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2020-11-30-accounts

Charity Registration No. 1095489

Company Registration No. 04448178 (England and Wales)

LONDON CHURCH INTERNATIONAL

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2020

LONDON CHURCH INTERNATIONAL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Emma Foster (Appointed 1 February
2020)
Chet Henderson
Keath Gaitskell
Martin David Reeve (Appointed 1 June 2021)
Charity number 1095489
Company number 04448178
Registered office Empire Building
161a Clarence Street
Kingston Upon Thames
Surrey
KT1 1QT
Independent examiner David Howard
1 Park Road
Hampton Wick
Kingston Upon Thames
KT1 4AS

LONDON CHURCH INTERNATIONAL

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6 - 7
Statement of cash flows 8
Notes to the financial statements 9 - 20

LONDON CHURCH INTERNATIONAL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 30 NOVEMBER 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 November 2020. The trustees have adopted the provisions of 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) (effective 1 January 2019).

Objectives and activities

The Charity's objects are:-

a) to advance the Christian faith in accordance with the Statement of beliefs appearing in the Schedule hereto in Greater London and in such other parts of the United Kingdom or the world as the directors of the Charity (herein called "the trustees") may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the charity;

b) to relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said location and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Achievements and performance

The first four months of the report period were solid, both financially and in terms of the activities of KingsGate Church. Then Covid-19 hit. All sites essentially had one week to respond to the government’s directive for all gatherings of people to cease and church services moved online. This was done successfully across all sites and while there has been some loss of members and momentum, there have also been new members joining and new opportunities to engage.

The Kingston congregation, in particular, has had a dramatic increase in community engagement during the pandemic, through their co-operation with the council and other charities. A ‘meals on wheels’ services was set up and run, relief food supplies were provided to people in all the congregations and surrounding areas and numerous other community impacting projects were established and are now running in partnership with Voices of Hope, a charity set up by a church member to address social needs in the community. KingsGate is now actively working in the areas of mental wellbeing, food provision and education, recovery from Covid19 and supporting women recovering from traumatic circumstances, across a number of sites. In all cases KingsGate is actively partnering with local councils and other charities to meet these needs.

During the reporting period KingsGate Church has availed the government backed initiatives to help organisations through the Covid-19 crisis. Staff who could not do their jobs in lockdown, were placed on furlough and a six-month mortgage repayment holiday was arranged with our lender. These actions have helped ensure that KingsGate Church has not been adversely impacted financially during the pandemic.

LONDON CHURCH INTERNATIONAL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2020

Financial review

During the financial year the charity had net incoming resources of £1,937 (2019 - £19,833) as shown in the Statement of Financial Activities on page 5 of the accounts.

One of the main reasons for this was the drop in tithes and offerings to £419,332, as well as a loss in rental income (2019 �£476,776). However, our cash flow has remained stable with cash and cash equivalent balances having increased by £1,182.to £134,329.

It is the policy of the charity that unrestricted funds should be kept at a level no less than £60,000. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to cover any financial commitments for a period of time. This reserve policy is to be reviewed during the 2021 financial year.

The elders and trustees are satisfied with the financial situation and excited about further growth in 2020 and beyond.

Structure, governance and management

The charity is a company limited by guarantee and does not have share capital. The charitable company was incorporated on 27 May 2002 and was registered with the Charity Commission on 20 January 2003, but remained dormant until the operations, funds, assets and liabilities of the former non-profit making organisation with the same name were transferred across on 1 April 2004.

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 statements were:

Emma Foster (Appointed 1 February 2020) Chet Henderson Brian Kettles (Resigned 10 June 2020) Keath Gaitskell Taryn Walker (Resigned 21 May 2021) Martin David Reeve (Appointed 1 June 2021)

None of the trustees has any beneficial interest in the company. Messrs, Henderson and Kettles are the Members of the Company, who guarantee to contribute £10 in the event of winding up.

