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← Vision For Life Trust

2024-12-31-accounts

ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

VISION FOR LIFE TRUST

CHARITY REGISTRATION No: 1105286

Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester, West Sussex PO20 7EG

1

VISION FOR LIFE TRUST

CONTENTS

Page 3 Legal and Administrative Information
Page 4 to 8 Trustees' Report
Pages 9 Independent Examiner's Report to the Trustees
Page 10 Statement of Financial Activities
Page 11 Balance Sheet
Pages 12 to 18 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 2024 END OF FINANCIAL YEAR 31st December 2024 TRUSTEES AT 31ST DECEMBER 2024 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, amended 14th October 2024.

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 Zita Derbak Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester, West Sussex PO20 7EG

3

VISION FOR LIFE TRUST

TRUSTEES REPORT

FOR THE YEAR ENDED 31ST DECEMBER 2024

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 examiners for the charity.

2. Structure, Governance and Management

The Governing document is the Constitution and Rules which was approved by the AGM in 2005 and last updated in 2024. 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

· 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.

4. Achievements and Performance

The Trustees are satisfied that the set objectives were substantially achieved:

· Through the holding of a varied programme of events and meetings throughout the year including, Sunday services, M 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. Post pandemic, using the skills and experience we had gained in terms of development of our use of online platforms, we were able to continue to reach people and stay in contact with the members of the church and reach out beyond out location. This allowed us to continue 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 we put on across all areas of the organisation.

4

VISION FOR LIFE TRUST

TRUSTEES REPORT (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

4. Achievements and Performance (continued)

· Through the development of in-person youth events to give young people somewhere to connect with others and shar 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 an abroad. We were able to have events which highlighted issues in the Philippines linked into extreme weather conditions and its related effects on communities. Alongside this, we were able to continue to support work in the Ukraine and surrounding countries and support the work of the A21 organisation in doing this. We have continued to financially support this charity as they work with displaced people and those facing hardship through trafficking and other situations.

· Through the broadcasting via internet and social media of live, weekly celebrations and other events to an audienc worldwide. We have also been able to continue to update and add equipment to our media and creative ministries departments which has allowed us to improve the quality and effectiveness of what we produce.

· Through the supporting via finances and resources of various charitable organisations (Eg Compassion, A21, loca women’s shelters, Operation Samaritans Purse, CAP)

· Through sharing fellowship and worship with local community groups (e.g. working with local organisations at Christma and Easter, support for local women’s refuge). Through this work we were able to meet with others and allow them to share how they were feeling and their hopes and fears.

· The charity has continued its work through the Angels Wings initiative, providing support to families and individuals i need across Weston-Super-Mare and the surrounding area. This has primarily been achieved through the distribution of food parcels, both directly from the church and in partnership with local organisations.

· Over the year, more than 50 food parcels were distributed, ensuring that households experiencing financial hardship o food insecurity received practical assistance. Demand for food parcels in the local area has been rising, and the recent closure of some food banks has further increased the need for this type of support. The Trustees recognise that this activity contributes directly to the charity’s aims by relieving hardship and supporting vulnerable members of the community and therefore provides clear public benefit.

· The Trustees wish to acknowledge the commitment of volunteers and the support of local partners who have enable this work to continue effectively throughout the year. Looking ahead, the Trustees will continue to monitor levels of local need and review the allocation of resources to ensure that the Angels Wings initiative remains responsive and effective in meeting community demand.

· Angels Wings have also continued to support those who have linked into the CAP debt support we now have up an running. This remains an integral part in supporting people who have no food and are looking for support to change their circumstances. We have been 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 aimed to impact the tow and communities we live and work in.

· We have continued to develop and expand our own youth work monthly with a growing number of secondary school ag children attending. This has been an invaluable resource for this group who were able to share their concerns and fears coming out of lockdown, 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.

· Through the making of gifts and donations to those in Christian service and charitable organisations through offering 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 th site not only to the UK but across the World.

