REGISTERED COMPANY NUMBER: 05270456 (England and Wales) REGISTERED CHARITY NUMBER: 1106918
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31st December 2021
for
LIVING LIGHT CHRISTIAN CHURCH, TAUNTON
Aspen Waite Ltd Rubis House 15 Friarn Street Bridgwater Somerset TA6 3LH
LIVING LIGHT CHRISTIAN CHURCH, TAUNTON
Contents of the Financial Statements FOR THE YEAR ENDED 31ST DECEMBER 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
LIVING LIGHT CHRISTIAN CHURCH, TAUNTON
Report of the Trustees FOR THE YEAR ENDED 31ST DECEMBER 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
The trustees provide each year a comprehensive report of the activities of the church during the year under review.This report is presented as a supplementary document and is attached to the financial statements at the end of the formal accounts.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05270456 (England and Wales)
Registered Charity number
1106918
Registered office
Gipsy Lane Taunton Somerset TA1 5LQ
Trustees
Mr Benedict Rupert E Thorne Spiritual Leader Mr John Christopher Lalgee Senior Spiritual Leader Mr Richard Karl Appleby Leader Mr Trefor Jones Leader Mr Kevin Parker Leader Mr Bruce Izzett Leader Mr Christopher Izzett
Company Secretary
Mr Benedict Rupert E Thorne
Independent Examiner
Carl Turner Chartered Certified Accountant Aspen Waite Ltd Rubis House 15 Friarn Street Bridgwater Somerset TA6 3LH
Page 1
LIVING LIGHT CHRISTIAN CHURCH, TAUNTON
Report of the Trustees FOR THE YEAR ENDED 31ST DECEMBER 2021
COMPREHENSIVE TRUSTEES REPORT
For the year under review, the trustees have produced an in-depth report in relation to the activities of the trust. This includes notes on charitable activities, financial overview, administration report, and aims and objects for the future.
This report is attached at the end of the formal accounts.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 5th September 2022 and signed on its behalf by:
Mr Benedict Rupert E Thorne - Secretary
Page 2
Independent Examiner's Report to the Trustees of Living Light Christian Church, Taunton
Independent examiner's report to the trustees of Living Light Christian Church, Taunton ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2021.
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 registered member of Chartered Certified Accountant 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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
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
-
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.
Carl Turner Chartered Certified Accountant Aspen Waite Ltd Rubis House 15 Friarn Street Bridgwater Somerset TA6 3LH
29th August 2022
Page 3
LIVING LIGHT CHRISTIAN CHURCH, TAUNTON
Statement of Financial Activities FOR THE YEAR ENDED 31ST DECEMBER 2021
| 31/12/21 | 31/12/20 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | fund | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies | 281,380 | 23,918 | 305,298 | 291,731 | ||
| Investment income | 2 | 19,742 | - | 19,742 | 39,984 | |
| Total | 301,122 | 23,918 | 325,040 | 331,715 | ||
| EXPENDITURE ON | ||||||
| Raising funds | 97,897 | 23,918 | 121,815 | 70,157 | ||
| Charitable activities | ||||||
| Overheads | 181,694 | - | 181,694 | 113,348 | ||
| Other | 75,683 | - | 75,683 | 71,507 | ||
| Total | 355,274 | 23,918 | 379,192 | 255,012 | ||
| NET INCOME/(EXPENDITURE) | (54,152) | - | (54,152) | 76,703 | ||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 759,057 | - | 759,057 | 682,354 | ||
| TOTAL FUNDS CARRIED FORWARD | 704,905 | - | 704,905 | 759,057 |
The notes form part of these financial statements
Page 4
LIVING LIGHT CHRISTIAN CHURCH, TAUNTON
Balance Sheet 31ST DECEMBER 2021
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds TOTAL FUNDS |
Unrestricted fund £ 558,341 159,403 (12,839) 146,564 704,905 704,905 |
Restricted fund £ - - - - - - |
31/12/21 Total funds £ 558,341 159,403 (12,839) 146,564 704,905 704,905 704,905 704,905 |
31/12/20 Total funds £ 565,431 196,578 (2,952) 193,626 759,057 759,057 759,057 759,057 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 5th September 2022 and were signed on its behalf by:
Mr Benedict Rupert E Thorne - Trustee
The notes form part of these financial statements
Page 5
LIVING LIGHT CHRISTIAN CHURCH, TAUNTON
Notes to the Financial Statements FOR THE YEAR ENDED 31ST DECEMBER 2021
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
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Freehold property | - 1% straight line basis |
|---|---|
| Fixtures and fittings | - 25% on 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.
2. INVESTMENT INCOME
| 31/12/21 | 31/12/20 | |
|---|---|---|
| £ | £ | |
| Rents received | 19,722 | 39,984 |
| Deposit account interest | 20 | - |
| 19,742 | 39,984 |
Page 6
continued...
LIVING LIGHT CHRISTIAN CHURCH, TAUNTON
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
4.
| 31/12/21 | 31/12/20 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 7,090 | 7,352 |
| TRUSTEES' REMUNERATION AND BENEFITS | ||
| 31/12/21 | 31/12/20 | |
| £ | £ | |
| Trustees' salaries | 75,683 | 71,507 |
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2021 nor for the year ended 31st December 2020.
