2021-11-30-accounts - London Church International

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

��

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 2021

��

LONDON CHURCH INTERNATIONAL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Emma Foster Chet Henderson Martin Reeve (Appointed 1 June 2021) Paul Harper (Appointed 1 November 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 - 4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7 - 8
Notes to the financial statements	9 - 21

��

LONDON CHURCH INTERNATIONAL

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 30 NOVEMBER 2021

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

This year we continued holding online or in person meetings, in line with the government’s Covid guidelines on social distancing, masks etc. From July, group singing was allowed and meeting numbers began to grow , although not to pre-pandemic numbers.

There was a significant turnover of people leaving to either join other churches, attend local churches or relocate while at the same time a significant number joined, for similar reasons. Overall numbers and attendance are down from the previous year, however, a similar pattern has been experienced by other churches. This was consistent across all sites.

The partnership with Voices of Hope, which was established during the first lockdown, has continued to grow and now includes multiple projects focussed on food insecurity, mental health and violence against women and girls. BRITE box (ingredient & recipe boxes for children), The Good Food Coop (fruit & veg boxes), 3D Cooking (cooking classes), ABC (breathing exercise to help covid recovery), Community Garden and choirs have all continued or restarted. They are all growing and financial and governance processes have been established to ensure their longevity. Memorandums of Understanding (MoU) have been put in place between KingsGate Church and Voices of Hope, and all the partnering organisations.

In September we launched the Kingston Womens Hub in partnership with VoH, Kingston Council, Refuge and True Honor, which provides wraparound services such as childcare, parenting courses and one-to-one mentoring, for women coming out of domestic violence in a safe female only environment. The number of referring agencies is growing and we have seen a steady increase in the number of people attending and the impact on those people.

��

LONDON CHURCH INTERNATIONAL

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

FOR THE YEAR ENDED 30 NOVEMBER 2021

Nick and Amber Chandler, pastors of KingsGate Ham, felt that their time leading Ham had come to end. Since no one suitable was available to take over leadership, the difficult decision was taken to close the site. Although we feel that KingsGate Ham has completed its God given task in the Ham community, we recognise that closing this church community has been difficult for many of its members. Members were encouraged to either join the continuing work at St Richards Church in Ham or return to KingsGate Kingston, which many have done. As the Chandlers' reason for employment had ceased to exist, they were made redundant in August 2021.

Carl and Bronwen Lunderstedt, pastors of KingsGate Wimbledon Village, also expressed a desire to be an independent church. This outcome was planned for when the site was started and came as no surprise. KingsGate Wimbledon Village was released as an independent church in November 2021 and is now known as The Mission.

KingsGate Cobham has recently secured the use of the Cobham Centre for their Sunday gatherings and the community choir and is continuing to recover post covid slowdown.

We continued to utilise the Government's Furlough scheme to pay employees who were unable to perform their duties, as a result of Covid restrictions. As a precautionary step we implemented a six month mortgage payment holiday, with our mortgage provider, to help us further reduce costs. In addition, Robyn Harper took voluntary redundancy and Charlston Aslet resigned. Both positions have since intentionally not been filled.

Finances varied dramatically over the year, with very good and very bad months. To address these fluctuations, we aim to hire out the building regularly, bringing in stable income. The trustees are also investigating a number of options to reconfigure parts of the building to make them more marketable.

Overall this year has been one of major positives, particularly our involvement in our community, coupled with big pastoral and financial challenges, however, the elders and trustees look forward to God’s continued provision in 2022.

Financial review

During the financial year the charity made deficit of -£61,197 (2020 - surplus £1,937) 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 £360,382 (2020 £419,332). However, our cash flow has remained stable with cash and cash equivalent balances having decreased by £34,819 to £99,510.

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 2022 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.

��

LONDON CHURCH INTERNATIONAL

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

FOR THE YEAR ENDED 30 NOVEMBER 2021

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 Chet Henderson Keath Gaitskell (Resigned 31 October 2021) Taryn Walker (Resigned 21 May 2021) Martin Reeve (Appointed 1 June 2021) Paul Harper (Appointed 1 November 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. These meetings are attended by the elders of the church as well as the Trustees. 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.

Funds held as custodian Trustees on behalf of others

Included within other creditors is an amount of £34,718 which the charity is holding on behalf of Kingston Women’s Hub. This is a joint project run with KingsGate Church, Kingston Council, Voices of Hope and several other charities and is for the purpose of providing holistic support to enable women to thrive after experiencing domestic violence, the criminal justice system, abuse, or multiple disadvantages.

