2020-12-31-accounts - Livingstones Christian Centre Limited

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REGISTERED COMPANY NUMBER: 04202300 (England and Wales)
REGISTERED CHARITY NUMBER: 1112325

Report of the Trustees and

Unaudited Financial Statements
for the Year Ended 31 December 2020

for

Livingstones Christian Centre Limited

Bennewith 2018 Limited
t/a A J Bennewith & Co

3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU

Livingstones Christian Centre Limited

`Contents of the Financial Statements for the Year Ended 31 December 2020`

	`Page`
`Report of the Trustees`	`1 to 2`
`Independent Examiner's Report`	`3`
`Statement of Financial Activities`	`4`
`Balance Sheet`	`5 to 6`
`Notes to the Financial Statements`	`7 to 14`
`Detailed Statement of Financial Activities`	`15`

Livingstones Christian Centre Limited

`Report of the Trustees for the Year Ended 31 December 2020`

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31December2020.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

The charities objects are:

a) The advancement of the Christian faith by the provision of a resource of material and support;

b) to be a resource for individuals and churches in the area by:

i. The sale of such books, CD's, cassettes, gifts and other products which comply with above;

ii. Supplying material that will assist with Christian education;

iii. Serving the community by providing a place of care and support

`Public benefit`

The trustees have had due regard to the guidance on public benefit published by the Charity Commission.

`ACHIEVEMENT AND PERFORMANCE`

TheCharityprovidesChristianresources,gifts,artwork,craftsandcardstoencourageandprovide Christian
edificationtothecommunityinandaroundFleet.Thecharityusesitspremisestohostcommunityactivities that
support and provide care for those in the community of Fleet and Church Crookham.

2020wasayearofchallenges,thecharity,inconsultationwithitsmembers,decidedtochangetheconfiguration of
itsgroundfloorretailspacesothatitwasbetterabletosupportcommunityactivitieswithimprovedaccessto the
groundfloor.JustasmodificationswereabouttocommenceCovid-19hitandthecentrewasrequiredto close.
Modificationplanswere putonholdandthecharityneededto changeitsfocusto provideonlineand home-delivery
support for our users.  Books, cards and gifts were delivered by volunteers or were posted to our users.

Duringthis closureperiod,our staff were furloughedunderthe governmentfurloughscheme and the charity received
governmentsupportbecausewe had been instructedto close our retailactivities.Throughoutthis time, many of our
valued supporters and members continued to give faithfully to support our work for which we were very grateful.

The charity was briefly able to open in late November 2020 and had a surprisingly successful Christmas period.
Postyearendthecharityhasbeenabletocarryoutthemodificationsenvisagedforthegroundfloor,theimpact of
which will be reported  in our next annual review.

`FINANCIAL REVIEW`

The results for the year are as set out in the annexed Statement of Financial Activities.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

Theaffairsofthecompanyhavebeendirectedbyaboardofdirectors,whichmeetsregularlyforthispurpose. The
directors then delegate the day-to-day management to shop workers.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Company number`

04202300 (England and Wales)

`Registered Charity number`

Page 1

Livingstones Christian Centre Limited

`Report of the Trustees for the Year Ended 31 December 2020`

Registered office
277 Fleet Road
Fleet
Hampshire
GU51 3BT

`Trustees`

N C Stevenson
M Mabin
S Hannington
D Moll (resigned 18.11.20)
T Budd
T S Bateman
A McIlwaine (appointed 17.11.20)

`Company Secretary`

M J Fairbairn

`Independent Examiner`

A J Bennewith FCA, FCPA, FFA, FFTA, DChA, FRSA
Bennewith 2018 Limited
t/a A J Bennewith & Co
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................
N C Stevenson - Trustee

Page 2

`Independent Examiner's Report to the Trustees of Livingstones Christian Centre Limited`

`Independent examiner's report to the trustees of Livingstones Christian Centre Limited ('the Company')`

IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 December 2020.

`Responsibilities and basis of report`

As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfiedmyself that the accountsof the Companyare not requiredto be auditedunder Part 16 of the 2006  Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutundersection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:

1. 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

3. 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

4. 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)).

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

A J Bennewith FCA, FCPA, FFA, FFTA, DChA, FRSA
Bennewith 2018 Limited

t/a A J Bennewith & Co
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU

Date: .............................................

