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2020-12-31-accounts

ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

VISION FOR LIFE TRUST

CHARITY REGISTRATION No: 1105286

Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

1

VISION FOR LIFE TRUST
CONTENTS
Page 3 Legal and Administrative Information
Page 4 Independent Examiner's Report to the Trustees
Pages 5 to 8 Trustees' Report
Page 9 Statement of Financial Activities
Page 10 Balance Sheet
Pages 11 to 16 Notes to the Financial Statements

2

VISION FOR LIFE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

WORKING NAMES Destiny Church CHARITY NUMBER 1105286 START OF FINANCIAL YEAR 1st January 2020 END OF FINANCIAL YEAR 31st December 2020 TRUSTEES AT 31ST DECEMBER 2018 Michael John Radcliffe (Lead Pastor) Shawn Skellon (Executive Leader) Barnaby Kirk (Executive Leader)

The existing trustees appoint any new trustees following the provisions laid out in the organisation's governing instrument.

LEGAL STATUS Unincorporated Charity GOVERNING INSTRUMENT Constitution Adopted 17th February 2004 as Amended 13th July 2004.

OBJECTS The advancement of the Christian Faith.

CORRESPONDENCE ADDRESS Destiny Christian Centre P O Box 386 Weston Super Mare Somerset BS22 7ZR PRIMARY BANKERS Lloyds Bank Plc 2 South Parade Weston-Super-Mare Somerset BS23 1JL HSBC Bank Plc 30 High Street Weston-Super-Mare Somerset BS23 1JE

INDEPENDENT EXAMINER

Keith Richards Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

3

INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

Report to the trustees/ members of Vision for Life Trust on the accounts for the year ended 31st December 2020 set out on pages 9 to 16.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Keith Richards

2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

Date: 28th October, 2021

4

VISION FOR LIFE TRUST

TRUSTEES REPORT

FOR THE YEAR ENDED 31ST DECEMBER 2020

1. Reference and Administration Details of the Charity, its Trustees and Advisors

The Charity is registered as Vision for Life Trust under the registration no. 1105286. The registered address is PO BOX 386, Weston-Super-Mare, Somerset BS22 7ZR.

The Trustees are:

Michael Radcliffe (Lead Pastor) Shawn Skellon (Executive Leader) Barnaby Kirk (Executive Leader)

The charities bankers are

HSBC, Weston-Super-Mare Lloyds TSB, Weston-Super-Mare

Independent Examiners are the appointed accountants for the charity.

2. Structure, Governance and Management

The Governing document is the Constitution and Rules which was approved by the AGM in 2005. The charity is managed and operates under the governance of the Trustees which formulates policy and strategy in accordance with the agreed Charity objectives. Trustees are appointed for particular roles taking account of experience, qualification and skills. Day to day management is the responsibility of the Executive Leadership Team led by Lead Pastor, Mike Radcliffe. The trustees have delegated aspects of decision making to the Executive Leadership Team and Team Leadership, whilst maintaining the responsibility for major strategic and financial decisions.

3. Objectives and Activities

The objects of the Charity are to advance the Christian faith with the Basis of Faith by:-

· Bringing together Christians and other interested friends/parties for devotional and evangelistic purposes.

· Engaging in other charitable activities for the advancement of the Christian Faith as the charity shall determine.

· Also, to relieve sickness and financial hardship and preserve good health by the provision of funds, goods or services of any kind, including through the provision and counselling and support in such parts of the United Kingdom or the world as the trustees may from time to time see fit.

The main aim of the charity is to provide opportunities for Christian, teaching, fellowship and evangelism through Sunday and midweek meetings. Special events supplement these meetings with a conference held annually. Visiting speakers from both inside and outside of the UK are invited to partake in these events. Alongside this National and International charities are supported through events such as CAP (Christians Against Poverty) Compassion Sunday, Operation Samaritans Purse, A21 Sunday and the Destiny Foundation.

