THE LIGHT AND LIFE FULL GOSPEL FELLOWSHIP Annual Report and Financlal Statements For the year ended 310ecember 2023 IA Company Limited by Guarantee) COMPANY NUMBER 06483098 CHARITY NUMBER 1124579
THE LIGHT AND LIFE FULL GOSPEL FELLOWSHIP Contents of the financial statements For the year ended 31 December 2023 Page Trustees. report- statutory information Trustees, report Independent examiner's report Slalemènl of financial activities Balance sheet 8-13 Notes to the financial slal8ments
THE LIGHT AND LIFE FULL GOSPEL FELLOWSHIP Trustees. report- statutory infonnatlon For the year ended 31 December 2023 REFERENCE AND ADMINISTRATIVE DETAILS Trustees J Simpson Pastor D Rowe Rev H Bultler N Roberts M Bonnick Registerod office 105-111 Landor Road Stockwell London SW9 9RR Company number Charity number 6483098 1124579 Banker8 HSBC PLC 20 Borough High Street Soulhwark London SE1 1YB Independant Examlner Jacob Cavena9h & Skeet Chartered Accounlanls 5 Robin Hood Lane Sullon Surrey SM1 2SW Page 1
THE LIGHT AND LIFE FULL GOSPEL FELLOWSHIP Trustees, report For the year ended 31 December 2023 The trustees (who are also the directors) present Iheir report and the financial statements of the charitable company for the year ended 31 December 2023. The statutory information is shown on page 1. STRUCTURE. GOVERNANCE AND MANAGEMENT The Light and Life Full Gospel Fellowship is a company limited by guaranle6, number 6483098 and il is governed by its Memorandum & Articles of Association. It is registered as charity number 1124579. The trustees are responsible for the legal and administrative running of the church. They are appointed by the existing trustees. The trustees keep up to date by reading the new guidance released by the Charity Commission. The senior Pastor, Pastor Herma Buttler is the President of the Direclors and Trustees Board. The trustees consist of a maximum of 7 members which are reviewed periodically. The Board of Directors which is rnade up of ordained Officers of the church and the Trustees Board are responsible for ensuring the smooth and successful legal operation of the church. Duties include Ibul are not limited lo) establishing policy, overseeing capital expenditures and financial reporting. Trustees which served during tho year: J Simpson. D Rowe, Rèv H 8utt16r, N Roberts and M Bonnick. The Board of Trustees and the Board of Directors comprise the key managèment personnel of the church. Both Boards meet regularly lo oversee the day lo day running of the church. The remuneration of key management personnel is decided annually by the trustees. OBJECTIVES AND ACTIVITIES VlsSon and Purpose The advancemènt of the Christian religion in particular by the propagation of the Gospel. To help young people especially but not exclusively through leisure activities. So lo develop their physical. mèntal and spiritual capacities that they may grow lo fijll maturity as individua15 a5 members of society and that their condition of lrfe may be improved. The charity is a member of the Evangelul Alliance. The activities that the charity undertook lo meet thèse objectives are summarised in the achievements and perfomiance section of this report bèlow. Publlc Beneflt Reportlng The trustees hereby confirm that they have complied with section 4 of the Charities Act 2006 and have provided explanations ol the ways in which the local communily have benefited from the range of activities hosted by the charity during the past year, as detsiled below. ACHIEVEMENTS AND PERFORMANCE During the year The Light and Life Full Gospel Fellowship has continued to make every effort lo save for a new building from the funds raised. The Sancluary is now back in full use. Out of the said fund we have undertaken the following.. 1. Rally.. We did not hold a fund-raising rally during 2023. However. the trustees continue to seek ways of raising funds to buy a new building to help serve the community. An amount of £373.946 is sel aside towards this but we do need more funds and we are looking for generous gift from individualslphilanthropists or companies who believe a church in a community is of great value. We continue in our effort to raise £3m. 2. Missions." The Church continues to support Missions such as Crisis at Christmas. Spurgeon Charily, Christian Aid, Star Children's charity and Fareshare. Page 2