Page 3

Livingstones Christian Centre Limited

`Statement of Financial Activities`

`for the Year Ended 31 December 2020`

`Unrestricted` `Revaluation` `fund` `Reserve` `Notes` `£` `£` `INCOME AND ENDOWMENTS` `FROM` `Donations and legacies` `27,606` `-` `Other trading activities` `2` `25,445` `-` `Investment income` `3` `1` `-` `Total` `53,052` `-` `EXPENDITURE ON` `Charitable activities` `4` `Direct charitable expenditure` `58,092` `3,473` `NET INCOME/(EXPENDITURE)` `(5,040)` `(3,473)` `RECONCILIATION OF FUNDS` `Total funds brought forward` `282,918` `159,783` `TOTAL FUNDS CARRIED` `FORWARD` `277,878` `156,310`	`Restricted` `funds` `£` `764` `-` `-` `764` `-` `764` `964` `1,728`	`31.12.20` `31.12.19` `Total` `Total` `funds` `funds` `£` `£` `28,370` `16,897` `25,445` `56,294` `1` `3` `53,816` `73,194` `61,565` `89,367` `(7,749)` `(16,173)` `443,665` `459,838` `435,916` `443,665`

The notes form part of these financial statements

Page 4

Livingstones Christian Centre Limited

`Balance Sheet`

`31 December 2020`

`Unrestricted` `Revaluation` `fund` `Reserve` `Notes` `£` `£` `FIXED ASSETS` `Tangible assets` `9` `255,234` `156,310` `CURRENT ASSETS` `Stocks` `10` `11,969` `-` `Debtors` `11` `988` `-` `Prepayments and accrued` `income` `1,202` `-` `Cash at bank and in hand` `10,635` `-` `24,794` `-` `CREDITORS` `Amounts falling due within one` `year` `12` `(2,150)` `-` `NET CURRENT ASSETS` `22,644` `-` `TOTAL ASSETS LESS CURRENT` `LIABILITIES` `277,878` `156,310` `NET ASSETS` `277,878` `156,310` `FUNDS` `13` `Unrestricted funds:` `General Fund` `Revaluation Reserve` `Restricted funds` `TOTAL FUNDS`	`Restricted` `funds` `£` `-` `-` `-` `-` `1,728` `1,728` `-` `1,728` `1,728` `1,728`	`31.12.20` `Total` `funds` `£` `411,544` `11,969` `988` `1,202` `12,363` `26,522` `(2,150)` `24,372` `435,916` `435,916` `277,878` `156,310` `434,188` `1,728` `435,916`	`31.12.19` `Total` `funds` `£` `419,024` `16,909` `1,519` `1,282` `8,962` `28,672` `(4,031)` `24,641` `443,665` `443,665` `282,918` `159,783` `442,701` `964` `443,665`

The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 31 December 2020.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 December 2020 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 notes form part of these financial statements

continued...

Page 5

Livingstones Christian Centre Limited

`Balance Sheet - continued 31 December 2020`

Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:

.............................................

N C Stevenson - Trustee

The notes form part of these financial statements

Page 6

Livingstones Christian Centre Limited

`Notes to the Financial Statements for the Year Ended 31 December 2020`

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
CompaniesAct2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention, as
modified by the revaluation of certain assets.

`Income`

All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.

`Tangible fixed assets`

Depreciationis providedat the followingannualrates in orderto write off each asset over its estimated useful
life.

Freehold property- 2% on cost
Fixtures and fittings- 20% on reducing balance
Kitchen Equipment- 25% on reducing balance
Computer equipment- 50% on reducing balance

Depreciationofanassetbeginswhenitisbroughtintouse.Thelandelementoffreeholdpropertyis not
depreciated.

`Stocks`

Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete and
slow moving items.

`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.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.

continued...

Page 7

Livingstones Christian Centre Limited

`Notes to the Financial Statements - continued`

`for the Year Ended 31 December 2020`

`2. OTHER TRADING ACTIVITIES`

`2.`	`OTHER TRADING ACTIVITIES`
		`31.12.20`	`31.12.19`
		`£`	`£`
	`Shop income`	`25,332`	`54,963`
	`Rental income`	`-`	`527`
	`Art commission`	`113`	`734`
	`Event income`	`-`	`70`
		`25,445`	`56,294`
`3.`	`INVESTMENT INCOME`
		`31.12.20`	`31.12.19`
		`£`	`£`
	`Deposit account interest`	`1`	`3`
`4.`	`CHARITABLE ACTIVITIES COSTS`
			`Direct`
			`Costs`
			`£`
	`Direct charitable expenditure`		`61,565`

`5. NET INCOME/(EXPENDITURE)`

Net income/(expenditure) is stated after charging/(crediting):

	`31.12.20`	`31.12.19`
	`£`	`£`
`Depreciation - owned assets`	`7,480`	`7,678`
`Independent Examiner's fee for accountancy services`	`900`	`1,150`
`Independent Examiner's fee for examination`	`400`	`400`
`Amount of shop stock recognised as an expense`	`21,189`	`35,711`
`Grants received: from central and local government`	`(13,657)`	`-`
`Grants received: other`	`(350)`	`-`

`6. TRUSTEES' REMUNERATION AND BENEFITS`

There were no trustees'remunerationor other benefitsfor the year ended 31 December 2020 nor for the year
ended 31 December 2019.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended31December2020norfortheyear ended
31 December 2019.

continued...

