COMMUNITY LIFE TRUST known as BEACON CHURCH FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 Company number.. 4518128 Registered Charity number.. 1095763
COMMUNITY LIFE TRUST known as BEACON CHURCH FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 Contents Page Company Information Trustees, Report Independent Auditols Report Consolidated Statement of Financial Activities Consolidated Balance Sheet Consolidated Cash Flow Statement Company Balance Sheet Notes to the Financial Statements 10 12 13-23
COMMUNITY LIFE TRUST known as BEACON CHURCH COMPANY INFORMATION Company number 4518128 Registered charity number 1095763 Regi8ter8d office and Principal address Community Life Trust 95 Guildford Street Chertsey Surrey KT16 9AS Secretary Keith Holder Trustees Keith Holder Nathan Wardill Felix Mashedi Adriaan van den Broek David Wayland Key management p8r8onnel Trustees and Jennifer Wardill Constltutlon Community Life Trust is a company limited by guarantee without share capital, and is governed by it8 Memorandum and Articles of Association. Each member is liable to contribute up to a maximum of £10 to the company's debts in the event of winding up. The company is administered by it8 tru8tees who are also directors for the purposes of company law, Bankers CafBank Ltd PO Box 289 West Malling Kent ME19 4TA Stewardship Services 1 Lamb's Passage London EC1Y 8AB Solicltors Stewardship Services 1 Lamb's Passage London EC1Y 8AB Barlow Robbins The Oriel Sydenham Road Guildford Surrey GU13SR Independent Audltor Miriam Hickson Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton Surrey SM12SW Page 1
COMMUNITY LIFE TRUST known as BEACON CHURCH REPORT OF THE TRUSTEES The Trustees have pleasure in submitting their Annual Report and the financial statements for the year to 31st March 2024, which have been prepared in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities" (FRS 102), the Companies Act 2006 and Financial Reporting Standard 102. The annual report serves the purposes of both a Trustees, Report and a Directors, Report under company law. Objectives and activities The objects of the charity are as follows., the advancement of the Christian Faith in accordance with the Church's Statement of Beliefs., the relief of persons who are in conditions of need, hardship or distress. the advancement of education of the public. In planning the activities for the year, the Trustees have given consideration to the Charity Commission's guidance on public benefit. In order to advance the Christian Faith in the local community, regular meetings are held where Church members and other interested persons can worship, pray, receive teaching on, and participate in discussions of, aspects of the faith. Grant8 are also made to organisations, both in the UK and overseas, which seek to advance the Christian Faith. The relief of persons who are in conditions of need, hardship or distress is achieved by making grants and offering support to individuals who meet the criteria, in particular through operating a Foodbank in the local area. Grants are also made to organisations, operating in both tha UK and overseas, which have the same objective. The advancement of education of the public concentrates on the provision of education in relation to personal financial management, personal wellbeing and language tuition, The Trustees plan to continue with these same activities for the foreseeable future. Grants pollcy Grants are made to Christian organisations and workers who are involved in advancing the Christian faith. Grants are made to a number of Christian organisations, both in the UK and overseas, whose areas of work the Church particularly want8 to support. Grants are made to a number of Christian workers, mostly Church members working overseas, to support them in their ministry. Reference and administrative detalls The legal and administrative details required by law set out on page 1 form part of this report. Achievements and performance Beacon Church holds regular meetings for worship, prayer and teaching. Many Church members are also regular attenders at midweek connect group meetings. Midweek meetings are held regularly to meet particular needs. These include groups for children, young people and for parents and toddlers. Page 2
COMMUNITY LIFE TRUST known as BEACON CHURCH REPORT OF THE TRUSTEES CONTINUED As part of the Church's commitment to those who are in need, hardship or distress, as well as to provide education in personal financial management and wellbeing, the Church continues to support a Foodbank programme which has expanded during the year. As well as operating regularly from five distribution centres, the Foodbank provides food for lunches during the school holidays for children in receipt of free school meals. During the year a practical course to help people eat well whilst spending less on food was continued. The Church also supports a CAB Adviser to be present at Foodbank sessions to provide practical advice on accessing benefits and other services. The Church also operates a ministry called Just a Helping Hand which provides support to homeless individuals