FAITH LIFE CHURCH CAMBRIDGE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024 CONTENTS AND CtTy INFORMATtON CONTENTS: PAGB.. Trustoes Atmual Report ndependent Exgjniners Report Statement of Fu1claI Activities Balance Sheet Statement of C&h Flows Notss to the Financial Statements 8- 11 TRUSTEES: Mark Baines Sherryll Anne BaiJ]es Roger.Bostock Paul Haworth PRINCIPAL ADDRESS: Arbor Grange Babrabam Road Cainbridge CB22 3AY CHARITY NUMBER,. 1114208 DEPENDENT EXAMINER., lan W Shipley FCCA For and on behalf OF. Prentis & Co LLP Chartered Accountant5 & Independent kniners 115c Milton Road Cambridge CB4 IXE
FAITH LIFE CHURCH CAfrfBRtDGE PAGE I FINANCJAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024 TRUSTEES ANNUAL REPORT The Trustee8 present their report aud fanCIal staterntrnts for Faith Life Church Catnbridge (the TTUSt ) for the y¢ar ended 30th April 2024. The fmancial statsments have been prepared in accordance with the accounting policies set out in note I to the fmallcial statements and comply with the charity's trust dee(L the Clwities Act 2011 and Accounting and Reporting by Charities.. Stat¢inent of Recommended Practice applicable to charities preparing their fmancial statements in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (eff¢ctive 1st January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT GOVERNtNG DOCUMENT AND APPOtNTMENT OF TRUSTEBS The Charity formed under a constitution dated 27th March 2006 adopted by the founding trustees. The Charity wa5 registered by the Charity Commissioners on 27th March 2006. Faith Life ChuTGb Cambridge 18 constituted under a Trust Deed and Trustses are appointed in accordallce with that Deed. The Trustees keep under revi¢w the 8kill requirements of the Charity. They ensure that in the event of a Trustee pern]anently retiring or additional Trustees are needed that potential Trustees will be able to contributs towards achieving the Charity's objectives, Tb¢ ultimate decision on selection of a new Tnjstse is a matter foT tho current Trustees. THE CHAIIITY'S MAIN OBJECTIVES To advance Christianity in Cambridgeshire and elsewhere, by any means or medium tbat is or may become available, i accordance with the st&tement of doctrine set out ill the 5cbedule of the supplemental declarasion of trust dated 27th March 2006. •To r¢lieve povety and those who are.in need-because of.5ickness or"age"or some other charitablv need. •To advallce education both general and vocational for chilthen or adults, but always withill the principles of the Christian Faith. ORGANISATION The C]writy is run by the Trustees who have regular meetings to consider direction and to address fLnancial management. The day to day duties are carried out by the Senior Leader and the staff tsojn assisted by volLmteers from within the Charity. The sgnior leader reports directly to the Trust¢es. RISK MANAGEIWENT The Trustees are pleased to be Ftble to report that in their view, there arc few areas of financial risk facing the Trust. Any that may aris¢ ¢an, in their opinion, be adequately provided for by maintaining a strategic Teserve that would allow the Trust to operate without intemiption for 3 months, on the basis of current expenditure patterns, even if income were to cease entirely. Such an ev¢ntuality must be considered as an extreme scenario and in reality, even a significant reduction in income would allow the Trnst to Continue for longer than dwt as it sought to evaluate the impact of the changed situation. In additio the Trustees havo carefully reviewed tbe Trusvs insurance needs and hav¢ put in place policies to cover public liability, injury to church worlcers and loss or damage to and from various properties used by F&ith Life Church ID the furtberance of its a¢tivitie5. OBJECTtVES, ACTtVlTIES AND PUBLIC BEKEFIT The Trust's objectives are the advance]llent of Christiallity in Cambridgeshire 8nd elsewhere. n)atnly through the regulaT worship, prayer and Éeaching me¢tings of Faith Life ChurL,h Cambridge, These meetings were both 'all-churoh' ill nature and also ag6 or ggnder specific, as appropriate, and were dcsign¢d to further Cbristian discipleship. The tnain activities of the Church in seeking to thlfil these objeetives are focLssed on our regular weekly meeting5. Both on Sundays and Jnid-we¢k. These meetings have grown in attendance numbers throughout the perio(L The Truslees have referred to tbe guidance colltained in the Charity Conllnission's general guidance on public benefit when reviewing our aim objectives and in planning our tUre activities.
