REGISTERED COMPANY NUMBER: 06323688 (England and Wales) REGISTERED CHARITY NUMBER: 1122435
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
Lifespring Ministries
Altus Business Consulting Chartered Accountants 88-89 High Street Wordsley Stourbridge West Midlands DY8 5SB
Lifespring Ministries
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 to 8 |
| Balance Sheet | 9 to 10 |
| Notes to the Financial Statements | 11 to 21 |
| Detailed Statement of Financial Activities | 22 to 23 |
Lifespring Ministries
Report of the Trustees
for the Year Ended 31 March 2023
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 31 March 2023. 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
Objectives and aims
The principle objectives of the charity continue to be:
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The proclamation of the Gospel of God concerning his Son Jesus Christ or Lord and the preaching and teaching of the Christian faith
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The advancement of the Christian faith in any part of the world
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The relief of poverty and suffering in any part of the world
Public benefit
The charity trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
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Lifespring Ministries
for the Year Ended 31 March 2023
Report of the Trustees
CHARITY REVIEW
Introductory Comments
In contrast to last year and the slow recovery from the global effects of Covid 19, LifeSpring Ministries has experienced significant growth. We have seen many new families moving into the city of Wolverhampton from other countries, who have made LifeSpring Church their spiritual home. This has led to the expansion of our Open Arms ministry. This ministry caters for asylum seekers and newly arrived families to the UK. Due to the continued growth of our church, we have made the decision to re-develop our facility and have launch our Enlarge the House initiative.
This year we celebrated 25 years of LifeSpring ministries, this was a wonderful weekend where saw record numbers in our Sunday Service. We were also able to host a number of conferences, including, Re-claim 23 conference, The Father’s Heart Conference and Developing the Secret Place, a teaching seminar with John and Carol Arnott from Catch the Fire Ministries.
We were also able to re-launch the LifeSpring School of Ministry where we had 24 students enrolled. We ran two membership courses culminating with 44 new members added to the church and a baptism service with 28 Candidates. In relation to the struggling congregation referred to in last year’s report, we are pleased to report that the church is thriving and regularly have between 25 -50 people attending each week. The Ark Church in Sutton Coldfield has also seen significant growth and as a result have moved to two services, have out grown their current building and are looking for new premises.
LifeSpring Global
LifeSpring Global continues to enlarge as it explores a number of ministry opportunities both in the UK and overseas. The year saw mission and ministry trips to a number of nations including Mozambique, South Africa, India and Nepal where in each case we are developing relationships, training leaders and assisting with various projects.
Plans were also put into place to reinstate the annual Reclaim conference and LifeSpring School of Ministry. The monthly ministry newsletter continues to grow and in order to enable all these developments a part time staff member was deployed to handle administration.
In the Midlands region of the UK the works in Burntwood and Sutton Coldfield continued to grow and along with our overseas pastors, we hosted several global zoom meetings. The Global financial partnerships also grew with new people contributing on a monthly basis.
We anticipate that soon we shall be able to plant a further church into the region and expand into more nations.
Small Wonders Stay and Play Group
We have had a busy & exciting year at Small Wonders. We have seen over 280 families at Small Wonders. We have run 75 sessions over 12 months with a total cumulative attendance of over 10,000 adults & children through our door in that time. We have an average attendance each Friday of 275 people.
Christmas is a really busy time at Small Wonders with 161 Small Wonders children visiting Santa. We still have a very long waiting list with people waiting up to 12 months for a place.
We have welcomed 11 new babies, said goodbye to 42 Small Wonders who have left to go to school or school nursery. We have gifted 115 bunches of flowers to encourage and celebrate parents/ carers & volunteers. We have served nearly 10,000 pieces of cake!
One of our Small Wonders values is building community & we love to raise money for other charities. Parents nominated charities & voted for Children’s Cancer & Leukaemia Group to receive £350. One of our Small Wonders children was diagnosed with Leukaemia in 2020 so this felt like a really great way to show the family our love & support.
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Our annual event Africa Day celebrates African unity, and all the wonderful cultures that this amazing continent is home to. We had our very own Small Wonder jungle to play in, face painting & traditional African dress we raised £500 for Fathers House of Joy in Mozambique.