in the local area. Durig the year a support group for Ukrainian refugees has continued to operate, along with language tuition and access to advice. The Church's property in Chertsey, known as The Beacon, continues to be much used. The coffee shop located on the ground floor of the building is also used for Sunday services. Weekday activities of the church take place on tha first floor of the building part of which is also occasionally hired out. Two limited companies have been created each having 100 % of the shares owned by Community Life Trust. The companies are Community Life Properties Limited (CLPL) which purchased, developed and maintains the property and Beacon Hospitality Services Limited (BHSL) which operates the coffee shop. The coffee shop continues to run successfully with increased custom and impact on the community. During the year the Church completed the purchase of the former Kings Head public house which is situated adjacent to the existing Church building. As well as providing additional accommodation for the work of the Church and its support of the community, it provides the Church with control of the car park which was shared by the two properties. The majority of the purchase price was covered by generous donation. Flnanclal Revlew The Church is financially dependent on the voluntary support of its members and the wider community. Total voluntary income receipts for the year amounted to £692,054, to which were added £98,387 in grants, £25,979 income tax refund, £11,211 from interest and other income, and £216,644 from gifts in kind. Income from trading activities amounted to £150,504. Expenditure amounted to £833,796 resulting in a surplus of £360,983. During the year CLPL repaid £7,700 of the long term loan made to it by the Church and BHSL repaid £4,890. An additional long term loan of £30,000 was made to CLPL for the installation of solar panels, The total of outstanding long term loans in both CLPL and BHSL is £208,180. The church's reserves at the end of the year were £1,827,722 of which £416,944 were restricted funds and £1410,778 were unrestricted funds. Of these funds £464,320 is invested in fixed assets and £873,298 is invested in CLPL and BHSL. The remaining unrestricted reserves are £111,578. The consolidated reserves were £1,583,458 (2023 £1,222,475). The reserves policy for unrestricted funds is to retain sufficient reserves: To ensure that the Church has sufficient funds to meet its financial commitments. To demonstrate that the Church is sustainable into the future. To ensure that the Church is able to manage future unforeseen financial difficulties. To ensure that eXsSive funds are not held without any identifiable reason or purpose. Page 3
COMMUNITY LIFE TRUST known as BEACON CHURCH REPORT OF THE TRUSTEES CONTINUED Restricted funds may be held to be used for the restricted purpose for which they were given. The trustees have reviewed the level of reserves and consider that they are in line with the reserves policy and are adequate to provide for the ongoing work of the Church. In the light of this review, the trustees are of the view that the Church is a going concem. In addition to financial contributions, the Church is also reliant on the voluntary donation of time by members to enable the various activities of the Church to take place. For the successful running of the Foodbank a large number of volunteers come from other churches and the community. Structure and management The following individuals have senied as trustees during the year: Keith Holder Nathan Wardill Felix Mashedi Adriaan van den Bro8k David Wayland Trustees are appointed by the members of the company and are chosen from among the spiritual leadership of the Church. As such they are already aware of the objectives and activities of the Church. All trustees seek to keep abreast of relevant legislation and good practice. To this end they receive relevant advice from the Church's independent examiners and from Stewardship Services. The trustees who are also the members of the company make all policy decisions, Day to day decisions are made by Church staff but only within the boundaries defined in their individual Role Descriptions. The pay and remuneration of key management personnel is decided by the trustees (excluding any employed trustee) taking into account general national pay settlements and the financial resources available, Rlsk management The Church has operated a "Safe From Harm" child protection and vulnerable adults policy for a number of years,This policy was reviewed and updated during the year to keep it in line with latest legislation and good practice. A formal risk management process is in place and systems have been established to manage the risks identified. Post balance sheet developments Following the purchase of the former Kings Head public house a gift day was held at which Church members were able to donate gifts toward the renovation of the building. Subsequently working were organised to start this work on a number of Saturday mornings. Page 4