The trustees maintain a register of interests to identify any related party transactions.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

A meeting is held quarterly where all business issues are discussed including any changes to the risk profile of the charity. At these meetings the following are among the issues that are monitored: -Finances. This includes an assessment of cash flows both historical and predicted. -Adequacy of insurance. A review of insurance is done on an annual basis. -Employment/Health and Safety. -Compliance with legal requirements.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

LONDON CHURCH INTERNATIONAL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2020

The Trustees' report was approved by the Board of Trustees.

Keath Gaitskell

Dated: 26 \8\202|

LONDON CHURCH INTERNATIONAL

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF LONDON CHURCH INTERNATIONAL

I report to the Trustees on my examination of the financial statements of London Church International (the Charity) for the year ended 30 November 2020.

Responsibilities and basis of report

As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 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 Association of Chartered Certified Accountants, 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 that in any material respect:

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 financial statements to be reached.

Philip Lane FCCA

David Howard Chartered Accountants 1 Park Road Hampton Wick Kingston Upon Thames KT1 4AS

Dated: 26 August 2021.

LONDON CHURCH INTERNATIONAL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 NOVEMBER 2020

Unrestricted Designated
Restricted
funds
funds
funds
2020
2020
2020
Notes
£
£
£
Income from:
Donations and legacies
3
524,122
-
25,034
Provision of religious services
4
4,160
-
-
Investments
5
20
-
87
Other income
6
9,646
-
-
Total income
537,948
-
25,121
Expenditure on:
Provision of religious services
7
488,227
44,267
28,638
Net incoming/(outgoing) resources
before transfers
49,721
(44,267)
(3,517)
Gross transfers between funds
(42,908)
42,908
-
Net income/(expenditure) for the year/
Net movement in funds
6,813
(1,359)
(3,517)
Fund balances at 1 December 2019
90,804
1,033,516
30,364
Fund balances at 30 November
2020
97,617
1,032,157
26,847		 Total
2020
£
549,156
4,160
107
9,646
563,069
561,132
1,937
-
1,937
1,154,684
1,156,621		 Total
2019
£
609,320
18,221
123
35,352
663,016
643,183
19,833
-
19,833
1,134,851
1,154,684

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

LONDON CHURCH INTERNATIONAL

BALANCE SHEET

AS AT 30 NOVEMBER 2020

2020 2019
**Unrestricted ** **Designated Restricted ** **Total Funds ** Total Funds
Fund Fund Fund
Notes £ £ £ £ £
Fixed assets
Tangible assets 12 771 1,778,401 - 1,779,172 1,802,451
Current assets
Debtors 13 9,308 - - 9,308 11,497
Cash at bank and in hand 107,482 - 26,847 134,329 133,147
116,790 - 26,847 143,637 144,644
Creditors: amounts falling due
within one year 15 (19,944) (42,730) - (62,674) (82,966)
Net current assets 96,846 (42,730) 26,847 80,963 61,678
Total assets less current liabilities 97,617 1,735,671 26,847 1,860,135 1,864,129
Creditors: amounts falling due after
more than one year 16 - (703,514) (703,514) (709,445)
Net assets 97,617 1,032,157 26,847 1,156,621 1,154,684
Funds:
Unrestricted Funds:
General fund 97,617 90,804
Designated fund 18 1,032,157 1,033,516
1,129,774 1,124,320
Restricted funds 17 26,847 30,364
Total Funds 1,156,621 1,154,684

LONDON CHURCH INTERNATIONAL

BALANCE SHEET (CONTINUED)

AS AT 30 NOVEMBER 2020

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2020. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements.