Our annual Empurple Day when everything turns purple for the day raised £479.33 for The Haven Wolverhampton. We raised awareness & much needed funds for this charity that provide both practical & emotional support services to women & children who are affected by domestic violence & homelessness in our city.
Children's Ministry
During the last year in Transformer Kids the number of children (aged 2-11 years) attending our weekly Sunday sessions has increased to around 70 each week. We continue to have new families each week. We have covered the following topics: Lazarus, the parables, gifts of the Spirit, the Easter Story, Christmas and Women in the Bible.
To facilitate the growth of our groups we have moved from three groups to four groups each week. Growing our team to staff these groups. The Sunday sessions are made up of games, small group times, crafts, bible teaching, creative projects, prayer and individual times of reflection. Over the year we have seen children grow in confidence and deepen their relationships with God and each other.
In the summer term we ran our first mid-week group, called Transformer Cadets, for children in years 5 & 6. Ten children attended for a six week course, over this time they bonded as a group and would share openly with each other their opinions and feelings. We are going to continue running this group each term as it was a great success and one of the highlights of the last year.
We have run successful family events including a “Let your light shine event” which included a family service and a light party, pancake fundraiser and Good Friday walk through. These events have enabled families to spend quality time together and grow their faith together. We feel it is important to facilitate times for family to have fun together while deepening their walk with God.
We ran our second summer holiday club in August, over 60 children attended for 3 days full of fun, games, crafts and learning about the love of God. The children had a wonderful time and many parents said it was the best club their children had ever been to and cannot wait to sign up for next year.
We have run “Powerful parenting” sessions, where we equipped parents to talk to their children about current issues with God at the centre. We want parents to be the ones who disciple their children and as a ministry it is our role to support them in this.
As we look ahead to the next year, we are working on ways to facilitate the growth that we are continuing to experience. We hosted a teddy bears picnic, celebrated our 10th birthday with a superhero themed party with a photo booth, held a family photo shoot, a huge Santa’s grotto & helped numerous families having a hard time. We continue to prioritise honouring our volunteers as we held a Small Wonders volunteer awards ceremony.
Youth
It has been an incredible year where we have seen so many of our youth encounter Jesus – particularly through worship. We attended a regional youth prayer and worship event put on by the message and 24/7 prayer last February and God really lit a fire in some of our young people and we have seen real enthusiasm, confidence and growth in them. Our young people have been present at Open Heavens and some of them serving at events – which they have got a lot out of.
We took year 9+ to Limitless (youth camp) in August – which they absolutely loved. It built community and friendships like nothing else does and they had an absolute blast. They all encountered Jesus and responded to different ministry opportunities in the meetings. We had 4 of them speak in tongues for the first time, some of them had accurate prophetic words for each other and they all grew in their faith. It was mega!
This school year we have seen our numbers almost double in size. This is due to a big influx of year 6’s becoming year 7’s and we have also had a number of new families with young people join the church – which is fantastic. We are now seeing between 20 and 30 young people on a Sunday and between 30 and 40 young people on a Friday.
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We have connected with All Nations and Excel youth – us going to them and them coming to us. We are building a strong relationship with their youth leaders and looking how we can support each other and work together going forward.