COMMUNITY LIFE TRUST known as BEACON CHURCH REPORT OF THE TRUSTEES CONTINUED Trustees, responsibilities The trustees (who are also the directors of Community Life Trust for the purposes of company law) are responsible for preparing the Trustees, Report (incorporating the directors, report) and the financial statements in accordance with the applicable law and United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102: The Financial Reporting Standard Applicable in th8 UK and Republic of Iland (United Kingdom Generally Accepted Accounting Practice) . Company law requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period, In preparing those financial statements, the trustees are required to: select suitable accounting policles and apply them consistently; observe the methods and principles in the Charities SORP; make judgements and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departure disclosed and explained in the financial statements, and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in existence. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Dlscclosure of Informatlon to audltor8 To the best of the knowledge and belief of the trustees,there is no relevant information that the charity's auditors are not aware of, and the trustees have taken all the steps necessary to ensure that the trustees are aware of any relevant information, and to establish that the charity's auditors are aware of the information, Small company This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006 ON BEHALF OF THE TRUSTEES Keith Holder Date Igl121?ox Page 5
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COMMUNITY LIFE TRUST (the COMPANY) known a8 BEACON CHURCH Oplnlon We have audited the financial statements of Community Life Trust (the 'p8rent company.) and its subsidiaries I'the group'l for the year ended 31 March 2024 which comprise the consolidated Statement of Fin8nclal Activities, the consolidated and parent Balance Sheets, the consolidated Statement of Cash Flows and notes to the financial statements, in¢luding significant aGcountlng policies. The fin8ncial reporting framework that has been applied in thelr preparatlon Is applicable law and United Kingdom Accounting Standards, including The Financial Reporting Slandard appllcable In the UK and Republ1¢ of Ireland (United Kingdom Generally AeKepted Accounting PraclS¢e}. Irln our opinion. the financlal statements.. give a true and fair view of the state of Ihe group's and of the parant company's 8ffalr8 a8 at 31 March 2024 and of the group's surplus for the year then ended.. have been properly pr8par8d in accord8nca with Unlted KSngdom Generally Accepted Accounting Practice; hav6 b88n prepared In accordance wlth the r8qulr8mént8 of the Comp8nie8 2008 Ba818 for oplnlon We conducted our audlt In a¢cordance wllh InlernatSonal Standards on Audltlng IUKI (ISAS IUKI) and appllcable law. Our ro8ponsibilitles under those 8t8ndards are lurther des¢rlb6d In the Audttof's re8pon8ibllltles for the audit of the flnancial $18lement8 secllon of our report. We are Independènt of the group In accordancé with the ethlcal requlr8m8nt8 that ar8 r818vant to our audll of the flnanclal statements In the UK, including the FRC'S Ethlcal Standard, and we have fulfilled our other ethical respon$lbllltle$ In accordance wlth these requlromenlB. WO belleve that the audlt evldence we havo oblalned 18 $uffl¢l•nt and approprlate to provlde a ba61$ for our oplnlon. Conclu8lon8 rol•llng to golng concern In audltlng the ffinanclal 8tat&ment8, we have concluded that the tru8tee8' Use of the golng concern ba818 of accounllng In th8 preparallon of the flnanclal 81atemenls18 approprlate. Based on the work we have p8rformed, we have nol Identlfled any materlal uncertalntle& relallng to event8 or condltlons that, Indlvldually or coll8Ctlv8ly, may ca8151gnlfic8nt doubt on the charlty's ablllty to conllnue as a 9olng concarn for a perlod of at lea8t 12 month8 from when the flnanclal statements are aulhorl88d for188ue. Our r88pon8lbllltl68 and the r88pon81bllllle8 of the trustees wlth rn8pecl to golng concern aro d88crlbed In the relevant 8&ctlong of th18 report. Conclu•lon• ralatlng to golng ¢on¢orn The other Informatlon comprlses th8 Informatlon Included In the annual report, other th8n the flnanclal Statements and our audltor'8 report thereon. Th8 trustees are responslble for the other Informatlon contained wlthln the 8nnu81 report. Our oplnlon on the flnanclal statements does not cover the other Informatlon and. except to the èxtent othe188 expllcltly stated In our report, we do not expr86S any form of assurance concluslon thereon. Our ra8pon8lblllty 18 to read the other Informatlon and. In dolng so. ¢on8lder whether the other Informatlon Is materlally Incon81stenl wlth the flnanclal statements or our knowledge obt8ln&d in the course of the audit, or otherwlse appears lo be materially misstated. If we identify such mal8rial Incon8lstencles or apparent materi81 misstalemenls, we are required to detèrmine whether this gives rlse to a materlal misstatement in the flnanclal $latemenl$ themselves. If, based on the work we have performed, we conclude that there 18 a matorial misstatèment of this other informatlon, we are requlred to report that fact. We have nothing to report In th18 regard. Oplnlons on othor mattgrty projcrlbed by the Compan108 Act 2008 In our opinion, based on the work undertaken in the course of our audlt: In our opinion. based on Ihe work undertaken in the course of the audlt.. the informatlon given in the trustees, report for the financial year for whl¢h the financial statements are prepared is consistent with the financial statements.. and the trustees, report has been prepared in accordance with applicable legal requirements. Page6