5

VISION FOR LIFE TRUST

TRUSTEES REPORT (Continued)

FOR THE YEAR ENDED 31ST DECEMBER 2024

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 portable equipment which allows us to set up quickly where possible in different venues.

Paul Larcombe remained CAP centre manager until his retirement and was paid by the organisation.

Pastors as Office Holders and Employment Arrangements

During the reporting period, the Trustees formally designated the church’s Pastors as office holders. This designation recognises their key responsibilities in the spiritual leadership, governance, and operational oversight of the church. As office holders, the Pastors are entrusted with leading worship, providing pastoral care, overseeing ministry activities, and contributing to the strategic direction of the church in alignment with its charitable objectives.

In line with this formal recognition, the Pastors are now salaried and employed under agreed terms and conditions. The church has implemented a PAYE (Pay As You Earn) system to ensure compliance with HMRC regulations, with all appropriate deductions for income tax and National Insurance made and reported accordingly. These arrangements enhance transparency and accountability and reflect best practice in the management of church personnel. Pastor Mike Radcliffe continues to serve faithfully in his dual role as both a Pastor and a Trustee. He brings valuable insight to the Board, ensuring continuity between the church’s spiritual leadership and its governance. The Trustees are committed to regularly reviewing these arrangements to ensure they remain appropriate, sustainable, and aligned with the church’s mission and resources.

Unrestricted year-end balance was £14,964, £6,419 less than last year, this is due to the decrease of general fund giving and increase in the overall costs in the year. The Charity aims to have 2 months reserve in the value of £12,000, this currently stand at £11,085.

6. Review of the CAP centre

The charity will continue to formulate and implement strategies that will achieve the agreed objectives. The Weston Area CAP (Christians Against Poverty) Centre, which helps local people to become debt-free, began in June 2016. Destiny Church continue to be the lead church in Weston-Super-Mare and the surrounding area for the work of Christians Against Poverty.

Paul Larcombe has been Centre Manager for 6 years, and the work has been scaled up by more than 50% since starting, with the appointment of a volunteer Debt Coach, Caroline Williams, who also visits clients. Around 18 churches fund the Weston Area CAP Centre, which Destiny oversee in partnership with the main CAP Head office. Twelve churches give regularly, whereas other churches make annual donations. A number of individuals have continued to give regularly, for which we are also grateful. Alongside this, we also have individuals who give one off gifts, which are linked into special events like CAP Easter and Christmas hampers. These hampers are collected and created by volunteers and distributed to those who are working with CAP. We want to bless those people and their families at times when they may find their situations even harder. This is a special event and always met with thanks from those receiving.

During the year ending December 31st 2024, the Weston Area CAP Centre was involved directly in working with clients. Through a series of home visits people are helped to become debt free. There have been over 150 new client enquiries to date, and over 40 clients are now debt-free! A further 9 continue to work through a CAP debt management plan with a view to becoming debt-free when all their debts have been paid off.

Additionally, several people who became clients, found a solution to their debt during the visit process. Paul and Caroline continue to work with many clients and there is often a waiting list of people who have enquired for help in the area. This highlights the important role that 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. They have also facilitated other churches to run their own CAP Money Courses.

Weston Area CAP Centre celebration and awareness events help to raise the profile of the Centre and its work. Paul continues to speak at many churches in the area during their services, speaking about the work of the CAP Centre and the continued need for it in Weston-Super-Mare and the surrounding area. Christmas and Easter hampers, assembled from generous donations, have been presented. These have been well received by clients, who have been very appreciative.

6

VISION FOR LIFE TRUST

TRUSTEES REPORT (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

6. Review of the CAP centre (continued)

During the year, the Trustees reviewed the future of the CAP Centre operated in partnership with CAP National. Following the planned retirement of the CAP Centre Manager during 2024, the Trustees, in consultation with CAP National office and the Weston centre supporters, resolved that the Centre would not continue in the longer term.

