Charlty reglstratlon number 1085554 (England and Wales) Company reglstratlon number 04105589 LONDON FAMILY CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
LONDON FAMILY CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Rev. D Tamang Ms E Boachie-mensah Mr R K Varghese Secretary Rev. D Tamang Charlty number (England and Wales) 1085554 Company number 04105589 Reglstered office 234 Royal College Slreet London NW19NJ Independent examlner Rouse Partners LLP 55 Station Road Beaconsfield Buckinghamshire United Kingdom HP9 1QL
LONDON FAMILY CENTRE CONTENTS Page Trustees, report Independent examlner's report Statem8nt of financial activitles Balance sheet Notes to the financial statements 8-15
LONDON FAMILY CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees (who are also directors of the Charity for the purposes of the Compnaies Act) pres8nt thelr annual report and financial statements for the year ended 31 December 2024. The financial statements hav8 been pr8pared In accordance wlth the accounting policles set out In note 1 to tha financial statements and comply with the charity's governlng document, the Companles Act 2006, FRS 102 "The Flnanclal Reporting Standard applicable In the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing thelr accounts in accordanc& with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" ObJe¢tlves and actlvltl8s The aims and objectives of the London Family Centre are: To provide care, help, and relief to any person in n88d from poverty, unemployment, or sickness. To offer community supporl and help enhance the social and spiritual life of individuals who may require such assistance. regardless of age. denomination, or creed - suffering A¢hlevements and performance Since its establishment in 2001, the London Family Centre has continued lo provide support and services to Londoners and beyond. Our core mission is to promote spiritual, emotional, and psychological development among our members and the wider community. These goals are achieved through a range of activities, Including: . Talks, seminars, and conferences Classes and counselling Church meetings and community outreach Financial and practical assistance for thoso in need Educational and youth-focused programmes, including movie nights and social events Management Commlttee Report Watch Nlght Servlce The annual Watch Nlght Service was held on 31 December 2024 at The Internatlonal Gospel Church, Burnt Oak, to welcome the New Year 2025. It was a joyful celebration attended by approxlmately 150 people, featuring prayers of thanksgiving, pralse, and worshlp through singing and dancing. Rev. Dorj8y Tamang delivered an insplrlng messag8 that prepared the congregatlon for the year ahead. Theme of the Year-"Year of Empowerment" The theme for 2024 was °Y8ar of Empowerment., Throughout the year, R8v. Tamang contlnued to Insplre and equip the congregatlon with teachings focus8d on splritual empowerment. The year began wlth a 21-Day Solemn Ass8mbly, engaging the entlre Church in prayer and fastlng as famllies sought God's guidance for the new year.
LONDON FAMILY CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Food Bank Inltlatlve In January 2024. Rev. Dorjey Tamang encouraged the congregation to bring non-perishable food items quarterly to be displayed in church on Sundays. These items were made available to those in need, and the Initiativ8 has been a great success, reflecling the church's heart for compassion and generosity. Ministry Actlvltles In March 2024, LFC hosted a three-day Easter Family Camp from 28th-30th March at Staverton Park, Daventry (Northampton) under the theme "Living in the Resurreclion Power." Over 300 believers atlended including our two daughter church from Northampton and Covenlry. The camp provided a lime ofteaching, fellowship, and spiritual renewal for all attendees. In April 2024, the Camden and South Harrow congregations were merged into a single church meeting at Vue Cinema. Harrow (St. George's Shopping Centre). Since the move, the church has experienced remarkable numerical and spiritual growth. with a strong revlval among Men, Women, Singles, Couples. and Youth. A new initiative, the Christian Development Programme (CDP), was Introduced to strengthen members, faith and deepen their relationship wilh God. Easter Outreach A special Resurrection Sunday Service was held at Vue Cinema, Harrow. Many newcomers joined through the evangelism outreach team's efforts. marking it as one of the most fruitful outreach events of the year. Youth Minlstry Beginnlng In January 2024, the Youth Mlnlstry held monthly youth servlces at the Camden Shgd. In July, the team organised a Youth Plcnlc Outreach, engaglng young people from both local and natlonal networks. In August, five consecutive Famlly and Fellowship Sundays were dedicated to creative and communlty-building activities, including: Shopping centre evangellsm Movie Sundays Breakfast Sundays . Games Sundays These events brought great excltement durlng the hollday season and led to several n8w members Joining the church. Chlldren's Mlnlstry The Children's Mlnlstry now operates from Its own cinema hall and Introduced a new teachlng curriculum called "Think Orange." This engaging, faith-based programme has been very successful. Activities such as Bible quizzes, games, and pizza parties have helped foster enthusiasm, joy, and con51Stent attendance among children.
