REGISTERED COMPANY NUMBER: 04705887 (England and Wales) REGISTERED CHARITY NUMBER: 1097368
Legacy Network (A Company Limited by Guarantee)
Unaudited Financial Statements For The Year Ended 31 December 2024
Kingswood Allotts Limited Chartered Accountants Sidings Court Lakeside Doncaster South Yorkshire DN4 5NU
Legacy Network
Contents of the Financial Statements For The Year Ended 31 December 2024
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Strategic Report | 2 | ||
| Report of the Trustees | 3 | to | 9 |
| Independent Examiner's Report | 10 | ||
| Statement of Financial Activities | 11 | ||
| Balance Sheet | 12 | ||
| Cash Flow Statement | 13 | ||
| Notes to the Cash Flow Statement | 14 | ||
| Notes to the Financial Statements | 15 | to | 20 |
Legacy Network
Reference and Administrative Details For The Year Ended 31 December 2024
TRUSTEES G E Jones G Botham C Nwokoma S Kupahurasa S Jones (appointed 26.6.2025) REGISTERED OFFICE Unit 12 Shaw Wood Way Wheatley Hills Doncaster South Yorkshire DN2 5TB REGISTERED COMPANY NUMBER 04705887 (England and Wales) REGISTERED CHARITY NUMBER 1097368 INDEPENDENT EXAMINER Kingswood Allotts Limited Chartered Accountants Sidings Court Lakeside Doncaster South Yorkshire DN4 5NU SOLICITORS Dickinson Wood 28 South Parade Doncaster South Yorkshire DN1 2DJ BANKERS The Co-operative Bank plc PO Box 101 1 Balloon Street Manchester M60 4EP
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Legacy Network
Strategic Report For The Year Ended 31 December 2024
The trustees present their strategic report for the year ended 31 December 2024.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................................ G E Jones - Trustee
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Legacy Network
Report of the Trustees For The Year Ended 31 December 2024
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 31 December 2024. 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).
The company is a charitable company limited by guarantee.
The company was incorporated on 20th March 2003 and registered as a charity on 2nd May 2003. On 1st June 2003 it took over the activities and assets of Doncaster Pentecostal Church (Now known as International City Church of Doncaster) (a charity in England and Wales) and Haven Christian Residential Home (a charitable company registered in England and Wales). On the 6th September 2005 it took over the activities, liabilities and assets of New Life Church Edlington, Doncaster (a charity registered in England and Wales). On 18 January 2012, the company changed its name from Doncaster Christian Ministries to Legacy Network.
Objectives and activities
The company is a registered charity and its principal objectives continued to be the:
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advancement of the Christian faith by the proclamation and furtherance of the gospel of God concerning his son Jesus Christ the Lord and the preaching and teaching of the word of God by the church in accordance with the statement of fundamental truths of Assemblies of God in Great Britain and Ireland as approved by the General Council from time to time.
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furtherance of the work of Assemblies of God and proclamation of its statement and such other charitable purposes as shall further the attainment of these objects.
To access the success of these objectives, we employ a range of criteria and measures:
Attendance and participation rates:
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Worship services: success was measured by regular attendance at Sunday services and special events, with a focus on growth in both membership and visitor engagement.
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Community programs: participation rates in community outreach programs, such as, youth and children's activities were tracked to evaluate the reach and impact of these initiatives.
Spiritual growth and discipleship:
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Small groups and bible studies: we assessed the effectiveness of our discipleship programs by monitoring the number of small groups formed, attendance consistency, and participant feedback regarding spiritual growth.
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Baptisms and membership: the number of baptisms and new numbers added during the period served as key indicators of spiritual growth within our community.
Volunteer engagement and development
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Volunteer participation: success was measured by the number of volunteers involved in various church activities, the diversity of volunteer roles, and the frequency of volunteer engagement.
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Training and development: we evaluated the effectiveness of volunteer training programs and development opportunities, aiming to enhance the skills and commitment of our volunteers and committing to one Team Night of training each season in the year.
Financial health and stewardship:
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Fundraising and donations: success was measured by meeting or exceeding fundraising goals, managing budgets effectively, and the transparency of financial reporting.
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Resource allocation: we assessed the effectiveness of how resources were allocated to various ministries and programs, ensuring alignment with Legacy church's mission and goals.
