Chavlty reglstrntion number 1134286 Company reglslrntlon nUfflr 053158591England and Wal) LIFEPOINT CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 111111111 "ACUJA51S* 12101r2024 COMPANIES HOUSE
LIFEPOINT CHURCH CONTENTS ge Statemenl oftnffjtees. res[1185 IndeFendent ex•min8fs reFthI Statement ol finanul activibes 10 11 Notes to the financral statements 12-27
LIFEPOINT CHURCH TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 MARCH 2023 The trustee$ weserrt fvir annual rewt finarhial statements forthe year eth 31 IA1 2023. The financial statements have been prepared in a(tord8nce the a• Fdiryes sgt wt in note 110 the financial Stslements and compty t the tharTty's goveming dOrmen( Ihe Companie$ Act 2006 and "Accgunting and Reportirvj by Ch8rrties'. Statement of Reeommended PractKe a01tab to charities Pparing Ihgir aeLounts in accordanee Ythh the Financial Reporting Stsr•Jard applicable in the UK and Rewblic of Ireland (FRS 102) (effective 1 January 2019)". Obieclives and actlvities Vlslon. Mlsskn and Values Our Vlslon Our vision is to seNe (r tsty our communilies by TthirKJ in partnership to enrich and en8rgise neighbourhoods, families and individual Irves. want to make 8 ¢fference one Irfe at a ts"me. emoon211y. mentslly. socialty, finanually. physicalty and spirilually. until we see: One thousand trnnsfom7edlwes acn)ss SoUttwe W818s. Our Missio We seek lo gchieve this vision practilty by pwMrvJ the church's fvfrfold mission stalemerrt.. Feed the hungry He81 the bmken Seek the losl Sow to the nations Lrve likè family How we fulfil those five missron statements on a day-to• basis is descri bdow. Ourvalues As we wrsue our viSn ar luffil wr mission VR Wge lo stay true to the chèrity's three core values.. to do ovoi)rfhing rolationaty, po&Thatcty and swiituolty. For us operath"ona51y that mèans that seek to lead every aspect. project. dèpartment and fisnclion of chureh lile in è way Ihat is peopl&mirded. trart-fen and Spiiit-led. Al ofthe above can be summarised four wryds that e of slgnrfrte to u$ in the LrfePowrt famity.. "Love Looks Like Something." Achl¢v¢mgnts and pgrlorman Feed the Hungry We have eonlinu8d to offer swriluol and matwial help to those who are fatsng diffKutt twnes. Thi$ has especially involved the supply of fooil lo families and indrvKluals in Townhill and Mayhill, areas which contsin 5 of the 11 most dewived areas in Swansea- and on the economiealty challenged Garth Estate in Haverfordwesl. From its base in Swansea. LifePoint is one tsf the distrtbution centres [kIng under the banner of Swansea Food BanK branch of tr* national charrty Tntssell Trust. In the period between April 2022 arKJ March 2023 the Foodbank gave ¢)Lrt 1.065 food parcels 1749 from the LifeP¢>nl centre and 316 from Mayhill Community Centre). These food parcels ached a total of 2.343 individuals {compared with 1.262 the yevicmjs year, an 86% iwease.) The fc•)J reached 1.584 adults and 759 children). The increase seem5 lo have cL)incide(I the current rise in the cost of living and financial need. During this year we accomplished our lortrtefm goal of adding a popup café and children's dothing provision to the weekly Food Bank operation hosted at Mayhill Commurmty Centre.
LIFEPOINT CHURCH TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Vve have also ccvinued to partner 1h the nath)nal tharity. Far Share vthich supplies high qualty fresh fc4)d each week, donated from major supermarket dRins. to wvich the nutritiwl qualty and value of the fc¥)d parcds distributed at our Fwdbanks. Meanwhile as part of the church's obvn related HOPE ProJect. personalised food hampers distributed directty to people's homes lotslled 55 (compared 62 the wevious yearl and we also gave out 600 items of chiFdren's clothing to the resKlents of Mayhill. an initiatve thal had previousty been suspended durirKJ the k¢kd¢)wns associated wrth the Covid-19 outbreak. Also, this year the HOPE project was able to carFet an apartment for a refugee. recently tocaled to Swansea. clear 8 98rden for a local reg(lent and in partnership ith Ihe Enfys FOUndatn. fiJrnish homes for four new visitors to the o)unty. In Pembrokeshire the church is developing an allotment wtjich enables them to offer phystcal recreation in the outdoors lo the individuals they a but also an owJ1unty to istribute home-gr(y4n food. The Pembrokeshir8 church also engages weekly wlh the Fenton School communty. heln9 during the year with playground and garden developments, painting and refurbishment projects. reading activities for pupils and special events in the txjrriculum such as rxeparab.on sessrons for Year Six pupils antrapatir¥J the move to Secondary Sthcol. Members of the church have been asJ(ed to ser¥e w the PTA mMrtlee in order lo support the school on an ongoing basis. Hoal the broken We aim lo pray for and support people are facir¥J wd(nes5 or 'brokenne5s' in life generalty.. to help them recover health and dignty. We want lo sland wrth people who have been troubled in body. mind, relationships or finarKe to see them restored, strong. whole. free and rewnciled. We partner with Seaview School in Swansea supporting disadvanlage¢J familie5 that are receiving input from Swansea's Team Around The Family oject. Public benefit incIeS speeding people's recovery from phYCal and mental illness. In partnership with the local charity, Eli Project. we corrtinued to offer speciali5ed support arKI companionship lo families in the region who have children %wth additional needs. Members of the church helped lo staff 5pe¢ial Family Nights for this communty. Seek the lost We aim to be a guide to those ikno may hève 105t their way in Itfe or lost Iheir 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 nm Ah8 c4)Uf5es for those seeking spiritual guijance - these have reached a total of 12 individuals. We also continLEd lo reach beyorKI our tradiiional in-person c¢)ngregation by UOading