LIFEHOUSE MINISTRIES Charity Number: 1130081 Company Number: 6889092 ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
LIFEHOUSE MINISTRIES CONTENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Legal and administrative information Trustees Annual Report Independent Examinerfs Report Statement of Financial Actiwties Balan Sheet Notes to the financial ststements 7-13
LIFEHOUSE MINISTRIES REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 Charity number 1130081 Company number 6889092 Contact Address & clo The Lifehouse 46 King Harold Road Colchester Essex C03 4SE Trustees Mrs S V Newman - Treasurer & Chair Mr M R James - Trustee Ms S R Stephenson - Trust Independent Examiner Community 360 Winslews House High Street Colchester Essex, C01 1UG Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
LIFEHOUSE MINISTRIES TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Lifehouse Perfomiance and Achievement Re ort 2023-2024 In September 2023 we held another Fun Day for the local cornmunty. 300+ people attended making it the most popular event so far. In October 2023 we established a Youth Club at St. Cedd's staffed by a committed team of leaders. It was part funded by the local council. The group meets twice a month and we regularly have around 18 young people attend. In November 2023 we held a conference called 'Closerf. It VRS attended by around 50 people vtho were from different local churches. A number of people frorn Lrfehouse have been part of a team which have b&n running Spirit Cafe in Tiptree. presen Nights have been well attended and heavy with the presence of God. A 'Prayer for Colchesterf monthly meeting has been established which is seeing people from many drfferent churches coming together. real unrty. Go Sunday outings have been really positive with a good number of non-christians connecting. We have two groups meeting in bcal coffee shops and a men's breakfast which meets in a local pub. A number of us are involved in the Thursday cafe with Love Shrub End We regularty get around 80 people attending with an age range of 2-80 years old. Our Sunday Celebrations have been a real highlight. We have a growing number of people attending. God is touching and transforming people's lives and there is a tangible sense of His presence with us each ts'me we meet. Our focus for this coming year will be broken down into 4 areas. 1) The Pursurt of His Presence 2) Discipleship 3) Raising Up Leaders 4) Sacrifice FINANCIAL REPORT 2023124 Income was less than expenditure over the past year. This was mainty due to unexpected repairs needed to replace part of the Lrfehouse building roof in order to make the building watertight. £4.000 VRS transferred from savings to cover the cost. It was agreed by the membership to increase the salaries of Jon and Bec Taylor and pay them £6.792.50 per annum each for 10 hours perweek, a total of £13,585 from 1st April 2023. Mission Giving. We have continued to support three Charities, Christs'an Youth Outreach. Beacon House and Love in Action and make payments to them quarterty.
LIFEHOUSE MINISTRIES TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 In addition 1 OOA of our income is sent to cover our Affiliate Subscription to Catch the Fire. The Budget for 2024r25 is challenging but achievable. Income is expected to increase as our congregation grows. We are confident that we will be able to fulfil our aims forthe coming year. RESERVES The Charity continues to hold a reserve balance of 6.000 in unrestricted funds as a contingency to cover 2 months of operation. The Trustees consider that the fInanS of Lrfehouse Ministries are sound and that we have continued to meet our objectives over the past year. Statement of Trustee's SponSibl11t1eS The Trustees (vtho are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees, report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statement unless they are satisfied that they gtve a true and fair VEW of the state of affairs of the company and of its incoming resources and application of resources, including its income and expendrture, for that period. In preparing these financial statements, the Trustees are required to: ' select suitable accounting policies and then apply them consistently, . observe the methods and principles of the Charf(ies SORP {FRS 102)", make judgements and accounting estimates that are reasonable and prudent.. ' state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial ststements" prepare the financial statements on the going concem basis unless it is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to sh¢)w and explain the companvs transactions and disclose with reasonable accuracy at any time the financial position 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. Approved by order of the members of the board of Trustees and signed on the behalf by: S Newman (Chair of Trustees) b( hlu Date..
LIFEHOUSE MINISTRIES INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 I report on the accounts of Lifehouse Ministries for the year ended 31 March 2024 which are set out on pages 5 to 13. Respective responsibilities of trustees and examiner The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011 (The Act) but that an independent examination is needed. It is my responsibility to.. Examine the accounts under section 145 of the Charities Act, To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Charities Act, and To state whether particular matters have come to my attention. Basis of independent examiner's Statement My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes considerations of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In the course of my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect: the accounting records were not kept in accordan with section 130 of the Charities Act; or the accounts did not accord with the accounting records. or the accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. I 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. Shelley-marie Rudling FMAAT AAT Community360 r and on behalf of: Winsley's House, High Street, Colchester, Essex Date 1411112024
LIFEHOUSE MINISTRIES STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 2024 2024 2023 Notes Incoming resources Incoming resources from generating funds.. Donations and legacies Other income 34,770 1,116 35,886 34.770 1,116 35,886 33.606 473 Total incoming resources 34.079 Resources expended Charitable activities Giving Other charitable activities Total resources expended 4,800 37.553 42,353 4,800 37,553 42.353 4,800 36,608 41.408 Net incomel(expense) for the year (6.467) (6,467) (7.329 Reconciliation of funds Total Funds BIFwd 144.318 91 144,409 151.738 Total Funds CIFY 137,851 91 137.942 144,409 The notes on pages 7 - 13 fomi an integral part of these financial statements.