Volunteers play an indispensable role in the life of our church and community. Their contributions are not only vital to the day-to-day functioning of our programmes but also to the fulfilment of our mission.
Achievement and performance
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Legacy Network
Report of the Trustees For The Year Ended 31 December 2024
In 2024 we served our community in having two impact days where we had community projects across the cities, volunteering in homes that needed clearing and cleaning, picking up litter in the local areas, and creating gifts and hampers to honour them across Doncaster and Swansea.
Life-groups continued in 2024, some in person and some online, so the Church was able to connect and together in the community. We continued to work on our weekly programmes such as Youth, Young Adults, Kids work, Worship and Creative and, Marriage Course throughout our Doncaster and Swansea Campuses. In 2024 our Children's work increased and families have become more connected to Legacy Church.
The Swansea Campus has seen growth in 2024 in the now established and renovated building on Spring Terrace bringing in more families and individuals from the community housing two Sunday services and Community outreach programmes.
Youth clubs
The Youth Club in Doncaster ran weekly throughout 2024, we have seen a consistent growth on a Friday night and Sundays in our youth ministry. We have seen many of the youth become more involved in our Sunday services with serving in a variety of areas such as Worship, Operations, Coffee Shop, Legacy Kids Team and Tech Team. The Youth Programme on Friday evening are averaging 50 young people.
Legacy conference
In October 2024 we held our Legacy Conference, where we saw over 350 people attend from our Doncaster and Swansea Campuses.
Missions
In 2024 we continued to invest financial support into Life Church in Mozambique, Compassion and Mark Ritchie.
Conferencing and coffee shop
2024 saw an increase in conferencing and coffee shop businesses. With over 210 bookings in the conference centre. Both businesses have reached the community and saw different businesses and charities in Doncaster and Sheffield who have become ongoing clients and customers at our venue.
Financial review
The attached financial statements show the current state of finances, which the trustees consider to be satisfactory, particularly in the view of the continued development at the Doncaster building and establishment of the Swansea campus.
Risks and uncertainties:
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Fluctuating attendance and participation: changes in attendance at worship services and community programs can affect the church's outreach and influence. Lower participation rates my lead to reduced community engagement however, we have seen a year-over-year growth in attendance and new members across our Doncaster and Swansea campuses.
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Financial stability: the church's financial health is influenced by recurring donations and fundraising efforts, variability in donation levels, and unexpected economic impacts such as COVID-19 may impact financial stability, 2020 was a good test of this and showed that we are able to keep a steady state through donations and manage our costs efficiently.
Strategies and plans for managing the risks:
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Enhanced community engagement: we moved two double services October 2023, reaching and teaching the word of God to more people across Doncaster and Wales. We are actively involved in our community, providing aid and support to local schools and families in our community.
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Financial planning and stewardship: we adopt prudent financial management practices, including regular budgeting, monitoring of expenses and diversification of income streams. All of our activities are transparent, and we push accountability to ensure a stronger financial position.
Factors likely to affect future financial performance:
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Economic conditions: economic downturns may impact financial stability: we are also aware that the financial well-being of our congregation can affect their capacity to give. We are committed to our members and offer financial education such budgeting courses and support as necessary.
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Givers engagement and support: the generosity of our donors is crucial to our financial health. Similar to the above, we maintain strong relationships with our members through transparent communication and demonstrating the impact of their contribution.
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Regulatory changes: changes in charity regulations, tax laws or other legal requirements could have financial implications. We are committed to staying informed and adapting to any regulatory changes to minimise any potential impact on our operations.
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Legacy Network
Report of the Trustees For The Year Ended 31 December 2024
Principal funding sources:
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Monthly tithes and offerings: a significant portion of the church's funding comes from regular tithes and offerings from its congregation and members. This form of giving supports the day-to-day operations and community outreach programmes. The generosity of our members allows us to maintain our facility, support ministry staff ad provide resources for spiritual growth and discipleship.
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Conferencing and coffee shop: we offer our building and its facilities to members of the public, businesses and the local authority for us as a conference centre and place for training and meetings, as well as our coffee shop being open 4 days per week.
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Special fundraising and events: we organise various events and initiatives throughout the year. These events are designed not just to raise funds but primarily for the engagement of the community and promoting the mission of our church.