our messages and meetings to a much wider ortrline aud*nee. meetings were b(oa¢Jcasl live via Zoom to the homes of Feople who were unable lo attend a church meeting IrrSOn. and specialty rerded messages are also uploaded via sooal media to provide help and inspiratson further affield. To facilitate all of the above. we ts)ntinued to employ. on a short-lerm contract, a tethnolts3ically-skiled part-ts.me staff member wth an IT- relale(I degree and an extensive range of th"Us. Sow to the nations Vle aim lo m8ke a diffeTence to people living across Ihe Ilknrkl. Vk want to embrace, enrich. leam from, befriend and support people of many dfftrent culiures and backgfounds and aY r part in rnaking the worfd what il was designed to be. care for all of God's worfd. tK)th the Feople and the planeL and want to protect and help our environments and our communrties. Public benefft includes SUPFQrting financialty those who are able lo visit and help undeidevdoped countries Of those that have suffered a disaster,. offering wetome and hospitality to vi&tors from abroad, encouraging a k)ving and tolerant woddview, and supporting initiatives lo enhance and protect the beauty arKI deanliness of the nara1 environment. An example is Ihe supp¢)rt we give monthly lo the intemational charrty, Ministries IMh(xrt B¢Nders. which offets hunanilari8n and spiritual support to nations as diverse as Cuba, Belarus, PhilIpne$. Ind. Kenya, South Africa and Bhutan. We also developed relationthp with a pastor in TelarrfJana, lThJr4. who cares for many ¢Nphan$, widows and leprosy sufferers.
LIFEPOINT CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 hlARCH 2023 SO membefs of the ¢tl¢h have sought lo give fin8noal sUpprt to ht¥ w¥ects. 0lh8rs have supported th8 work of Love Your Neighbour, a chènty that woths to help disa(fvants9ed Chdren and mothers porticulady in Kalifi, Kenya. Families there are given an opportunity to become fironualty sustainable by reeeiviry the gift of a goaL whose milk is available then use and for sale. Also. teenage girts there are helped with sanitary products lo enable them lo cryrtinue their sdwbing through the mfJ)Ih and mothers are laught swNing skills lo ènable them lo make a liwng. Finance has also been given to rwpport a kscal chanty to purthase generators in war tom Ukraine. lo provide power for l¢x COTnmwyts. Uve Ilke family LrfePoinl is a wbranl glowing multi11?1 CMunity consisting of people from many dlfferent nations and generations. Durirvj this financial year. the number of adults committed to play a part in our ftr campuses in Swansea Central. Mayhill. Nealh and HaVerf0rd gw frixn 228 to 247. an 8% irKrease. Wlh chiklren and teonagers. the ¢xre thurch lamily totals 350 peOe. Thi8 is snCent in that rt repfesents the first lime that we have been one third of the w t(y•rards to represent 1.1)00 lThlividuals across south.west ¥)tsles. Our aim is lo be an example of a community of people support each other as an eylended family of friends. We seek lo see young and okl and rich and poor respeding and carin9 for one another and sharin9 the experiences of life together through good dayE and bad. Public benefft indLKles buildw¥g strorvJ relationships and support struclures that enhance communities and minimise isolatton. All five aspects of the church's mission - Feed, Heal. Seek. Sow and LN8- have been enrithed in this year by the continued operation of the full stsff team. This now indude$ thfee full-time pastors. two part-time pastors. one part-lime administrator and one part-lime staff member suppNting our media presentation on a sh)rt-lerm contract. The staff members in Haverfor¢hvest joined the team in April 2021 on a >year eomrad and are financially supported in part from the Haverforifv4esl restricled fvnd. This arrangement will be reviewed In the coming year. Each year one new Unwersity graduate also InS the team on 0 12-month basis as a full-lime voluntary Leadership Inlem. Normally. farnilies in church offer a room in their homes to intems lo make this possible. flee of charge, with a payment from LifePoinl for food. However. this year payments made cOved rent, utility bills and fs)od in shared renled accommodation. Revlew Processes The charity reviews rts vision. aims, objectrves and activities each year. looking al what rt achwed and the outcomes of its work in the previous 12 months. Tr review looks at Ihe SeSS of each key activity and helps ensure the aims. ¢)bjectives and actNibes remain up io date. The Charity Commission's general guidance on public benefit has been referred to vthen Teviewng amg and 0.eCtIVeS and in planning future activities to ensure they conform wth that gui¢Jance. The website. continues lo profile our in the commurity and support our communication. Online activities for ts coming year wll provhle the atfOrM for us lo continue lo dèliver our vl%on & mission. Tralnlng Initiatives The Intem programme ttN"s year pmided a haff day th'supleship pn)gramme. Communlty Inltlatives The Alpha cou9 This intemationally used course communicates the central bdiets of Christs"anty in a forum wfiere anyone Can examine and discuss issue$ of lrfe and faith. Attrncb"ng a Trmde range of parttipants from the locèl community, the course has ma¢Je an important cA)ntribution to the continued gr(h¥th of LrfePoinl chth. H.O.P.E. This project highlighted in the MissiDn Statewt. the title of vthith represents Helping Ordinary People Everywhere. provides practical [p to some of the lIeSt people in Swansea. Tailored lo meet individual needs as they arise. rt includes suth things as foc1 hampers. baby hampeTS, children's clothing. hohOld repairs and other provisions lo needy families ry individuals and enhancing environment in kcal wmary schools - for example. we provided rw indc4y planls for a leaming area and a climbing plant in a school tAayground lo mark the school's royal PL3tinum Jubilee eelebrations.