LIFEHOUSE MINISTRIES BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 110,931 112,833 Current assets Cash at bank and in hand Debtors 23,025 4.411 27.436 28,068 4,129 32.197 Creditor&: amounts falling due within one year 425 621 Net current assets 27,011 31,576 Total assets less current liabiliti85 137,942 144,409 Totsl net assets 137,942 144,409 Funds Unrestricted income funds Restricted income funds 12 12 137,851 91 144,318 91 144.409 137.942 For the year ended 31 March 2024 the charity was entrtiled to exemption from audit under section 477 of the Companies Act 20{ relating to small companies. Directors responsibilities The members have not ruired the company to obtain an audit of its financial statements for the year in question in accordan with section 476 of the Companies Act 2006; The members ad(nowledge their responsibilttes for comptying with the requirements of the Act wrth respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applr£ble to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and were authorised for issue. They are signed on behalf of the board by". Signed Date I li. S Newman Chair of trustees
LIFEHOUSE MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 General Information The charity is registered as a private charitable company limrted by guarantee, registered in England & Wales, 2 Accounting policies 2.1 Basis of preperation of financial ststements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charrties.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 201%. Lrfehouse Ministrtes rntS the definition of a public benefrt entty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the retevant accounting policy. The financial statements do not include a cash flow statement become the charity, as a small reporting entrty, is exempt from the requirement to prepare such a statement under Financial Reporting Standard 1 "Cash flow ststements" 2.2 Income All income is recoginised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably, Income tax recoverable in relation to donations received under gift aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment is receivabfe. Other income is recognised in the peri¢xI in which it is receivable and to the exterrt the goods have been provided or on completion of the servi. 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefrts will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the totsl of direct costs and shared costs, inclLsding support costs involved in undertaking each activty. Direct costs attributabte to a single actNty are allocated directly to that activty. Shared costs which contribute to more than one activty and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charf(able activities is incurred on directly undertaking the activrties which further the companls objectNes, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional. such grants being recoginised as expenditure when the conditÉons attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT.
LIFEHOUSE MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2 Accounting policies (continued) 2.4 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company- this is nomially upon notification of the interest paid or payable by the institution with whom the fvnds are deposited. 2.5 Tangible assets and d8preciation Tangible fixed assets are initially recognised at costs. After recognition, under the cost model. tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impaimient losses. All costs incurred to bring a tangible fjxed asset into its intended working condition should be included in the measurement of cost. At each reporting date the company assesses whether there is any indication of impaimient. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impaiment loss is r8cognised where the Carrying amount exceeds the recoverable amount DepreciatFon is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. using the straight-line methc41. Depreciation is provided on the following bases: Freehold Property building works Equipment straight line over 50 years straight line over 3 years 2.6 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepanents are valued at the amount prepaid net of any trade discounts due. 2.7 Cash at bank and In hand Cash at bank and in hand includes cash and short-temi highty liquid investrnents with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.8 Liablilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefrt will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or servi$ rt must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts. discounted at the pre-tax discount rate that reflects the risks specffic to the liability. The unwinding of the discount is recognised in the Statement of Financial Activtties as a finance costs. 2.9 Financial instruments The company only has financial assets and financial liabilities of a kind that qualty as basic financial instruments. Basic financial instruments a initially recognised at transaction value and subsequently measured at their settlement value wrth the exception of bank loans which are subsequently measured at amortis&J cost using the effeckn've interest method.