THE LIGHT AND LIFE FULL GOSPEL FELLOWSHIP Trustees, report For the year ended 31 December 2023 ACHIEVEMENTS AND PERFORMANCE (continued) 3. Foodbank.. The Foodbank is now fully operated by LLFGF. Our register has significantly increased. We pack 90 crates each week feeding a total of 322 people including children. There is also a waiting list of people wanting lo register with the Foodbank. We are able lo collect food from various stores via Food Team at Neighbourly and Foodiverse. We also collect directly from Fareshare, Wailrose Asda, Costco, Greggs and Prett. Al present each week the volunteers musl set up the room for Ihe operation of the food bank and pull apart when finished. This is part of our future plans to have a permanent area. The excess food we collect is passed on lo another Charity in the area, consisting of bakery products. Excess sandwichlrolls is handed out to the homeless at London Bridge by one of our Deacons. Mr Hanglan. on hisjourney home. We also operate a soup kitchen On a month during the winter periods beeen November-march. This has been successful and is well appreciated by the community. They often ask for the soup. 4. Famlly SeThlce-. Special services for the family on Mother's and Father's Sunday were held in the Sanctuary. 5. Sunday School.. We resumed the childrens Chrislmas Party in the building during 2022.This is opened lo all children. We continued to celebrate the pupils. achievemenl with an end of year award ceremony. 6. The Llght and Llfo Support.. continues to give support with hospital visits, home help, etc. There is home delivery to families and Individuals. We continue to do Monday Meals on Wheels. 7. Musl¢ Academy.. For thé past seven years we have run a music academy voluntsrily on 2 Saturday afternoon. As part of our future plans this is something. we would like lo expand but due lo lack of sufficient space, we are restricted. 8. Towards the end of 2022 we started opening the building once a week in the colder months to create a warm space for the community. A meal is provided and hot and cold drinks continued lo be available throughout the day. This was funded by Ihe Fellowship. We called this project "Thou Preparost A Table (TPAT). PLANS FOR FUTURE PERIODS The aim of the charity is lo own a larger community building lo be able to better operate the activities we already do in such a limited space. We would also like to run a crechelplayschool and youth Club. FINANCIAL REVIEW The charity is in a healthy state financially. Raserves pollcy The trustees have considered the level of reserves they wish to relain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The truslees aim lo ensure the charity will be able lo continue lo fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not lo set aside funds unnecessarily. Reserves review The charity had total funds of £1.710,362 at the end of the year of which £373,946 were designated for the purchase of a new building. £32,328 is invested in red assets and £972.000 in inveslmenls. The free resetves are therefore £332,088. Grant making poll¢y The charity gives regular gifts to Crisis at Christmas. Christian Aid and CAP. The charity also gives gifts lo individuals who are in need in line with their objectives. Page 3
THE LIGHT AND LIFE FULL GOSPEL FELLOWSHIP Trustees, report For the year ended 31 December 2023 FINANCIAL REVIEW Icontlnued) Fundraising policy In line with the reporting requirements included in the Charities Act 2016 the Trustees are pleased lo confirm that all fundraising is undertaken in compliance with best fundraising practice. During the year we did not employ any professional fundraisers. There were no complaints or criticisms during the year about our fundraising aclivitl8S. Risk management The Iruslees have considered the risks to which Ihe church is exposed arKI uses a risk register lo manage the risks. The principal risk idenb.fied is Financi81- Income is derived from individuals who attend the church with no certainly of future giving. We monitor monthly giving to highlight any conceming trends or loss of donors. Our finance policy is closely observed by all staff to ensure careful spending. Our reseThes policy ensures that we always hold 3 months fixed costs in reserve at all limes. STATEMENT OF TRUSTEES, RESPONSIBILITIES The Iruslees are responsible for preparing Ihe Annual Report and the financial statements in accordance with applicable law and regulations and have had regard to the Charity Commission's guidance on public benefit. Company law rèquires the Iruslees, who are the directors for the purposes of company law, lo prepare financial slalemenls for each financial year. Under that law the trustees have elecled lo prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice {Uniled Kingdom Accounting Standards and applicable lawl. Under company law the trustees musl not approve the financial slalements unless they are salisfied that they give a Irue and fair view of the slate of affairs of the company and of ils incoming resources and application of