��

LONDON CHURCH INTERNATIONAL

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

FOR THE YEAR ENDED 30 NOVEMBER 2021

Statement of Trustees' responsibilities

The Trustees, who are also the directors of London Church International for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent; and
prepare the financial statements 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 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.

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

..............................

Paul Harper

Trustee �� Dated: .........................

��

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 2021, which are set out on pages 06 to 21.

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:

1 accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
2 the financial statements do not accord with those records; or
3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4 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 charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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: .........................

��

LONDON CHURCH INTERNATIONAL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 NOVEMBER 2021

Unrestricted Designated Restricted funds funds funds 2021 2021 2021 Notes £ £ £ Income from: Donations and legacies 3 461,424 - 10,049 Provision of religious services 4 6,205 - - Investments 5 7 - - Other income 6 (1,299) - - Total income 466,337 - 10,049 Expenditure on: Provision of religious services 7 460,211 49,151 28,221 Net incoming/(outgoing) resources before transfers 6,126 (49,151) (18,172) Gross transfers between funds (56,643) 56,643 - Net (expenditure)/income for the year/ Net movement in funds (50,517) 7,492 (18,172) Fund balances at 1 December 2020 97,617 1,032,157 26,847 Fund balances at 30 November 2021 47,100 1,039,649 8,675	Total 2021 £ 471,473 6,205 7 (1,299) 476,386 537,583 (61,197) - (61,197) 1,156,621 1,095,424	Total 2020 £ 549,156 4,160 107 9,646
		563,069
		561,132
		1,937 -
		1,937 1,154,684
		1,156,621

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 2021

					2021	2020
		Unrestricted	Designated Restricted		Total Funds	Total Funds
		Fund	Fund	Fund
	Notes	£	£	£	£	£
Fixed assets
Tangible assets	12	-	1,754,630	-	1,754,630	1,779,172
Current assets
Debtors	13	8,666	-	-	8,666	9,308
Cash at bank and in hand		90,835	-	8,675	99,510	134,329
		99,501	-	8,675	108,176	143,637
Creditors: amounts falling due
within one year	15	(52,401)	(90,868)	-	(143,269)	(62,674)
Net current (liabilities)/assets		47,100	(90,868)	8,675	(35,093)	80,963
Total assets less current liabilities		47,100	1,663,762	8,675	1,719,537	1,860,135
Creditors: amounts falling due after
more than one year	16	-	(624,113)		(624,113)	(703,514)
Net assets		47,100	1,039,649	8,675	1,095,424	1,156,621
Funds:
Unrestricted Funds:
General fund					47,100	97,617
Designated fund	18				1,039,649	1,032,157
					1,086,749	1,129,774
Restricted funds	17				8,675	26,847
Total Funds					1,095,424	1,156,621

��

LONDON CHURCH INTERNATIONAL

BALANCE SHEET (CONTINUED)

AS AT 30 NOVEMBER 2021

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 2021. 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 12 May 2022

.............................. Paul Harper Trustee

Company Registration No. 04448178

��

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

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 charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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 2021

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.

10 -

��

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

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.

11 -

��

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

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 18,546 10,049 Gift aid 62,034 - Tithes and offerings 360,382 - Grant Income - Job Retention Scheme / COVID Emergency Support 20,462 - 461,424 10,049	Total funds 2021 £ 28,595 62,034 360,382 20,462 471,473	Total funds 2020 £ 45,336 70,691 419,332 13,797
		549,156

4 Provision of religious services

	2021	2020
	£	£
Provision of religious services (Venue income and room hire)	6,205	4,160

5 Investments

	Unrestricted	Restricted	Total	Total
	funds	funds
			2021	2020
	£	£	£	£
Interest receivable	7	-	7	107

12 -

��

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

6 Other income

	Unrestricted	Total
	funds	funds
	2021	2020
	£	£
Other income (Events)	(1,299)	9,646

7 Provision of religious services

Unrestricted Designated Restricted funds funds funds £ £ £ Direct Costs 423,443 - 28,221 Support Costs 36,768 49,151 - 460,211 49,151 28,221	Total funds 2021 £ 451,664 85,919 537,583	Total funds 2020 £ 480,318 80,814
		561,132

Designated funds equals depreciation on land and buildings (£23,771) plus loan interest (£25,380)

8 Support costs

	Support	Governance	2021	2020
	costs	costs
	£	£	£	£
Provision of Religious services	69,051	16,868	85,919	80,814

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 (2020- £1,380)

13 -

��

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

9 Net Income/(Expenditure)

Net income/(expenditure) is stated after charging/(crediting): 2021 2020 £ £ Independent examination fees 1,380 1,380 Bookkeeping, payroll and other services provided 15,488 15,305 Depreciation - owned assets 24,542 24,637

10 Employees

Number of employees

Number of employees
	2021	2020
	Number	Number
Average number of employees during the year	11	12
Employment costs	2021	2020
	£	£
Wages and salaries	299,529	289,348
Social security costs	20,278	25,678
Other pension costs	13,225	13,978
	333,032	329,004

The wages and salaries for the period above includes £25,501 redundancy pay in relation to two of the employees.