LIFEPOINT CHURCH TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORn (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 FL EXOtse Thi5 runs vrtekly for ladies who want to ¢knlop filness. baknce A¥J health. Lrfep.nt L{9dS Runnirw Group This runs weekty for beginners and intermediales, induding who enjoy support and enUrageMenI for ? Park Run. Afew have completed 10K races, half-marathons and full maralhons. supported ty the 9roup. rLocal Involvemenl In addib'on lo these sp81ific projects, the thurch enccmjrages rnY indNKlual members lo express their faith by becoming involved personally in other communty inrtiab"ves. so ongoing areas of involvement include money advice. supported by CAP Ichrislians Against Povety). pregnancy advice. eounselling and Street Pastors. Direct supp)rt and care have also been prowded for indwiduals MO speufic needs such as those Vdith addIctn$ or other lrfe-contrlin9 hatmts, or peOe who are facing bereavement or serkws illness. includirg mental heatth issues. Although these vavious woiect5 are not connected to the charity. LifePoint Church provKles pastoral support lo those invofved in these areas. Student Iniliatwes sin Swansea has a signifieant student pUlation. the has crrtinued to promote its work n this area. We welcome bolh British and Inlemation81 studènts to the uty and offer mentoring. 1$. soual occasions and ¢)pportunities lo give back to the city. IntentIonal Pmjects The church is part of a of chwcts (see note 8 to the accounts) that have allowed us lo u)ntribute lo the work of a number of people and projects in several parts of the world. Regular SUPF)rt is provided to number of indiwduals who are involved in promotir¥J the Chri51ian farth in several other nations as well as our own. In addition. the church Continues lo provide support for a number of inlernalional projects in a variety of ways including raising fvnds and making donations. These are Tegularfy revbewed to ensure that our involvement continues lo be in frJrtherance of spechlc chantable obiectives. Fin8ncial revlew Prlnclpal lunding sourc•s The ch8rity relies upon lUntsry donalions frcth the generogty of t¥)Ih members and friends. 11 is also able to reclaim gift aid, from H M Govemmenl. The charity has sufficient fvnds lo meet all rts financial requirements and to fund ail CUTnt projects. Additionol cash balances wll need to be accumulaled in order lo maintain and develop the tyjilding now owned and occupied. A major refijrbishment project exiended & renewed the krtthen, whilst the tle15 were refreshed. A signrficanl investment of £20,1)00 was also made the purchase of a replacement main hall projector. The Swansea property was professionalty Valued as at 31.03.23. with a figure of £675,01)O, shoMng an increase of £100,CK)O from 2017. Al trustees. meetsngs. the charity monrtors Income and expendrtufe on a monthly basis order to determine thot its needs are effeclively met and that irthme reserves are increasing at a rate that aligns with project timetables. The accryjnting software was remodelled lo help ensure more timety management reports and ftom April 2023, a bookkeeper was uyntracted for one Jay a week to assist in the process. During the coming year thi$ approath will be reviewed to deterrnl orgoing surtabilty. The Iruslees have general investrnent pows are reslricted to the a$$umpts'ons that all Investments are made in'9ood faith. and that professional advice is sought. The charty has no investments. Grants are m8de to indivhluals or organisations thich erther are WNlertaking activib.es that are similar In nature to the cllarty's objectives or those whom iruslees deem lo in suffering hardship.
LIFEPOINT CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Income and •xpendlture The tharity made 0 £47.886 operational yJrplus for the year ended 31 March 2023 of which £16,246 was restricted. See note 19 for further detsil. Of the restri¢Xed suwus 9enernted. the result5 can be split as follow5.. LrlePoint Pembrokeshire.. defiot of £16.169 LrfePoint Nealh-. surplus of £31.941 Hope.. surplus of £114 Mayhill BuilthJ fund.. suu$ of£360 Total incoming resources for the year were £398.340. The lar9esl ¢trIbUon5 to this irKome were the lithes and offerings of £292,309 lollrmed by £62,363 of grfl aid that byas redaimed. Th8 largest individual item of expenditure included in total Tesourees expended of £350,454, wa5 salaries and wages (including direct ministry supwt and expenses) of £179.620. At tre tAlance Sheet dale unfestrKted funds lotalled £222.695. designated fiJnds of £713,403 and $tr funds lola1 £121.261. The free reserves of the charity are £222.695 not tied up in fixed assets. ReseNes poll¢y The reserves policy aims to IWJ 1The mcth$ of related exper¥lu n lestriCted reserves, atlthlional of the value of tangible assels. in order lo help the charty me81 Ihe unexFecled. This would include amounts lo cover any financial risks as well as short term flLKtuations in incoming resources. The accounting policies of the tharity are dfrtailed on pages 12-15 of the accounts and indude the tharity's grant maknng policy. The level of available funds not lied in fixed assets. as at the year-end was £222.695. The charty has ¢lear1y idenlified restricted funds. to ensure donows gbving is spenl according to their wishes. This especially enables the charty lo deploy or rèserve all the money 9iven for the work in Haverftydwest and Neath, shown in note 19 to the accounts. Risk managem•nt obl•¢llv•s and polkO•s The Iruslees regularfy review the risk register. calU11Y considering major risks to which t1¥2 charity is exposed and regularty discuss risk martagement Ihroughout the year al rts own meetings and al those •th the leadets. Systems have been established to manage those risks. whth includes g¢)od financial management and budgeling, supported