FAITFI LIFE CHURCH CAMBRIDGE PAGE 2 FINANCIAL STA TEMENTS FOR THE YEAR ENDED 30TH APRIL 2024 TRUSTEES ANNUAL REPORT oontinucd ACHIEVEMENTS AND PERFORMANCE During the year Faith Life Chw'ch received a steady stream of income. This enabled the cIlty to fulfil its objectives for the y¢ar. The charity is hugely grateful for the ongoing support generous givillg of the church members. The churoh has continued to invest in developing the staff team. During the year & now 'discipleship p8stor' was added to the team and this has enabled the chwrh to review and increase its focus on'discipleship, across the church. OUT network of churches called'Faith and Life, which is V4 group of autonomous churches who look to U5 for relationsbip and entoring support continues to thrive. Ill the UK we connect with churches in Croydon and Kendal as well a8 a small online group in Nonvich. Overseas we connect with two churches in the NetheTlaTrds,' and provide diTert support and mentoring to our churches and outreathes in Bulgaria amongst the Gypsy ¢ommunity, Orphanages and Uluainian regee bousing and feeding programm¢, Faitb Life Church is itself a member of the Harv¢st Alliance gTOUP of churches and ministries. KEY PERSONNEL AND PAY POLICY The Trustees con8ider the Board of Trustees to be the key management personnel of the charity in charge of diIecting and controlling the Lharity on a day to day basis. All TrLtstees give their time fr¢oly no Trustees remuneration or expenses were paid in the year, ex¢ttpt as disclosed in note 4 of the fall¢la1 statements. FINANCIAL REVIEW Incon]e gxceeded expenditure in the year by £44,833 (2023.. £23,261), which the Trustees consid¢r satisfactory, The Trustees hav¢ beglm to look ahead to longer tenn succession planning for the leadership ot the church and nLinisty. Whilst this does not signal any immediate chang¢5, they are seeking to build reserves in order to finance a smooth transition at some future point. RESERVES POLICY I'he Trust holds no investments and its reserves consist solely of its current account and value of assets held, restricted funds alld unrestricted fidS the trustees are free to use in accordance with the ¢haritabl¢ objects. At the year end the total level of the reserves were £284,953 (2023.. £240,120). POLICIES The Trusvs principal source of fLmds is in the forrn of tithes and offerings from the members md friends of FaÉth Life Church Cambridge. The Trust r(kn donations and grants in line witb SLriptural principles and consistent with its main objectives. PLANS FOR FufuRE PERIODS Th¢ Trnstees anticipate tbe continued fiuithlne5s of Foith Lifg Church in all its tIvItIes. The excellent Working relationship witb other congregations in the immediate geogrdphical area continues to lead to participation in a nnber ofjoint activities and it is envisaged that flffther collaboration will take place for the benefit of those COngatiOnS and for the benefit of tho wider connnunities that they serve. The church sees many opportlmities to help those in the TrupingtOTr Conununity around the Ghur¢h' and is looking at ways to provide additiollal help and cncouragernent to those who live close to the church. This year we continued'Get Messy, craft and activities for kids in the local Gommlmity centre and we were encoLtraged by 55 children and their parents attending the first morning. We plan to continue this activity in the coming year,
FAITH. Llbl3 CHURCIq CAMBRIDfjE PAGE 3 FNANCIAL STATEMENTS FI)R TFIE YE'AR ENDED 30 fH APRIL 2024 TRUSTBES ANNIIAL REPORT continued TRUSTFF,S' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The rlYdrity'8 Trllgtees are responsible for pi'ep8ring a Trustees, Jnnual r¢porÈ and fOla] statements in ac¢ordan¢e with applitt4ble law and Ullited Kingdom Aecounting Standards (United Kingdom GeDerolly Accepted AOltIng Practico), The law 8ppli¢able to charities in England and Wules requires the charity's Tru5teo8 lo prewe financial statements for e&¢h year wbich give a lrne alld fair vi¢w of th¢ stat¢ of affall's of the charlty and the incomlng re80urc¢s and ApplitIOn of r¢sour¢e8. of th¢ ¢harity for that period. In preparing the fu]ancial statem8nts. the TNstees ai8 required to: seloct suitable a¢couoting policies and tb¢n apply th¢m COlst¢tIy) observe the methods and priticiples in the applxcable Chariti¢s SORP. ak¢ judgefftents and estimates ttlat are reasouable and prudenL' stste wh¢thor éwlicable accoutttlllg 81andardy have b¢eD follow¢d, wbj¢ct to ally material departur¢8 that mLlSt be disclosed and explained in the fin¢SaI stslements. pr¢pare the fjnancial gtatements on a goin8 ¢1)ncern basis unless it is inappropriats to presume that die ¢lwity Loniinve in operation. The Trustees respuJL8iblE for k¢eping proper Quting ircords which di5Glosc with reasonable a¢¢uracy at any thne the fEnanci&l position of the charity and to ellable them to ensure that the financial statsments comply with the Ch111£% Act 2011, the applicable Ch8Tits65 (Accounts and Reports) Regulations and tlie provisioi)s of the Trust Deed. They arc also responsible for safrLiuaTding the assets of the Charity and taking reasonable stsps for the prevention ahd dete¢tion of fraud and other 3rregularities. APPROVAL This report was approved by the Board of Tru8t¢8s and signed on its b¢h&lf. M Bainos - Tte¢ and Chttitmaa Dated.......