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Grants and funding: we actively seek grants and donations that align with our mission. These funds are often designated for specific purposes such as Youth or Kids programmes, supporting vulnerable groups or the enhancement of our building.
How funding supports our key objectives:
These funding sources collectively enable our church to:
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Advance the Christian Faith: regular funding supports our core activities such as worship services, teachings, pastoral ministry, discipleship and spreading of the Gospel of Jesus Christ.
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Support community outreach: we invest in young people and children through our various ministries (Youth, Young Lions, Legacy Kids and Little Lions). These programs are designed to demonstrate our commitment to serving our local community and creating a legacy for the younger generations to come.
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Maintain and enhance facilities: our church building plays a vital role in hosting all of our programmes including our Sunday services. Income from the monthly giving and tithes, facilitates towards the cost and maintenance of the building, ensuring we are providing a welcoming and safe environment to fulfilling our mission.
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Invest in volunteers and leadership development: funding supports the training and development of our volunteers and leaders, which enhances their ability to serve effectively and support our objectives.
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Financial health and stewardship: diversifying our funding sources ensures a more stable financial position. This allows us to budget and allocate resources effectively. It also allows us to plan long-term, ensuring that our mission and objectives can be sustained and expended in the future.
The Charity's reserve policy is as follows:
Unrestricted funds are needed: Financially, we have had another challenging year, however the total unrestricted funds increased by £46,226 to £609,440 at 31 December 2024. Net transfers between unrestricted and restricted funds was £31,245.
The company's investment powers are set out in its Memorandum and Articles of Association, and allow the company to invest funds not immediately required in investments, securities and property, subject to such conditions as may be required:
a. to provide funds which can be designated to specific projects to enable these projects to be undertaken at short notice.
b. to cover administration, resources and support costs without which the charity could not function.
The trustees consider it prudent that unrestricted funds should be sufficient:
a. to avoid the necessity of realising fixed assets held for the charity's use.
b. to cover three month's administration, resources and support costs.
c. to allow the charity to continue in operation if contingencies arise and to cover variations in working capital.
d. to allow the charity to acquire suitable premises from which to accommodate the existing and future growth in activities and people.
Unrestricted funds are currently well above the reserve policy. The level of funds is monitored and reviewed by the trustees at least quarterly, plus monthly reconciliations are undertaken and monitored monthly.
Fixed assets
The movement in fixed assets is shown in note 12 to the financial statements.
Plans for the future
The Trustees plans for the charity for the future include the following:
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Legacy Network
Report of the Trustees For The Year Ended 31 December 2024
- Continued growth as per the last two years:
Over the past two years we have restructured the leadership operations and administration systems of the church which has enhanced the way in which our key services operate. This has meant employing key personnel to be involved in the role of bringing leadership to our volunteer teams across both campuses.
In Doncaster we aim to see many more young people engaged with the church as we activate our Schools programme. This will help us engage more youth in our Friday youth meetings and see more then filtered into our main Sunday gatherings.
Our little lions parents and toddlers group in both campuses are engaging more adults and children which again is seeing people filtered into our key Sunday gatherings and with the launch of our Roar Children Club on a Friday night we are looking at enhancing our community outreach and engagement with families in Doncaster.
With Swansea soon doing two key services on a Sunday we aim to see both of these services in both congregations grow to a place where a third service is required. It is not unreasonable to see these third services being needed within the next year or two.
- To develop leaders and look at planting new churches:
We have this year opened our training academy back up in Doncaster and we have 6 students complete the course. This course is to deepen commitment and grow the person in key aspects of Bible understanding and application. As we progress in training disciples and leaders through our various programmes we want to then be in a place where we can plant new churches both in Wales and across areas of England. This will need personnel and resource, but this year is about getting things in place to allow us to begin looking at these future works.
- Team growth:
Over the past two years we have been working hard on growing team leaders and teams and as we move forward and gather more people our constant aim is to integrate them into our teams and grow them into leadership function. Having set in place the process for doing this, we will intentionally focus and moving people through the steps as required to develop them effectively. To enable growth of people we have set in place the structure and strategy and need to continue to outwork this through both campuses.
- Community involvement:
Over the past few years as we have restructured, we have had a few things that have served our community that we feel have worked, but we know we need to be more active.
In order to do this, we will be launching more life groups which is a connection group mid-week, signposting more people through our Connect Nights each Season, doing an Alpha Course in the week and giving more opportunity for baptisms throughout the year.