by a review of our reserves policy. The m05t signTficant risks faced usually relate lo building managernenl and owneTship and use of volunteers. inejuding event management. During this financial year, trustees continued to give speufic attention to the ongoing risks associated wth Covid-19. Some safety measuTes and new ways ol organising church lrfe oTrline have remained in place even as the published risks of the p8rtdemic diminished so that our care for the church MmUnty and the surroun(h'ng neighbourhood can remain diliJ¢ 8nl arKI responsible. Pl•n$ forfuture p•rfods LifePoint Church owns and manages a facility knovm as The LrfePoint Centre. and through)ut the year we have continued lo develop this so that rL meets the needs of the local neighbwrhood and the thurch community. As the church communities in Swansea, Neath and Haverfor(twest grow. we may need lo consider alternative premises. The latter hvo curreftY meet in a C¢)mmunrty Centre and a Primary Sdwl. We are preparing for the eventuality that one or the other may need to acquire its thvn pemanent facility at some point. or that Swansea may also need to increase its meeting capacity. To this end the trustees in June 2023 designated a buikling lund of £150.000. We are continually revtewng our organisatKJn and administration to adapt to the changing membership and the increasin9 community involvement that represent and have volunteer leaders in place lo manage the refurbishment of Ihe LifePoinl Cenlre. In addition. Spe&f funds continued lo be gathered ready lo meet further and deeper needs in the commuThty thr thè development of ouf facilities and staff. Structur• govgrnanc• and m•nagem•nt
LIFEPOINT CHURCH TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Governlng documènt The charity is conliolled by its go¥emK dornent. Arlides of Assoc1. and cortststutes a limited company. Ilm¢ted by guarantee, as defined by ts CompaniesAct 2006. Recru5tment and appolntment of new trustees TnJstees are appointed by the resoluth"¢)n ol a quorum of exsting trustees. There is no external that has the enlitlemenl to appoint a trustee. Al r*w trustees are given an inducaion. Trustees 8re appointed for the particular skills that are needed for the Or9158t1On and tra.ning needs are regularty gssesse(I by the trust and support is given when appropriate. Organlsatlonal structure The charity operates primanly not exdusivety n South VIIa having regular chwch meetsngs in tx)th Swansea (Uplands and Mayhilll. Neath and Haverfordwest, PeMbrokeShi. As described above, Lif8Poinl Church employ$ a part-time administrator. Ihree full-time pastors l¢x)king after Swansea Central. Swansea Mayhill and Neath - and tsvo part time stsff membets in Pembrokeshire. In additi(, many of our actiwilies are carried out volunlarity by our commrtted and gerwous members. make possible most of the good work of the charity. In terms of legal and finanoal affairs, Ihe thuith leaders engage(l on behalf of Ihe Trust lo work for Lifepoinl Church. led by Mr M SUtiorSM1lh. wilhin the deWted authorty given by the ttustees have derywon- makt'ng powers for the day-to-day operations of the charity. Members of the twstee board meet regularty with the leaders lo discuss matters affecting the chanty, including the limrtalions of their de¢ision-making ability. Decisons that affect the incorwated charity are made solety by the trustee5 themselves. in quorum. Related partlos In the pursuit of ils obiectNe$. the ehanty is a member of a netwoth of churches entitled ministrieswlhoulborders@. a related party and also a charty itself. vthich is detailed in note 22 to the accounts.
LIFEPOINT CTrIURCH FOR THE YEAR ENDED 31 AV4RCH 2023. Reglthr•d •llk• IrKlelondent•x•mlry•rJ Lfjmè Trne Cowl Cwthff Gth knkness P¥ CF23 8hB Bank Unty"Trysi Bwk 9 8nRdley Plo¢& eirinryh8in 812H8 Th¢ truses' reptht ws appred ty thè Bo¥d d TrLtst•es. Twstee Dated..
LIFEPOINT CHURCH STATEMENT OF TRUSTEES. RESPONSIBILMES FOR THE YEAR ENDED 31 MARCH 2023 The trustees. who are also the direct$ of LifePo¥rt Churth for the purpose of company law. are resportsible for preporiro the Trustees, Report and the finanaal statements in accordm with appJvbJe law and United Kingdom Accountin9 Standards (United Kingdom GenerallyA(zepted Aco)unling Practice). Company Law wuires the twslees to wepare financial statements for eath finwal yew which give a true arrtl fair view Df the state of affairs of the tharrty and of the incoming TeTCtt and applicaknon of resources, rKluding the incoff and expendibn. crf the tharitable company for that year. In preparing trse financial slatements. the trustees are requred to.. . select witable accounling pIC and then them rA)nsi5tenUy. - observe the methods and princvjes in Ihe Charrties SORP: . make judgements and estimate5 that are rea$eble and prudent: - state whether applicable UK Accourting StarKlards have been lolkwRd. subject to any material departures disc105ed 8nd explair¢ed in the financial statements" and - prepare the financial statemerts on the g4xng Contem basis unless it 1$ inappmpriale lo presu that thg charity will continue in owatitin. The trustees are responsible for keeping adequate accounts'ng records that disdose with reasonable ac¢uracg at any lime the financial position of the charrty and enable them to ensuTe thal the finanual stslements comply with the Companies Act 2006 They are also responsible for safe9uarding the è5sets of the tharity and hence for taking reasonable $lep$ lor the prevenlK>n and d&ledion offraud and other iThe9u1arrt5. The trustees are SPonsible for the maintenance and integrity of the tt)arrty aTrJ finanual infomats.on iluded on the charity's websrte. Legistalion in the United KIngdC goveming the preparatitin arKI di8seminalion ol financial stalernents may differ frorn legislation in other jurisdTrctions.