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COMMUNITY LIFE TRUST (the COMPANY) known as BEACON CHURCH (contd) Matters on which we are r8quirnd to rnport by ox¢option In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothlng to report in respect of the following matters in relalion to whlch the Companies Act 2006 requires us to report to you if. in our opinion.. adequate accounting records have not b•&n kept by the parent company, or returns adequate for our audlt hav8 not been received from bran¢h8s not visrted by us., or Ihe parent company financial 8tatements aro not In agreement wlth the a¢¢ountlng records and returns., or certaln dlsclo8ur88 of trustees, remuneratlon sp&clfl8d by law are not made., or we hav& not received all the informatlon and èxplanations we requlre for our audlt. the trustees were not enlltlod lo prepare the finan¢lal statements in accordance wlth the small companSe8 regime and lake advantage of the small Companles 6xempllon8 In preparlng tho trustee8' report and from tha requirement to preparo a strategic roport. Ro8pon8lbllltI of tru•t••8 As explained mor8 fully In the trustoes, re8pon8lbllltles Stalemenl. Ihe tru8t8e8 ar8 re8ponslble for tha preparatlon of tha finan¢lal Statements and for being 8atisfSed thal they glve a truè and falr vlew, and for such Intèmal control as the dlrectors d8t8rmlna 18 nece898ry lo enabla the preparatlon of flnanclal 8tat8ment8 that are free from materlal m188talement, whether due lo fraud or error. In preparlng thè flnanclal 8talemenls, tho tru8tOa8 are re8pon8lble for 888e881ng tha group'8 and the parent ¢ompany'8 ablllty lo continue a8 a golng ¢on¢&rn, dlsclosSng, as appllcable, matters related to golng concern and uslng Ihtr golng concern ba818 of accounllng unles8 the trustee8 ellher Intend to Ilquidate the group or the parent Gompany or to cease oper811ons, or have no realisllc alternallve bul to do 80. Audltorf• re•pon•lbllltlo• for the audlt of the flnanclal •tat•ment• Our oble¢llves are to oblaln re880nable a8suronce about whether the flnanclal statements as a whole are free from malerlal mi88tatem&nl, whether due lo fraud or error, and lo l$suo an audltor'8 report that In¢lud&s our oplnlon. Rea80nable a88uran¢e Is a hlgh levol of a88ur8nc8. bul 1$ not o guarantee that an audlt conducted In accordance wlth ISA8 {UK} wlll alway8 detect a malerlal mlsstatement wh8n It axl818. Mlsslatemenls can ar18e from fraud or error and are consldered material If, Indlvldually or In the 89gregate, they could reasonably be expected to Influen¢a th8 economlc dec181on8 of u8ers taken on the basls of Ihese Itnanclal statement3. The extent to whlch our procedures are capable of detectlng Irregularlll88, Includlng fraud Is detalled below.. Based on our understsndlng of the charlly, we Idenllfl6d that th& prlnclpal rf8k8 of non-compllance wllh law8 and regulatlon8 related to employment and flnanclal reportlng legl8lation and we consldered the extent to whlch non-compllance mlghl have & mater181 effect on the flnand818talements. We also oon8ldered those laws and regulatlons that havè 8 dlr•¢l Impact on the preparatlon of the finan¢lal ¥1atemontJ such as the Charflles Act 2011. We 8sse88ed the 8uscepllblllty of th? ¢harlty's flnanclal statements to materl81 mS$¥latemenl, Includlng oblalning an understanding of how fraud rnight occur, by maklng enqulrie8 of management, con$ldorlng the intemal control8 In place and dlscusslon amongst the gngagemenl leam. We delermlned that thtr principal risks were related to recognltion of Income, postlng Inapproprfale journals, management bla8 In accounllng e8llmate8 and management overrlde 01 control8. in response to th? risks identSfied we deslgned procedures which included, bLsI were not Ilmitsd lo.. substantive testing of income, challenging $ignificanl accounting estimates, agreeing flnan¢ial statement disclosures to underlying sUPPOrting documentation, evaluallng the internal controls, reviewing tru8tee8 mlnutes, and identifying and testing journal entries. Page7