Page 8

Livingstones Christian Centre Limited

`Notes to the Financial Statements - continued`

`for the Year Ended 31 December 2020`

`7. STAFF COSTS`

The average monthly number of employees during the year was as follows:

	`31.12.20`	`31.12.19`
`Managers`	`1`	`2`
`Secretary`	`1`	`1`
`Saturday sales assistants`	`-`	`2`
	`2`	`5`

No employees received emoluments in excess of £60,000.

None of the staff is full time. In addition to the 2 part-time staff, there are a number of volunteers.

Staff costs are analysed as follows:

	`2020`	`2019`
	`£`	`£`
`Gross wages`	`18,401`	`32,718`
`Employer's National Insurance`	`-`	`-`
`Pension costs`	`152`	`514`

	`£18,553`	`£33,232`

`8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

`Unrestricted` `Revaluation` `fund` `Reserve` `£` `£` `INCOME AND ENDOWMENTS FROM` `Donations and legacies` `15,933` `-` `Other trading activities` `56,294` `-` `Investment income` `3` `-` `Total` `72,230` `-` `EXPENDITURE ON` `Charitable activities` `Direct charitable expenditure` `85,894` `3,473` `NET INCOME/(EXPENDITURE)` `(13,664)` `(3,473)` `RECONCILIATION OF FUNDS` `Total funds brought forward` `296,582` `163,256` `TOTAL FUNDS CARRIED FORWARD` `282,918` `159,783`	`Restricted` `funds` `£` `964` `-` `-` `964` `-` `964` `-` `964`	`Total` `funds` `£` `16,897` `56,294` `3`
		`73,194` `89,367`
		`(16,173)` `459,838`
		`443,665`

continued...

Page 9

Livingstones Christian Centre Limited

`Notes to the Financial Statements - continued`

`for the Year Ended 31 December 2020`

`9. TANGIBLE FIXED ASSETS`

`COST` `At 1 January 2020 and 31 December 2020` `DEPRECIATION` `At 1 January 2020` `Charge for year` `At 31 December 2020` `NET BOOK VALUE` `At 31 December 2020` `At 31 December 2019` `COST` `At 1 January 2020 and 31 December 2020` `DEPRECIATION` `At 1 January 2020` `Charge for year` `At 31 December 2020` `NET BOOK VALUE` `At 31 December 2020` `At 31 December 2019`	`Freehold` `property` `£` `442,957` `24,318` `7,359` `31,677` `411,280` `418,639` `Kitchen` `Equipment` `£` `820` `820` `-` `820` `-` `-`	`Office` `equipment` `£` `1,194` `1,048` `73` `1,121` `73` `146` `Computer` `equipment` `£` `705` `705` `-` `705` `-` `-`	`Fixtures` `and` `fittings` `£` `3,548`
			`3,309` `48`
			`3,357`
			`191`
			`239`
			`Totals` `£` `449,224`
			`30,200` `7,480`
			`37,680`
			`411,544`
			`419,024`

Thefreeholdpropertywasrevaluedin2016basedonanindependentvaluationbyHurstWarne Chartered
Surveyors.

The net bookvalue for freeholdlandand buildingswhichwouldhave been recognisedat 31 December2020 if
the property had been carried at historical cost is £254,973 (2019: £258,859).

continued...

Page 10

Livingstones Christian Centre Limited

`Notes to the Financial Statements - continued for the Year Ended 31 December 2020`

`10.` `STOCKS` `Finished goods` `11.` `DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Trade debtors` `Other debtors` `VAT` `12.` `CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Trade creditors` `VAT` `Accrued expenses` `13.` `MOVEMENT IN FUNDS` `Unrestricted funds` `General Fund` `Revaluation Reserve` `Restricted funds` `Reserve Fund` `TOTAL FUNDS`	`At 1.1.20` `£` `282,918` `159,783` `442,701` `964` `443,665`	`31.12.20` `£` `11,969` `31.12.20` `£` `4` `823` `161` `988` `31.12.20` `£` `850` `-` `1,300` `2,150` `Net` `movement` `in funds` `£` `(5,040)` `(3,473)` `(8,513)` `764` `(7,749)`	`31.12.19` `£` `16,909` `31.12.19` `£` `551` `968` `-` `1,519` `31.12.19` `£` `2,555` `132` `1,344` `4,031` `At` `31.12.20` `£` `277,878` `156,310`
			`434,188` `1,728`
			`435,916`

continued...