LIFEPOINT CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIFEPOINT CHURCH I report to the trustees on my èxominoti¢)n of the f)anthal statements of LrtePoint Clyjrch (tr ¢Pority1 for the year ended 31 March 2023. Responslbllltles and b•¥l$ of report As the trustees of the charity land also its direclors for Ihe ppose$ of company law) are iesponsibte for the preparats'on of the financid statements in acCda ¥4ith the requirements of the CoMpareS Act 20C6 (the 20Q3 Act). Having satisfied mysew that the finanoal statements of the charity are not required to be aJrted under Part 18 the 2006 Act and are eligible frK independenl examinatn. I report w) respecl of my examination of the tharity's financial statements me{l out under seth'on 145 of the Charibes Ad 2011 (the 2011 Act). In carrying out my examinatson I have fdlowed all applicable Direcb.0 given by the Charity Commission under section 14515}(b) of the 2011 Ad. lfidepondènt examinefs statsrn•nt Since the charity's gr¢)ss income exceeded £250.000 YOLK exanwrr must be a m8Ththr of a bc listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of Ihe A$soQatn of Chartered CertrfffdAccountanls. wtbich is one ol the listed bodies. I have completed my examinalion. I confirrn that no matters have come to my attenti( in conne(alC wth the examination giving me Cause to believe that in ary material re5FecL" accounting records were not kept in SPe of the charity as required by seclion 386 of the 2006 Act: or the finartscial statements do not"accord wth those records: or the financial slalements do not CoMY the accwnting requirements of seclion 396 of the 2006 Act otheT than any requirement that the accounts give a InR and fair view is not a mattef nsIdered as part of an IsePendent examination" or the financial stalemenls have not been prepared in accordance vith the methots and princieS ol the Statement of Rewmmended Practice for accounts.ng and reporting by charities applicable lo charities preparing their auntS in accordance with the Finanaal Reporh"ng Standard applicable in the UK aThl RepLblic of Ireland (FRS 1021. I have no concerns and have come across no other matters in Comection with the examination Io byhich attention should bg drawn in this report in order to enab a woFer underst8nding of the finarKial statements to be reathed. Clalre Thompson DChA FCCA Azfrts Audlt Ser¥l¢es Ty Derw. Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB United KirvJdom
LIFEPOINT CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 ' Totsl unrestri Restrlcted funds funds 2022 2022 Total funds 2023 IndS 2023 2023 2022 Notes Donations and legacie$ Charitable activities Other trading activities Inve$tsnents 283,658 98.695 382.353 270,225 81.886 352,111 10.720 4.267 10.720 4.267 11.142 11.142 Total Incom• 299,645 98.695 398,340 282,147 81.886 364,033 Charitable 8¢Xivtties 268,005 82.449 350.454 216.106 71,143 287.249 Other 12 3,392 3.392 Totsl •xp•ndlture 268,005 82.449 350,454 219,498 71,143 290.641 Nel Incomlng resour$ 31,640 16,246 47.886 62,649 10.743 73,392 Other recognis•d gains and losses Revaluation of t8ngible fixed assets 153.642 153.642 Net movement In funds 185.282 16.246 201.528 62,649 10.743 73.392 Fund balances at 1 Apn'l 2022 750.816 105.015 855,831 688,167 94.272 782,439 Fund balances at 31 Mah 2023 936.098 121261 1.057.359 750.816 10S.015 855.831 The Slaternent ol finanual activrties inckKles all gains an¢J b055es recognised in the year. All income and erlitule derive from c£Jnb"nury activitie$. The statement of finaTh¢1 8ctivrties also D)mplw wilh the requinnents for an irmme and exFendilure account der the Companies Act 2006. 10-
LIFEPOINT CHURCH BALANCE SHEET (CONTINUED) ASAT31 MARCH 2023 2023 2022 Not•s Flxed assets Tangible 85sets 14 713.403 524.086 Curient assets Debtors Cash al bank and in hand 71,491 423.665 69,896 414,421 495.156 484,317 Credltors: amounts falling due within one year 16 P6.2571 (21.6971 Nel current assels 468,899 462.620 Total assets less current Ilabllllles 1.182,302 986.70S Crèdltors.. amounts lalling due after more than one year 18 {124.943) 1130,8751 Net assets 1.057.359 855,831 Income funds Reslri¢ted funds Un Designated funds General unrestrle funds Revaluation reseThe 19 121,261 105.015 20 713.403 69,053 153.642 524.OB5 226.731 936,098 750.816 1.057.359 855,831 The company is enlilled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023. Th? directors acknowledge their responsibilities for cOmplng wth the requirements of the Comparries Act 2006 with respect lo alUntIrj records and the preparabon ol financial statements. The members have not requiied the compèry lo obtwn an audit of ils finanoal statements for the year in weslion in attordance seth.on 476. These financial statements have been prepared in aCcOrdar vrith the provisions 8pplicable to companies subject to the small companies regime. the Ilmncwl Tii*t•• Company registration number 0531 S859 11