resources. including the nel income or expenditure, of the company for that period. In preparing these financial statements, thè trustees are requiréd to: select suitable accounting policies and then apply them consistently: observe the methods and principles in the charib.es SORP., make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial slalemenls on a going concern basis unless it is inappropriate to assume Ihal the company will be able lo continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the company's transactions and disclose with reasonable accuracy al any lime Ihe financial posilion of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The above report is prepared in accordance with the special provisions relating lo small companies within Part 15 of thè Companiès Act 2006. Approved by the trustees and signed on Iheir behalf by D Rowe Jsi son Date.. 28 August 2024 Page 4
THE LIGHT AND LIFE FULL GOSPEL FELLOWSHIP Independent examlner's report to the trustees of The Light and Life Full Gospel FelI0vhIp Charitable Company (the Company) For the year ended 31 December 2023 I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023 set out on pages 6 10 13. Responsibilltles and basss of report As the charily's trustees (and also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'lhe 2006 Acl'l. Having satisfied myself that the accounts of the Company are not required lo be audited under Part 16 of the 2006 Act and are e1ible for independent examination. I report in respect of my examination of your charity's accounts as carried out under section 145 of Ihe Chariles Act 2011 ('the 2011 Acl'l. In carrying out my examination I have followed the directions given by the Charity Commission under section 145{5llbl of the 2011 Acl. Independent examineVs statement I have completed my examination. I confim that no matters have come to my attention in connection with the examination giving me cause lo believe.. accounting records were nol kept in respect of the Company as required by section 386 of the 2006 Act.. or the accounts do not accord wth 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 givè a 'lrue and fair view, which is not a maller considered as part of an independent examination.. or the accounts have not been prepared in accordance with the methods and principles of Accounting and Reporting by Charities- Slalement of Recommended Practice applicable lo harilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland {FRS 102). I have no concerns and have come across no other malters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Miriam Hickson CTA FCA Jacob Cavenagh & Skeet 5 Robin Hood Lane Sullon Surrey SM1 2SW Dale. l? ZoZ¥ Page 5
THE LIGHT AND LIFE FULL GOSPEL FELLOWSHIP Statement of firbancial activities (incorporating the income and expenditure accountl For the year ended 31 December 2023 2023 2022 Unr•$iricted D•signated Funds Funds Total Unrestricted Oesignated Fund$ Funds Total Not• Income from". Donations and legacies Other trading activities Investments 159.450 24,964 159,450 174.129 24,964 14.294 174,129 14,294 Total Incom• 216493 216 493 219 524 219 Expendlturè on: Raising funds Rentalproperty costs Charitable activities 14.711 14.711 5.505 153822 155226 5,505 155226 Total expendlture 168 533 160 7 160 731 Net incomellexponditurel 47,960 47.960 $8.793 58,793 Gains on revaluation ol investment properties 76 Net movement Sn funds 123,960 123,960 58,793 58.793 Reconcillatlon of fvnds Total funds brought fOard 12456 373946 1 586402 1 15 Total funds carrled loard All of the activities are continuing. There were no recognised gains or10sses other than those stst&d above. The notes on pages 8 to 13 form part of these financial slatements. Page 6
THE LIGHT AND LIFE FULL GOSPEL FELLOWSHIP Balance sheet As at 31 December 2023 2023 2022 Note Flxed a$s•ts Tangible assets Investments 32,328 972 000 1.004,328 38,982 896 000 934,982 Current assets Debtors Cash at bank and in hand 26,374 686 939 713.313 22,325 636 529 658.854 Creditors.. Amounts falling due within one year {7279) Net current ossets 6S1420 Total assets less current Ilablllties Funds.. General Fund Designated funds 10 10 1,336,416 37 1.212,456 373 Total Funds For the year ending 31 December 2023 the company was entitled lo exemption from audit under section 477 of the Companies Act 2006 relating lo small companies. The members have not required the company lo obtain an audit in accordance with section 476 of the Comp8ni8s Act 2006. The directors acknowledge their responsibilty for complying with the requirements of the Act with respect lo accounting records and for the preparation of accounts. These accounts have been prepared in accordance wilh the provisions applicable to companies subject lo the small companies regime. The financial statements were approved by the Board of Trustees on 28 August 2024 and signed on its behalf by.. D Rowe J Simpson Cornpany Reglslralion No: 06483098 The notes on pages 8 to 13 form part of these financial statements. Page 7
