Charity registration number 1134286
Company registration number 05315859 (England and Wales)
## LIFEPOINT CHURCH
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
LIFEPOINT CHURCH
## CONTENTS
||Page|
|---|---|
|Trustees’ report|1-6|
|Statement oftrustees’ responsibilities|7|
|Independent examiner's report|8|
|Statement offinancial activities|9|
|Balance sheet|10|
|Notestothefinancialstatements|11-26|
## LIFEPOINT CHURCH TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022
The trustees present their annual report and financial statements for the year ended 31 March 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “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
## Vision, Mission and Values
## Our Vision
Our vision is to serve our city and our communities by working in partnership to enrich and energise neighbourhoods, families and individual lives. We want to make a difference one life at a time, emotionally, mentally, socially, financially, physically and spiritually, until we see:
## One thousand transformed lives across Southwest Wales.
## Our Mission
We seek to achieve this vision practically by pursing the church's five-fold mission statement:
## Feed the hungry
Heal the broken
Seek the lost Sow to the nations Live like family
How we fulfil those five mission statements on a day-to-day basis is described below.
## Our Values
As we pursue our vision and fulfil our mission we pledge to stay true to the charity's three core values: to do everything relationally, passionately and spiritually.
For us operationally that means that we seek to lead every aspect, project, department and function of church life in a way that is people-minded, heart-felt and Spirit-led.
All of the above can be summarised in four words that are of significance to us in the LifePoint family: “Love Looks Like Something.”
## Feed the Hungry
We have continued to offer spiritual and material help to those who are facing difficult times. This has especially involved the supply of food to families and individuals in Townhill and Mayhill, areas which contain 5 of the 11 most deprived areas in Swansea - and on the economically challenged Garth Estate in Haverfordwest. From its base in Swansea, LifePoint is one of the distribution centres working under the banner of Swansea Food Bank, a branch of the national charity Trussell Trust. In the period between April 2021 and March 2022 the Foodbank gave out 7,795kg of food. These food parcels reached 876 adults and 386 children - a total of 1,262 individuals. In total, the citywide team of Trussell Trust Food Banks with whom we serve was able to feed 11,432 individuals during the year. It has been an honour for us to play a part in this life-saving enterprise during these days of unprecedented anxiety and challenge.
Meanwhile as part of the church’s own related HOPE Project, personalised food hampers distributed directly to people’s homes totalled 62, a 24% increase on the previous year, reflecting the gradual easing of lockdown restrictions during the 12-month period. We also continued to provide a weekly food bank in Mayhill.
we
## LIFEPOINT CHURCH TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
## Heal the broken
We aim to pray for and support people who are facing sickness or 'brokenness' in life generally: our aim is to help them recover health and dignity. We want to stand with people who have been troubled in body, mind, relationships or finance to see them restored, strong, whole, free and reconciled. We partner with one local school in particular in supporting disadvantaged families that are receiving input from Swansea's Team Around The Family project. Public benefit includes speeding people's recovery from physical and mental illness. In partnership with the local charity, Eli Project, we continued to offer specialised support and companionship to families in the region who have children with additional needs. Members of the church helped to staff special Family Nights for this community and, when lockdown allowed, we re-commenced the weekly KidsStop sessions at the LifePoint Centre to which parents can bring their additional needs children and find professional guidance and personal friendship.
## Seek the lost
We aim to be a guide to those who may have lost their way in life or lost their faith. We support people practically to get back on their feet and also offer to help people find a personal faith that helps them through the challenges they face. We have been able to run two Alpha courses for those seeking spiritual guidance — these have reacheda total of 12 individuals.
We also continued to reach beyond our traditional in-person congregation by uploading our messages and meetings to a much wider online audience. Weekly meetings were broadcast live via Zoom to the homes of people who were unable to attend a church meeting in-person, and every week specially recorded messages are also uploaded via social media to provide help and inspiration further afield. To accompany this we re-developed the church's website so that it reflects accurately the four-campus model of church that we have developed in recent years. To facilitate all of the above, we continued contracting with an external media specialist and from September, employed on a short-term contract, a technologically-skilled part-time staff member with an IT-related degree and an extensive range of skills.