Director’s Report Conclusion
The Directors and ministry leaders of the Charity are pleased to report that the Charity remains financially stable. We recognise the favour of God that enabled us to continue to fulfil our commission to reach out to help those in need, and to promote the gospel of Jesus Christ.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document the Articles of Association of the limited company, limited by guarantee.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06323688 (England and Wales)
Registered Charity number
1122435
Registered office
34 Clifton Street Wolverhampton West Midlands WV3 0QT
Trustees
A Wastall S Eaves D Waldron S Kruczek D Brown S Chonkria T J Wood (appointed 16.11.22)
Company Secretary
S Chonkria
Independent Examiner
Richard Ashmore Altus Business Consulting Chartered Accountants 88-89 High Street Wordsley Stourbridge West Midlands DY8 5SB
Approved by order of the board of trustees on 26 January 2024 and signed on its behalf by:
A Wastall - Trustee
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Independent Examiner's Report to the Trustees of Lifespring Ministries
Independent examiner's report to the trustees of Lifespring Ministries ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
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 member of the Institute of Chartered Accountants in England and Wales, 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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
Richard Ashmore
Altus Business Consulting Chartered Accountants 88-89 High Street Wordsley Stourbridge West Midlands DY8 5SB
26 January 2024
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Lifespring Ministries
Statement of Financial Activities
for the Year Ended 31 March 2023
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 398,508 Charitable activities Conferences & Events 3,263 Rent Income 2,758 Other - MCO Cafe 787 Small Wonders - Investment income 2 - Total 405,316 EXPENDITURE ON Charitable activities Conferences & Events 7,618 Christians Against Poverty 3,408 Other 4,151 Children & Youth 2,562 Evangelism & Outreach 953 School of Ministry Expenses - Support Costs 332,953 Grants Payable 730 Cost of Activities - MCO Cafe 727 Small Wonders - Global - Loving Our City - Acts 435 - Sunday Broadcasting - Hope in His hands - Total 353,102 NET INCOME/(EXPENDITURE) 52,214 Transfers between funds 13 (57,602) Net movement in funds (5,388) |
Restricted funds £ 121,897 - - - - 15,445 8 137,350 - 2,013 554 500 - 2,507 6 - - - 16,641 135,870 17,253 180 495 119 176,138 (38,788) 57,602 18,814 |
31.3.23 Total funds £ 520,405 3,263 2,758 - 787 15,445 8 542,666 7,618 5,421 4,705 3,062 953 2,507 332,959 730 - 727 16,641 135,870 17,253 180 495 119 529,240 13,426 - 13,426 |
31.3.22 Total funds £ 438,837 3,677 2,945 758 1,139 9,242 - 456,598 10,361 6,726 7,977 2,147 - - 229,856 44,550 147 1,616 5,280 81,378 45,396 550 - - 435,984 20,614 - 20,614 |
|---|---|---|---|
The notes form part of these financial statements
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Lifespring Ministries
Statement of Financial Activities
for the Year Ended 31 March 2023
| Unrestricted funds Notes £ RECONCILIATION OF FUNDS Total funds brought forward 130,482 TOTAL FUNDS CARRIED FORWARD 125,094 |
Restricted funds £ 554,172 572,986 |
31.3.23 Total funds £ 684,654 698,080 |
31.3.22 Total funds £ 664,040 684,654 |
|---|---|---|---|
The notes form part of these financial statements
continued...
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Lifespring Ministries
Balance Sheet
31 March 2023
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Debtors 8 Cash at bank and in hand CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 10 NET ASSETS FUNDS 13 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ 960,489 8,561 8,320 16,881 (79,806) (62,925) 897,564 (772,470) 125,094 |
Restricted funds £ 535,157 1,075 36,756 37,831 - 37,831 572,988 - 572,988 |
31.3.23 Total funds £ 1,495,646 9,636 45,076 54,712 (79,806) (25,094) 1,470,552 (772,472) 698,080 125,094 572,986 698,080 |
31.3.22 Total funds £ 1,532,201 7,230 44,507 51,737 (72,665) (20,928) 1,511,273 (826,619) 684,654 130,482 554,172 684,654 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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...
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Lifespring Ministries
Balance Sheet - continued
31 March 2023
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 26 January 2024 and were signed on its behalf by:
A Wastall - Trustee
The notes form part of these financial statements
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Lifespring Ministries
Notes to the Financial Statements for the Year Ended 31 March 2023
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
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 | - 2% on cost |
|---|---|
| Fixtures and fittings | - 25% on cost |
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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Lifespring Ministries
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
2. INVESTMENT INCOME
| 31.3.23 | 31.3.22 | ||
|---|---|---|---|
| £ | £ | ||
| Deposit account interest | 8 | - | |
| 3. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| Depreciation - owned assets | 36,555 | 37,543 |
4. TRUSTEES' REMUNERATION AND BENEFITS
Mr A Wastall received remuneration for ministry services in accordance with the governing document to the value of £51,000 (2022 - £46,400).