FAITH LIFE CHURCH CAMBRIDGE PAGE 4 FINANCIAL STA TEMEWFS FOR THE YEAR ENDEI) 30TH APRIL 2024 rNDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE FAITH LIFE CHURCH CAMBRIDGE I report to the trustees on my examination of the accounts of Faith Lifr Church for the year ended 30th April 2024. BSPONsIBILITIEs AND BASIS OF REPORT As the Gharitys trustees of the Trust your are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act). I report in respect of my examination of the Trusts accounts CWTied out under section 145 of the 201 l Act and in Carrying out my exnInatiOll I have followed all the appli¢able DiTections given by the ChaTty Commission under section 145(5)(b) of the Act, INDEPENDENT EXAMINER'S STATEMENT I have completed my exatnination. I COE)firm that no rnaterial matter8 bave come to my attention in connection with the examination giving Gause to believe that in any mat¢rial respect: l. CoUntIng records were not kept in respect of the Trust as required by section 130 of the Act. or 2. the accounts do not accord with those recoTds' or 3. the accounts do not conwly with the applicable requirements concerning ttje fonll 8nd contsnt of a¢¢ountS 8et Dut in the Charities (Accounts and Reports) Regulalions 2008 other than any Tequirement that the accounts give a 'true and fair, view which is not a rllatter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to whicb attention should be druwn in this report in order to enable a proper understanding of the accounts to be reached. IAN W SHIPLEY fccA FOR AND ON BEHALF OF. PRENTIS & CO LLP CHARTERED ACCOUNTANTS & INDEPENDENT ELIMINERS 115c Milton Road c.ambridge CB4 IXE
FAITH LIFE CHURCH CAMBRtDGE PAGE 5 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024 INCOME AND EXPENDITURE ACCOLfNT 2024 2024 Unrestricted Restt'icted Funds Funds 2023 2023 2024 Unrestricted Restricted 'rotal Fullds Funds Notes 2023 Total INCOME Incojne from generated funds: Volulltary Ineome: Donation5 and off¢rings Total Incorne 193,759 4,192 4,192 197,951 197,951 180,843 180,843 180,843 193,759 I80,843 EXPENDfTuRE Cost5 of ralslllg funds: Conference hosting Cbarilable activitles: Travel and motor Refreshtnents and food Pastoral and Ministy Costs Rent Light and heat tnsurance Network cost Web desi and hosting Mission cost8 and gifts Youth camp Telephone Printing. stationery and advertising Kids Work costs Other Legal and professional Speakers gifts and sub8lStence Publicity, flyers and outreach Conferencesltraining Resourcelsundry expense% Repairs Poor relief Bank charges Deprecialion Independent examineTS fees Office 736 736 1,191 1,191 2,404 4,103 86,404 15,693 3,469 899 4,274 3,370 630 98 I,310 459 970 1,682 1,541 1,618 1,981 5,032 1,012 1,325 20 1,227 4.878 968 2.823 2,404 4,103 86,404 15,693 3,469 899 4.274 3,370 4,822 98 1,310 459 970 1.682 1,541 1,618 1,981 5,032 1,012 1,325 20 1,227 4,878 968 2,823 2,058 2,828 91,802 15.274 2,521 523 4,969 2,604 9,014 34 845 1,170 671 1,932 2,300 800 546 3,065 596 2,588 1,150 1,007 4,486 896 2,712 2,058 2,828 91,802 15,274 2,521 523 4,969 2,604 9,014 34 845 1,170 671 1,932 2,300 800 546 3,065 596 2,588 1,150 1,007 4,486 896 2,712 4,192 Total Expenditure 148,926 4,192 153,118 157,582 157,582 NeÉ movement in funds for the year TraD%fers between funds Total funds brought forward Total funds carried forward 44,833 44.833 23,261 7,200 207,655 23,261 (7,200) 9,204 238,116 2,004 240,120 284.953 216,859 240,120 282,949 2,004 238,116 2,004 The notes on page5 8 to l I fonn part of these fmancial statementg.