## Sow to the nations
We aim to make a difference to people living across the World. We want to embrace, enrich, learn from, befriend and support people of many different cultures and backgrounds and play our part in making the world what it was designed to be. We care for all of God's world, both the people and the planet, and want to protect and help our environments and our communities. Public benefit includes supporting financially those who are able to visit and help underdeveloped countries or those that have suffered a disaster; offering welcome and hospitality to visitors from abroad, encouraging a loving and tolerant world-view, and supporting initiatives to enhance and protect the beauty and cleanliness of the natural environment. An example is the support we give monthly to the international charity, Ministries Without Borders, which offers humanitarian and spiritual support to nations as diverse as Cuba, Belarus, Philippines, India, Kenya, South Africa and Bhutan. We also developeda relationship with a pastor in Telangana, India, who cares for many orphans, widows and leprosy sufferers. Some members of the church have sought to give financial support to his projects.
## Live like family
LifePoint is a vibrant growing multicultural community consisting of people from many different nations and generations. During this financial year, the number of adults committed to play a part in our four campuses in Swansea, Mayhill, Neath and Haverfordwest, grew from 198 to 228, a 15% increase. With children and teenagers, the core church family now totals more than 300 people.
Our aim is to be an example of a community of people who support each other as an extended family of friends. We seek to see young and old, rich and poor, respecting and caring for one another and sharing the experiences of life together through good days and bad. Public benefit includes building strong relationships and support structures that enhance communities and minimise isolation.
All five aspects of the church’s mission — Feed, Heal, Seek, Sow and Live — have been enriched in this year by the continued operation of the full staff team. This now includes four full-time pastors, one part-time pastor, one part-time administrator and one part-time supporting our media presentation on a short term contract. The full time & part time staff members in Haverfordwest joined the team In April 2021 on a 3 year contract and are financially supported in part from the Haverfordwest restricted fund.
a
## LIFEPOINT CHURCH
## TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Each year one new University graduate also joins the team on a 12-month basis as a full-time voluntary Leadership Intern. In the last year, families in church offered a room in their homes to successive interns to make this possible, free of charge, with a payment from LifePoint for food.
## Review Processes
The charity reviews its vision, aims, objectives and activities each year, looking at what it achieved and the outcomes of its work in the previous twelve months. The review looks at the success of each key activity and helps ensure the aims, objectives and activities remain up to date. The Charity Commission's general guidance on public benefit has been referred to when reviewing aims and objectives and in planning future activities to ensure they conform with that guidance.
The website, www.lifepoint.org.uk continues to profile our work in the community and support our communication. Online activities for the coming year will provide the platform for us to continue to deliver our vision & mission.
## Achievements and performance
## Training Initiatives
The Leadership Intern programme (L3) offers targeted personalised development to one young leader each year. In the last year we also completed an excellent 12-month Leadership Development Programme designed specifically to train our front-line leaders from across the four campuses, both paid and voluntary.
## Community Initiatives
## The Alpha Course
This internationally used course communicates the central beliefs of Christianity in a forum where anyone can examine and discuss issues of life and faith. Attracting a wide range of participants from the local community, the course has made an important contribution to the continued growth of LifePoint Church.
## H.O.PE.
This project highlighted in the Mission Statement, the title of which represents Helping Ordinary People Everywhere, provides practical help to some of the neediest people in Swansea. Tailored to meet individual needs as they arise, it includes such things as food hampers, baby hampers, children's clothing, household repairs and other provisions to needy families or individuals and enhancing the environment in local primary schools — for example, we provided new indoor plants for a learning area and a climbing plant in a school playground to mark the school’s royal Platinum Jubilee celebrations.
## FL Exercise
This runs weekly for ladies who want to develop their fitness, balance and health.