No other trustees received any remuneration during the year
Trustees' expenses
Mr A Wastall was reimbursed for expenses totalling £2,266 during the year (2022 - £2,309)
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31.3.23 | 31.3.22 | ||||
|---|---|---|---|---|---|
| Staff | 12 | 11 | |||
| No employees received emoluments in excess of £60,000. | |||||
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL | ACTIVITIES | |||
| Unrestricted | Restricted | Total | |||
| funds | funds | funds | |||
| £ | £ | £ | |||
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 336,987 | 101,850 | 438,837 | ||
| Charitable activities | |||||
| Conferences & Events | 3,677 | - | 3,677 | ||
| Rent Income | 2,945 | - | 2,945 | ||
| Other | 758 | - | 758 | ||
| MCO Cafe | 1,139 | - | 1,139 | ||
| Small Wonders | - | 9,242 | 9,242 | ||
| Total | 345,506 | 111,092 | 456,598 |
EXPENDITURE ON
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Lifespring Ministries
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL Charitable activities Conferences & Events Christians Against Poverty Other Children & Youth Support Costs Grants Payable Cost of Activities MCO Cafe Small Wonders Global Loving Our City Acts 435 Total NET INCOME/(EXPENDITURE) Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 7. TANGIBLE FIXED ASSETS COST At 1 April 2022 and 31 March 2023 DEPRECIATION At 1 April 2022 Charge for year At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 |
ACTIVITIES - Unrestricted funds £ 10,361 5,616 1,097 1,944 192,002 44,550 147 1,616 - - - - 257,333 88,173 (59,903) 28,270 102,213 130,483 Freehold property £ 1,798,144 268,312 35,963 304,275 1,493,869 1,529,832 |
continued Restricted funds £ - 1,110 6,880 203 37,854 - - - 5,280 81,378 45,396 550 178,651 (67,559) 59,903 (7,656) 561,827 554,171 Fixtures and fittings £ 34,936 32,567 592 33,159 1,777 2,369 |
Total funds £ 10,361 6,726 7,977 2,147 229,856 44,550 147 1,616 5,280 81,378 45,396 550 435,984 20,614 - 20,614 664,040 684,654 Totals £ 1,833,080 300,879 36,555 337,434 1,495,646 1,532,201 |
|---|---|---|---|
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Lifespring Ministries
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Gift Aid Recoverable Prepayments 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 11) Trade creditors Social security and other taxes Other creditors Accrued expenses 10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 11) 11. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 years by instalments |
31.3.23 £ 1,463 6,490 1,683 9,636 31.3.23 £ 66,454 9,784 1,678 390 1,500 79,806 31.3.23 £ 772,472 31.3.23 £ 66,454 66,454 132,908 573,108 |
31.3.22 £ 1,116 4,431 1,683 7,230 31.3.22 £ 66,454 356 1,678 390 3,787 72,665 31.3.22 £ 826,619 31.3.22 £ 66,454 66,454 132,908 627,257 |
|---|---|---|
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Lifespring Ministries
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
12. SECURED DEBTS
The following secured debts are included within creditors:
Bank loans
| 31.3.23 | 31.3.22 |
|---|---|
| £ | £ |
| 838,924 | 893,073 |
The bank loans are secured with charge on the freehold property owned by the charity in favour of Triodos Bank.
13. MOVEMENT IN FUNDS
| Unrestricted funds General fund Baptism Fund Furnishings Children & Youth Restricted funds Building Fund CAP Mozambique Other Small Wonders LSM Global Youthworker Loving Our City Sunday Broadcasting Hope in His hands TOTAL FUNDS |
At 1.4.22 £ 130,482 - - - 130,482 515,325 8,316 5,095 2,636 4,747 1,748 3,293 500 12,512 - - 554,172 684,654 |
Net movement in funds £ 50,910 1,457 (199) 46 52,214 8,074 (521) 934 98 (1,197) 2,437 (37,253) (500) (10,861) (3) 4 (38,788) 13,426 |
Transfers between funds £ (56,028) (1,499) (75) - (57,602) 17,000 (6,000) 111 - - - 43,300 - 3,191 - - 57,602 - |
At 31.3.23 £ 125,364 (42) (274) 46 125,094 540,399 1,795 6,140 2,734 3,550 4,185 9,340 - 4,842 (3) 4 572,986 698,080 |
|---|---|---|---|---|
continued...