FAITH LIF"F, CHURC.H CAMBRIDQE PAGE 6 INANCIAL STAI"BMBNTS FOR THE YEAR ENDED 30T.H APIUL 2024 BALANCE SHBLT Notss 2024 2023 FIXED ASSETS Tangibl¢ assets 9,818 8,802 CUJiRENT ASSETS Debtors Cttsb at ballk 78,544 197,559 276,103 75,912 1%6,286 232,198 CREDITORS: Amounts falling due within one year 968 880 Net Current As5¢ts 275,135 284,953 231,318 NET ASSETS: 240,120 Ro8trl¢ted thnds Unrestrictsd funds 2,004 282,949 2,OQ4 238,116 TOTAL FifNDS 284,953 240,120 For and ¢)n behalf of the trustees. M BAIFIES TRUSTEE AND CHAIRMAN Dutsd... Is1 The notes oil pages 8 to l I form part of tbe8e financial stat¢ments.
FAITH..LIFE CHURCH CAMBRIDGE PAGE 7 FANCIAL STATEh(BNTS FOR THE YEAR ENDED 30TH APRIL 2024 STATEMENT OF CASH FLOWS 2024 Total 2023 Total Note Net cash used in operating activiti io 47,167 24,247 Cash flows from investlng aetivlties Fixed assets additions (5,894) (5,894) (9,889) (9,889) Net cash provided by iDvestiDg aeÉlvlties Change cash and cgsh equivalent In the year Cash and cash equlvalellts at the begiDnillg of the reporting perlod Cash aRd cash equivaIents at tbe end of tbe reportin¥ period 41,273 14,358 156,286 141,928 10 197,559 156.286
FAITH LIFE CHURCH CAMBRIDGE PAGE 8 FANCIAL STATEMENTS FOR THE YEAR BNDBD 30TH APRIL 2024 NOTES TO THE FANCIAL STATEMENTS ACCOUNTING POLICIES (a) BASIS OF PREPARATION OF FANCIAL STATEMENTS The fJnan¢ial statements have been prepared under the historical cost convention with items recognised at cost or trallsaction value unless otherwise stated in the relevmt noteg to these f]nancial statements. The financial statements have been prepared in accordance with tbe Statement of ReGon]mended Practice.. Accounting and Reporting by Charities Preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (¢ffcctive 1st January 2019) and the Charities Act 2011. (b) fNcoME RECOGNITION All income and grants are now reCol$ed in the statement of fJtLancial activities when the conditions foT receipt have been met and there is reasonable assurance of receipt. Wbere a claim for repaynent of income tax has or will be made, such income is grossed up for the tax recoverdble, The following accounting policies are applied to income.. (c) DONATIONS Donations and all other CeiptS from fundTaising are Teported gross. (d) VALUE ADDED TAX Value added tsx is not recoverable by the Cl]arity, and as such is included in the relevant costs ill the Statement of Financial Activities. (e) EXPENDITURE RECOGNITION All expenditure is accoutLted for on an accruals basis. Cost of raising funds are costs associated with tllanaging investments. Charitable expenditure comprises those costs incurred by the Cbarity in the delivery of its activities and services to beneficiaries. Governance costs include costs asswiated with Lneetillg the ronstitutional and statutory requiretnents of the Charity. (fj TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible fixed &ssets are stated at Cost less depreciation. Depreciatton is provided on all tangible fixed assets at rates calculated to write-off the wsts less estirnated residual value of each asset evenly over their expected usefyl ]ives as follows.. Equipmgnt - 25D/o straight line basis Depreciation is not charged on freehold propety as it is kept in good repair that prolongs its usgfill life. (g) FUND ACCOUNTING Unrestricted funds are general funds that are available for use at the trustees, discretion in filltherance of the objectives of the Charity. Restricted fLdS are those donatsd for use in a particular area or for specific Plwposes, tbe use of which is restricted to that area OT piirpose. TAXATION The Church is a reered charity and accordingly is exernpt from tsxation on it's income and gains where they are applied for dlaritable purposes,
