Charity number: 1132644
LIVING CHURCH
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
LIVING CHURCH
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details of the charity, its trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 14 |
LIVING CHURCH
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 APRIL 2024
Trustees
Luciana Nigero Samuele Aru, Chair Sarah Abouelaz Angela Saraceno Innocenzo Magri Grazia Gioia Mazzara
Charity registered number
1132644
Principal office
50 Larkspur Court, Rectory Park, Northolt, Middlesex, UB5 6WW
Accountants
GIL Accountancy Services, 177, Ballens Road, Chatham, Kent, ME5 8PG
Page 1
LIVING CHURCH
TRUSTEES' REPORT FOR THE YEAR ENDED 30 APRIL 2024
The Trustees present their annual report together with the financial statements of the charity for the 1 May 2023 to 30 April 2024.
Objectives and Activities
Policies and objectives
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit and in particular to its supplementary public benefit guidance on managing charity funds.
Activities for achieving objectives
The Church continue to engage members and community at large in its various programmes. Over the years the strength of the Church has been based on the sacrificial service of volunteers. This year is no exception. We whole-heartedly thank all our volunteers for their immesurable contribution during the year.
Grant making policies
The charity provides grants and welfare assistance to individuals and other charities as the trustees deem fit in accordance with their public benefit objectives.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
Principal risks and uncertainties
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Structure, governance and management
Constitution
The principal object of the charity is to advance the christian faith and also helping migrants to intergrate into UK society.
There have been no changes in the objectives since the last annual report.
Method of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Page 2
LIVING CHURCH
TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 30 APRIL 2024
Risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Trustees' responsibilities statement
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Trustees, on 26 February 2025 and signed on their behalf by:
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_________ 4 tp
Samuele Aru, Chair
Trustee
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Page 3
LIVING CHURCH
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 APRIL 2024
Independent Examiner's Report to the Trustees of LIVING CHURCH (the 'charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 30 April 2024.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Responsibilities and Basis of Report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 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 applicable requirements concerning the form and content of 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 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.
Signed: D Tabiri ACCA
Dated: 26 February 2025
177 Ballens Road, Chatham ME5 8PG
Page 4
LIVING CHURCH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2024
| Unrestricted funds Note 2024 £ Income from: Donations and legacies 2 144,467 Investments 3 90 Total income 144,557 Expenditure on: Charitable activities 6 148,160 Total expenditure 148,160 Net income / (expenditure) before other recognised gains and losses (3,603) Net movement in funds (3,603) Reconciliation of funds: Total funds brought forward 63,007 Total funds carried forward 59,404 |
Total funds 2024 £ 144,467 90 144,557 148,160 148,160 (3,603) (3,603) 63,007 59,404 |
Total funds 2023 £ 79,484 40 |
|---|---|---|
| 79,524 | ||
| 78,133 | ||
| 78,133 | ||
| 1,391 1,391 61,616 |
||
| 63,007 |
The notes on pages 7 to 14 form part of these financial statements.
Page 5
LIVING CHURCH
BALANCE SHEET AS AT 30 APRIL 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 11 | 22,867 | 4,189 | ||
| Current assets | |||||
| Cash at bank and in hand | 37,593 | 59,217 | |||
| Creditors:amounts falling due within one | |||||
| year | 12 | (1,056) | (399) | ||
| Net current assets | 36,537 | 58,818 | |||
| Net assets | 59,404 | 63,007 | |||
| Charity Funds | |||||
| Unrestricted funds | 13 | 59,404 | 63,007 | ||
| Total funds | 59,404 | 63,007 |
The financial statements were approved by the Trustees on 26 February 2025 and signed on their behalf, by:
4 tp
_________ Samuele Aru, Chair
The notes on pages 7 to 14 form part of these financial statements.
Page 6
LIVING CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
1. Accounting Policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
LIVING CHURCH constitutes a public benefit entity as defined by FRS 102.
1.2 Income
All income is recognised once the charity 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.
1.3 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 benefits 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 total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity 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.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
1.4 Tangible fixed assets and depreciation
Page 7
LIVING CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
1. Accounting Policies (continued)
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor vehicles - 25% Straight Line - Church Equipment 25% Straight Line
1.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
1.6 Cash at Bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.7 Liabilities 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 benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it 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 specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
1.8 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.9 Pensions
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
1.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity 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.