LIFEHOUSE MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2.10 Fund accounting General funds are unrestricted funds which are avaliable for use at the discretion of the Trustees in furtheran of the general objectÉves of the company and which have not been desFgnated for other purposes. Designated funds comprise unreslricterj funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specrfic restrictions imposed by donors or which have bn raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allated to the appropriate fund. 3 Donations and legacies 2024 2024 Unrestricted Restricted 2024 Total 2023 Donations and offerings 34,T70 34,TTO 33,606 34,770 34,770 33,606 4 Other incoming resources 2024 2024 Unrestricted Restricted 2024 Total 2023 Total Other unrestricted income Investment income 619 497 619 497 300 173 1,116 1,116 473 5 Analysis of grants Grants to Institutions 2024 Total funds 2024 Totsl funds 2023 Love in Action Beacon House Christian YoLrth OLrtreach 1.200 1.200 2,400 1,200 1.200 2,400 1,200 1.200 2.400 4,800 4,800 4,800
LIFEHOUSE MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 6 Analysis of charitable activities expenditure Grant funding of Support activities costs 2024 2024 Charitable activities 2024 Total funds 2024 Total funds 2023 Advancing Christian religion Relieving need, hardship & suffering worldwide Education & training Govemance Love in Action Beacon House Christian Youth Outreach 19.901 19,901 19.218 792 792 714 14.lJJ7 2,852 14,007 2.852 1,200 1.200 2.400 42,353 13,673 3,003 400 2,000 2,400 41,408 1,200 1,200 2,400 4,800 20,693 16,860 Total 2023 19,932 4.800 16,676 41,408 Anatysis of costs Charitable activities Advancing Relieving Christian need & Religion hardship 2024 2024 Su ort costs Education & training Govemance 2024 2024 Totsl funds 2024 Total funds 2023 Human resources Ministry costs Buildings Admin, misc & depreciation Governance costs 5,834 7,353 5,089 7,292 13.127 7,740 10.178 11,115 7,137 12,233 387 5.089 1,625 405 1,626 3,656 2,852 3,119 3,003 2,852 19,901 792 14,007 2,852 37,553 36,606 Totsl 2023 19,218 714 13,673 3,003 36,608 Support costs are allocated to different activities on a percentage basis - based on time for human resoUrS and ministry costs and usage for other costs. 7 Trustee remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £Nil) During the year ended 31 March 2024, no trustee expenses have been incurred (2023 - £Nil) 10
LIFEHOUSE MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 8. Tangible fixed assets Freehold Freehold Property Fixtures and Property Improvements Fittings Totsl Cost or valuation At 1 April 2023 Additions 84,053 32,758 7.263 124.074 As at 31 March 2024 84,053 32,758 7,263 124,074 Depreciation At 1 April 2023 Charge for the year 6,550 655 4,690 1,248 11.240 1,903 At 31 March 2024 7.205 5,938 13,143 Net Book Value At 31 March 2024 84,053 25,553 1,325 110,931 At 31 March 2023 84,053 26.208 2,573 112,833 The freehold property from which the charity operate was transferred to the company in 2009 by Kingsland Church Trust at nil consideration, as a gift in kind. The amount recognised at the time, as a donated fixed asset, was £83,000. This property is not depreciated. Associated land transfer costs are included in the cost of property. Further building works have increased the cost of the freehold propety seen in the total above, since this date. In the trustees, opinion. depreciatron applied to the building works fairly reflects the carrying value of the overall propety. 9. Debtors Total 2024 Total 2023 Due within one year Other debtors - gift aid - recoverable Prepayments 4,273 139 4,411 4,004 125 4,129 10. Creditors Total 2024 Total 2023 Falling due within one year Accruals and deferred income 425 425 621 621 11
LIFEHOUSE MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Statement of funds Unrestricted funds Prior year Asat Expenditure adjustment 31-Mar-24 314aar-23 Income General Funds 144,318 35,886 42,353 137.851 Total Unrestricted Funds 144,318 35,886 42,353 137.851 Restricted funds Transfer of funds 31-Mar-23 Income Expenditure 31-Mar-24 Jenny Lamb Toronto 70 21 70 21 91 91 The designated fund is set aside for future building works. 12. Analysis of net assets between funds Unrestricted Restricted funds funds 2024 2024 Totsl funds 2024 Tangible fixed assets Current assets Credrtors due within one year 110,931 27.345 425 137,851 110,931 27,436 425} 137,942 91 91 13. Related party transactions The total aggregate of donations received from truStSIre1ated parties was £2,440 (2023.. £2,440). 12
LIFEHOUSE MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 S Previous year ststement of financial activities 2023 2023 2023 Notes Incoming resources Incoming resources from generating funds.. Donations and legacies Other income 33,606 473 33.606 473 Totsl incoming resources 34.079 34,079 Resources expended Charitable Activities Giving Other charitable activities Total resources expended 4,800 36,608 41,408 4,800 36,608 41,408 Net incomel(expense) for the year 7,329 7,329 Prior year adjustrnent Reconciliation of Funds Totsl Funds BIFwd 151,647 91 151,738 Totsl Funds CIFwd 144,318 91 144.409 A ststement of financial activities for 2023 is shown here for comparative purposes as per Charity SORP regulations. 13