5

VISION FOR LIFE TRUST

TRUSTEES REPORT (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2020

4. Achievements and Performance

The Trustees are satisfied that the set objectives were substantially achieved even with the impact of Covid and lockdown: -

· Through the holding of a varied programme of events and meetings throughout the year including, Sunday services, Mid-week Connect meetings, specific meetings for Men and Women (She and Man UP), visiting speakers and alternative events such as Connect Costa and Saturday and Sunday Chill Outs at local places for people to meet. These were adapted during the pandemic and lockdown and we moved quickly to an online platform which allowed us to continue to reach people and stay in contact with the members of the church. This allowed us to support in many ways especially those who were vulnerable or on their own via Zoom, Facebook and YouTube. There was spiritual and social input at all events.

· Through the setting up and running of online youth events to give young people somewhere to connect with others and share their feelings in a safe and supportive environment. There was a spiritual and social input at all events.

· Through running events to support and raise the profile of Christian charities which support people both in the UK and abroad. Again this moved online and we were able to have events which highlighted issues in India and the Philippines linked into the pandemic and its related effects on communities.

· Through the broadcasting via internet and social media of celebrations and events to an audience worldwide.

· Through the supporting via finances and resources (shoes and rice to Philippines, food and medical supplies to India) of various charitable organisations (Eg Compassion, A21, local women’s shelters, Operation Samaritans Purse, CAP)

· Through the ongoing support for the Watoto African children’s choir by hosting them and supporting them with financial gifts to enable the children to have a safe and secure start in life as well as a good education.

· Through sharing fellowship and worship with local community groups (e.g. working with local organisations at Christmas, support for local women’s refuge). This again moved online and allowed us to meet with others and allow them to share how they were feeling and their hopes and fears.

· The Angels Wings initiative (which has provided food support to those highlighted by various local organisations (e.g. CAB, Weston College, Food Bank) as in desperate need, continued to work during lockdown supporting organisations to feed local people in need and help to deliver medicine. This continues to expand and is regularly contacted by numerous local organisations to support those in desperate need. Angels Wings was invited again to participate via a stall at the HE Fresher’s Fayre at University College Weston, liaising with students and offering support. Alongside this, students at both Weston College and University Centre Weston have benefitted from Angels Wings food parcels and being able to talk to those who deliver them.

· Angels wings have also supported those who have linked into the CAP debt support we now have up and running. This has been an integral part in supporting people who have no food and are looking for support to change their circumstances. This year the impact of our help in the community was curtailed slightly but we were still able to provide large numbers of Angels wings parcels for people in this area and we continue to work with the local foodbank and Allied Homes to help those struggling.

· Through the continued building of links with other Churches and charities via CLIF meetings and the organisation of events which will impact the town and communities we live and work in.

· We have further developed our own youth work and online met monthly with a growing number of secondary school age children attending. This was an invaluable resource for this group who were able to share their concerns and fears whilst also having fun. We received lots of positive feedback from parents for the time, effort and support put into this resource. Alongside this, we continued to use other social media platforms and IT opportunities to keep in contact with members and support them when and where needed.

6

VISION FOR LIFE TRUST

TRUSTEES REPORT (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2020

4. Achievements and Performance (continued)

· Through the making of gifts and donations to those in Christian service and charitable organisations through offerings and gifts made by members attending meetings and events.

· Through the weekly updating of the website and the sharing of life changing messages through various mediums on this site not only to the UK but across the World. Throughout lockdown we were able to maintain weekly services online and added devotions and other encouraging posts during the week.

5. Financial Review

At this point in time the charity remain debt free with no overdraft facilities in place. We continue to have no fixed assets and have our own potable equipment which allows us to set up quickly where possible in different venues.

Paul Larcombe remains CAP centre manager and is paid by the organisation.

6. Review of the CAP centre

The Charity will continue to formulate and implement strategies that will achieve the agreed objectives.

We remain the lead church in Weston-Super-Mare and the surrounding area for CAP (Christians Against Poverty) and its work with local people began in June 2016. Paul Larcombe was appointed as Centre Manager.

This role continues to link 13 churches together in funding the CAP centre which we oversee in partnership with the main CAP Head Office.

The charity will continue to formulate and implement strategies that will achieve the agreed objectives.

We remain the lead church in Weston-Super-Mare and the surrounding area for CAP (Christians Against Poverty). The Weston Area CAP Centre, which works with local people, began in June 2016. Paul Larcombe was appointed as Centre Manager.

