2020-12-31-accounts - Living Waters Church

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LIVING WATERS CHURCH FINANCIAL STATEMENTS 31 DECEMBER 2020

Company Registration Number 03843080 Charity Registration Number 1080165

LIVING WATERS CHURCH

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

CONTENTS	PAGE
Reference and Administration details	1
Trustees annual report	2 - 3
Independent Examiners Report to the Trustees	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the Financial Statements	7 - 10

LIVING WATERS CHURCH

Reference and Administration

Status

Living Waters Church is a company limited by guarantee (registration number 3843080) incorporated on 16 September 1999 and granted charitable status by the Charity Commission under number 1080165.

Trustees

As set out in the Memorandum and Articles of Association, the Board of Trustees must consist of no less than 3 members.

At the first Annual General Meeting all the Trustees retired from office, and at every subsequent AGM one third of the Trustees retire from office. The Trustees to retire are those who have been in place the longest since the last appointment.

A retiring member is eligible for re-election.

The Charitable company can from time to time by ordinary resolution increase or reduce the number of Trustees and determine in what rotation such increased or reduced numbers shall go out of office. The Board of Trustees shall have the power at any time to appoint any person to be a Trustee. The Charitable Company may by ordinary resolution, of which special notice has been given, remove any Trustee.

The Trustees (who are directors for the purpose of company law) who served during the period and since the period end were as follows:

Andrew Butterfield (Resigned 21 May 2021) Susan Regan (Resigned 22 June 2020) Andrew Pitcher (Resigned 21 May “021) David Ackrill Ruth Fingleton (Appointed 19 April 2021) Russell Gregory (Appointed 19 April 2021) Willem Aalbers (Appointed 19 April 2021)

Registered Office

2 Linden Road, Clevedon, North Somerset, BS21 7SN

Independent Examiner

John Panteli, FCA, 8 School View, Wraxall, BS48 1HG

Bankers

Lloyds TSB, 16 The Triangle, Clevedon, North Somerset, BS21 6NB

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LIVING WATERS CHURCH

Trustees Annual Report

The Trustees present their report and the unaudited financial statements of the Charity for the year ended 31 December 2020

Structure, Governance and Management

The Trustees and Elders agree on Objectives for the year as appropriate. This is then reviewed and implemented by the Management Team

Investment Powers

The Company’s Memorandum & Articles of Association place no restrictions on the investment powers of the Trustees

The Directors

The Board of Directors, who are Trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1.

Objectives and Activities

Objects of the charity

To advance the Christian faith anywhere and by any means, including the use of written literature, tapes etc.

The relief of persons who are in conditions of need, hardship or who aged and sick.

Education of children and adults through, if appropriate, the formation of a school or other institution.

Statement of public benefit

The Trustees have complied with their duty under section 4 of the Charities Act 2006 to have regard to the public benefit guidance published by the Charity Commission.

Achievements and Performance

In 2020 we were continuing ‘on a Journey with friends to Freedom’ and were looking at how we could build relationships and serve others in the church, town and world.

The year’s activities were severely restricted by the effects of the Covid pandemic which reduced our opportunity to meet as a church. As a result we switched our focus to meeting on line and by Zoom which worked well with the ‘Bubble Sundays’ which allowed people to meet and discuss issues.

Our donated income was reduced with the lack of meetings but we were very grateful to receive the grant from North Somerset Council.

We continued to serve the community via The Foodbank.

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Financial Review

With the reduction in income this year we have regularly reviewed our cost base to make the best use of our resources.

Grant Making Policy

The Charity will consider all proposals for grants that fall within its defined areas of operation. Each grant would be for a defined period and will relate to a specific project that encompass specific objectives that can be readily defined and monitored

Reserves & Investment Policy

As income is utilised within a short time after receipt the Trustees consider that the most appropriate policy for investing funds is to place them on short term deposit

Responsibilities of the Trustees

The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

The Trustees are required to prepare financial statements for each financial year in accordance with UKGAAP (UK Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources of the charity for that period. In preparing these financial statements the Trustees are required to:

Select suitable accounting policies and then apply them consistently
Make judgements and estimates that are reasonable and prudent
State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business

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 Companies Act 2006. 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.

This report has been prepared in accordance with the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (revised 2005)

Registered office: 2 Linden Road Clevedon North Somerset BS21 7SN

Signed on behalf of the Trustees

D Ackrill….. Trustee

Approved by the Trustees on .....28[th] September 2021

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LIVING WATERS CHURCH

STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account)

YEAR ENDED 31 DECEMBER 2020

Unrestricted Restricted Funds Funds £ £ 63,263 2,490 13,024 - 2 - 10,000 -	Unrestricted Restricted Funds Funds £ £ 63,263 2,490 13,024 - 2 - 10,000 -	Total Funds Year to 31-Dec-20 £ 65,753 13,024 - 2 10,000	Total Funds Year to 31-Dec-19 £ 86,608 18,084 - -
86,289	2,490	88,779	104,692
8,150 75,182 -	3,265 -	11,415 75,182 -	8,903 98,342
83,332	3,265	86,597	107,245
2,957 4,525	(775) 2,074	2,182 6,599	(2,553) 9,152
7,482	1,299	8,781	6,599

The Charity has no recognised gains or losses other than the results for the period as set out above.

All of the activities of the charity are classed as continuing.