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COMMUNITY LIFE TRUST (the COMPANY) known as BEACON CHURCH (contd There are inherent lim+tslion$ in the audit procedure$ doscribed above. The more removed that laws and regulationy ¥re from financial transactions, the less likely it is that we would become aware ol non- compliance. Material misstatements that arise due to fraud can b¢ harder to detect than those that arise from error as they may involve deliberate concealment or ¢olluJion. A further des¢rfplion of our responsib51itieJ for the audit of the financial statements is located on the Financial Reporling Counal'8 website at.. http.'IlvNfiv.frc.org,UkJ8uditor8r¢oponsibilitj. Thi8 descrtption forms part of our auditorfB report. other matter The charity's iftcome was below the threshold whgr? an audlt was rwuSreLI In the prlcr yeaf therefore the comparative flgures are not audlled U8• of our rnport This report is made solely lo the company's rrmber8. as a body. in accordance with Chapter 3 01 Part 16 of ihe CompAnie$ Act 2006 Our audit work has been uftdertaken so that we might glale lo the cornpany'$ members those motters we are required lo Jlal8 lo them In an auditor's report and fL)r no other purp08 To the fullest exlgnl pemiitted by law. we do not accept or assume r•spon8lbllity to anyone other Ih8n th• company and the company'B members a$ 4 body, for our audit work, for thi8 report, or lor Ihe opinion5 we have lOMd, Mlrlam Hlckson FCA Isenlor Statutory Audltor) for and on b•h&lf ofJ•¢ob CAv#n•gh & Sk••t Statutory Audllor Chart•r•d A¢¢ountsnts S Robin Hood Lane Sutton Surrey SM1 28W Dated.. Page8
COMMUNITY LIFE TRUST known as BEACON CHURCH CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST MARCH 2024 2024 2023 Income and Expenditure Unrestricted Restricted funds funds Total funds Unrestricted R8Stricted funds funds Total funds Note Income from Donations: Offerings and gifts 125,979 566,075 692,054 129,430 125,907 255,337 Income tax refunds 22,282 3,697 25,979 19,271 5,188 24,459 Grants.. Government Other 40,520 57,867 40,520 57,867 43,960 61,560 43,960 61,560 Gifts in kind.. Donated food 216,644 216,644 191,264 191,264 Interest receivable Charitable activities Trading activities 1,417 3(a> 9,009 3(b) 150,504 785 2,202 9,009 150,504 478 9,555 139,980 494 972 9,555 139,980 Total Income 309,191 885,588 1,194,779 298,714 428,373 727,087 Expendlturo on Charitable activities 4(8) 177,934 475,824 653,758 136,765 433,511 570,276 Trading acti 4( cl 180,038 180,038 158,721 158,721 Total expendlture 357,972 475,824 833,796 295,486 433,511 728,997 Net Incomel(expendltur•) for the year {48,781) 409,764 360,983 3,228 (5,138) (1,910) Transfers between funds 400,000 (400,000) (1,000) 1,000 Net movement in funds for the year 351,219 9,764 360,983 2,228 (4,138) (1.910 Reconciliation of funds Total funds brought forward 815,295 407,180 1,222,475 813,067 411,318 1,224,385 Total funds carried forward 1,166,514 416,944 1.583,458 815,295 407,180 1,222.475 The company has no income or expenditure other than those shown above. Page 9
COMMUNITY LIFE TRUST known as BEACON CHURCH CONSOLIDATED BALANCE SHEET AT 31ST MARCH 2024 Company number: 4518128 2024 2023 Note Fixed Assets Tangible Fixed Assets 9(a) 1,049,626 593,668 1,049,626 593,668 Current Assets Donated Foodbank Stock BHSL stock Debtors Cash at bank and in hand 37,041 400 26,473 487,989 551,903 37,747 400 29,194 570,755 638,096 12 Credltors Amounts falling due within one year 13 18,071 9,289 Net currant a8Sat8 533,832 628,807 Total assets less current Ilabllltles 1,583,458 1,222,475 Total Assets 14 1,583,458 1,222,475 Funds Restricted funds Unrestricted funds 15 416,944 1,166,514 407,180 815,295 1583 458 1222 475 The charity's net income for the year was £384,309 (2023 £10,423). These financial statements have been prepared in accordance with the provisions available to Small companies subject to the small companies regime within Part 15 of the Companies Act 2006. The accounts were approved by the trustees on I gth December 2024 and signed on their behalf by Keith Holder Page 10
COMMUNITY LIFE TRUST known as BEACON CHURCH CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2024 2024 2023 Note Cash provided by operating activities (see below) 401,507 33,278 Cash flows from investlng activities Purchase of tangible fixed assets (484,273) (6,167) Cash provlded by Invostlng actlvltle8 484,273 6,167 (Decrease)lincrease in cash and cash equivalents in the year 82,766 27,111 Cash and cash equivalent8 at the beginning of the year 570,755 543,644 Total cash and cash equlvalents at the end of the year 487,989 570,755 Reconclllation to cash flow 2024 2023 Net movement in fund8 Add back depreciation charge Decrease in stock Decreasel{increase) in debtors Increase in creditors 360,982 28,315 707 2,721 8,782 (1,910) 25,619 10,232 (4,526) 3,863 Net cash provided by operatlng actlvltles 401,507 33,278 Page11
COMMUNITY LIFE TRUST known as BEACON CHURCH COMPANY BALANCE SHEET AT 31ST MARCH 2024 Company number: 4518128 2024 2023 Note Fixed Assets Tangible Fixed Assets Investment in Subsidiary Companies 9(b) 10 464,320 834,880 1,299,200 9,529 855,888 865,417 Current Assets Donated Foodbank stock Loans to Subsidiary Companies Debtors Ca8h at bank and in hand 37,041 37,747 12 25,979 474 842 537,862 24,459 556,108 618,314 Credltors Amount8 falling due within one year 13 9,340 1,900 Net currant assets 528,522 616,414 Total assets less current Ilabllltles 1,827,722 1,481,831 Total A888ts 14 1,827,722 1,481,831 Funds Restricted funds Unrestricted funds 15 416,944 1,410,778 407,180 1,074,651 1827 722 1481831 These financial statements have been prepared in accordance with the provisions available to small companies subject to the Small companies regime within Part 15 of the Companie8 Act 2006. The accounts were approved by the trustees on IKth December 2024 and signed on their behalf by Keith Holder Page 12