THE LIGHT AND LIFE FULL GOSPEL FELLOWSHIP CHURCH Notes to the financial statements For the year ended 31 December 2023 ACCOUNTING POLICIES The Light and Life Full Gospel Fellowship Church is a private company limited by guarantee incorporated in England and Wales and a re9lStered charity. The registered office is 10&111 Landor road, Stockwell, London, SW9 9RR. la. Basis of accounting These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" {-FRS 102"), "Accounting and Reporting by Charities. the Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The charity is a Public 8enefil Entity as defined by FRS 102. Thè charity has tsken advantage of the exemption from producing a cash flow statement for smaller charities under FRS 102. The financial statements are prepared in sterling, which is the functional currency of thè charity. Monetary amounts in these financial statements are rounded lo the nearest £. The financial statements have been prepared on the historical cost convention. modified lo include th& revaluation of investments to fair value. The principal accounting policies adopted are set out below. 1b. Golng concorn Preparation of the accounts is on a going concern basis. The Irust8es consid8r that there are no material uncertainties about the Charity's ability lo continue as a going concem. 1c. TangSble flxod assols Tangible fixed assets for use by the charity, are capilalised If they can be used for more than one year, and cost al least £500. They are valued at cost or, if gifted. al the value lo the charity on receipt. The leasehold propety is deprecialed over the lease ri¢)d of 60 years. Depreciation has been calculated on the remaining assets on a reducing balance basis. The rates applied per annLtm are as follows.. Leasehold property Equipment 60 year straight line Fixtures and Fittings 250/0 reducing balance Motor Vehicles 25¥r• reducing balance 25% reducing balance 1 d. Investments Investment property is valued at fair value at the balance sheet dale and the gain or loss in the year is reflected in the Statement of Financial Activities. 16. Debtors Trade debtors and other debtors are induded at the settlement amount due. Prepayments are valued at the amount prepaid. Page 8
THE LIGHT AND LIFE FULL GOSPEL FELLOWSHIP Notes to thè financial statements (contlnued) For the year ended 31 December 2023 ACCOUNTING POLICIES (CONTINUED 1f. Cash at bank and in hand Cash at bank and in hand includes cash and short terni highly liquid investmenls with a short maturity of three months or less from the date of opening of the deposit. 19. Credltors and provisions Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds lo a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised al their settlèment amount. 1h. Flnancial instruments The charity only has financial assets and liabilities of a kind that qualify as basic flnancial instruments. Basic financial instruments arè Inits'ally recognised al transaction value and subsequently measured al their settlement value. 11. Incomè Donations and other income are included in the Statement of Financial Activities (SOFA) when the charity has entitlement to the income. rt Is probable the income will b8 received and th8 amount of income receivable can be reliably measured. Donated g¢Jods are measured al their monetary value to the charity and are include¢J under donations where il is possible lo establish a fair value without incurring excessive cost. An equal amount is included under the relevant expenditure category so the nel income is nil. The value of donated and surplus food is excluded from th& accounts where the cost of establishing the fair value of thesè would be excessive in comparison lo the benefit of the users of the accounts. Where income has related expenditure las with fundraising or conlract income), thè incoming resource and related expenditure are reported gross in the SOFA. Grants and donations are only included in the SOFA when the charity has unconditional enlillement lo the resources. Income from lax reclaims are included in the SOFA in the same financial period as the gift lo which they relate. 1j. Expenditure All expenditure is accrued as soon as a liability is considered probable, discounled to present value for longer term liabilities and has been classified under headings Ihal aggregate all costs related to the category. Charitable activities comprise expendilure directly related lo the objects of the charrty. It also includes governance costs, which comprise expenditure to comply with statutory and legal requirements. Ik. Taxatlon The charitable company is exempt from taxation under part 11 of the Corporation Tax Act 2010 Page 9