Page 8
LIVING CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
2. Income from donations and legacies
| Unrestricted funds 2024 £ Donations 129,338 Gift aid income 15,129 Total donations and legacies 144,467 Total 2023 79,484 |
Total funds 2024 £ 129,338 15,129 144,467 79,484 |
Total funds 2023 £ 79,484 - |
|---|---|---|
| 79,484 | ||
3. Investment income
| Unrestricted funds 2024 £ Investment income - other local investments 90 Total 2023 40 |
Total funds 2024 £ 90 40 |
Total funds 2023 £ 40 |
|---|---|---|
4. Direct costs
| Charitable donations Hospitality Travelling Church & Ministry expenses Stationery & printing Rent and hall hire Children's ministry Wages and salaries - Trustees Pension cost Subtotal Other direct costs Total 2023 |
Charitable Activities Other direct costs £ £ 29,262 - 3,863 - 4,985 - 6,228 - - 1,532 25,880 - 1,367 - 30,676 - 1,560 - 103,821 1,532 - - 103,821 1,532 49,017 244 |
Total 2024 £ 29,262 3,863 4,985 6,228 1,532 25,880 1,367 30,676 1,560 105,353 - 105,353 49,261 |
Total 2023 £ 22,006 13,062 1,374 2,684 244 8,601 30 - 1,260 49,261 10,800 60,061 |
|---|---|---|---|
Page 9
LIVING CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
4. Direct costs (continued)
5. Support costs
| Support costs | |||
|---|---|---|---|
| Charitable | Total | Total | |
| Activities | 2024 | 2023 | |
| £ | £ | £ | |
| Wages and salaries | 18,150 | 18,150 | - |
During the year ended 30 April 2024, the charity incurred the following Governance costs:
£ NIL (2023 - £NIL) included within the table above in respect of Charitable Activities.
£ NIL (2023 - £NIL) included within the table above in respect of Governance and administration.
6. Governance costs
| Unrestricted funds 2024 £ Accountancy fees 940 Computer and software costs 376 Sundry expenses 1,130 Motor expenses 9,030 Insurance 1,312 Subscriptions 635 Light & heat 1,421 Governance - depreciation - tangible fixed assets 9,813 24,657 |
Total funds 2024 £ 940 376 1,130 9,030 1,312 635 1,421 9,813 24,657 |
Total funds 2023 £ 882 102 977 7,207 465 1,575 638 6,226 |
|---|---|---|
| 18,072 |
Page 10
LIVING CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
7. Net income/(expenditure)
This is stated after charging:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Depreciation of tangible fixed assets: | ||
| - owned by the charity | 9,813 | 6,226 |
| Operating lease rentals | 1,460 | - |
Trustees received remuneration amounting to £30,676 in the current year (2023 - £10,800). During the year, no Trustees received any benefits in kind (2023 - £NIL). During the year, no Trustees received any reimbursement of expenses (2023 - £NIL).
8. Auditors' remuneration
The Independent Examiner's remuneration amounts to an Independent Examination fee of £ 500 (2023 - £ 400), and Other accountancy services of £ 440(2023 - £1,098).
Page 11
LIVING CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
9. Staff costs
Staff costs were as follows:
| Wages and salaries Other pension costs |
2024 £ 48,826 1,560 50,386 |
2023 £ 10,800 1,260 |
|---|---|---|
| 12,060 |
The average number of persons employed by the charity during the year was as follows:
| 2024 | 2023 | |
|---|---|---|
| No. | No. | |
| Staff | 3 | 1 |
No employee received remuneration amounting to more than £60,000 in either year.
10. Trustees' remuneration
During the year retirement benefits were accruing to 1,560 Trustees (2023 - 1,260) in respect of defined contribution pension schemes.
11. Tangible fixed assets
| Cost At 1 May 2023 Additions At 30 April 2024 Depreciation At 1 May 2023 Charge for the year At 30 April 2024 Net book value At 30 April 2024 At 30 April 2023 |
Motor vehicles £ 8,201 13,640 21,841 6,575 5,460 12,035 9,806 1,626 |
Church equipment £ 16,702 14,851 31,553 14,139 4,353 18,492 13,061 2,563 |
Total £ 24,903 28,491 |
|---|---|---|---|
| 53,394 | |||
| 20,714 9,813 |
|||
| 30,527 | |||
| 22,867 | |||
| 4,189 |
Page 12
LIVING CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
12. Creditors: Amounts falling due within one year
| Other taxation and social security Accruals and deferred income |
2024 £ 656 400 1,056 |
2023 £ - 399 |
|---|---|---|
| 399 |
13. Statement of funds
Statement of funds - current year
| Statement of funds - current year | |||
|---|---|---|---|
| Unrestricted funds General Funds - all funds Statement of funds - prior year General Funds - all funds Total of funds |
Balance at 1 May 2023 £ 63,007 Balance at 1 May 2022 £ 61,616 61,616 |
Income Expenditure £ £ 144,557 (148,160) Income Expenditure £ £ - - - - |
Balance at 30 April 2024 £ 59,404 |
| Balance at 30 April 2023 £ 61,616 |
|||
| 61,616 |
14. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2024 £ Tangible fixed assets 22,867 Current assets 37,593 Creditors due within one year (1,056) 59,404 |
Total funds 2024 £ 22,867 37,593 (1,056) 59,404 |
|---|---|
Page 13
LIVING CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
14. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Unrestricted funds 2023 £ Tangible fixed assets 4,190 Current assets 59,217 Creditors due within one year (400) 63,007 |
Total funds 2023 £ 4,190 59,217 (400) 63,007 |
|---|---|
15. Pension commitments
The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £1,560 (2023 - £1,260). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date.
Page 14