LONDON FAMILY CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Semlnars, Conferences, and Guest Speakers Throughout 2024, the church hosted a variety of guest speakers, s8minars, and conferences aimed at slrengthening faith and community life. Leadership, family, and youth seminars were conducted for Singles, Couples, Parent5. Men, Women, and Youth both within LFC and in Collaboration with partner ministries. Regular weekly Bible studies, monthly celebrations, and community gatherings continued, while the Family Baptism Beach Day at Walton on the Naze in July was a joyful highlight for all participants. Language Fellowship Services LFC'S language fellowshlps throughout the year. These fellowships have enabled the church to serve its diverse congregatlon more effectively through regular Bible studies, connect groups, and discussions addressing key life topics. including Nepali, Filipino, Sri Lankan, and Mauritlan groups continued to thrive Chrlstmas Famlly Celebration The year concluded with a Joyful Christmas Family Celebration on 21 December 2024. Over 280 people attended the event, which featured carols. delicious meals, and warm fellowship. It was a fitting conclusion to a blessed and fruitful year for the entire LFC family. Flnanclal r8view The London Family Centre continues to manage its finances prudently and transparently. Income during the year was primarily derived from member donations, offerings. and fundraising aclivltles, while expanditure was focused on venue hire, ministry activities. outreach programmes, and charitable support. Despite the Increased costs associated wlth the move to th& new venue, the church maintained 8 stsble financial position, with all obligations met promptly. The Management Committee extends sincere appreciation to all members and partners who contributed faithfully throughout the yèar. A full slatement of accounts for the year ended 31 December 2024 has been prepared and will be submitted to the relavant authorities in accordance with the Charity Commlsslon guid81ines. Plans for future perlods Looklng ahead, the London Family Centre aims to build upon the strong foundation established in 2024. Our goals for 2025 include: Deepening Discipleship: Expanding the Christian Development Programme (CDP) and small group fellowships. Community Engagement- Strengthening outreach in local communities through food distribution, counselling, and support neOrkS. . Youth and Children's Growth: Developing leadership and creative arts programmes for young people. Facility Development.. Exploring opportunities for a permanent worship and community cenlre. Leadership Training.. Equipping mlnistry leaders for greater impact and effective service. Prayer and Revival Focus.. Continuing with corporate fasting, prayer, and revival servlces throughout the year. The Management Committee remains committed to fulfilling the mission of LFC - to See, uplift, and empower individuals and familles through the love of Chrlst. Slructure, governance and management Govarning Document The charity is a company limited by guarantee , incorporated on 10 November 2000 and registered as a charity on 14 March 2001. The company was established under a Memorandum ofAssoclatlon which established the objects and powers of the charilable company and is governed under the Articles of Association.
LONDON FAMILY CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statement5 were.. Rev. D Tamang Ms E Boachie-mensah Mr R K Varghese A¢knowledg8ments The Committee expresses heartfelt thanks to Rev. Dorjey Tamang. the pastoral team, mlnistry leaders, volunteers, and all members for their faithfulness and tireless dedication. We also extend our appreciation to our partners, donors, and the wider community for their ongoing support. Together. we celebrate a fruitful year and look forward to even greater impact In 2025. The trustees, report was approved by the Board of Truslees. Rev. D Tamang Trustee 13-Nov-2025
LONDON FAMILY CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LONDON FAMILY CENTRE I report to thè Irusteas on my examination of the financial statements of London Family Centre (the charity) for the year ended 31 December 2024. Responslbllltles and basls of report As the Irustees of Ihe charily land also ils directors for the purposes of company law), you are responsible for the preparation of the financial statemenls in accordance with the requirements of the Companies Act 2006. Having satisfied myself thal the financial statements of Ihe charity are nol required lo be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I reporl in respect of my examination of the charity's financial statements carried out under seclion 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(51(b) of the Charities Act 2011. Independent examlner's statement I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause to believe Ihat in any material respect.. accounting records were not kept in respect of Ihe charity as required by section 386 of the Companies Act 2006. the financial statements do not accord with those records. or the financial statements do not comply with the accounting requirements of section 396 of tha Companies Act 2006 other than any requirement that the financial slatements give a true and fair view, which 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 charilies applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no Goncerns and have Gome 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 financial statements to be reached. Rouse Partners LLP 55 Station Road Beaconsfield Buckinghamshire HP9 1QL United Kingdom Date..
