 April 2024
Accumulated depreciation
At 1 May 2023
Charge for the year
At 30 April 2024
Net book value
At 30 April 2024
At 30 April 2023|Freehold
Property
£
950,000
0
950,000
38,000
14,015
52,015
897,985
912,000|Fixtures,
fittings and
equipment
£
157,413
9,261
166,674
130,197
7,871
138,068
28,607
27,216|Vehicles
£
4,800
0
4,800
0
1,200
1,200
3,600
4,800|Total
2024
£
1,112,213
9,261|
|---|---|---|---|---|
|||||1,121,474|
|||||168,197
23,086|
|||||191,283|
|||||930,192|
|||||944,016|
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**
|**d 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|2024
£
45,000
0
406,493
0
0
0
451,493|2023
£
45,000
0
406,493
0
0
0|
||||451,493|
Page 14
## **CHRISTIAN LIFE CENTRE OXFORD TRUST**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 APRIL 2024**
## **9 Debtors**
|**ors**|||
|---|---|---|
|**Falling due within one year:**
Tax recoverable
Other debtors
Prepayments
**Total debtors**|2024
£
27,046
8,811
15,333
51,190|2023
£
46,572
7,211
64,707|
|||118,490|
## **10 Cash at Bank and in Hand**
|Cash at bank with immediate access
**itors: liabilities falling due within one year**
Trade creditors
Accruals|2024
£
264,710
264,710
2024
£
13,126
12,436
25,562|2023
£
125,518|
|---|---|---|
|||125,518|
|||2023
£
12,926
13,869|
|||26,795|
## **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
3,580
1,081
5,185
9,846|Incoming
resources
12,729
0
0
12,729|Outgoing
resources
(11,964)
0
0
(11,964)|Transfers
in the year
0
0
0
0|Closing
balance
4,345
1,081
5,185|
|---|---|---|---|---|---|
||||||10,611|
## **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|General
funds
£
930,192
451,493
51,190
254,099
(25,562)
1,661,412|Designated
funds
£
0
0
0
0
0
0|Restricted
funds
£
0
0
0
10,611
0
10,611|2024
£
930,192
451,493
51,190
264,710
(25,562)|
|---|---|---|---|---|
|||||1,672,023|
_In the previous 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_|
Page 15
## **CHRISTIAN LIFE CENTRE OXFORD TRUST**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 APRIL 2024**
## _**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_
_£_
_£_
_944,016_
_0_
_451,493_
_0_
_118,490_
_0_
_115,672_
_0_
_(26,795)_
_0_
_1,602,876_
_0_
_Unrestricted Funds_|_Restricted_
_funds_
_£_
_0_
_0_
_0_
_9,846_
_0_
_9,846_|_2023_
_£_
_944,016_
_451,493_
_118,490_
_125,518_
_(26,795)_|
|---|---|---|---|
||||_1,612,722_|
## **13 Transactions with related parties**
During the year, the charity made payments totalling £1,500 (2023 : £nil) to Edwin Kiarie, who is a trustee, for providing accountancy services to the charity. During the year, Cynthia Reid, who is closely related to Grady Reid, a trustee, received employment benefits totalling £17,852 (2023 : £16,356) for providing her services as a pastor to the charity.
Page 16
## **CHRISTIAN LIFE CENTRE OXFORD TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES**
## **FOR THE YEAR ENDED 30 APRIL 2024**
|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
2024
£
363,278
116,848
0
480,126
421,590
0
421,590
58,534
0
58,534
0
58,534
1,602,877
1,661,412
Unrestricted funds|Restricted
2024
£
12,729
0
0
12,729
11,964
0
11,964
765
0
765
0
765
9,846
10,611|Total
2024
£
376,007
116,848
0
492,855
433,554
0
433,554
59,299
0
59,299
0
59,299
1,612,723
1,672,023|||General
Restricted
2023
2023
£
£
347,292
9,827
92,461
0
0
0
439,753
9,827
392,681
6,475
0
0
392,681
6,475
47,071
3,352
0
0
47,071
3,352
0
47,071
3,352
1,555,806
6,494
1,602,877
9,846
Unrestricted funds|Total
2023
£
357,119
92,461
0
449,580
399,156
0
399,156
50,423
0
50,423
0
50,423
1,562,300
1,612,723|
|---|---|---|---|---|---|---|---|---|
Page 17