## LifePoint Ladies Running Group
This runs weekly for beginners and intermediates, including those who enjoy support and encouragement for a Park Run. A few have completed 10K races, half-marathons and full marathons, supported by the group.
## Wider Local Involvement
In addition to these specific projects, the church encourages many individual members to express their faith by becoming involved personally in other community initiatives. Some ongoing areas of involvement include money advice, supported by CAP (Christians Against Poverty), pregnancy advice, counselling and Street Pastors. Direct support and care has also been provided for individuals with more specific needs, such as those with addictions or other life-controlling habits, or people who are facing bereavement or serious illness, including mental health issues. Although these various projects are not connected to the charity, LifePoint Church provides pastoral support to those involved in these areas.
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## LIFEPOINT CHURCH
## TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
## Student Initiatives
Since Swansea hasa significant student population, the church has continued to promote its work in this area. We welcome both British and International students to the city and offer mentoring, meals, social occasions and opportunities to give back to the city.
## Intemational Projects
The church is part of a network of churches (see note 8 to the accounts) that have allowed us to contribute to the work of a number of people and projects in several parts of the world. Regular support is provided to a number of individuals who are involved in promoting the Christian faith in several other nations as well as our own. In addition, the church continues to provide support for a number of international projects in a variety of ways including raising funds and making donations. These are regularly reviewed to ensure that our involvement continues to be in furtherance of our specific charitable objectives.
## Financial review
## Principal funding sources
The charity relies upon voluntary donations from the generosity of both members and friends. It is also able to reclaim gift aid from H M Government.
The charity has sufficient funds to meet all its financial requirements and to fund all current projects. Additional cash balances will need to be accumulated in order to maintain and develop the building now owned and occupied. At trustees’ meetings, the charity monitors income and expenditure on a monthly basis in order to determine that its needs are effectively met and that income reserves are increasing at a rate that aligns with project timetables.
The trustees have general investment powers which are restricted to the assumptions that all investments are made in ‘good faith' and that professional advice is sought. The charity has no investments.
Grants are made to individuals or organisations which either are undertaking activities that are similar in nature to the charity's objectives or those whom the trustees deem to be in need or suffering hardship.
## Income and expenditure
The charity made an overall surplus of £73,392 for the year ended 31 March 2022 of which a surplus of £62,649 was unrestricted and a surplus of £10,743 was restricted.
Total incoming resources for the year were £364,033. The largest contributions to this income were the tithes and offerings of £262,554 followed by £61,439 of gift aid that was reclaimed. The largest individual item of expenditure included in total resources expended of £290,641, was salaries and wages (including direct ministry support and expenses) of £160,554. At the balance sheet date unrestricted funds totalled £226,711, designated funds of £524,085 and restricted funds totalled £105,015. The free reserves of the charity are £226,731, not tied up in fixed assets.
## Reserves policy
The reserves policy aims to hold three months of expected expenditure in unrestricted reserves, additional to the value of tangible assets, in order to help the charity meet the unexpected more robustly. This would include amounts to cover any financial risks as well as short term fluctuations in incoming resources. The accounting policies of the charity are detailed on pages 13-16 of the accounts and include the charity's grant making policy. The level of available funds that were not tied up in fixed assets, as at the year-end was £226,731.
## Risk management objectives and policies
The trustees have carefully reviewed the major risks to which the charity is exposed and regularly discuss risk management throughout the year at its own meetings and at those with the leaders. Systems have been established to manage those risks, which includes good financial management and budgeting, supported by a review of our reserves policy. The most significant risks faced usually relate to building management and ownership & use of volunteers, including event management. During this financial year, trustees continued to give specific attention to the ongoing risks associated with Covid-19.
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## LIFEPOINT CHURCH TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
## Plans for future periods
continuedLifePoint Church owns and managesa facility known as The LifePoint Centre, and throughout the year we have to develop this so that it meets the needs of the local neighbourhood and the church community. As the country emerged from the Covid pandemic, the church in Neath & Jater Haverfordwest were able to resume their meetings in a community centre and school. We will continue to build these communities unfettered by Covid restrictions. We are working towards the church in Haverfordwest over the period of the pastors 3 year contracts to be in a position to continue their employment as the church and income grows. As Neath & Haverfordwest churches grow, we may need to consider alternative premises.