We are looking at various ways in which we can serve the communities we serve but are conscious that to do this we need to develop people who are part of the church to make sure they are growing as required. We are looking to increase our Life group attendance, our weekly engagement and the various training courses, that will then enable our people to have the confidence to serve others within the community.
Conferencing
As we move forward, we are continuing to look at new ways of promoting our conferencing business within the Doncaster context. We see conferencing as a way of helping cover the cost of the building, by adding funds and enabling employment of people, but also of bringing people into our building and highlighting some of the things we do as a church community, along with our coffee shop help serve people, whilst also enabling finances to service the costs of running the building. In the coming year we want to see the impact of conferencing and coffee shop increasing and we will be looking to different advertising strategy to do this.
Youth
As mentioned above, for our Doncaster Youth Club, we are anticipating an increase in our young people not only coming along to our Friday Night Group but becoming part of the Church as well through some new initiatives being looked at across our 11 - 18 years old. Our aim is not just involvement, but growth in confidence and with health in all aspects of their lives and our youth department is working to promote these aims consistently in their interaction with young people.
Warehouse coffee shop
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Legacy Network
Report of the Trustees For The Year Ended 31 December 2024
Over the last year we have expanded the coffee shop opening hours in the week for our customers and looked to increase our volunteering opportunities. We have been able to work with the local College and other training groups to facilitate work experience for young people and have had apprentices come and serve and work to gain the experiences they need to build confidence and abilities in serving others. We will be looking to advance these types of interactions that allow young and older people the ability to serve at the coffee shop and gain valuable experience to help them step into employment. We are building up a steady increase of regular attenders now which allows for interaction and care of people who require it, whilst running a professional coffee shop for all who come.
Public benefit
As a Christian community we continue to provide support and service to improve the quality of life and lifestyle to the residents of Doncaster and Swansea. This happens through various activities, seminars, workshops, training, social events and Christian services. This takes place mainly at the Legacy Centre in Doncaster and in Swansea.
Throughout 2024, the Charity has continued to provide identifiable benefit to the public in general and to the public in specific areas such as children's clubs, youth clubs, training, courses and all held on online platforms and in person, this has helped expose people to the life behind the scenes of a growing Church Campus.
There are other areas of public benefit that the charity delivers to our communities such as:
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Hampers given at Christmas to the local Doncaster and Swansea communities from received funding amounts and donations
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Mother and Toddler Clubs
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Leaders and service area training courses to staff and volunteers
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Marriage courses and Pre-Marriage Courses
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-Youth and Children Clubs Held Weekly for the Young People and Families to connect into
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Money management courses
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Marriage, funerals, baptism and baby dedications
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Opportunity for people to contribute in serving and using their gifts and abilities
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Visiting the poor, lonely and sick in our community
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Giving a positive role model to young people and families
We have complied with the duty under the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.
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Legacy Network
Report of the Trustees For The Year Ended 31 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The company is registered as a company limited by guarantee, without share capital. Its governing instrument is its Memorandum and Articles dated 3rd March 2003.
The Registered Charity Number is 1097368. The Charity's principal address and church office is at the Unit 12 Shaw Wood Way, Wheatley Hills, Doncaster, South Yorkshire, DN2 5TB. The company is known as Legacy Network. The company registration number is 4705887.
Our church operates under a well-defined structure designed to support our mission and ensure effective governance. The structure includes the Board of Trustees, Senior Pastors, Campus/Executive Pastors and Ministry Leaders.
Board of Trustees: The Board of Trustees holds the ultimate responsibility for the strategic direction, financial stewardship, and overall governance of the church. Trustees work closely with the Senior Pastor to make decisions that align with our mission and values.
Decision-Making Process: decisions are typically made through a collaborative process that involves consultation with relevant ministry leaders.
Appointment procedure: at the first annual general meeting all the directors shall retire from office. A director who retires at an annual general meeting may, if willing to act, be re-appointed, unless standing down by rotation. Unless otherwise determined by ordinary resolution, the number of directors shall not be less than three nor more than seven.
Induction and Training of Trustees: to ensure that our trustees are well-prepared for their roles, we have established policies and procedures for induction and ongoing training.