LIFEPOINT CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 A¢¢ountlng pollcl•s Charlty Infornwtlon LilePoint Church is a wvate company limited by guarantee irKorporaled in EWand Wal95. Thg registOTed office 15 The LbfePoinl Centre. Ffynone Ro>J. Swansea. SA1 68T. 1.1 A¢countlng convenllon The financial statements have been Fyepared in accordance the chanVs goveming d0Ment. the Companies Act 2006 and 'A¢coLmb"ry and ReFth'ng by Charities.. Statement ol Remmended Practice applicable to tharilies preparing their a¢wunts in accordarKe wlh the Finanual ReFKJrting Standard applicable in the UK aTrJ ReputAic of Ireland IFRS 1021 (effecbve 1 Jwuary 2019).. The charity is 8 Public Benefft Enlity as define¢J by FRS 102. The chaThty has taken advantage of the provi%ons in the SORP for dwrilies •Ying FRS 102 Update Bulletin 1 not lo prepare a Ststwnent of Cash Flos. The financwl statements are wepared in sterting, whth is Ihe lunctioMI oJrTency of Ihe ¢arity. Monetsry amounts in Ih&se financA81 slatements ale rcAwthd lo nea$1 £. The ffinancial stslemenls have been prepare*J under the histon'cal cost convention, modffied to ine the revaluation ol freehold properties. The prinapal acCoUntg pO"CAeS adopted a Sel out bebw. 1.2 Going concern The charity'5 free reserves al as 31$1 March 2023 totalled £750.816 due to 8 significant amount of its reserve5 being tied up in fixèd assets. The charity 1$ looking at various ways of generatin9 additional unrestricted income to look to increase its free reserves )sItion in Ihe future. Al the lime of approving the financial ststemenls, the trustees have a reasonable expectatron that the charty has adequate resources to continue in operakn'onal existence for the foreseeable fuluTe. Thus the trustees ¢ontinue lo adopt Ihe going c¢)rtem basis of accounting in preparirrfJ the financial ststements. 1.3 Charltable funds Unrestricte¢J lund$ are avaiLible for use at the discretion of the trustees in fijrtherance of their charitable objectives. Designaletj funds comprise fvnds which have been set aside at the discrelion of the trustees for SFecifi purposes. The poseS and uses of the designated furKls are set oui in the notes lo the finanual statements. ReStted fvnds are subjecl 10 SpeCrf conditions by donors as to how they may be used. The purNise$ and uses ol the resth.cted lunds are sel out in the notes to the finanual ststements. 1.4 Incomlng resource5 Income is iecognised the charity is legally entimed to il after any pertOTmènce conditsons have been met, the amounts can be rneasured Teliabty. and it is probable that ineLJme wll be iectived. Cash donalions are recogni5ed on rttp1. Other donations are recogni5ed on(8 the ¢tharty has been notified of the donation. unless pertomance rJ)FKlrtions TequiTe deferral of the amount. Income tsx recoverable in relation to donations received under GiftATrd or deeds ol covenant is reccgnised at time of the donatn. Assets lor distribution are recogrused only %then distributed. Assels gNen lor use by the charity are Tecognised when reCeivae. Stocks of unth"stritxrted dorwled goods a t valued lor balance sheet purpose5. Much of the work ol Ihe charity is carried oul voluntarily by its mbership. No value has bèen placed on these servi¢es. 12-
LIFEPOINT CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONmNUED) FOR THE YEAR ENDED 31 AIARCH 2023 Accountlng pollcles (Contlnuedl Grant5 recer¥able are treated n drfterent ways depend1 upon pun)5 and the tems of the grant. Gronls receivable for the speufic purFW of purthasing tsed assets for Ihe continued use of the charsty are treated 8$ restricted fwKls. OrKe grant COndonS have been luffild amounls are transferred to Lnrestrided funds. Grants receivable loi specific purposes are also treated as restrKthd fun¢ls that any unused funds tan be separatety idenlthed. Grants receNable to facilitale the general running of the charity i.e. Ihe trItee¥ choose how Ihe funds ore expended, are treated as unrestricted lund5. Renlal, conference arKI re%dential income is recognised in Ihe period to the servKe is Fyomded any amwnt$ received in athance being deferred. Interest 15 reeognised w•hen rt is received. 1.5 Resources expendod Expenditure is regniSed once the is a *gal or conslruthe obligati.on lo make a payment to a third paty. il 18 Pfobable that setuement will be required and the amount of Ihe obligation can be measured reltably. Expendrture on Charitable &tiviti"es inclLKles all costs relakn.ng lo the furtherance of the tharitys objectives as stated in the trustees report and their associated support costs. Costs are allocated between activitw on a Pernts9e bS a5 agreed by the Irustees. Support W5ts have been allocated between governan costs and other suprt. Govemance costs eomprise al cLJsts involving public accountatylity of the charity arKI its comF4iance reguletion and good praclice. Support costs include eentral functions and have been alkKated to actiwty cost ealegories on a tHsis eonsisienl with the use of resources. Grants payable 1h¢?lrt performtt ditIonS are only reeognised in Ihe ?ntS when a commrtment has been made and there are cormlitions to be met relating to the grant vthich remain in the eLJntrol of the harity. Provisions for grants are made when the intention to make a grant has been communicated to the re(ipient but the is uncertainty about either the timing of the grant or the amwrrt of grant payable. Grants offered subject lo corKlitions have Th)t teen met al the year end dale are noted as a comrriilment tArt not acwed as expendbture. 1.6 Tanylble red assets Tangible fixed assets are initially measured al c1 and wb5equendy m8asured at cost or valuation, nel of depreciation and any irnpaiml05se$. Depreciation is recognised so as to write off ts cost or valUatn of assets le5¥ their residual values over their usefijl lives on ihe f(41Ing bases" Freehold buildi Fixiures 8nd fftb'ngs 10 10 50 years straight line basis 10%- 20% slraight line baS 13-