Around 18 churches fund the Weston Area CAP Centre, which we oversee in partnership with the main CAP Head office. About 12 churches give regularly, whereas other churches make annual donations. A number of individuals also give regularly for which we are grateful.

During the year ending December 31st 2020, the Weston Area CAP Centre was involved directly in working with clients. Despite the restrictions caused by the Covid pandemic, client appointments were still able to take place. There have been 86 New Client Enquiries to date, and 22 clients are now debt-free! A further 8 are on a CAP debt management plan. The work has been scaled up by 50% since starting, with a volunteer Debt Coach, Caroline Williams, also visiting clients.

Paul and Caroline continue to work with many clients and there is usually a waiting list of people who have enquired for help in the area. This highlights the important role the Centre plays in the area. Alongside this, Paul and the team have run CAP Money courses, where people have received coaching to help them to manage their finances better. This has also enabled other churches to run their own CAP Money Course.

CAP Celebration events have been held to raise awareness, as well as CAP Awareness events. These help to raise the profile of the Centre and its work. Paul has spoken at many churches in the area in their services, speaking about the work of the CAP Centre and the continued need for it in Weston-Super-Mare. Christmas and Easter hampers, assembled from generous food donations, have been presented. These have been well received by clients, who have been very appreciative.

7

VISION FOR LIFE TRUST TRtISTEES REPORT (Contlnued) FOR THE YEAR ENDED 31ST DECEMBER 2020 Ftstur• Pla We ctsryunue to SUPPOrt the yuln¢t￿le In sodety the W¢vk of th¢ CAP ￿ntrI arA1 an¢J arn iwlthrWJ to bulkl In wtrearh w¢xk lrto the town whkh wlll rolse the profile of ihe OrOan￿atkn. We tontlnue its ork 4￿r￿￿￿e other churches In the IVWD to creaie QPFXrtunllks for all ages to be supwrtd In dlffetent ways. We ore ty20Wno to develop rMr• ovtreiKh In the town centre through our Sunday e1pwl0r￿ LO to￿. We are also looklng to wld¢n Dur vmrk ￿th AIIW supyt Tr)re peoF4e fo&J parc who •¢ Lockdown ha$ 5h¢>%n us how well we are equlpped to opernte onllne and w• br• ￿ntinuIng to Kx)k al how wt can not only thvdop thls tad1￿¥ but atso sham ourexpErfence5 wlth other churche5 and or90n￿atbn$. The chadty wlll contlnue to fake step5 to Improve lis efflclency and Inwtt In all r( ¢S)s consklÉAtyJ commEnt5 ij￿ svgoe5tlons of all Involved In knrthorfng Impatt In the Ir￿￿1 and wlder communty. Th¥ tharlty to •dvertls¢ fhwugh w•bJtt¢ and other rnedlurn% to acdvely work tOW•Tds urowlno tts Trut•ts R••pon•lblllth• The chat1t￿5 2011 f4qbiro lh¢ trustees lo wepore financlal statement for each flmficlbl year whkh •lvts a and fair vK•w of the stjte ol affa1￿ ol the trust and of surplus of th• tw•t for thot perbDd. wepNrlrrtJ tho flnandal stbttmÈnts thts trusleos Dre requlred to.. Sort $vlt•tse 4CCQUDtlng PDllcles and apply them ccnsistentfy Mak• Jud9nwts Bnd 45tlfflJiq5 rhot are rea50r￿b1o and prudont ' thparo nn&n¢wi gtsttmwi15 ¢Jn thE gDlro uncorn tras15 unless tt Is Inapproprtate to pr•sume thDt th• tru ¢ontlnve In ex15tence. Thfj trvsrw w rtsponslble for kee￿n4 prowr atetsuntlno Mcordi. whkth dlOos• wllh reasonab￿ accuracy 4t at)y tlff ihe flnandal p)S￿l0n of the trust. They ore 4150 re5PDnslble for sofeguardlng the assets ofthe truAt and htnth for towng reasonabk ep5 Iw Ihe ve¥ent￿n Jnd detfflloTr of friud and 01￿{ Irreguhrftres, Apprn¥•d by the Trustee5 on.. . 021.- S*Thed on thelr be￿￿11bY Trustee.........