Induction Process: newly appointed trustees undergo a comprehensive induction program that introduces them to the church's mission, governance structure, and their specific roles and responsibilities. This process includes an overview of the church's strategic plan, financial policies, and key operational procedures.
Ongoing Training: Trustees are provided with regular training opportunities to enhance their understanding of governance, financial oversight, and relevant legal or regulatory requirements. This training is designed to ensure that trustees remain informed about best practices in charity governance and are equipped to make informed decisions.
Risk Management and Review:
In line with our commitment to good governance, the Board of Trustees regularly reviews the major risks facing the church and has established systems and procedures to manage these risks effectively:
Risk Review: during the reporting period, the Board conducted a thorough review of potential risks, including financial risks, operational risks, and risks related to safeguarding and compliance.
Statement of Assurance: we confirm that major risks have been reviewed and that adequate systems and procedures are in place to manage these risks, thereby safeguarding the church's assets and ensuring the continued fulfilment of our mission.
Reference and administrative details of the company, its trustees and advisers
The Trustees during the year were:
Grayson E. Jones (Chairman) Graham Botham Chinwe I. Nwokoma S Kupahurasa
In accordance with the Articles of Association, C. I. Nwokoma and S Kupahurasa, will retire at the forthcoming Annual General Meeting, and being eligible, will stand for re-election.
Details of remuneration and expenses paid for the trustees are shown in note 9 to the financial statements.
The recruitment and appointment of new trustees is set out in Section 13 of the charity's Memorandum and Articles.
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Legacy Network
Report of the Trustees For The Year Ended 31 December 2024
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................................ G E Jones - Trustee
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Independent Examiner's Report to the Trustees of Legacy Network
Independent examiner's report to the trustees of Legacy Network ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts 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
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the accounts 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 accounts to be reached.
Joshua Bearn FCCA
Kingswood Allotts Limited Chartered Accountants Sidings Court Lakeside Doncaster South Yorkshire DN4 5NU
Date: .............................................
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Legacy Network
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) For The Year Ended 31 December 2024
| Unrestricted Restricted fund funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 812,988 5,583 Charitable activities 5 Charity's voluntary operations 1,000 - Other trading activities 3 135,023 - Investment income 4 10,090 - Total 959,101 5,583 EXPENDITURE ON Charitable activities 6 Charity's voluntary operations 881,630 67,279 NET INCOME/(EXPENDITURE) 77,471 (61,696) Transfers between funds 17 (31,245) 31,245 Net movement in funds 46,226 (30,451) RECONCILIATION OF FUNDS Total funds brought forward 563,214 44,285 TOTAL FUNDS CARRIED FORWARD 609,440 13,834 |
2024 Total funds £ 818,571 1,000 135,023 10,090 964,684 948,909 15,775 - 15,775 607,499 623,274 |
2023 Total funds £ 684,786 1,000 117,478 9,235 812,499 842,928 (30,429) - (30,429) 637,928 607,499 |
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The notes form part of these financial statements
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Legacy Network
Balance Sheet
31 December 2024
| Notes FIXED ASSETS Tangible assets 12 CURRENT ASSETS Debtors 13 Cash at bank CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 17 Unrestricted funds: General fund Restricted funds: General fund TOTAL FUNDS |
2024 £ 189,729 50,041 415,483 465,524 (31,979) 433,545 623,274 623,274 609,440 13,834 623,274 |
2023 £ 232,320 37,968 357,132 395,100 (19,921) 375,179 607,499 607,499 563,214 44,285 607,499 |
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. G Botham - Trustee
The notes form part of these financial statements
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Legacy Network
Cash Flow Statement
For The Year Ended 31 December 2024
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Sale of tangible fixed assets Interest received Net cash used in investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2024 £ 64,639 64,639 (15,928) 50 9,590 (6,288) 58,351 357,132 415,483 |
2023 £ 35,591 35,591 (28,911) 780 8,335 (19,796) 15,795 341,337 357,132 |
|---|---|---|
The notes form part of these financial statements
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Legacy Network
Notes to the Cash Flow Statement For The Year Ended 31 December 2024
| 1. | RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING | RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING | ACTIVITIES | |
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Net income/(expenditure) for the reporting period (as per the Statement of Financial | ||||
| Activities) | 15,775 | (30,429) | ||
| Adjustments for: | ||||
| Depreciation charges | 58,519 | 75,625 | ||
| Profit on disposal of fixed assets | (50) | (780) | ||
| Interest received | (9,590) | (8,335) | ||
| Increase in debtors | (12,073) | (4,522) | ||
| Increase in creditors | 12,058 | 4,032 | ||
| Net cash provided by operations | 64,639 | 35,591 | ||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| Net cash | At 1.1.24 £ |
Cash flow £ |
At 31.12.24 £ |
|
| Cash at bank and in hand | 357,132 | 58,351 | 415,483 | |
| 357,132 | 58,351 | 415,483 | ||
| Total | 357,132 | 58,351 | 415,483 |
The notes form part of these financial statements
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Legacy Network
Notes to the Financial Statements For The Year Ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
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.