We are continually reviewing our organisation and administration to adapt to the changing membership and the increasing community involvement that represents, and have volunteer leaders in place to manage the refurbishment of the LifePoint Centre. In addition, specific funds continued to be gathered ready to meet further and deeper needs in the community through the development of our facilities and staff.
We continued to plan towards the goal of complementing our Food Bank and Fair Share provision in the Mayhill community with the availability of free children’s clothing and a pop-up café.
## Structure, governance and management
## Governing document
The charity is controlled by its governing document, Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## Recruitment and appointment of new trustees
Trustees are appointed by the resolution of a quorum of existing trustees. There is no external body that has the entitlement to appoint a trustee. All new trustees are given an induction. Trustees are appointed for the particular skills that are needed for the organisation and training needs are regularly assessed by the trustees and support is given when appropriate.
## Organisational structure
The charity operates primarily, but not exclusively, in South Wales having regular church meetings in both Swansea (Uplands and Mayhill), Neath and Haverfordwest, Pembrokeshire. As described above, LifePoint Church employs a part-time administrator, three full-time pastors looking after Swansea Central, Swansea Mayhill and Neath — and one and a half staff members in Pembrokeshire. In addition, many of our activities are carried out voluntarily by our committed and generous members, who make possible most of the good work of the charity. In terms of legal and financial affairs, the church leaders engaged on behalf of the Trust to work for LifePoint Church, led by Mr M Sutton-Smith, have decision-making powers for the day-to-day operations of the charity, within the delegated authority given by the trustees. Members of the trustee board meet regularly with the leaders to discuss matters affecting the charity, including the limitations of their decision-making ability. Decisions that affect the incorporated charity are made solely by the trustees themselves, in quorum.
## Related parties
In the pursuit of its objectives, the charity is a member of a network of churches entitled ministrieswithoutborders®, a related party and also a charity itself, which is detailed in note 21 to the accounts.
Be
## LIFEPOINT CHURCH
## TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
## Reference and administrative details
Charity number 1134286
Company number 05315859
Registered office The LifePoint Centre Ffynone Road Swansea SA1 6BT
Trustees M Freeman M Sutton-Smith , AN Brock-Homansresigned 10/11/21 S Inglesant- appointed 10/11/21 Company secretary A Brock - resigned 10/11/21 Independent examiners Azets Audit Services Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB
Bankers Unity Trust Bank 9 Brindley Place Birmingham B1 2HB
The trustees’ report was approved by the Board of Trustees. wo M Freeman Trustee Dated: nO p42. 20 22
## LIFEPOINT CHURCH
## STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2022
The trustees, who are also the directors of LifePoint Church for the purpose of company law, 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).
Company Law 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, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and 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; and
- 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 adequate accounting records that 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 Companies Act 2006. 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.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
aie
## LIFEPOINT CHURCH
## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIFEPOINT CHURCH
| report to the trustees on my examination of the financial statements of LifePoint Church (the charity) for the year ended 31 March 2022.
## Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of The Institute of Chartered Accountants in England and Wales which is one of the listed bodies.
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 _ the financial statements do not accord with those records; or
3. the financial statements 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
- 4 the financial statements 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).
| 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 financial statements to be reached.