LONDON FAMILY CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Restrlcled funds 2024 Total Unrestrlcted funds 2023 2024 Notes Income from: Donations and legacies Investments 189.781 1.259 6,120 195,901 1,259 130,344 900 Total income 191,040 6.120 197,160 131,244 Expenditure on: Raising funds Charitable activities Support costs Governance costs 23,048 23.048 20,142 169,299 12.681 169.299 15,395 74,931 8.373 2,714 Total charltable expendlture 181,980 2.714 184,694 83,304 Total expendlture 205.028 2,714 207,742 103,446 Net incomel{expenditure) (13,988) 3,406 (10,582) 27,798 Other recognised gains and losses: Revaluation of tangible fixed assets 500,000 500,000 Net movement In funds 486,012 3,406 489,418 27,798 R8conclllatlon of funds". Fund balances at 1 January 2024 592,773 592,773 564,975 Fund balances at 31 December 2024 1,078.785 3,406 1,082.191 592,773 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
LONDON FAMILY CENTRE BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Flxed assets Tangible assels 11 999,009 499,070 Current assets Cash at bank and in hand 96,681 97,788 Creditors: amounts falllng due wlthln one year 12 (13,499) (4,085) Net current assets 83,182 93,703 Total assets less current liabilities 1.082,191 592,773 The funds of tha charlty Restricted income funds Unrestricted funds 14 15 3,406 1,078,785 592,773 1,082,191 592,773 The company is entitled to the exemption from the audit r8qulr8ment contalnad In s8Ction 477 of the Companies Act 2006, for the year ended 31 December 2024. The directors acknowledge Ihelr responslbllities for complying with the requlrements of the Companies Act 2006 with respect to accounting records and the preparation of financlal statemants. The members have not required the company to obtain an audit of Its financial statements for the year in quoslion in accordance with secllon 476. These financial statements have been prepared in accordance with the provlslons applScable to companies subject to the small companies regime. The financial statements were approved by the trustees on 13-Nov-2025 Rev. D Tamang Trustee Company registration number 04105589 (England and Wales)
LONDON FAMILY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollclas Charlty Informatlon London Family Cenlre is a private company limited by guarantee incorporated in England and Wales. The registered office is 234 Royal College Street. London, NW19NJ. This charity is established for charitable purposes only and operates for the public benefit in accordance with the law. All activities. services. and projecls undertaken by the charity are designed to further its stated charitable purposes and to benefit the public or a sufficient seclion of the public. 1.1 Basls of preparation The financial statements have been prepared in accordance with the charity's governing documenl. the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" The charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities nol to prepare a statement of cash flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounls in these financial statements are rounded to the nearest £. The financial slatemenls have been prepared under the historical cost convention modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approvlng the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financlal slatements. 1.3 Charltable funds Unrestricted funds are available for use at the discrelion of the trustees in furtherance of their charitable objectives and which have not been designated for other purposes. Restrlcted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial slatements. Endowment funds are subject to speclfic conditions by donors that the capltal must be maintalned by the charity, 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that Income will be received. Cash donatlons are recognised on receipt. Other donatlons are recognised On the charlty has b8en notified of the donation, unless performance conditions requlre deferral of the amount. Income tax recoverable In relation to donations received under Gift Aid or deeds of covenant is recognised at the tim8 of the donation. Legacles are recognised on receipt or otherwlse if the charity has been notified of an impending dislribution. the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset.