Income
Income is recognised in the Statement of Financial Activities when the charity has entitlement to the funds, any performance conditions attached to the items have been met, it is probable that the income will be received and the amount can be measured reliably.
Grants receivable
Income from grants, whether capital grants or revenue grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Compliance with section 396 to the Companies Act 2006
The trustees have departed from the requirement to follow the profit and loss account formats contained in Section 396 to the Companies Act 2006 on the grounds that the formats are not relevant to charitable organisations. The formats have therefore been amended to give a true and fair view and comply with the Charity SORP.
Donated assets and donated facilities
Facilities donated for use by the charity are included in incoming resources when receivable. Donated assets are included in incoming resources and capitalised as fixed assets at the trustees' estimate of their value to the charity.
Expenditure
Expenditure is recognised when it is incurred and liabilities recognised where expenditure incurred has not yet been paid for. It is assigned to the most appropriate Statement of Financial Activities heading and includes irrecoverable VAT.
Resources expended allocations
Expenditure has been allocated according to the various projects to which it relates, since in the opinion of the trustees, this would more fairly reflect the true running cost of each project and also facilitates control and monitoring of each project run by the charity.
Pension costs
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities as incurred.
Tangible fixed assets
Depreciation is provided to write off the cost over the estimated useful lives as follows:
Freehold property over 50 years Improvements to leasehold property over 10 years Computer equipment 33% straight line Church fixtures and fittings 25% straight line Motor vehicles 25% reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Details and movements in each restricted fund is included in the note 17 to the financial statements.
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Legacy Network
Notes to the Financial Statements - continued For The Year Ended 31 December 2024
2. DONATIONS AND LEGACIES
| Church offerings and gifts 3. OTHER TRADING ACTIVITIES Cafe income Hire of facilities 4. INVESTMENT INCOME Rents received Bank interest receivable 5. INCOME FROM CHARITABLE ACTIVITIES Activity Grants Charity's voluntary operations Grants received, included in the above, are as follows: Austin Bailey Grant SYCF Grant 6. CHARITABLE ACTIVITIES COSTS Charity's voluntary operations |
2024 2023 £ £ 818,571 684,786 2024 2023 £ £ 49,943 40,479 85,080 76,999 135,023 117,478 2024 2023 £ £ 500 900 9,590 8,335 10,090 9,235 2024 2023 £ £ 1,000 1,000 2024 2023 £ £ - 1,000 1,000 - 1,000 1,000 Direct Costs (see note 7) £ 948,909 |
|---|---|
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Legacy Network
Notes to the Financial Statements - continued For The Year Ended 31 December 2024
7. DIRECT COSTS OF CHARITABLE ACTIVITIES