VISION FOR LIFE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2020

Notes
INCOMING RESOURCES
Incoming Resources from Generated Funds
Donations & Legacies
3a
Charitable Activities
3b
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Costs of Generating Funds
Charitable Activities
4b
Governance Costs
4b
TOTAL RESOURCES EXPENDED
NET INCOMING (OUTGOING) RESOURCES
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2020
2019
£
£
£
£
£
67,454
-
-
67,454
72,887
-
-
20,541
20,541
30,180
67,454
-
20,541
87,995
103,067
62,890
-
20,816
83,706
86,410
2,227
-
-
2,227
2,919
65,117
-
20,816
85,933
89,329
2,337
-
(275)
2,062
13,738
6,585
-
13,101
19,687
5,949
8,922
-
12,826
21,748
19,687

Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.

The notes on pages 11 to 16 form part of these financial statements.

9

VISION FOR LIFE TRU BALANCE SHErr ASAT 31ST DECEMBER 2020 Ihrewkted Deslgnated Re5trkts Funds Funds Fur Tol•l Tot•1 3l-D•c-20 31-D•c-l• Noi• Flx•d ••• TangWE A55ets Curf•ni AH•t• stock D¢btQW5 & Pre￿¥Ments Cash •t BDnk afyj In H)nd rotnl thrr•nl Ass•t 16 Ct•dltor•: al¥￿n￿ lalllng due wtth ono year 810 io NIT CVRRENY ASSETS 0,923 12,826 21.748 19,686 TOTAL ASSETS ￿$5 current IlabllttS 923 12,•16 Zl.? 19,686 Cr•dltor•: anM)unts f4lllw I more than on year io NET ￿9¢Y9 8.923 X2,821 2&74a Puttd• ol th• Ch•rltv Genernl Fund$ Des￿nated FUN Rertrki•d Fun 1.922 1,922 é,585 11,626 Total Fund 922 12,#26 21,748 1>.607 AppfDved by the frustee5 ¢Jn a71 Lo SIgnEd on thelrlyhalf by TruStt(_

VISION FOR LIFE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

1. ACCOUNTING POLICIES

Basis of Preparation & Assessment of Going Concern

Basis of Preparation

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.

The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.

Assessment of Going Concern

Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern

Incoming Resources

Recognition of Incoming Resources

These are included in the Statement of Financial Activities (SOFA) when:

▪ the charity becomes entitled to the resources;

▪ the trustees are virtually certain they will receive the resources; and

▪ the monetary value can be measured with sufficient reliability

Incoming resources are received largely by way of tithes, donations, offerings and contribution towards events and young peoples work.

Incoming Resources with Related Expenditure

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.

Grants and Donations

Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Tax Reclaims on Donations and Gifts

Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.

Contractual Income and Performance Related Grants

This is only included in the SOFA once the related goods or services has been delivered.

Gifts in Kind

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.

Donated Services and Facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

Volunteer Help

The value of any voluntary help received is not included in the accounts.

Investment Income

This is included in the accounts when receivable.

Investment Gains and Losses

This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

11

VISION FOR LIFE TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST DECEMBER 2020

1. ACCOUNTING POLICIES (continued)

Expenditure and Liabilities

Liability Recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Governance Costs

Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.

Grants with Performance Conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

Grants Payable without Performance Conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.

Support Costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.

Pensions

Pension contributions are charged to the Statement of Financial Activities as they become payable.

Unrestricted funds

These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.

Restricted funds

These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of the regular appeals for special offerings.

Designated funds

These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.

Fixed Assets

These are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt. The rates applied are as follows:

General Equipment 20% - Reducing Balance Basis

2. TANGIBLE FIXED ASSETS

Cost
01-Jan-20
Additions
Cost at
31-Dec-20
Depreciation
01-Jan-20
Charge
Depreciation at
31-Dec-20
Net Book Value
31-Dec-20
Net Book Value
31-Dec-19		 General
Restricted
Total
Equipment
Equipment
2020
£
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

The annual commitments under non-cancelling operating leases and capital commitments are as follows:

31st December 2020 : None

31st December 2019 : None

12

VISION FOR LIFE TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2020

3. INCOMING RESOURCES

Note
a) Donations & Legacies
Gifts Tithes & Offerings
Gift Aid Tax Recovered
b) Charitable Activities
Christians Against Poverty
5
4. RESOURCES EXPENDED
a) Cost of Charitable Activities
Activities & Events
Administrative Costs
Advertising & Publicity
Christians Against Poverty
5
Clothing Costs
Depreciation Expense
Equipment Ministry
Gifts & Donations
License & Subscriptions
Rent & Rates
Staff Costs
11
Sundry Expenses
`
b) Governance Costs
Bank Charges
Independent Examiner's Fee
Insurance Costs
Legal & Professional Fees		 Unrestricted Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2020
2019
£
£
£
£
£
55,080
-
-
55,080
61,837
12,374
-
-
12,374
11,380
67,454
-
-
67,454
73,217
-
-
20,541
20,541
13,655
-
-
20,541
20,541
13,655
-
-
-
731
256
-
-
256
401
143
-
-
143
680
-
-
6,950
6,950
7,234
60
-
-
60
233
-
-
-
-
113
5,203
-
-
5,203
7,013
3,330
-
-
3,330
1,805
701
-
-
701
990
3,263
-
-
3,263
8,610
49,720
-
13,867
63,587
56,284
215
-
-
215
1,339
62,890
-
20,816
83,706
85,433
292
-
-
292
175
-
-
-
-
810
894
-
-
894
825
1,041
-
-
1,041
241
2,227
-
-
2,227
2,051

13

VISION FOR LIFE TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2020

5. RESTRICTED FUNDS

CURRENT FINANCIAL YEAR

Christians Against Poverty
PREVIOUS FINANCIAL YEAR
Christians Against Poverty		 Balance
Balance
1-Jan-20
Income
Expenditure
Transfers
31-Dec-20
£
£
£
£
£
13,101
20,541
20,816
-
12,826
13,101
20,541
20,816
-
12,826
Balance
Balance
1-Jan-19
Income
Expenditure
Transfers
31-Dec-19
£
£
£
£
£
167
30,180
17,245
-
13,101
167
30,180
17,245
-
13,101

The restricted funds are wholly represented by the Charity's cash reserves.

6. DESIGNATED FUNDS

The Charity held no designated funds during this or the previous financial period.

14

VISION FOR LIFE TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2020

7. CASH AT BANK AND IN HAND

Cash at Bank & in Hand
8. DEBTORS AND PREPAYMENTS
Sundry Debtors		 Unrestricted
Restricted
Total
Total
Fund
Fund
31-Dec-20
31-Dec-19
£
£
£
£
9,733
12,826
22,558
6,759
9,733
12,826
22,558
6,759
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Dec-20
31-Dec-19
£
£
£
£
-
-
-
-
-
-
-
-

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Independent Examiner's Fee Unrestricted
Restricted
Total
Total
Fund
Fund
31-Dec-20
31-Dec-19
£
£
£
£
810
-
810
810
810
-
810
810

10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR

The Charity held no long term liabilities during this or the previous financial period.

15

VISION FOR LIFE TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2020

11. STAFF COSTS AND NUMBERS

TOTAL
2020
£
Gross Wages & Salaries
63,311
Employer's National Insurance Costs
-
Pension Contributions
275
63,587
Employees who were engaged in each of the following activities:
TOTAL
2020
Activities in furtherance of organisation's objects
3
3		 TOTAL
2019
£
56,284
-
221
56,505
TOTAL
2019
3
3

No employees received emoluments in excess £60,000 (2019: None)

12. PAYMENTS TO TRUSTEES AND OTHER RELATED PARTIES

During the financial year Trustee Mr M. Radcliffe and spouse Mrs L. Radcliffe received £47,955 (2019: £44,700) in renumeration in their capacity as Senior Pastors of the Vison for Life Trust in furthering the Charity's objects.

No other payments were made to trustees or any persons connected with them during this financial period. No other material transaction took place between the organisation and a trustee or any person connected with them.

13. RISK ASSESSMENT

The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

14. RESERVES POLICY

The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.

15. PUBLIC BENEFIT

The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake

16. STOCK

Stock consist of goods for resale in order to generate fund for the furtherance of the Charity's objects. Stock is valued at the lower of cost or net realisable value.

16