LONDON FAMILY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounllng pollcles (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligatlon to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in seltlemenl, and the amount of the obligation can be measured reliably. Expendilure is classified by actlvlty. The costs of each activity are made up of the total of direct costs and shared costs, including support costs Involved in undertaklng each activity. Direct costs attributable to a slngle activity are allocated directly to that activity- Shared ¢osls whlch contribute to more than one acllvlly and support costs which are not attributable to a single activity are apportloned between those aclivities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreclatlon charges are allocated on the portion of the asset's use. Support costs are those costs incurred directly in support of expenditure on the objects of the company. Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charlty In the delivery of Its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and thos8 costs of an indirect nature neSSary to support them. Govemance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include Ihe audit fees and costs linked to the strategic management of the charity. - All resources expended are inclusive of irrecoverable VAT. 1.6 Tangible flxed assets Tangible fixed ass81s are inilially measured at cost and subsequently measured at cost or valuation. net of depreciation and any impairm8nt losses. Depreciation is recognised so as to write off the Cost or valuation of assels less their residual values over their useful lives on the following bases: Leasehold land and buildings Leasehold improvements Fixtures and fittings Furniture and Musical Instrumenls No depreciation 10 % reducing balance 25 /0 slraight-line basis 25 % slraight-line basis The gain or loss arising on the disposal of an asset Is determlned as the dlfferenGe between the sale proceeds and th8 carrying value of the ass81, and is recognised In the statement of financial activities. 1.7 Impairment of flxed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assels to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (If any). 1.8 Cash and cash equlvalents Cash and cash equivalenls include cash in hand, deposits held at call with banks. other short-term liquid Investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
LONDON FAMILY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles (Continued) Basic financial assets Basic financial assets. which include debtors and cash and bank balances, are Inltlally measured at transaction price including transaction costs and are subsequently carried at amortised Cost using the effective interest method unless the arrangement constitutes 8 financing transaction, where the transaction is measured at the presenl value of Ihe fulure receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortisod. Baslc flnanclal Ilabllltles Basic financlal liabllities, Including credltors and bank loans are Initlally reGognlsed at transaction price unless the arrangement constitules a financlng transactlon. where the debt instrument is measured at the present value of the future payments discounted at a market rate of Interest. Financial liabilities classified as payable within on8 yaar are not amortlS8d. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired In the ordinary cours8 of operatlons from suppllers. Amounts payable are classlfied as current liabilllies If payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of flnanclal Ilabllltles Financial liabilities are derecognised when the charity's contractual obligations explre or are discharged or cancelled. 1.9 Employee bonefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity Is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.10 Retiroment benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Crltlcal accountlng estlmates and Judgements In the application of the charity's accounting policies, the trustees are requlred to make judgem&nts, estimates and assumptions about Ihe carrying amount of assets and liabilities Ihat are not readily apparent from other sources. The eslimates and associated assumptions ar8 based on historical experience and other factors that are considered to be relevant, Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basls. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 10-
LONDON FAMILY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donations and legacles Unrestrlcted Restrlcted funds funds 2024 2024 Total Unrestricted Restrlcted funds funds 2023 2023 Total 2024 2023 Donations and gifts Other 163,113 26,668 6,120 169.233 26,668 103,950 26,394 103,950 26,394 189,781 6,120 195,901 130,344 130,344 Income from Investments Unrestrlcted Unrestrlcted funds funds 2024 2023 Interest recelvable 1,259 900 Expendllure on ralslng funds Unrestricted Unrestrl¢ted funds funds 2024 2023 Fundraising and publicity Seeking donalions, grants and legacies Staging fundraislng events 20,441 2,607 10,500 9,642 23,048 20,142 11