| Restricted Unrestricted Funds Funds 2024 2024 £ £ Internal Workstreams - 41,523 Ministry - 69,398 Mission 34,879 - Outreach 9,451 882 Operations 3036 16,706 Pastoral - 16,632 Staff Expenses - 2,027 Marketing 672 3,173 Other - 4,108 Bank Charges - 7,009 Building and Maintenance - 38,305 Equipment and Tech - 26,436 Legal and Finance - 25,879 Office Costs 8 152,283 Staff Costs 19,233 385,457 Staff Expenses - 24,053 Travel - 9,290 Depreciation - 58,519 Sale of Assets - -50 67,279 881,630 8. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Surplus on disposal of fixed assets 9. TRUSTEES' REMUNERATION AND BENEFITS Trustees' emoluments |
Restricted Unrestricted Funds Funds 2024 2024 £ £ Internal Workstreams - 41,523 Ministry - 69,398 Mission 34,879 - Outreach 9,451 882 Operations 3036 16,706 Pastoral - 16,632 Staff Expenses - 2,027 Marketing 672 3,173 Other - 4,108 Bank Charges - 7,009 Building and Maintenance - 38,305 Equipment and Tech - 26,436 Legal and Finance - 25,879 Office Costs 8 152,283 Staff Costs 19,233 385,457 Staff Expenses - 24,053 Travel - 9,290 Depreciation - 58,519 Sale of Assets - -50 67,279 881,630 8. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Surplus on disposal of fixed assets 9. TRUSTEES' REMUNERATION AND BENEFITS Trustees' emoluments |
Restricted Unrestricted Funds Funds 2024 2024 £ £ Internal Workstreams - 41,523 Ministry - 69,398 Mission 34,879 - Outreach 9,451 882 Operations 3036 16,706 Pastoral - 16,632 Staff Expenses - 2,027 Marketing 672 3,173 Other - 4,108 Bank Charges - 7,009 Building and Maintenance - 38,305 Equipment and Tech - 26,436 Legal and Finance - 25,879 Office Costs 8 152,283 Staff Costs 19,233 385,457 Staff Expenses - 24,053 Travel - 9,290 Depreciation - 58,519 Sale of Assets - -50 67,279 881,630 8. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Surplus on disposal of fixed assets 9. TRUSTEES' REMUNERATION AND BENEFITS Trustees' emoluments |
Total 2024 £ 41,523 69,398 34,879 10,333 19,742 16,632 2,027 3,845 4,108 7,009 38,305 26,436 25,879 152,291 404,690 24,053 9,290 58,519 -50 948,909 |
Total 2024 £ 41,523 69,398 34,879 10,333 19,742 16,632 2,027 3,845 4,108 7,009 38,305 26,436 25,879 152,291 404,690 24,053 9,290 58,519 -50 948,909 |
Total 2023 £ 24,563 57,295 16,491 9,519 39,277 21,069 8,966 1,384 1,418 4,698 20,893 9,713 25,356 160,078 339,128 20,287 7,948 75,625 -780 842,928 |
Total 2023 £ 24,563 57,295 16,491 9,519 39,277 21,069 8,966 1,384 1,418 4,698 20,893 9,713 25,356 160,078 339,128 20,287 7,948 75,625 -780 842,928 |
|
|---|---|---|---|---|---|---|---|
| 2024 £ 58,519 (50) |
2023 £ 75,625 (780) |
||||||
| 2024 | 2023 | ||||||
| £ 51,538 |
£ 48,260 |
||||||
Trustees' remuneration is paid in accordance with the charity's Articles of Association and is in respect of G E Jones and includes pension contributions of £2,933 (2023 - £2,826).
The total amount of employee benefits received by key management personnel is £109,441 (2023 - £102,018).
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Notes to the Financial Statements - continued For The Year Ended 31 December 2024
9. TRUSTEES' REMUNERATION AND BENEFITS - continued
Trustees' expenses
Trustees' expenses amounted to £3,766 for reimbursement of goods and services (2023 - £8,101).
10. STAFF COSTS
| Wages and salaries Social security costs Pension costs |
2024 £ 366,772 27,657 10,261 |
2023 £ 310,310 20,573 8,245 |
||
|---|---|---|---|---|
| 404,690 | 339,128 | |||
| The average monthly number of employees during the year was as follows: Administration Community work Cleaners |
2024 7 8 2 17 |
2023 7 7 2 16 |
No employees received emoluments in excess of £60,000 (2023 - none).