The Trustees acknowledges his responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the Trustees on

Keath Gaitskell Trustee

Company Registration No. 04448178

LONDON CHURCH INTERNATIONAL

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 NOVEMBER 2020

Notes
Cash flows from operating activities
Cash generated from operations
20
Interest paid
Net cash provided by (used in)
operating activities
Investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2020
£
36,008
(1,358)
107
(22,412)		 £
60,853
24,845
(1,251)
(22,412)
62,035
133,147
134,329		 2019
£
36,008
(695)
123
(49,250)		 £
102,638
66,630
(572)
(49,250)
119,446
115,884
133,147

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2020

1 Accounting policies

Charity information

London Church International is a private company limited by guarantee incorporated in England and Wales. The registered office is Empire Building, 161a Clarence Street, Kingston Upon Thames, Surrey, KT1 1QT.

1.1 Accounting convention

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019) Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements 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 Going concern

At the time of approving 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 financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2020

1 Accounting policies

1.4 Incoming resources

Legacy income is recognised when the charity becomes unconditionally entitled to the income and the total amount to be received is certain.

Grants, where entitlement is conditional on the delivery of a specific performance by the charity, are recognised when the performance has been delivered, otherwise grants are recognised at the point the charity becomes unconditionally entitled to the grant.

Tithes are donations and offerings granted to the charity, these donations are recognised as and when they are received.

Other Donations and forms of voluntary income are recognised as incoming resources when receivable, except in circumstances where they are incapable of financial measurement.

Gift aid is claimed on a number of occasions throughout the year, this is recognised in the accounts based on when the donation the gift aid is being claimed on is received.

Income from charitable activities is income received for the Alms and Apostolic funds, given specifically for helping the poor and needy and is recognised as and when it is received,

Other income is income received for events and conferences and is recognised as incoming resources when receivable.

Investment income is interest on funds held on deposit and is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.5 Resources expended

Expenditure is recognised on an accruals basis when incurred. It is reported in the Statement of Financial Activities as follows:

Direct Charitable Expenditure - these are costs incurred by the charity in the delivery of its activities and services for its beneficiaries.

Support costs include other running costs and governance costs. These are incurred by the charity and are necessary to aid and support the running of the charity and are included within expenditure on charitable activities.

All costs are allocated to charitable activities of the SOFA on a basis designed to reflect the use of the resource.

Support Costs relating to a particular fund are allocated directly, others are apportioned on an appropriate basis when applicable. The charity has identified one direct charitable activity.

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2020

1 Accounting policies

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings Over the term of the lease Leasehold improvements 2% straight line Air conditioning unit Over 10 years Fixtures and fittings 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets 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).

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

1.8 Cash and cash equivalents

Cash and cash equivalents 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.

1.9 Financial instruments

The trust only has financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments comprise bank loans which are subsequently measured at the carrying value plus accrued interest less repayments.

1.10 Employee benefits

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.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2020

2 Critical accounting estimates and judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

There were no key judgements. The main accounting estimates are depreciation, gift aid debtors and accruals.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
£
£
Donations
20,302
25,034
Gift aid
70,691
-
Tithes and offerings
419,332
-
Grant Income - Job Retention Scheme / COVID
Emergency Support
13,797
-
524,122
25,034		 Total
funds
2020
£
45,336
70,691
419,332
13,797
549,156		 Total
funds
2019
£
50,511
82,033
476,776
-
609,320

4 Provision of religious services

Provision of religious services (Venue income and room hire)

2020 2019
£ £
4,160 18,221

5 Investments

**Unrestricted ** Restricted Total Total
funds funds
2020 2019
£ £ £ £
Interest receivable 20 87 107 123

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2020

6 Other income

Unrestricted Total
funds funds
2020 2019
£ £
Other income (Events) 9,646 35,352

7 Provision of religious services

Unrestricted Designated
Restricted
funds
funds
funds
£
£
£
Direct Costs
451,680
-
28,638
Support Costs
36,547
44,267
-
488,227
44,267
28,638		 Total
funds
2020
£
480,318
80,814
561,132		 Total
funds
2019
£
552,305
90,878
643,183

Designated funds equals depreciation on land and buildings (£23,771) plus loan interest (£20,496)

8 Support costs

Support Governance 2020 2019
costs costs
£ £ £ £
Provision of Religious services 64,009 16,805 80,814 90,878

Support costs include mortgage interest payments, depreciation of land and buildings and property improvements, and general office running costs.