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Lifespring Ministries
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
13. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Baptism Fund Furnishings Children & Youth Restricted funds Building Fund CAP Mozambique Missions Other Small Wonders LSM Global Youthworker Here to help Loving Our City Sunday Broadcasting Nepal Pastors Hope in His hands Lifespring Centre India TOTAL FUNDS |
Incoming resources £ 400,288 4,236 14 778 405,316 8,080 1,492 17,015 22,917 1,327 15,444 4,944 43,093 - 200 6,192 (3) 4,926 123 11,600 137,350 542,666 |
Resources Movement expended in funds £ £ (349,378) 50,910 (2,779) 1,457 (213) (199) (732) 46 (353,102) 52,214 (6) 8,074 (2,013) (521) (16,081) 934 (22,531) 386 (1,229) 98 (16,641) (1,197) (2,507) 2,437 (81,076) (37,983) (500) (500) (308) (108) (16,945) (10,753) - (3) (4,582) 344 (119) 4 (11,600) - (176,138) (38,788) (529,240) 13,426 |
|---|---|---|
continued...
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Lifespring Ministries
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Building Fund CAP Mozambique Other Small Wonders LSM India Global Youthworker Loving Our City Children's Ministry Christmas Love Telmo's Car Typhoon Acts 435 Sunday Broadcasting TOTAL FUNDS |
At 1.4.21 £ 102,213 535,861 6,401 2,618 3,349 445 1,748 1,000 4,821 125 5,349 110 - - - - - 561,827 664,040 |
Net movement in funds £ 88,172 (36,036) 1,915 2,477 - 3,962 - (2,332) (43,988) 500 6,855 - 4 (571) (89) 90 (345) (67,558) 20,614 |
Transfers between funds £ (59,903) 15,500 - - (828) 340 - 1,374 42,418 (125) 308 (110) (4) 571 89 - 370 59,903 - |
At 31.3.22 £ 130,482 515,325 8,316 5,095 2,521 4,747 1,748 42 3,251 500 12,515 - - - - 90 25 554,172 684,654 |
|---|---|---|---|---|
continued...
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Lifespring Ministries
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Building Fund CAP Mozambique Small Wonders India Global Youthworker Here to help Loving Our City Children's Ministry Christmas Love Telmo's Car Typhoon Acts 435 Sunday Broadcasting TOTAL FUNDS |
Incoming resources £ 345,506 722 3,025 14,767 9,242 3,399 19,369 500 1,129 47,917 203 1,116 5,197 3,116 640 750 111,092 456,598 |
Resources Movement expended in funds £ £ (257,334) 88,172 (36,758) (36,036) (1,110) 1,915 (12,290) 2,477 (5,280) 3,962 (5,731) (2,332) (63,357) (43,988) - 500 (2,954) (1,825) (39,237) 8,680 (203) - (1,112) 4 (5,768) (571) (3,205) (89) (550) 90 (1,095) (345) (178,650) (67,558) (435,984) 20,614 |
|---|---|---|
continued...
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Lifespring Ministries
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
13. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Baptism Fund Furnishings Children & Youth Restricted funds Building Fund CAP Mozambique Missions Other Small Wonders LSM India Global Youthworker Here to help Loving Our City Children's Ministry Christmas Love Telmo's Car Typhoon Acts 435 Sunday Broadcasting Nepal Pastors Hope in His hands TOTAL FUNDS |
At 1.4.21 £ 102,213 - - - 102,213 535,861 6,401 2,618 - 3,349 445 1,748 1,000 4,821 125 3,782 1,567 110 - - - - - - - 561,827 664,040 |
Net movement in funds £ 139,082 1,457 (199) 46 140,386 (27,962) 1,394 3,411 386 98 2,765 2,437 (2,332) (81,971) - (1,933) (2,073) - 4 (571) (89) 90 (348) 344 4 (106,346) 34,040 |
Transfers between funds £ (115,931) (1,499) (75) - (117,505) 32,500 (6,000) 111 - (828) 340 - 1,374 85,987 (125) (1,874) 5,373 (110) (4) 571 89 - 370 (269) - 117,505 - |
At 31.3.23 £ 125,364 (42) (274) 46 125,094 540,399 1,795 6,140 386 2,619 3,550 4,185 42 8,837 - (25) 4,867 - - - - 90 22 75 4 572,986 698,080 |