LONDON FAMILY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendlture on charltable actlvltles Support Governance costs costs 2024 2024 Total Support Governance costs costs 2023 2023 Total 2024 2023 Direct Costs Staff costs Depreciation and impairment General admin expenses Premises expenses Seminar & Confor8nces Travel expenses Finance costs Book-keeping Accountancy Professional fe8S 32,230 32.230 40.547 40.547 7,726 28,201 89,232 785 10.728 397 7.726 30.915 89,232 785 10,728 397 1,990 2,140 8,551 7,145 7,851 9,153 4,232 5,661 342 7.145 7,851 9,153 4,232 5,661 342 1,990 2,200 4,183 2,714 1.990 2,140 8,551 1,990 2,200 4,183 169,299 15,395 184,694 74,931 8,373 83.304 Analysis by fund Unrestricted funds R6strict6d funds 169,299 12.681 2,714 181.980 2,714 74,931 8,373 83,304 169.299 15.395 184,694 74,931 8.373 83,304 Net movement In funds 2024 2023 The net movement in funds is stated after chargingl(crediting): Fees payable to the charity's Independent examiner., for the independent examination of the charity's financial statements for other financial services Depraciation of owned tangibl8 fixed assets 3,300 300 7,726 2,200 380 7,145 Trustees During the year, the Trustee5 recelved remuneratlon of £24,880 {2023: £21,570). Non8 of the trustees (or any persons connected with them) recelved any benefits from tha charity during the year. Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number 12-
LONDON FAMILY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Employees (Continued) Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 31,671 38,106 1,655 786 559 32.230 40,547 There were no employees whose annual remuneration was more than £60,000. 10 Taxatlon The charlty Is exempt from taxation on its activities because all Sts Income Is applled for charitable purposes. 11 Tangible flxed assets Lgasehold Leasehold Flxtures and Furnlture and land and Improvements rittings Muslcal bulldlngs Instruments Total Cost At 1 January 2024 Additions Revaluallon 450,000 233,045 37,795 1,195 88.081 6.470 808,921 7,665 500,000 500,000 At 31 December 2024 950,000 233,045 38,990 94,551 1,316,586 Depreclatlon and Impalrment At 1 January 2024 Depreclatlon charged in the yaar 188.794 4.425 37,420 400 83,637 2,901 309,851 7.726 At 31 December 2024 193,219 37,820 86,538 317,577 Carrylng amount At 31 December 2024 950,000 39,826 1,170 8,013 999.009 At 31 December 2023 450,000 44,251 375 4.444 499,070 Th8 valuation of the leasehold property was carried out as at 31 D8cember 2024 by Alex Crown Lettings & Eslate Agents on an open market value basls. with ref8renc& to market evidence of similar propert18s. The figures presented in the financial statements are consistent with the valuation report issued by this independent firm of valuers. 13-
LONDON FAMILY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Credltors: amounts falllng due wlthln one year 2024 2023 Olher taxation and social security Trade creditors Other creditors Accruals and deferred income 668 7,551 1,680 3,600 206 79 3,800 13,499 4,085 13 Retirement ben8flt schemes 2024 2023 Defined contrlbutlon schemes Charge lo profit or loss in respect of defined contribution schemes 559 786 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 14 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to Specific conditions by donors as to how they may be used. Al 1 January 2024 Incomlng resources Resources expended At31 December 2024 6,120 (2.714) 3,406 15 Unrèstrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to speclfic conditions by donors and grantors as to how they may be used. These include designated funds which have been set aslde out of unrestricted funds by the trustees for specific purposes. At 1 January 2024 Incomlng resources Rasources expended At31 December 2024 General funds Revaluation reserve 592,773 191,040 (205,028) 578,785 500.000 14-
LONDON FAMILY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15 Unrestricted funds (Contlnued) Pr8vious year: Al 1 January 2023 Incoming resources Resources exponded At31 December 2023 General funds 564,975 131,244 (103,446) 592,773 16 Analysls of net assets between funds Unrestrlcted funds 2024 Restrlcted funds 2024 Total 2024 At 31 December 2024: Tangible assets Current ass&tsl(liabililies) 999,009 79,776 999,009 83,182 3,406 1.078,785 3.406 1,082.191 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 December 2023: Tanglble assets Current assetsl(liabilities) 499,070 93.703 499.070 93.703 592,773 592,773 17 Related party transactlons VFC Slngapore Is the head church of the charity. During the year. the charity received a donatlon of £56.575 from VFC Singapore. The amount will be utilised towards charitable expenditure as and when required. Thls year, £13,517 was relmbursed to Pastor Roy Varghese for Easter campus expenses that he initially pald on behalf of the charity. 15-