THE LIGHT AND LIFE FULL GOSPEL FELLOWSHIP Notes to the flnancial statements Iconlinued) For Ihe year ended 31 December 2023 INCOME Unrestricted Designated Funds Funds Total 2023 Total 2022 Donatlons and legacles Gift Aid Gifts & Donations Donated goods where fair value available Membership Offerings 22.995 8.040 22,995 8,040 44.197 128415 159 450 17,901 4.465 36,582 115 181 174 129 128415 159450 Other tradlng activllles Fundraising Events Other income 6,144 6,144 5,519 Investment Income Rental income Bank interest 21.883 21.883 29,659 Total Incomo 3. EXPENDITURE ON CHARITABLE ACTNMES Unrestrldod Deslgnatod Funds Funds Total 2023 Total 2022 Bank charges Building repairs & renewals Church social Conference expenses Depreciation Food donated where fair value available Flowers General expenses Gifts individuals Gifts - inslilulions Hire chargès Insurance Light & Heat Loss on disposal Materials Motor expenses Pastor's salary costs Printing, Postage & Stationery Sundry expenses Telephone Travel Water 561 20,955 527 2,732 6.654 561 20.955 527 2,732 6,654 430 5,776 1.378 3,571 7,410 36,582 711 4,648 7,220 1,841 495 1,178 2,903 64 5,842 12,066 45,974 3.960 5,632 1,151 1,675 543 151 050 797 6,736 9,485 2.342 2.436 2.667 3,467 797 6,736 9,485 2.342 2,436 2.667 3,467 10.342 21.078 46,526 4,160 4.956 1,077 710 656 10.342 21,078 46,526 4,160 4.956 1.077 710 656 Governance Accountancy Independent Examiner's fee Professional fees 1.998 1,520 1.998 1,520 1,886 1,396 894 Total Page 10
THE LIGHT AND LIFE FULL GOSPEL FELLOWSHIP Notes to the financlal statements (continued) For the year ended 31 December 2023 4. TRUSTEES'AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES The total remuneration of the key management personnel of the charity was as follows.. 2023 2022 During the financial year Reverend Buttler received £46,526 (2022.. £45,974) in remuneration in her capacity as Pastor. These payments are permitted by section 6.1.b of the Memorandum & Articles of Association. During the financial year £61212022.. £15) was reimbursed to 3 of the Iwslees (2022.. 3} for charity èxpenditure. There were no other related paty iransaclions. S. STAFF COSTS 2023 2022 Wages and salaries Social security costs 46,310 216 44.985 98 No employee earned more than £60,000 per annum. The average monthly number of employèes during the year was 1 {2022'. 1). 6. TANGIBLE FIXED ASSETS Leasehold Property Equipment Fixtures & Motor Fittings Vehicles Total Cost Al 1 January 2023 Additions Disposals At 31 December 2023 43,667 3.527 4.325 51,520 103,039 43 527 Depreciation Al 1 January 2023 Charge for the year Released on Disposals Al 31 December 2023 28.384 728 560 742 2,450 469 32,663 4,715 64,057 6,654 711 Net book value At 31 December 2023 Al 31 December 2022 Page11
THE LIGHT AND LIFE FULL GOSPEL FELLOWSHIP Notes to the financlal stalements (continued) For the year ended 31 December 2023 INVESTMENTS 2023 2022 Investment property Fair value brought forward Revaluation Fair value carrièd forward 896,000 896,000 The property is measured at fair value by the trustees using advice from local propety agents. 8. DEBTORS 2023 2022 Prepayments Accrued income Gift Aid receivable 2,045 1.450 2,054 2,400 CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Tax and social security Accruals 2,852 3,955 Page 12
THE LIGHT AND LIFE FULL GOSPEL FELLOWSHIP Notes to the financial statements (contlnued) For the year ended 31 December 2023 10. FUNDS Balance al 1.1.2023 Income & Gains on Balanco at gains Expenditure rnvaluation 31.12.2023 General fund Designated funds Building fund 1,212.456 216.493 {168.5331 76,000 1.336,416 373 946 Balance al Income & Galns on 1.1.2022 Balance at gains Expenditure revaluation 31.12.2022 General fund Designatèd funds Building fund 1.153.663 219.524 {160.7311 1,212,456 373 946 The building fund contains funds sel aside by Ihe direclots from unrestricted income, for purchasing a new building lo help serve the community. 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Deslgnated Funds Funds Total 2023 Tangible fixed assets Investments Current assets Current liabilities Total Net A85els 32,328 972.000 339.367 32,328 972,000 713,313 373,946 Unrèstricted Deslgnated Funds Funds Total 2022 Tangible fixed assets Investments Current assets Current liabilities Total Nel Assets 38,982 896,000 284.908 38,982 896,000 658.854 373.946 Page 13