LIFEPOINT CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounllng polkles Icontlnuedl LarKI is riot depreciated. The gain or loss arising on the disposal of an asset is determined as the thfference behween sa proceeds and the carrying Val of the asset. and is recognised in staement of financial activities. Propertses vthose fair value can be measured reliabty are held urKler the revaluation modèl and are carried at a revalued amount. being their fair value at the date of valuation less any subsequent aceumulaled depreeialion and subsequent MUlated inwimit losses. The tsir Va of ts land and buildings is usually considere(J to be their mathet value. Revaluation gains and10sses are recogrsised in other fecognised gains and losses end accumulated in equty, ex¢epl lo the extent that a revaluation gain reveTres a ValUation loss prevwsly recognised in net incomel lexpenditurel or a ValUatIon loss exceeds tr accumukted reValUatK gains recogThsed in equty", suth gains and los$ are recognised in net in¢omel{expendiluTel for the year. 1.7 Impaimient of fixed assets At each reporting end dale. the charity reviews ts carrying amounts of rts tangible assets to determine whethèr there 1$ any indication that those assets have suffered an impaimient loss. If any such indralion exists, the recoverable amount of the asset is ests"male¢J in [leT to determine the extent of the impaimient loss lif anyl. 1.8 Cash and Cash •quivalents Cash and cash equivalents incIL cash in hand. deposits held at call with bank5. Other short-lefm liquid investments with origirbal maturithes of three months or less. and bank overdrafts. Bank overdrafts are shown within borr¢)wings in current liabilities. 1.9 Flnanclal Instruments The charity has elected lo appty thè provisions of Section 11 '8asic FwwKial Instruments. and sect 12 'Olher Financial Instruments Issues, of FRS 102 to all of tts financial instruments. Financial instruments are recognised in the ¢haWs balance sheet when the charity becA)S paty to the eontradual provisions of tt* instrument. Financial assets and liabilities are offset, wth the net amounts presented in the financial ststements, when there is a legally enforats1e right to set off the renised amounts and there is an intents.on to settle on net basis or lo realise the asset and setNe the liabilty simultaneously. Bas1¢ financl•l •ssets Basic financial assets. which indude deblors aThJ cash and bank balances. are initially measured at transaction price including tran&%tion costs and S subsequentty carried at amortise(I $1 using the effective Inte$t method unless the arrangement eonsltlutes a financing transaction, where the transaction 1$ measured at the presenl value of the future receipts discounted at a market rate of interest. Financial assets dassified as receivable vrithin year are not amortised. Derncognition of financial assets Financi81 assets are derecognised only vthen the contractual ri9hts lo the cash fi(yws from the asset expire or are settle(I, or when the chartty transfers the financial asset and substantially all the risks and rewards of ownership lo another entity. or rf some signrfthnt risks and rewards of ownership are retained bLrt control of Ihe asset has Iransferred to another paty that is able to sell the asset in rts entlty to an unrelated third party. 14-
LIFEPOINT CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 A¢wuntlng polkles Icontlnuedl Basic fMwncAal liabmltles Basic financial liabiles, induding ¢dItorS and bank loans we initialty recognised at transaction price unless the arrangement constitutes a finanong transaction. wtwe the debt instrument is measured al the present value of the future payments discounted at a market rale of interest. Fina9a1 liabilities classffied as payab within i)ne year are rnt amtd. Trade credrtors are obligabons lo pay for goods or servK£s that have been acquired in the ordinary course of operotions from suppliers. Amounts payable are dassified as cuent liabrlibes rf payment is due within one year or 5$. If not. Ihey afe presented as norivcurrent liatxlitie5. Trade creditors are recognised initiany at transaction price and 5ubsequenty measured at amortised cost using the effedive interest methLwJ. D•rneogniUon dfin•ncial Ilabllllles Financial li8bdibe$ are ereniSed *then Ihe ¢thari$ contractual obligalKW expire or are discharged or cancelled. 