COMMUNITY LIFE TRUST known as BEACON CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of the financial statements are as follows.. Accountlng convention The financial statements have been prepared under the Companies Act 2006 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102}), Financial Reporting Stand8rd 102 (FRS 1021 and the Charities Act 2011. The financial statements are drawn up on the historical cost basis of accounting, as modified by the revaluation of investments. The financial statements have been prepared in sterling with figures rounded to the nearest pound. There are no material uncertainties affecting the charity's ability to continue its operations and therefore the going concern basis of accounting has been used in the preparation of the financial ststements. Community Life Trust meets the definition of a public benefit entity under FRS 102. It is a company limited by guarantee incorporated in England and Wales with its registered office at 95 Guildford Street, Chertsey, Surrey, KT16 9AS. The financial statements present information about the charity as an individual undertaking and not as a group as it qualifies as a small group. Con8011datlon The group financial statements combine the results of the trust and its subsidiary undertakings. Community Life Properties Limited la property investment company) and Beacon Hospitality Servlces Limited (operates a coffee shop). The accounts have been consolidated on a line by line basis. A separate Statement of Financial Activities for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by Section 408 of the Companies Act 2006. Income All Income Is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be reliably measured. When donors specify that donations and similar income are ft)r particular restricted purposes, this income Is Included in income of restricted funds. Donated good8, facllltle8 and 80rvlce8 Donated food is recognised as income when it is received. Donated facilities are recognised as they are used. The time donated by general volunteers is not recognised in the financial statements but their significant contribution is discussed in the trustees report. Expendlture Expenditure is classified under the following activity headings.. Expenditure on charitable activities includes the cost of those activities undertaken to further the purposes of the charity and their associated support costs. Other expenditure represents those items not falling under any other heading. Page 13
COMMUNITY LIFE TRUST known as BEACON CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST MARCH 2024 continued Support Costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include office costs and govemance costs which support the charity's activities. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. The basis on whlch support costs have been allocated are set out in Note 4. Tanglblo flxed a880ts Tangible fixed assets are depreciated at the following annual rates.. Equipment- 25 % (reducing balance basis) Vehicles- 25Q/o (reducing balance basis) Buildings - 1.50/0 (straight lin8 basis) Freehold land is not depreciated. Inv08tments Investments in subsidiary companies 8re Included at directors, valuation at the balance sheet date. Fund accountlng Funds held by the charity are unrestricted general funds whlch can be used In accordance wlth the charitable objects at the discretion of the trustees or restricted funds which can only be used for particular purposes. Ca8h and ca8h equlvalents Cash at bank and in hand includes cash and short term highly liquid Investments with a short maturity of three months or less from the date of opening of the deposit. Credltor8 and prov181on• Credltors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount. Flnanclal Instruments The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. These are initially recognised at transaction value and subsequently measured at their settlement value. Stock Donations of food held at the year end are valued at £2.37 per kg. TAXATION The charitable company is exempt from corporation tax on its charitable activities. Page 14
COMMUNITY LIFE TRUST known as BEACON CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST MARCH 2024 continued 3(a) INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Something DifferenVYP Little Lights Other activities Hire of building 2,002 2,281 4,726 1,708 2,265 5,582 3{b) INCOME FROM TRADING ACTIVITIES 2024 2023 Beacon Hospitality Services Limited Community Life Properties Limited 130,164 20,340 116,648 23,332 139 980 4(a) EXPENDITURE ON CHARITABLE ACTIVITIES Grant Actlvltle8 Fundlng of undertaken Actlvltles dlrectly support C08t8 Total 2024 Total 2023 General church activities and pastoral care Young people and chlldren's work Outreach Relief of povety Advancement of Christian falth Training and conferences Other church activities (includes Foodbank & JAHH) 59,126 558 3,237 13,804 152 758 72,930 64,553 710 243 3,995 3,836 3,405 2,052 23,878 21,503 6,712 3,501 533,498 472,650 3,405 23,878 5,423 473,658 1,289 59,840 Governance costs (4lb)) 8,630 8,630 1,938 Total 27,283 542,002 84,473 653,758 570,276 Support costs are allocated to each of the charitable activities (excluding grant funding) in proportion to the amount expended on each of these activities. 4{b} GOVERNANCE COSTS 2024 2023 Unrestricted Independent Auditor's Fee Independent Examinerfs Fee Legal and Compliance 8,582 1,890 48 48 8,630 1,938 Page 15