Page 11

Livingstones Christian Centre Limited

`Notes to the Financial Statements - continued`

`for the Year Ended 31 December 2020`

`13. MOVEMENT IN FUNDS - continued`

Net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General Fund
53,052
Revaluation Reserve
-
53,052
Restricted funds
Reserve Fund
764
TOTAL FUNDS
53,816
Comparatives for movement in funds
At 1.1.19
£
Unrestricted funds
General Fund
296,582
Revaluation Reserve
163,256
459,838
Restricted funds
Reserve Fund
-
TOTAL FUNDS
459,838
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General Fund
72,230
Revaluation Reserve
-
72,230
Restricted funds
Reserve Fund
964
TOTAL FUNDS
73,194 Resources
Movement
expended
in funds
£
£
(58,092)
(5,040)
(3,473)
(3,473)
(61,565)
(8,513)
-
764
(61,565)
(7,749)
Net
movement
At
in funds
31.12.19
£
£
(13,664)
282,918
(3,473)
159,783
(17,137)
442,701
964
964
(16,173)
443,665
Resources
Movement
expended
in funds
£
£
(85,894)
(13,664)
(3,473)
(3,473)
(89,367)
(17,137)
-
964
(89,367)
(16,173)

continued...

Page 12

Livingstones Christian Centre Limited

`Notes to the Financial Statements - continued`

`for the Year Ended 31 December 2020`

`13. MOVEMENT IN FUNDS - continued`

A current year 12 months and prior year 12 months combined position is as follows:

`Unrestricted funds` `General Fund` `Revaluation Reserve` `Restricted funds` `Reserve Fund` `TOTAL FUNDS`	`At 1.1.19` `£` `296,582` `163,256` `459,838` `-` `459,838`	`Net` `movement` `in funds` `£` `(18,704)` `(6,946)` `(25,650)` `1,728` `(23,922)`	`At` `31.12.20` `£` `277,878` `156,310`
			`434,188` `1,728`
			`435,916`

A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General Fund`	`125,282`	`(143,986)`	`(18,704)`
`Revaluation Reserve`	`-`	`(6,946)`	`(6,946)`
	`125,282`	`(150,932)`	`(25,650)`
`Restricted funds`
`Reserve Fund`	`1,728`	`-`	`1,728`
`TOTAL FUNDS`	`127,010`	`(150,932)`	`(23,922)`

`General Funds`

These funds are available for the general purposes of the charity.

`Revaluation Reserve`

The RevaluationReserve arose on the revaluationof the charity'sfreeholdpropertyin 2016. The property had
previouslybeenstatedatcost,andtheincreaseinitsvalueuponrevaluationisshowninthe Revaluation
Reserve.

`Reserve Fund`

The Reserve Fund was set up to cover any unforeseen costs which may occur.

continued...

Page 13

Livingstones Christian Centre Limited

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

`14. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 31 December 2020.

Page 14

Livingstones Christian Centre Limited

`Detailed Statement of Financial Activities`
`for the Year Ended 31 December 2020`
	`31.12.20`	`31.12.19`
	`£`	`£`
`INCOME AND ENDOWMENTS`
`Donations and legacies`
`Gifts`	`14,363`	`16,897`
`Grants`	`14,007`	`-`
	`28,370`	`16,897`
`Other trading activities`
`Shop income`	`25,332`	`54,963`
`Rental income`	`-`	`527`
`Art commission`	`113`	`734`
`Event income`	`-`	`70`
	`25,445`	`56,294`
`Investment income`
`Deposit account interest`	`1`	`3`
`Total incoming resources`	`53,816`	`73,194`
`EXPENDITURE`
`Charitable activities`
`Staff costs`	`18,553`	`33,232`
`Rates and water`	`465`	`1,210`
`Cost of sales`	`21,258`	`35,711`
`Light and heat`	`1,903`	`2,285`
`Sundries`	`70`	`-`
`Office expenses`	`735`	`1,903`
`Post, printing, stationery & computer costs`	`776`	`1,637`
`Premises expenses`	`8,339`	`2,821`
`Professional fees`	`-`	`550`
`Telephone`	`607`	`574`
`Bank charges & interest`	`80`	`87`
`Accountancy`	`1,300`	`1,550`
`Staff training`	`-`	`130`
`Depreciation of tangible fixed assets`	`7,479`	`7,677`
	`61,565`	`89,367`
`Total resources expended`	`61,565`	`89,367`
`Net expenditure`	`(7,749)`	`(16,173)`

This page does not form part of the statutory financial statements

Page 15