Governance costs (Audit & Accountancy fees) includes payments to the Independent Reviewer of £1,380 (2019- £1,260)

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2020

9 Net Income/(Expenditure)

Net income/(expenditure) is stated after charging/(crediting):

2020 2019 £ £

2020 2019
£ £
Independent examination fees 1,380 1,260
Bookkeeping, payroll and other services provided 15,305 12,635
Depreciation - owned assets 24,637 24,637
10 Employees

Number of employees

Number of employees
2020 2019
Number Number
Average number of employees during the year 12 10
Employment costs 2020 2019
£ £
Wages and salaries 289,348 278,853
Social security costs 25,678 22,214
Other pension costs 13,978 13,672
329,004 314,739

The key management personnel is the trustee referred to in note 11 where their remuneration is disclosed.

11 Trustees' Remuneration And Benefits

During the year the following director was paid a salary for pastoral services, the total benefits paid were:

K. W. Gaitskell £53,933*

*K. W. Gaitskell opts into a payroll giving scheme, whereby he donates 10% of his salary to the Charity. Therefore, the net benefit paid after payroll giving amounts to £48,540.

In order to fully comply with Biblical principles, it is necessary for the Eldership team to be represented on the board of directors. This has been achieved without infringing the requirement for only two full-time members of staff being directors. However, as the team consists of both husband and wife, the wives of full time elders are paid a salary for the work that they do.

All people who are paid by the charity perform a valuable service to the charity and have a job specification which is available if required. No person receives payment because of his or her position as a trustee or as a dependent or relative of a trustee. This has been approved by the Charity Commission.

Trustees' expenses

During the year no trustees were reimbursed expenses (2019 - Nil).

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2020

12
Tangible fixed assets
Cost
At 1 December 2019
Additions
At 30 November 2020
Depreciation and impairment
At 1 December 2019
Depreciation charged in the year
At 30 November 2020
Carrying amount
At 30 November 2020
At 30 November 2019
13
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors		 Leasehold
land and
buildings
Leasehold
improvements
Fixtures and
fittings
£
£
£
1,008,750
1,020,214
3,783
-
-
1,358
1,008,750
1,020,214
5,141
8,000
218,792
3,504
1,000
22,771
866
9,000
241,563
4,370
999,750
778,651
771
1,000,750
801,422
279
2020
£
2,925
6,383
9,308		 Total
£
2,032,747
1,358
2,034,105
230,296
24,637
254,933
1,779,172
1,802,451
2019
£
3,486
8,011
11,497

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2020

14 Loans and overdrafts

Bank loans
Payable within one year
Payable after one year
Amounts included above which fall due after five years:
Payable by instalments		 2020
2019
£
£
746,244
768,656
42,730
59,211
703,514
709,445
361,672
462,641

The bank loan is charged at an interest rate of the base rate plus 3.050% and is secured on the property 153-161, Clarence Street, Kingston Upon Thames, Surrey.

15 Creditors: amounts falling due within one year

Notes
Bank loans
14
Trade creditors
Other creditors
Accruals and deferred income
Creditors: amounts falling due after more than one
Notes
Bank loans
14		 2020
£
42,730
5,664
12,900
1,380
62,674
2020
£
703,514		 2019
£
59,211
8,635
13,860
1,260
82,966
2019
£
709,445