The notes on pages 8 to 12 form part of these financial statements

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LIVING WATERS CHURCH

BALANCE SHEET

AS AT 31 DECEMBER 2020

Note Fixed assets Tangible assets 7 Current assets Debtors 8 Cash at bank Creditors : Amounts falling due within one year 9 Net current assets Net assets Funds Restricted funds Unrestricted funds	2020 £ 2,191 1,680 4,910	2019 £ 1,026 1,188 4,385
	6,590 -	5,573 -
	6,590	5,573
	8,781	6,599
	1,299 7,482	2,074 4,525
	8,781	6,599

For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

These financial statements were approved by the trustees on 28 September 2021 and are signed on their behalf by:

…………………

David Ackrill Trustee

The notes on pages 8 to 12 form part of these financial statements

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LIVING WATERS CHURCH NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

a) The financial statements have been prepared under the historical cost convention, and in accordance with the Companies Act 2006, applicable accounting standards and the Statement of Recommended Practice, Accounting and Reporting by Charities issued in March 2005.
b) In accordance with paragraph 383 of SORP 2005, the charity has not prepared consolidated accounts on the basis that the gross income, after consolidation adjustments, of the group in the accounting period is no more than the threshold for a statutory charity audit.
c) Income from donations is included incoming resources when these are receivable, except as follows:

i) When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods.

d) Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
e) Most expenditure is directly attributable to specific activities, and have been included in those cost categories. Support cost have been allocated 100% towards the charitable activities of the charity.
f) Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at year end are noted as a commitment, but not accrued as expenditure.
g) Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Office Equipment - 30% reducing balance PA Equipment - 30% reducing balance
h) Rentals applicable to operating lease agreements where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.
i) Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.
j) Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

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LIVING WATERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

2 Grants payable

Grants payable
Grants paid to individuals Grants to individuals Grants paid to institutions Christians Against Poverty Mission Aviation Fellowship Bulgaria Philippines Others	Unrestricted Restricted Funds Funds £ £ 1,200 2,400 - 1,200 - 1,000 - 1,675 2,490 - 675 775		Total Funds Year to 31-Dec-20 £ 1,200 2,400 1,200 1,000 4,165 - 1,450	Total Funds Year to 31-Dec-19 £ 1,200 2,400 1,200 1,000 1,937 1,166
	8,150	3,265	11,415	8,903

3 Costs of activities

Costs of activities
Wages and salaries Senior Leader Local and national Events & Trips Youth & Children Sunday Teams Support costs Resources Admin items Training Depreciation	Unrestricted Restricted Funds Funds £ £ 54,679 - 377 - 248 593		Total Funds Year to 31-Dec-20 £ 54,679 - 377 - 248 593	Total Funds Year to 31-Dec-19 £ 53,096 1,670 2,617 329 513 2,844
	55,897	0	55,897	61,069
	16,677 1,670 - 938	- - -	16,677 1,670 - 938	29,305 5,360 2,177 431
	19,285	-	19,285	37,273

	75,182	-	75,182	98,342

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LIVING WATERS CHURCH NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020

4 Net incoming resources for the year

This is stated after charging: Depreciation No trustees received out of pocket travel expenses	Year to 31-Dec-20 £ 938	Year to 31-Dec-19 £ 431

5 Staff costs and numbers

The aggregate payroll costs were: Salaries & Social Security Costs	Year to 31-Dec-20 £ 54,679	Year to 31-Dec-19 £ 53,097
	54,679	53,097

No employee received emoluments of more than £60,000.

The average weekly number of employees during the year, calculated on the basis of full time equivalents, was as follows:

Year to	Year to
31-Dec-20	31-Dec-19
No.	No.
2.5	2.5

6 Taxation

The charity is exempt from corporation tax on its charitable activities.

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LIVING WATERS CHURCH

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

7 Tangible fixed assets Net Book Value Opening Balance Additions sub total Depreciation Closing Net Book Value	Year to 31-Dec-20 1,026 2,103 3,129 938 2,191	Year to 31-Dec-19 1,467 -
		1,467 441 1,026

8 Debtors

Rental Deposit on Office 9 Creditors: amounts falling due within one year Accruals	Year to 31-Dec-20 £ 1,680	Year to 31-Dec-19 £ 1,188
	1,680	1,188
	Year to 31-Dec-20 £ -	Year to 31-Dec-19 £ -
	-	-

10 Commitments under operating leases

At 31 December 2020 the charity had no annual aggregate commitments under non-cancellable operating leases.

11 Company limited by Guarantee

The company is limited by guarantee and as such has no issued share capital. in the event of the company being wound up the liability of the members is limited to £1 each.

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Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ members of

Living Waters Church

On accounts for the year 31[st] December 2020 Charity no 1080165 ended (if any)

Set out on pages 1-11

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The

charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
to state whether particular matters have come to my attention.
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Basis of independent examiner’s statement

Independent In connection with my examination, no matter has come to my attention examiner's statement 1. which gives me reasonable cause to believe that in, any material respect, the

which gives me reasonable cause to believe that in, any material respect, the requirements:
to keep accounting records in accordance with section 130 of the Charities Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Please delete the words in the brackets if they do not apply.

Signed: John Pantelli

Date: 21 October 2021

Name: John Panteli

Relevant professional Chartered Accountant, ICAEW qualification(s) or body (if any): Address: 8 School View Wraxall BS48 1HG

IER

Section B Disclosure

[Only complete if the examiner needs to highlight material problems. ] NIL Give here brief details of NIL any items that the examiner wishes to disclose .

IER