|---|---|---|---|---|
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Lifespring Ministries
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
13. MOVEMENT IN FUNDS - continued
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 Baptism Fund Furnishings Children & Youth Restricted funds Building Fund CAP Mozambique Missions Other Small Wonders LSM India Global Youthworker Here to help Loving Our City Children's Ministry Christmas Love Telmo's Car Typhoon Acts 435 Sunday Broadcasting Nepal Pastors Hope in His hands Lifespring Centre India TOTAL FUNDS |
Incoming resources £ 745,794 4,236 14 778 750,822 8,802 4,517 31,782 22,917 1,327 24,686 4,944 3,399 62,462 500 1,329 54,109 203 1,116 5,197 3,116 640 747 4,926 123 11,600 248,442 999,264 |
Resources Movement expended in funds £ £ (606,712) 139,082 (2,779) 1,457 (213) (199) (732) 46 (610,436) 140,386 (36,764) (27,962) (3,123) 1,394 (28,371) 3,411 (22,531) 386 (1,229) 98 (21,921) 2,765 (2,507) 2,437 (5,731) (2,332) (144,433) (81,971) (500) - (3,262) (1,933) (56,182) (2,073) (203) - (1,112) 4 (5,768) (571) (3,205) (89) (550) 90 (1,095) (348) (4,582) 344 (119) 4 (11,600) - (354,788) (106,346) (965,224) 34,040 |
|---|---|---|
continued...
Page 19
Lifespring Ministries
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 20
Lifespring Ministries
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 March 2023 | ||
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 448,413 | 373,230 |
| Gift aid | 71,992 | 65,607 |
| 520,405 | 438,837 | |
| Investment income | ||
| Deposit account interest | 8 | - |
| Charitable activities | ||
| Conference Income | 3,263 | 3,677 |
| Rent Received | 2,758 | 2,945 |
| MCO Café | 787 | 1,139 |
| Resource Sales | - | 758 |
| Small Wonders | 15,445 | 9,242 |
| 22,253 | 17,761 | |
| Total incoming resources | 542,666 | 456,598 |
| EXPENDITURE | ||
| Charitable activities | ||
| Events & Conferences | 3,610 | 8,551 |
| Children & Youth | 3,062 | 2,147 |
| CAP Expenses | 5,421 | 6,726 |
| School of Ministry Expenses | 2,507 | - |
| MCO Expenses | 727 | 1,616 |
| Media | 554 | 725 |
| Small Wonders | 16,641 | 5,280 |
| Global | 83,604 | 27,242 |
| Other | 7,008 | 8,527 |
| Loving Our City | 17,253 | 45,396 |
| Baptism | 2,779 | - |
| Hope in His hands | 119 | - |
| Grants to institutions | 730 | 750 |
| 143,015 | 106,960 |
This page does not form part of the statutory financial statements
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Lifespring Ministries
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 March 2023 | ||
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Support costs | ||
| Management | ||
| Wages | 166,074 | 142,881 |
| Pensions | 4,670 | 4,270 |
| Insurance | 4,871 | 4,919 |
| Light and heat | 19,214 | 10,270 |
| Telephone | 5,003 | 4,364 |
| Postage and stationery | 1,174 | 3,170 |
| Sundries | 10 | 29 |
| Independent Examiner's Fees | 1,816 | 1,501 |
| Ministry Fees & Expenses | 53,266 | 50,246 |
| Travel, training & Staff Expenses | 2,637 | 2,518 |
| Design, Print & Promotion | 2,010 | 2,363 |
| Repairs & Maintenance | 25,415 | 15,027 |
| Expensed Equipment | 8,711 | 9,199 |
| Hospitality & Refreshments | 5,112 | 3,080 |
| Subscriptions & Licences | 2,428 | 3,125 |
| Sunday Operations | 2,664 | 4,600 |
| IT Costs | 3,584 | 4,458 |
| Depreciation of tangible and heritage assets | 36,555 | 37,543 |
| 345,214 | 303,563 | |
| Finance | ||
| Bank charges | 1,431 | 1,858 |
| Mortgage | 39,580 | 23,603 |
| 41,011 | 25,461 | |
| Total resources expended | 529,240 | 435,984 |
| Net income | 13,426 | 20,614 |
This page does not form part of the statutory financial statements
Page 22