Arrangements have been made to ensure that all existing clients currently receiving support will continue to be assisted appropriately. No new clients will be taken on, and the Centre will be formally wound up during 2025. This process will be undertaken in consultation with, and with support from, CAP National Office to ensure that the closure is managed in an orderly and responsible manner.

As part of the closure process, it has been agreed that any remaining funds held by the Weston CAP Centre will be transferred to CAP National in 2025. This will ensure that all funds donated for the purpose of supporting individuals in financial difficulty continue to be applied directly to that charitable purpose, thereby maximising public benefit and enabling CAP National to continue its work with people experiencing problem debt across the UK.

The Trustees wish to record their thanks to the CAP Centre Manager and all volunteers for their service and commitment throughout the period of operation.

7. Future Plans

We continue to support the vulnerable in society via the work of the CAP centre and Angels Wings and are continuing to build on the outreach work previously carried out in the town which continues to raise the profile of the organisation. We continue to work alongside other churches in the town to create opportunities for all ages to be supported in different ways. As we move into 2024 there maybe changes ahead in terms of leadership of the CAP centre as Paul Larcombe is looking to retire and move onto new opportunities. The leadership are working with Paul to put in place contingencies to make sure the valuable work and impact of the CAP centre in Weston continues to flourish.

We are continuing to develop more outreach in the town centre through taking our Sunday experience to the town and continue to use the town square space in WsM regularly, to carry out outreach services. We have also, as previously planned, expanded our work with organisations such as Allied Homes to support more people with food parcels who are in need at this time.

We have continued to show how well we are equipped to operate online and have not only developed this facility but also shared our experiences with other churches and organisations.

The charity will continue to take steps to improve its efficiency and impact in all it does considering comments and suggestions of all involved in furthering its impact in the local and wider community.

The Charity continues to advertise through its website and other mediums to actively work towards growing its membership.

7

vrnzom FOR upe TrLryr TRusfeES REPORT (C•niinu•d) FOR THe YEAR ENDED 31ST DECEMBER 2024 2025.-.

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 2024 set out on pages 10 to 18.

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.

Zita Derbak Sign: Independent Examiners Ltd The Grain Store Date: 07.10.2025 Hills Barns Appledram Lane South Chichester, West Sussex PO20 7EG

9

VISION FOR LIFE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024

Notes
INCOMING RESOURCES
Incoming Resources from Generated Funds
Donations & Legacies
3a
Charitable Activities
3b
Investment Income
3c
Other Income
3d
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
Restricted
TOTAL
TOTAL
Funds
Funds
2024
2023
£
£
£
£
72,350
-
72,350
80,893
874
24,788
25,662
17,689
-
-
-
-
-
-
-
-
73,224
24,788
98,012
98,582
77,057
12,977
90,034
92,845
2,586
-
2,586
2,758
79,643
12,977
92,620
95,603
(6,419)
11,811
5,392
2,979
21,383
1,141
22,524
19,545
14,964
12,952
27,916
22,524

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 12 to 18 form part of these financial statements.

10

Ag AT Jisr DECEMDER 2024 3,191 13,597 1,150 14.747 11952 19,296 973 1.150 27.6 12.952 20,2 13.368 11952 26,320 14,439 12,952 27,•10 22,524 io 12.952 27.910 22,524 14.964 14,964 11952 21.3B3 1.141 12.952 14.964 12.952 27.916 22.524

VISION FOR LIFE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

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.

12

VISION FOR LIFE TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

1. ACCOUNTING POLICIES (continued)

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.