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

14 -

��

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

11 Trustees' Remuneration And Benefits

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

K. W. Gaitskell £48,945 Paul Harper £4,449

*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 £44,495. K. W. Gaitskell resigned as a director on the 31 October 2021 and the above salary represents 11 months to 31 October 2021.

*P. E. Harper 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 £4,045.P. E. Harper was appointed as a director as of 01 November 2021 and the above salary represents 1 month from the date of appointment as director.

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 (2021 - Nil).

12 Tangible fixed assets

Tangible fixed assets
Cost At 1 December 2020 At 30 November 2021 Depreciation and impairment At 1 December 2020 Depreciation charged in the year At 30 November 2021 Carrying amount At 30 November 2021 At 30 November 2020	Leasehold land and buildings Leasehold improvements Fixtures and fittings £ £ £ 1,008,750 1,020,214 5,141 1,008,750 1,020,214 5,141 9,000 241,563 4,370 1,000 22,771 771 10,000 264,334 5,141 998,750 755,880 - 999,750 778,651 771	Total £ 2,034,105
		2,034,105
		254,933 24,542
		279,475
		1,754,630
		1,779,172

15 -

��

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

13 Debtors Amounts falling due within one year: Trade debtors Other debtors 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	2021 £ - 8,666 8,666 2021 £ 714,981 90,868 624,113 351,509	2020 £ 2,925 6,383
		9,308
		2020 £ 746,244
		42,730 703,514
		361,672

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

Creditors: amounts falling due within one year
Notes Bank loans 14 Trade creditors Other creditors Accruals and deferred income	2021 £ 90,868 5,583 45,438 1,380 143,269	2020 £ 42,730 5,664 12,900 1,380
		62,674

16 -

��

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

Creditors: amounts falling due after more than one
		2021	2020
	Notes	£	£
Bank loans	14	624,113	703,514

17 -

��

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

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
	2019	resources	expended	2020	resources	expended	2021
	£	£	£	£	£	£	£
Apostolic	-	18	-	18	-	-	18
Alms	-	3,349	1,817	1,532	2,417	3,650	299
Outreach	7,979	-	635	7,344	31	1,157	6,218
Adopted courses	-	101	-	101	-	-	101
Christmas box appeal	3,566	3,996	2,576	4,986	1,510	4,650	1,846
Building fund	15,305	-	11,611	3,694	-	6,666	2,972
Ham gift fund	4,450	-	-	4,450	-	4,450	-
Sisterhood sanctury fund	180	-	76	104	-	6	98
Dwell	523	-	-	523	-	-	523
Sozo	40	-	-	40	30	-	70
Jean & vanessa Zimbabwe trip	1,679	345	-	1,334	-	-	1,334
Stewardship Giving	-	5,000	-	5,000	-	5,000	-
MTE Food Hub	-	6,377	6,377	-	1,517	-	1,517
Brite Boxes	-	5,488	5,186	302	1,480	-	1,782
Interest	-	87	-	87	2	-	89
Jeevan Mahesam	-	360	360	-	-	-	-
India Support Fund	-	-	-	-	2,637	2,637	-
Izettle	-	-	-	420	425	5	420
	30,364	25,119	28,638	26,847	10,051	28,221	8,675

18 -

��

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

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 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 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 Sozo 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.

19 -

��

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

17 Restricted funds

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 in methods and techniques for healthy cooking.

The India Support fund represents the fund collection for members of the church who wanted to give financially into the situation in India. The funds were ring fenced and paid out in full to Anthem Church, who are based in the U.S. and were spearheading the support relief fund.

The Izettle represents ring fenced funds used to cover the cost of supplies for the toddler group run by Karen Reekie. Karen charges parents a small amount (£2£3) to participate and the payment is taken via iZettle.

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 2019 £ 1,033,516 1,033,516	Resources expended £ (44,267) (44,267)	Transfers £ 42,908 42,908	Balance at 1 December 2020 £ 1,032,157 1,032,157	Resources expended £ (49,151) (49,151)	Transfers Balance at 30 November 2021 £ £ 56,643 1,039,649 56,643 1,039,649

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

20 -

��

LONDON CHURCH INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2021

19 Related party transactions

There were no disclosable related party transactions during the year (2020 - none).

21 -