Registered number 05343048 LIFE BUILDING CENTRE (LBC) Report and Accounts 25 January 2024
LIFE BUILDING CEKfRE (LBC) Registered number: 05343048 Dlrectors. Report The directors present their report and accounts for the year ended 25 January 2024. Prlnclpal activltles The companvs principal activity during the year continued to be to advan the christian faith and a pentecostal christian church. Directors The following persons served as directors during the year: Mr Niyi Murelo Mrs Sade Murele Small company provlslons This report has been prepared in accordance with the provisions in Part 15 01 the Companies Act 2006 applicable to companies subject to the small companies regime. ard on 22 October 2024 and signed on its behalf. This report was rov Director
LIFE BUILDING CENTRE (LBC) Accountants. Report Accountsnts. report to the directors of LIFE BUILDING CENTRE (LBC) You consider that the company is exempt from an audit for the year ended 25 January 2024. You hav8 acknowledged, on the balance sheet, your responsibilth'es for complying with the requirements of the Companies Act 2006 hmth respect to accounting records and the preparation of accounts. These resFXinsibilities include preparing accounts that gFve a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. In accordan with your instructions. we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the Company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, consequently we do not express any opinion on these accounts. Andrew & Co Chartered Certified Accountants Suite 112 AJP Business Centre 152-154 Coles Green Road, LONDON NW2 7HD. 22 October 2024
LIFE BUILDING CENTRE (LBC) Prollt and Loss Account lor the year ended 25 January 2024 2024 2023 Turnover 27,124 19,110 Administrative expenses (30.241) (19.730) Operatlng lo {3,117) (620) Interest receivable 156 19 Loss on ordlnary acllvllles beforn taxatlon (2.961) (601) Tax on loss on ordinary a1VIll8S Logs for tho flnanclal year 601
LIFE BUILDING CEKfRE (LBC) Registered number: Balance Sheet as at 25 January 2024 05343048 Notes 2023 Fixed assets Tangible assets 3,502 3,191 Current assets Debtors Cash at bank and in hand 4.750 55.170 59.920 3.850 59,317 63.167 Creditors: amounls falling due withln one year (4,201) (4,176) Net currant assets 55.719 58.991 Net assets 59.221 62,182 Capltal and reserves Profit and loss account 59.221 62,182 Shareholders, funds 59,221 62.182 The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audtt under section 477 of the Companies Act 2006. The members have not required the company to obtain an auLlit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complytng wth the requirements of the Companies Act 2006 wrth respect to accountirYJ records and the preparation of accounts. The accounts have been prepared and delwered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. Mr Niyi Murele Director Approved by t October 2024
LIFE BUILDING CEKfRE (LBC) Notes to the Accounts for the year ended 25 January 2024 1 Accounting pollcies Basis of preparatlon The accounts have been prepared under the historical cost convention and in acrdanCe FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Irdand (as applied lo small entities by s8Ction 1A of the slandardl. Tumover Tumover is measured at the lair value of the oflerings. donations and gift aid r1Ved during the accounting period. T8nglble Ilxed assets Tangible fixed assets are measured al cost less accumulattve depreciatton and any accumulative impaimient losses. Deprecialion is prowded on all iangible fixed assets. other than freehold land. at rates calculated to Trmite off the cost. less estimated residu value, of each asset evenly over its expected uselul life, as follows: Freehold buildings Leasehold land and buildings Plant and machinory Molor vehicle over 50 yeats over the lease tem 21P/¢J reducing balance basis 25Yo reducin9 balance basis D8btors Short lenn debtors are measured at transaction price (which is usually the Invol price). less any impairment losses for bad and doubtful debts. Loans and other financial assels are initial recognised at transaction price induding any transaction costs and subsequently measur8d al amortised cost determined using the effective interest method, less any impaimient losses for bad and doubtful debts. Credftors Short temi creditors are measured at transaction price {vthi¢h is usualty the invoi¢8 pricel. Loans and othèr financial liabilities are initially recognised at transaction price net of any transaclion costs and subsequently measured at amortised cost determined using th8 effective interest method. Taxatlon The company is a registered charity with the Charity Commissioners. Its income is exempt from income and corporation tax lo the extent that its income and gains are applied lor charitab purposes. Value added tax is not reGoverable by the company, and tl is therefore included in the relevant costs in the profit and loss account. Leased assets A lease is classified as a finance lease if r( transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligalions under finance leases are initially recognised as assets and liabilities at amounts equal to ihe fair value of the leased assets or, rf lower, the present value of Ihe minimum lease payments. Minimum lease payments are apportioned beleen the finance charge and ihe reduction in the outslanding liability using the effective intèrest rate mèthod. Thè linance charge is allocaled to each period during the leas8 so as to prCmJu a constani period rate of interèsl on the remaining balance of the liability. Leased assets are depreciated in accordance wth the company's policy for tangible tixed assets. If there is no reasonable certainty that ownership wll be oblained al the end of the lease term, the asset is deprecialed over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. 2 Employees 2024 2023
LIFE BUILDING cErRE (LBC) Notes to the Accounts for the year ended 25 January 2024 Number Number Avgrag6 number of persons employed by the o)mpany 3 Tanglble flxed assets Plant and machinery etc Molor vehicles Total Cost Al 26 January 2023 Additions Al 25 January 2024 15,373 1.582 16.955 1.000 16,373 1.582 17,955 1,000 DeplatIon At 26 January 2023 Charge for the year At 25 January 2024 12,196 1.268 13,464 13,182 1,271 989 Not book valua At 25 January 2024 3,491 11 3,502 At 25 January 2023 3,177 14 3,191 4 Debtors 2024 2023 Prepayments & daposits Other debtors 2.600 2,150 4.750 2.600 1,250 3.850 5 Creditors: amounts falllng due withln one y8ar 2024 2023 Trade cr8ditors Other crèditors 560 3.641 4,201 3,641 4,176 6 Other Inforniallon LIFE BUILDING CENTRE (LBC) is a private company limrted by shares and incorpjrated in England. Its registsred office is: Th8 Haven Carrs Drive High Wycombe HP12 48T
LIFE BUILDING CEMfRE (LBC) Detalled profit and loss account for Ihe year ended 25 January 2024 This schedule does not fom7 part of the statutory accounts 2024 2023 Sales 27.124 19,110 Administrative expenses (30,241) {19,730) Operatlng loss (3.117) {620) Interesl receivable 156 19 Loss b•fore lax 2,961 601
LIFE BUILDING CEKfRE (LBC) Detailed profit and loss account lor the year ended 25 January 2024 This schedule does not fonn part ol the statutory accounts 2024 2023 Sales Olferings, Donations & Gift 'dS 27,124 19.110 Admlnlstrative expenses Employee costs: Volunteers Mission & preaching Travel and subsistence Welfare and training 1.900 9,568 1,026 150 7.212 40 Premises costs: Rent Cleaning 7,252 8.820 207 9.027 4,165 258 4,423 General administrative expenses: Telephone and fax Stationery and printing Conferences Subscriptions Bank charges Insurance Repairs and maintenance Computing and IT support Donations and benevolence Depreciation 518 1,133 691 691 329 219 253 494 156 844 3,050 798 235 181 516 1.281 2,875 1.271 Legal and professional costs: Accountancy fees Other legal and professional 500 60 560 500 30 530 30.241 19,730