5. STAFF COSTS
| Wages and salaries The average monthly number of employees during the year was as follows: Trustees Leadership/Administration No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 262,469 Investment income 39,984 Total 302,453 EXPENDITURE ON Raising funds 40,895 Charitable activities Overheads 113,348 Other 71,507 |
31/12/21 £ 116,884 116,884 31/12/21 4 3 7 Restricted fund £ 29,262 - 29,262 29,262 - - |
31/12/20 £ 104,219 104,219 31/12/20 5 4 9 Total funds £ 291,731 39,984 331,715 70,157 113,348 71,507 |
|---|---|---|
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
Page 7
LIVING LIGHT CHRISTIAN CHURCH, TAUNTON
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted fund fund £ £ Total 225,750 29,262 NET INCOME 76,703 - RECONCILIATION OF FUNDS Total funds brought forward 682,354 - TOTAL FUNDS CARRIED FORWARD 759,057 - 7. TANGIBLE FIXED ASSETS Fixtures Freehold and property fittings £ £ COST At 1st January 2021 and 31st December 2021 630,042 32,291 DEPRECIATION At 1st January 2021 67,765 29,137 Charge for year 6,301 789 At 31st December 2021 74,066 29,926 NET BOOK VALUE At 31st December 2021 555,976 2,365 At 31st December 2020 562,277 3,154 |
Total funds £ 255,012 76,703 682,354 759,057 Totals £ 662,333 96,902 7,090 103,992 558,341 565,431 |
Total funds £ |
|---|---|---|
| 255,012 | ||
| 76,703 682,354 |
||
| 759,057 |
continued...
Page 8
LIVING LIGHT CHRISTIAN CHURCH, TAUNTON
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
| 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accrued expenses 9. MOVEMENT IN FUNDS At 1/1/21 £ Unrestricted funds General fund 759,057 TOTAL FUNDS 759,057 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 301,122 Restricted funds Restricted fund 23,918 TOTAL FUNDS 325,040 Comparatives for movement in funds At 1/1/20 £ Unrestricted funds General fund 682,354 TOTAL FUNDS 682,354 |
31/12/21 31/12/20 £ £ 10,173 - 2,666 2,952 12,839 2,952 Net movement At in funds 31/12/21 £ £ (54,152) 704,905 (54,152) 704,905 Resources Movement expended in funds £ £ (355,274) (54,152) (23,918) - (379,192) (54,152) Net movement At in funds 31/12/20 £ £ 76,703 759,057 76,703 759,057 |
|---|---|
continued...
Page 9
LIVING LIGHT CHRISTIAN CHURCH, TAUNTON
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
Incoming resources £ 302,453 29,262 331,715 |
Resources Movement expended in funds £ £ (225,750) 76,703 (29,262) - (255,012) 76,703 |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/1/20 £ 682,354 682,354 |
Net movement in funds £ 22,551 22,551 |
At 31/12/21 £ 704,905 |
|---|---|---|---|
| 704,905 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
Incoming resources £ 603,575 53,180 656,755 |
Resources Movement expended in funds £ £ (581,024) 22,551 (53,180) - (634,204) 22,551 |
|---|---|---|
continued...
Page 10
LIVING LIGHT CHRISTIAN CHURCH, TAUNTON
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST DECEMBER 2021
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2021.
Page 11
LIVING LIGHT CHRISTIAN CHURCH, TAUNTON
| Detailed Statement of Financial Activities | ||
|---|---|---|
| FOR THE YEAR ENDED 31ST DECEMBER 2021 | ||
| 31/12/21 | 31/12/20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts tithes & offerings | 255,714 | 240,263 |
| Gift aid | 49,584 | 51,468 |
| 305,298 | 291,731 | |
| Investment income | ||
| Rents received | 19,722 | 39,984 |
| Deposit account interest | 20 | - |
| 19,742 | 39,984 | |
| Total incoming resources | 325,040 | 331,715 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Gifts tithes & offerings | 121,815 | 70,157 |
| Charitable activities | ||
| Honorarium & salaries | 41,201 | 32,712 |
| Office administration costs | 5,125 | 11,714 |
| Books, CDs & publications | 809 | 1,687 |
| Children's work | 1,043 | 1,039 |
| Church events | 2,971 | 446 |
| Evangelistic & outreach | 5,548 | 496 |
| Repairs renewals & cleaning | 67,343 | 26,667 |
| Rent of premises | 15,905 | 5,964 |
| Licences & subscriptions | 1,433 | 1,582 |
| Utilities & waste disposal | 24,420 | 12,098 |
| Travel & hospitality | 2,676 | 6,195 |
| Independent examiner's fees | 1,739 | 1,368 |
| Insurance | 4,391 | 4,028 |
| Freehold property | 6,301 | 6,301 |
| Fixtures and fittings | 789 | 1,051 |
| 181,694 | 113,348 | |
| Other | ||
| Trustees' salaries | 75,683 | 71,507 |
| Total resources expended | 379,192 | 255,012 |
| Net (expenditure)/income | (54,152) | 76,703 |
This page does not form part of the statutory financial statements
Page 12