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, e.g. 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

13

VISION FOR LIFE TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

2. TANGIBLE FIXED ASSETS
Cost
01-Jan-24
Additions
Cost at
31-Dec-24
Depreciation
01-Jan-24
Charge
Depreciation at
31-Dec-24
Net Book Value
31-Dec-24
Net Book Value
31-Dec-23		 General
Restricted
Total
Equipment
Equipment
2024
£
£
£
7,977
-
7,977
-
-
-
7,977
-
7,977
4,786
-
4,786
1,595
-
1,595
6,381
-
6,381
1,596
-
1,596
3,191
-
3,191

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

31st December 2024 : None 31st December 2023 : None

3. INCOMING RESOURCES
Note
a) Donations & Legacies
Gifts Tithes & Offerings
Gift Aid Tax Recovered
b) Charitable Activities
Christians Against Poverty
5
Sundry Income
c) Investment Income
Interest received
d) Other Income
Other income		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2024
2023
£
£
£
£
58,731
-
58,731
66,245
13,619
-
13,619
14,648
72,350
-
72,350
80,893
-
24,788
24,788
17,689
874
-
874
-
874
24,788
25,662
17,689
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

14

VISION FOR LIFE TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

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
Restricted
TOTAL
TOTAL
Funds
Funds
2024
2023
£
£
£
£
603
-
603
3,571
665
-
665
735
77
-
77
175
-
12,977
12,977
6,264
123
-
123
-
1,595
-
1,595
1,915
3,346
-
3,346
4,378
4,236
-
4,236
2,215
534
-
534
108
8,595
-
8,595
8,352
55,066
-
55,066
64,932
2,217
-
2,217
200
77,057
12,977
90,034
92,845
349
-
349
441
1,008
-
1,008
950
1,229
-
1,229
1,237
-
-
-
130
2,586
-
2,586
2,758

15

VISION FOR LIFE TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

5. RESTRICTED FUNDS

CURRENT FINANCIAL YEAR

Christians Against Poverty
PREVIOUS FINANCIAL YEAR
Christians Against Poverty		 Balance
Balance
1-Jan-24
Income
Expenditure
Transfers
31-Dec-24
£
£
£
£
£
1,141
24,788
(12,977)
-
12,952
1,141
24,788
(12,977)
-
12,952
Balance
Balance
1-Jan-23
Income
Expenditure
Transfers
31-Dec-23
£
£
£
£
£
4,348
17,689
(20,896)
-
1,141
4,348
17,689
(20,896)
-
1,141

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.

7. CASH AT BANK AND IN HAND
Cash at Bank & in Hand
8. DEBTORS AND PREPAYMENTS
Gift Aid owed
Tax overpayment		 Unrestricted
Restricted
Total
Total
Fund
Fund
31-Dec-24
31-Dec-23
£
£
£
£
26,549
12,952
39,501
19,296
26,549
12,952
39,501
19,296
Unrestricted
Restricted
Total
Total
Fund
Fund
31-Dec-24
31-Dec-23
£
£
£
£
1,150
-
1,150
891
-
-
-
82
1,150
-
1,150
973

16

VISION FOR LIFE TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

HMRC
Independent Examiner's Fee		 Unrestricted
Restricted
Total
Total
Fund
Fund
31-Dec-24
31-Dec-23
£
£
£
£
389
-
389
-
990
-
990
936
1,379
-
1,379
936

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

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

11. STAFF COSTS AND NUMBERS

Gross Wages & Salaries
Employer's National Insurance Costs
Pension Contributions
Employees who were engaged in each of the following activities:
Activities in furtherance of organisation's objects		 TOTAL
2024
£
49,091
-
85
49,176
TOTAL
2024
3
3		 TOTAL
2023
£
64,363
-
569
64,932
TOTAL
2023
3
3

No employees received emoluments in excess £60,000 (2023: None)

17

VISION FOR LIFE TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024

12. PAYMENTS TO TRUSTEES AND OTHER RELATED PARTIES

During the financial year Trustee Mr M. Radcliffe and spouse Mrs L. Radcliffe received £54,678 (2023: £50,300) in renumeration for their pastoral roles and £920 in gifts in their capacity as Senior Pastors of the Vision for Life Trust in furthering the Charity's objects. They were also reimbursed for out of pocket expenses in the value of £1,414 which were paid for cost of milage, travel, entertainment and subscription cost.

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.

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