## Sarah Case FCA DChA
Azets Audit Services
Ty Derw
Lime Tree Court
Cardiff Gate Business Park Cardiff
CF23 8AB
United Kingdom Dated: Wg d-d9 o>
Qe
## LIFEPOINT CHURCH
## STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022
|||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
|||funds|funds||funds|funds||
|||2022|2022|2022|2021|2021|2021|
||Notes|£|£|£|£|£|£|
|Income from:||||||||
|Donations and legacies|3|270,225|81,886|352,111|288,558|61,220|349,778|
|Charitable activities|4|-|-|-|-|10,000|10,000|
|Other trading activities|5|41,142|-|11,142|7,435|-|7,435|
|investments|6|780|-|780|2,606|-|2,606|
|Total income||282,147|81,886|364,033|298,599|71,220|369,819|
|Expenditure
on:||||||||
|Charitable activities|7|216,106|71,143|287,249|314,839|20,483|335,322|
|Other|12|3,392|-|3,392|-|-|-|
|Total expenditure||219,498|71,143|290,641|314,839|20,483|335,322|
|Gross transfers between||||||||
|funds||-|-|-|28,983|(28,983)|-|
|Netincomeforthe year/||||||||
|Netmovement in funds||62,649|10,743|73,392|12,743|21,754|34,497|
|Fund balances at 1 April|2021|688,167|94,272|782,439|675,424|72,518|747,942|
|Fund balances at 31 March||||||||
|2022||750,816|105,015|855,831|688,167|94,272|782,439|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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## LIFEPOINT CHURCH
## BALANCE SHEET AS AT 31 MARCH 2022
|||2022||2021||
|---|---|---|---|---|---|
||Notes|£|£|£|£|
|Fixed assets||||||
|Tangible assets|13||524,086||544.418|
|Current assets||||||
|Debtors|14|69,896||54,405||
|Cash at bank and in hand||414,421||344,061||
|||484,317||398,466||
|Creditors: amounts falling due within||||||
|one year|16|(21,697)||(20,803)||
|Net current assets|||462,620||377,663|
|Total assets less current liabilities|||986,706||922,081|
|Creditors: amounts falling due after||||||
|more than one year|17||(130,875)||(139,642)|
|Net assets|||855,831||782,439|
|Income funds||||||
|Restricted funds|18||105,015||94,272|
|Unrestricted funds||||||
|Designated funds|19|524,085||544,418||
|General unrestricted funds||226,731||143,749||
||||750,816||688,167|
||||855,831||782,439|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022.
The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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The financial statements were approved by the Trustees on GA2-252r
11, a
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M Freeman
Trustee
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## Company Registration No. 05315859
«46%
## LIFEPOINT CHURCH
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
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1 Accounting policies
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## Charity information
LifePoint Church is a private company limited by guarantee incorporated in England and Wales. The registered office is The LifePoint Centre, Ffynone Road, Swansea, SA1 6BT.
- 1.1. Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
- 1.2. Going concern
The charity's free reserves at as 31st March 2022 totalled £105,015 due to a significant amount of its reserves being tied up in fixed assets. The charity is looking at various ways of generating additional unrestricted income to look to increase its free reserves position in the future.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
- 1.3. Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## 1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Assets for distribution are recognised only when distributed. Assets given for use by the charity are recognised when receivable. Stocks of undistributed donated goods are not valued for balance sheet purposes.
Much of the work of the charity is carried out voluntarily by its membership. No value has been placed on these services.
-W-
## LIFEPOINT CHURCH
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
## 1 Accounting policies
## (Continued)
Grants receivable are treated in different ways dependent upon their purposes and the terms of the grant.
Grants receivable for the specific purpose of purchasing fixed assets for the continued use of the charity are treated as restricted funds. Once grant conditions have been fulfilled amounts are transferred to unrestricted funds.
Grants receivable for specific purposes are also treated as restricted funds so that any unused funds can be separately identified.
Grants receivable to facilitate the general running of the chariity i.e. where the trustees can choose how the funds are expended, are treated as unrestricted funds.
Rental, conference and residential income is recognised in the period to which the service is provided with any amounts received in advance being deferred.
Interest is recognised when it is received.
- 1.5 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Expenditure on charitable activities includes all costs relating to the furtherance of the charity's objectives as stated in the trustees report and their associated support costs.
Costs are allocated between activities on a percentage basis as agreed by the trustees.
Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
Grants payable without performance conditions are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
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.