COMMUNITY LIFE TRUST known as BEACON CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 continued 41c) EXPENDITURE ON TRADING ACTIVITIES 2024 2023 Beacon Hospitality Services Limited Community Life Properties Limited 137,766 42,272 122,739 35,982 180 038 158 721 5 GRANTS PAYABLE During the year, grants were paid out in furtherance of the charity's objects as follows,. Purpo88: Advancoment of the Chr18tlan falth 2024 2023 Gr8nts payable over £1, 000 Newfrontier8lCataly8t Neork Moyo Hospital Regions Beyond Clarens 5,400 1,000 1,250 4,800 1,000 Grants payable under £1,000 Wycliffe Bible Translators Open Doors Uzuko Lwakhe Church Tribal Transformation India 720 250 750 140 720 250 9,510 6,770 Grants to Christian workers - Grants to 3 Indlvlduals (2022.. 3) 13,500 13,073 Purpose: Rellef of per80n8 who are In condltlons of need, hardshlp or dl8tre88 Tearfund 1,165 1,752 Grants to individuals - 3 (2023.. 1) 3,108 300 Page 16
COMMUNITY LIFE TRUST known as BEACON CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 continued 6 NET INCOME I (EXPENDITURE) 2024 2023 This is stated after charging.. Depreciation Independent Auditor's remuneration Independent Examiner's remuneration 28,315 8,582 25,619 1,890 7 STAFF COSTS 2024 2023 Gross salarles Employer's National Insurance Employerfs Pension 204,941 6,131 5,004 182,595 5,308 4,329 216 076 192 232 The average number of full time equiva18nt employees during the year was,. 15 13 No employee received emoluments over £60,000. Aggregate employee benefits of key management personnel were £80,574 {2023'. £81,095) 8 TRUSTEES, EXPENSES AND REMUNERATION The following Trustees were remunerated for thelr full time roles and not being a majority of the number of Trustees and thus allowed under the Memorandum of Association.. 2024 2023 Nathan Wardill Salary Pension 54,784 51,200 The wife of one Trustee was employed during the year and remunerated as follows.. Jennifer Wardill Salary Pension 16,351 490 14,556 437 During the year, no Trustees were reimbursed for travel costs (2023'.none). No Trustees granted interest free loans to the charity during the year. During the year, unrestricted donations of £43,519 were received from Trustees and related parties (2023= £43422) and restricted donations of £402,410 (2023.. £420). Page 17
COMMUNITY LIFE TRUST known as BEACON CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 continued 9(a) FIXED ASSETS . Group Plant and machinery Land and buildlngs Vehlcles Equipment Total Cost or valuatlon At 1 st April 2023 Additions Disposals At 31 st March 2024 253,438 26,375 642,101 455,000 12,000 31,331 2,898 938,870 484,273 279 813 1097,101 34 229 1423 143 Depreclatlon At 1 st April 2023 Disposals Charge for the year At 31st March 2024 207,605 103,795 8,203 25,599 345,202 222 047 114561 27 757 373 517 Net book value 31st March 2024 982 540 6 472 1049 626 31st March 2023 538 306 5 732 593 668 91b) FIXED ASSETS . Charlty Bulldlng• Vehlcles Equlpment Total C08t or valuatlon At 1 st April 2023 Additions Disposals At 31st March 2024 12,000 31,331 2,898 43,331 457,898 455,000 455 000 34 229 501229 Doproclatlon At 1 st April 2023 Dlsposals Charge for the year At 31st March 2024 8,203 25,599 33,802 949 Net book value 31st March 2024 455 000 6 472 464 320 31 st March 2023 All assets are held for charitable use. Page 18
COMMUNITY LIFE TRUST known as BEACON CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 continued 10 INVESTMENT IN SUBSIDIARY COMPANIES 2024 2023 Share capltal Loan Investment in Community Life Properties Limited Investment in Beacon Hospitality Services Limited 626,600 100 128,180 80,000 754,780 732,480 80,100 123,408 626,700 208 180 834 880 855 888 11 LOANS TO SUBSIDIARY COMPANIE8 2024 2023 Loans to Community Life Properties Limited 12 DEBTORS Group Charlty 2024 2024 2023 2023 Income tax recover8bl8 Prepayments Other debtors 25,979 24,459 25,979 24,459 494 4,735 24 459 13 CREDITORS - WITHIN ONE YEAR Group Charlty 2024 2024 2023 2023 Accruals Pension to NEST Taxation and social securlty Trade creditors Other creditors 8,400 940 7,960 (11 772 1,900 8,400 1,900 7,115 271 Page 19
COMMUNITY LIFE TRUST known as BEACON CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 continued 14{a) NET ASSETS . Group Cash at Other not Total bank a88et8 2024 2024 Restricted funds Unrestricted funds 379,903 37,041 416,944 108,086 1,058,428 1,166,514 487 989 1095 469 1583 458 Cash at Other net Total bank a880ts 2023 2023 Restricted funds Unrestricted funds 369,432 201,323 37,747 407,179 613,973 815,296 570 755 651720 1222 475 14{bl NET A8SETS . Charlty Cash at Other net Total bank a888ts 2024 2024 Restricted funds Unrestricted funds 379,903 37,041 416,944 94,939 1,315,839 1,410,778 474 842 1352 880 1827 722 Cash at Other net Total bank assets 2023 2023 Restricted funds Unrestricted funds 369,432 186,676 37,748 407,180 887,975 1,074,651 556 108 925 723 1481831 Page 20