16 Creditors: amounts falling due after more than one

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2020

17 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Balance at Balance at
1 December Incoming Resources 1 December Incoming Resources 30 November
2018 resources expended Transfers 2019 resources expended 2020
£ £ £ £ £ £ £ £
Apostolic - 198 198 - - 18 - 18
Alms - 3,378 3,378 - - 3,349 1,817 1,532
HAM 5th Birthday fund 195 - 195 - - - - -
Outreach 1,529 6,689 239 - 7,979 - 635 7,344
Adopted courses 135 48 183 - - 101 - 101
Christmas box appeal 1,136 3,566 1,136 - 3,566 3,996 2,576 4,986
Building fund 28,445 12,738 28,878 3,000 15,305 - 11,611 3,694
XCC transport fund 351 - 351 - - - - -
Ham gift fund - 4,450 - - 4,450 - - 4,450
Sisterhood sanctury fund - 180 - - 180 - 76 104
Dwell - 523 - - 523 - - 523
Sozo - 40 - - 40 - - 40
Jean & vanessa Zimbabwe trip - 1,499 3,178 - 1,679 345 - 1,334
Stewardship Giving - - - - - 5,000 - 5,000
MTE Food Hub - - - - - 6,377 6,377 -
Brite Boxes - - - - - 5,488 5,186 302
Interest - - - - - 87 - 87
Jeevan Mahesam - - - - - 360 360 -
31,791 33,309 37,736 3,000 30,364 25,121 28,638 26,847

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2020

17 Restricted funds

The Apostolic fund represents donations received to be spent on ministerial needs outside the church.

The Alms fund represent income given specifically for the use of helping the poor and needy. It does not however reflect the full amount that is actually spent by and in the church for these purposes.

The HAM 5th Birthday fund was setup to enable the Ham congregation to contribute toward Ham's 5th birthday celebration.

The Outreach fund represents money donated for outreach events.

The adopted courses fund represents income received in order to provide food hampers for those in need.

The Christmas boxes fun are donations received in order to provide food hampers for those in need.

The Building development fun was established to raise money to make improvements and adjustments to the building facility, so that it may be more extensively used as part of our vision to impact our local community.

The XCC transport fund enables participants of the Extreme Character Challenge (XCC) Mens Weekend Away to contribute toward the cost of transportation. The Ham gift fund represents donations to support the establishment and upkeep of the Ham congregation, particularly in relation to equipment and nonconsumable good.

The Sisterhood Sanctuary fund represents donations made toward the running cost of this weekly event called The Sisterhood Sanctuary.

The Dwell fund represents funds set aside for the costs of our annual church event on October called Dwell.

The Soxo fund represents donations toward the running of the prayer and deliverance ministry called Sozo Ministry.

The Zimbabwe trip fund was established to collect donations toward a team traveling to Zimbabwe to support an orphanage.

The MTE Food Hub fund was an initiative undertaken with the MTE food hub to provide food to the community during the COVID-19 pandemic.

The Stewardship Giving fund represents funds given to help develop the Ham community.

The Brite Boxes fund represents funds donated to help educate disadvantaged children in school s in methods and techniques for healthy cooking.

The Jeevan Mahesam fund represents funds donated to help support a family in Sri Lanka.

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2020

18 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Land and Building fund Balance at
1 December
2018
£
1,008,039
1,008,039		 Resources
expended
£
(59,779)
(59,779)		 Transfers
£
85,256
85,256		 Balance at
1 December
2019
£
1,033,516
1,033,516		 Resources
expended
£
(44,267)
(44,267)		 Transfers
Balance at
30 November
2020
£
£
42,908
1,032,157
42,908
1,032,157		 Transfers
Balance at
30 November
2020
£
£
42,908
1,032,157
42,908
1,032,157
1,032,157

The land and buildings fund represents the net book value of the property and its improvements less the loans in relation to the property.

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2020

19 Related party transactions

There were no disclosable related party transactions during the year (2019 - none).

20
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Interest paid
Movements in working capital:
Decrease in debtors
(Decrease) in creditors
Cash generated from operations		 2020
£
1,937
(107)
24,637
15,003
2,189
(3,811)
39,848		 2019
£
19,832
(123)
24,637
36,008
34,482
(12,199)
102,637