## 1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings not depreciated Freehold buildings 10 to 50 years straight line basis Fixtures and fittings 10% - 20% straight line basis
= 42x
LIFEPOINT CHURCH
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
- 1 Accounting policies
## (Continued)
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## 1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## 1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## 1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
## Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
Pa ie ae
## LIFEPOINT CHURCH
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
## 1 Accounting policies
## (Continued)
## 1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## 1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## 2 Critical accounting estimates and judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## 3 Donations and legacies
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
||funds|funds||funds|funds||
||2022|2022|2022|2021|2021|2021|
||£|£|£|£|£|£|
|Donations and gifts|270,225|81,886|352,111|288,558|61,220|349,778|
|Donationsand gifts|||||||
|Tithes and offerings|187,740|74,814|262,554|188,916|61,220|250,136|
|Special offerings|19,216|-|19,216|24,878|-|24,878|
|People and Places fund|180|-|180|110|-|110|
|Gift aid reclaimed|61,439|-|61,439|53,996|-|53,996|
|Donated good, services|||||||
|and facilities|-|-|-|10,000|-|10,000|
|Building fund|1,650|1,360|3,010|2,750|-|2,750|
|HOPE|-|5,712|§,712|5,093|-|5,093|
|Youth|-|-|-|2,815|-|2,815|
||270,225|81,886|352,111|288,558|61,220|349,778|
-14-
## LIFEPOINT CHURCH
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
## 4 Charitable activities
**----- Start of picture text -----**
|||||
|---|---|---|---|
|2022|2021|
|£|£|
|2022|2021|
|£|£|
|Grants|-|10,000|
|Performance|related|grants|
|HESED|Trust|-|10,000|
|-|10,000|
**----- End of picture text -----**
5 Other trading activities
**----- Start of picture text -----**
||||||
|---|---|---|---|---|
|Unrestricted|Unrestricted|
|funds|funds|
|2022|2021|
|£|£|
|Rental|income|3,420|2,758|
|Miscellaneous|income|Ut22|4,677|
|Other|trading|activities|11,142|7,435|
**----- End of picture text -----**
## 6 Investments
Interest receivable
**----- Start of picture text -----**
|||
|---|---|
|Unrestricted|Unrestricted|
|funds|funds|
|2022|2021|
|£|£|
|780|2,606|
**----- End of picture text -----**
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## LIFEPOINT CHURCH
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
## 19 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
|||||||Movement in funds|Movement in funds||
|---|---|---|---|---|---|---|---|---|
|||1|Balance at
April 2020|Transfers|Balance at
1 April 2021|Incoming
resources|Resources
Balance at
expended 31 March 2022||
||||£|£|£|£|£|£|
|Fixed|assetfund||-|544,418|544,418|-|(20,333)|524,086|
||||-|544,418|544,418|-|(20,333)|524,086|
## Fixed asset fund
Relates to the net book value of the charity's unrestricted fixed assets.
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## LIFEPOINT CHURCH
## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
## 21 ~=&Related party transactions
The charity is a member of a network of churches ‘ministrieswithoutborders' whose charity registration number is 1095446 and whose principal office is PO Box 4252, Cardiff, CF1 8FA.
During the year grants totalling £19,170 (2021: £24,703) were made to ministrieswithoutborders. These grants were seen as support to a connected charity which is fulfilling objectives similar in nature to those of LifePoint Church. The amounts outstanding at the year end totalled £5,970 (2021: £5,400).
## 22 Other financial commitments
At the year end the charity had intentions to support a number of individuals and organisations to whom the trustees have promised ongoing financial support, until the nature of the recipients work changes significantly in some respect. Whenever a significant change occurs a re-assessment of support is undertaken by the trustees.
The charitable ministry support (to include expenses) paid during the year as a result of such commitments totalled £79,852 (2021: £84,812) and was paid by monthly instalments.
The charitable grants paid to Ministries Without Borders during the year as a result of such commitments totalled £19,170 (2021: £25,078).
£5,970 relating to the above intentions were held in the balance sheet at the year end (2021: £5,400).
-26-