FAITH LIFE CHURCH CAMBRtDGE PAGE 9 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024 NOTES TO THE FANCIAL STATEMENTS TANGIBLE FIXED ASSETS YEAR ENDED 30TH APRIL 2024 COST Balance at 1st May 2023 Addition3 Equipment 57,292 5,894 Balance at 30th April 2024 DEPRECIA TION Balance at I st May 2023 Charge for tbe year Balance at 30th April 2024 NET BOOK VALUE AT 30th April 2024 63,186 48,490 4,878 53,368 9,818 TANGIBLE FIXED ASSETS YEAR ENDED 30TH APRIL 2023 COST Balance at 1st May 2022 Additions Disposals Balance at 30th April 2023 DEPRECIATION Balance at 1st May 2022 Charge for the year Elininatsd on disposal Balance at 30th April 2023 NET BOOK VALUE AT 30th April 2023 Equipment 61,882 9,889 (14.479) 57.292 58,483 4,486 (14.479) 48,490 8,802 TRUSTEE REMUNERATION AND EXPENSES The Trust considers its key peisonnel to be the Trustees. A Trustee received remuneration in the year of £45,840 (2023: £46,200). They were reimbursed for ¢xpenses totalling £470 (2023.. £1,304). DEB TORS 2024 2023 Due within Duo within one year one year Prepa)Inents Accrued income Other debtors 4,070 74,109 365 3,850 72,062 78,544 75,912 CREDITORS 2024 2023 Due within Due within one year one year Ac¢ru&ls 968 880
FAITH LIFE CHURCH CAMBRtDGE PAGE 10 FINANCIAL ST ATBMwfs FOR THE YBAR ENDED 30TH APRIL 2024 NOTES TO THE FINANCIAL STATEMENrs RESTRICTBD FUNDS YEAR ENDED 30TH APRIL 2024 Balance at Istmay 2023 Balance at TTall5fer of 30th April Funds 2024 Income Expenditure Building Fund Work in Bulgaria 2,004 2,004 4,192 4,192 (4,192) (4,192) 2.004 2,004 RESTRICTED FUNDS YEAR ENDED 30TH APRIL 2023 Balance at Istmay 2022 Balance at Transfer of 30th April Funds 2023 Inoome Expenditure Building Fund 9,204 (7,200) 2,004 UNRESTRICTED FUNDS YEAR BNDED 30TH APRIL 2024 Balanee at IstM3y 2023 Balance &t Trallsfer of 30th April Funds 2024 Income Expenditure General Funds 238,116 193,759 (148,926) 282,949 UNRESTRICTED FUNDS YEAR ENDED 30TH APRIL 2023 Balance at Istmay 2022 Balance at Trnnsfer of 30th April Funds 2023 come ExpenditUTe General Funds 207,655 180,843 (157,582) 7,2aO 238,116 ANALYSIS OF FtiNDS YEAR ENDED 30TH APRIL 2024 Tangible fixed assets Net current assets UnTBstricted Restricted Total 9,818 273,131 9.818 275,135 284,953 2,004 282,949 2,004 ANALYSIS OF FUNDS YEAR ENDED 30TH APRTL 2023 Tangible fix¢d assets Net ¢8nt assets Unrestricted Restricted Total 8,802 229,314 8,802 231,318 2,004 238,l16 2,004 240,120 io. RECONCILIATION OF NET fNIcoME TO NET CASH FLOW FROM OPERATtNG ACTIVITIES 2024 2023 Net n]ovements in fund Adjustrneuts for; Depreciation (Increase)Idecrease in d¢btors (Decrease)/illcrease in creditors Net Cash used in operating activities 44,833 23.261 4,878 4,486 {2,632) (3,580) 88 80 47,167 24,247 ANALYIS OF CASH AND CASH EQUIVALENTS 2024 2023 Cash &t bank 197,559 156,286
FAITH LIFE CHURCH CAMBRIDGE PAGE 11 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APIUL 2024 NOTES TO THE FINANCIAL STATEMENTS RELATED PARTY TRANSACTIONS A Trustee was reimbursed £11,988 (2023., £11,160) foT TenL Rent was ¢haTged at be.low market rate.