COMMUNITY LIFE TRUST known as BEACON CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 continued 15 RESTRICTED FUNDS Just a Gifts for Helping Runnymede designated Bulldlng Hand Foodbank recipients Total 2024 2024 Brought forward Income Income tax refunds Expenditur8 Transfers 17,504 388,714 10,795 467,478 468 3,016 {14,194) (457,924) 962 407,180 3,618 881,891 212 3,696 (3,705) (875,823) 400,000 1400,000) Carried forward 401284 416 944 Ju8t a Glfts for Helplng Runnymed8 deslgnated Hand Foodbank recipients Total 2023 2023 Brought forward Income Income tax refunds Expenditure Transfers 12,229 398,164 7,007 414,643 192 4,621 (1,924) {428,714) 925 411,318 1,535 423,185 375 5,188 <2,873) (433,511) 1,000 1,000 Carrled forward 388 714 962 407 180 la) Glfts for deslgnated r8clplent8 Restricted funds represent gifts with restrictions to particular Christian organisations, Christian workers or other purposes within the objects of the charity, These are usually distributed within the accounting period, The amount outstanding at the year end represents gifts for persons in condition of need, hardship or distress, Ib} Just a Helplng Hand This restricted fund was created to hold monies donated in support of Just a Helping Hand which was established to support homeless people in the area. ( c) Building A donation was received towards the cost of the purchase of a propety in the year. The transfer to general funds reflects the completion of the purchase. Page 21
COMMUNITY LIFE TRUST known as BEACON CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 continued (c) Runnymode Foodbank 2024 2023 INCOME Flnanclal Brought Forward from 2022123 Donations - Gift Aided Donations - Non-Gift Aided Grants Grant Aid Interest Tax Refund 350,966 12,066 139,618 98,387 350,185 18,485 98,880 105,520 763 494 604,816 578,185 Glfts In Klnd Brought Forward from 2022123 Donated Food 37,748 216 644 47,979 191284 239,243 254,392 TOTAL INCOME 859,208 817.428 EXPENDITURE Re80urc08 Purchased Stock Gift Cards Warehouse Costs Van Running Costs Telephone Bank Charges utility Costs at The Beacon Gaslelectricity for Clients Other Miscellaneous Resources 67,212 5,400 73,246 5,531 363 60 4,000 33,323 9,200 88,736 1,608 242 113 3,000 5,800 3,060 5,783 161,595 145,082 Stafflng Salaries & Related Costs Travel Expenses 78,846 132 82,074 63 78,978 82,137 R980urce8 In Klnd Total Resources in Kind 217,351 201,495 TOTAL EXPENDITURE 457,924 428,714 Carried Forward to 2024125 401,284 388,714 Gifts in Kind are valued as follows.. Donated food valued at £2.37 per kg as advised by Trussell Trust. Donated facilities valued at market cost. Page 22
COMMUNITY LIFE TRUST known as BEACON CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST MARCH 2024 continued 16 SUBSIDIARY UNDERTAKINGS Two subsidiary limited companies have been created by the trust which owns 100 % of the shares of both companies. The directors of both companies are the trustees which ensures control of both companies is with the trust. (a) Community Life Propertlos Llmlted Icompany No 08709994 Incorporated In England & Wale8) This company was created to purchase, own, develop and maintain such properties as the trust requires fof Its activities which includes the operation of a coffee shop, 2024 2023 Turnover Expenditure Operating proflV(loss) 23,940 26,932 Total assets at year end 450,646 470,337 (bl Beacon H08pltallty Servle88 Llmlted (Company No 08710023 Incorporated In England & Wal88) This company was created to operate the coffee shop which 18 Situated in the property purchased In Chertsey. 2024 2023 Turnover Other operating income Expenditure Operating profitl(loss) 135,364 121,848 137 766 122 739 891 Total liabilities at year end 106,628 102,993 17 RELATED PARTY TRANSACTIONS During the year the charity was paid £1,359 loan interest by Community Life Properties Limited (CLPL) and £1,233 loan interest by Beacon Hospitality Services Limited {BHSL). The charity was repaid £7,700 of the long term loan made to CLPL and £4,890 of the long term loan made to BHSL, The charity was owed £128,180 by CLPL and £80,000 by BHSL in long term loans at the year end. Tiffeny Masinjira Musiiments, the daughter of the trustee Felix Mashedi, was paid a salary of £2,224 (2023 £1,452) by the subsidiary company Beacon Hospitality Services Limited for her work in the coffee shop. 18 OPERATING LEASE COMMITMENTS At the reporting date the charity had outstanding commitments of £65,532 {2023'. £131,064) for future minimum lease and service charge payments for the Foodbank warehouse. There is also an ongoing commitment of £3,185 (2023.. £4,280) for the photocopier lease. 19 POST BALANCE SHEET EVENTS A gift day was held to raise funds towards the renovation of the newly purchased building. The day raised over £60,000. Page 23