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 680,919 3,867 Charitable activities Charity's voluntary operations 1,000 - Other trading activities 117,478 - Investment income 9,235 - Total 808,632 3,867 EXPENDITURE ON Charitable activities Charity's voluntary operations 818,744 24,184 NET INCOME/(EXPENDITURE) (10,112) (20,317) Transfers between funds (14,449) 14,449 Net movement in funds (24,561) (5,868) RECONCILIATION OF FUNDS Total funds brought forward 587,775 50,153 TOTAL FUNDS CARRIED FORWARD 563,214 44,285 |
Total funds £ 684,786 1,000 117,478 9,235 812,499 842,928 (30,429) - (30,429) 637,928 607,499 |
|---|---|
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Notes to the Financial Statements - continued For The Year Ended 31 December 2024
12. TANGIBLE FIXED ASSETS
| 12. | TANGIBLE FIXED ASSETS | |||||||
|---|---|---|---|---|---|---|---|---|
| Improvements | Fixtures, | |||||||
| to | fittings, | |||||||
| Freehold | leasehold | tools and | ||||||
| property | property | equipment | Totals | |||||
| £ | £ | £ | £ | |||||
| COST | ||||||||
| At 1 January 2024 | 143,026 | 490,585 | 366,290 | 999,901 | ||||
| Additions | - | - | 15,928 | 15,928 | ||||
| Disposals | - | - | (4,743) | (4,743) | ||||
| At 31 December 2024 | 143,026 | 490,585 | 377,475 | 1,011,086 | ||||
| DEPRECIATION | ||||||||
| At 1 January 2024 | 8,221 | 448,324 | 311,036 | 767,581 | ||||
| Charge for year | 2,860 | 22,589 | 33,070 | 58,519 | ||||
| Eliminated on disposal | - | - | (4,743) | (4,743) | ||||
| At 31 December 2024 | 11,081 | 470,913 | 339,363 | 821,357 | ||||
| NET BOOK VALUE | ||||||||
| At 31 December 2024 | 131,945 | 19,672 | 38,112 | 189,729 | ||||
| At 31 December 2023 | 134,805 | 42,261 | 55,254 | 232,320 | ||||
| 13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||||
| Trade debtors | 2024 £ 14,038 |
2023 £ 3,463 |
||||||
| Other debtors and prepayments | 36,003 | 34,505 | ||||||
| 50,041 | 37,968 | |||||||
| 14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||||
| Trade creditors | 2024 £ 1,465 |
2023 £ 940 |
||||||
| Other creditors and accruals | 30,514 | 18,981 | ||||||
| 31,979 | 19,921 | |||||||
| 15. | LEASING AGREEMENTS | |||||||
| Minimum lease payments under non-cancellable operating leases fall due as follows: | ||||||||
| Within one year | 2024 £ 99,000 |
2023 £ 99,000 |
||||||
| Between one and five years | 297,000 | 338,250 | ||||||
| 396,000 | 437,250 | |||||||
| Operating lease rentals paid in the year amounted to £99,000 (2023 - £92,250). |
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Notes to the Financial Statements - continued For The Year Ended 31 December 2024
16. ANALYSIS OF NET ASSETS BETWEEN FUNDS
----- Start of picture text -----
Unrestricted Restricted Total Total
2024 2024 2024 2023
£ £ £ £
Fixed assets 189,729 - 189,729 232,320
Net current assets 419,711 13,834 433,545 375,179
609,440 13,834 623,274 607,499
----- End of picture text -----
17. MOVEMENT IN FUNDS
RESTRICTED FUNDS
| Balance Incoming Resources Gains/(Losses) Balance |
Balance Incoming Resources Gains/(Losses) Balance |
Balance Incoming Resources Gains/(Losses) Balance |
Balance Incoming Resources Gains/(Losses) Balance |
Balance Incoming Resources Gains/(Losses) Balance |
Balance Incoming Resources Gains/(Losses) Balance |
|---|---|---|---|---|---|
| 01/01/2024 Resources Expended and Transfers 31/12/2024 £ £ £ £ £ Missions fund - 5,583 (22,766) 17,183 - Big Giveaway fund 7,501 - (9,450) 1,949 - Life Child fund - - (12,113) 12,113 - Audacious fund 812 - - - 812 Resilience Fund 3 35,972 - (22,950) - 13,022 |
|||||
| 44,285 | 5,583 | (67,279) | 31,245 | 13,834 | |
| UNRESTRICTED FUNDS | |||||
| Balance Incoming Resources Gains/(Losses) Balance |
|||||
| 01/01/2024 Resources Expended and Transfers 31/12/2024 £ £ £ £ £ General funds 163,112 959,101 (881,630) (31,245) 209,338 Designated funds Building fund 400,102 - - - 400,102 563,214 959,101 (881,630) (31,245) 609,440 |
General funds comprise funds of the church and community centre and funds of the former Haven Christian Residential Home.
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024 (2023 - none).
19. SHARE CAPITAL
The company is limited by guarantee and has no share capital. The current members are guarantors for £1.
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