1.10 Employee benellis The costs of $It-¢errn ernoyee beneffts ¥e recognised as a liabilty aryl an expense, unless those costs are required tt) be recogni5ed as part of the (>Jst of stock or fixed a55ets. The cost of ary unused hdiday entrtlemenl recognise(l in Ihe period in vknich employee's services are recaved. Termination benefit5 are Tecognised irnmedialely as an expense when the charity is demonstrably eommitted lo temiinate the employment of an employee or to provide lemiination ffts. 1.11 Retlrernent benefits Payments to defined contn"butffi retTrment befft schernes are charged as an expense as they fall duè. Crhlcal aceovntlng estimates and Judgements In the 8pplicatron of the charity's accounting pdKies, the trustees are required lo make judgements. estimates and assumpts'ons about the carrwng amount of assets and Ivabililies that are not readily apparent from other sOue$. The estimates and asSO¢Kqted assumptions are based ¢)n historical experience and other faclors that are considered lo be rekevant. Adual results may drffer frc4n these estimates. The estimate5 arKI Lmderlying assumplions are revthved on an On9r•3 basis. Revisions to aecounling estimates are recognised in the reritsa in bthich the eslkmate is rewsed where the revision affects cfily that peiio(l. or in the period of the reviwon and future periods where the revision affects both current 8nd future periods. 15-
LIFEPOINT CHURCH NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 IAIARCH2023 nd 2022 27D225 81Mfj 352.111 0•tilIs 4ndoift rithÈsand offenr SpecJ* 212.021 15.631 2.77 187.740 19.216 74.814 262.554 19.216 180 61A39 J.D10 5.712 15.631 2.770 61.439 1.69) Ilryfthd HOPE Youth 7.143 107 7.143 t07 5.712 283.658 9U.695 3UZ.353 270.2Z5 1.886 35Z.111 .16-
LIFEPOINT CHURCH NOTES TO THE FINANCIAL STATENIENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Ch•ritabl• activltles 2022 2023 ConfererKeS and residenlial 1,000 Other Iradlng actlvlll•s Unrostrlctsd Unrnstrictod funds funds 2023 2022 Rentsl inco Miscellaneous income 6.959 3.761 3.420 7,722 Other trading activities 10.720 11.142 Investments untrIcted Unrestrlcted funds funds 2023 2022 Interest receivable 4,267. 17-
LIFEPOINT CHURCH NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR EhlDED 31 MARCH 2023 Chrlt4bb• clMU•s Libl• Sawtothtr S•kts Hmlthll Ffj•dd fami£ r11£ 10stÉ brok•n £ hunyyÉ 24.4 24.460 24. 4.fj58 4,65 Totsl 202J 97.84D 18.632 16.939 5.208 B1.420 2.840 9.791 2.195 Tglal 2022 76.983 16,056 9.539 1.721 79.852 2.495 6.000 970 432 35.882 fj.7 2.S40 3.S7S St¥ff L 16.939 Ministry 5UPW PPS adv8rbSFIg 20J55 20.355 20.355 20.355 2213 2213 2.213 439 10 2213 5ub¥iStBnCea traA Sundry 10 274 1192 43.B28 7,765 6.520 tlonated R4paifs and maIntenae Bank thar9es knitest Solar9 SU 1ST 1,3ni 449 110.417 8.158 23.151 55.109 65,378 295.696 243.521 22,1S1 19.170 24,637 Z1.858 Z,970 2.71h) GMtfuThdW (see 81 Sar¢ of suppcrftoxis15¢Ytrncl¢ 91 Slargofgo¥gMaF wsL8l¥egrK*•91 5.1fj1 &1 5.1 5.1eO 2.9ni T15.578 35.xo 65.794 60269 73,5Ce 350.454 287.249 18-
LIFEPOINT CHURCH NOTES TO THE NNANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 WIRCH 2023 Icryrtlnuedl
LIFEPOINT CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2023 Grnnts payable 2023 2022 Grant$ to institLrtion$'. Ministn"eswrthoultfjrders 23,151 19.170 Support costs Support Govèrn•n¢e Costs 2023 2022 B8s1s of allocatlon Staff costs Deprecialitin Bank charges and interest Cleaning Legal. professional and ¢onsuttar Repairs and m¥inlenan¢e Sundry PPS and advertising Prernises costs 3.719 Direct 4.024 Percentage 1.191 Peiceniage 4.695 Direct 4.181 Oirect 2,540 Percentage 9 Direct 440 PeTcenlage 1.059 Percentage 4,658 1,633 6,931 2.672 6.513 4.658 1,633 6.931 2.672 6.513 501 1,728 501 1.728 ACCtancY fees 2.970 2.970 2.700 Govemance 24,637 2.970 27.607 24.558 Analysed btheen Charitable adivitie$ 24.637 2,970 27.607 24.558 Governance costs includes payments to the independent examiners of £2,270 for the exarninabon (2022.. jrKIernt examination fees of £2,000) and £770 for accountancy fees 12022.. £7701. 10 Trustees During the year triislee M Sutton-smith feceived payments tolalling £47.376 (2022". £46.452.1 for ministerial seNices. provided lo the charty. The trustee did not receive funds for his role as a trustee. There were no amounts wtstanding at the rrent and prior year end. Payments to Irnbur8e tfuslees durin9 the year totalled £10812022.. £nil). These expenses were incurred in tonnection with a range of purposes towards achieving the aims of the charrty iU01ng mainly Iravel and subsistence. No Injstee redaimed expenses during the year (2022.. nill. During the year 4 trustees donated £9.845 to the charity12022.' 4 trustees totalling £14.1741. -20-
LIFEPOINT CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THC YEAR ENDED 31 MARCH 2023 11 Employees Number of empbyees The average m¢Jnthly nurnber of rlOYeeS durirwJ the year was: 2023 Number 2022 Number Employment costs 2023 2022 Wages and salaries Social securty costs Other pertsion costs 94,409 1,651 1.780 72.017 7,091 1,594 97.840 80.702 Key mana9ernent per50nTr•l The charity's key management personnel rewved beneffts totalling £81.03612022: £79.4521. There were no employees v*fiose annud remuneratron Wds £60,0(N) or m(Ye. 12 Other 2023 2022 Net10 on disFosal of tangible fixed assets 3,392 3.392 13 Taxallon The tharity is exempl from on income and gains falling within section 505 of the Taxes Act 198B or section 252 of the Taxafr"onof Chargeable Gains Act 1992 lo th8 exlent Ihal these are ap}e lo its charitable objecls. 21
LIFEPOINT CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 14 Tangible fix•d ass•ts Land and Flxturns and l>ulldln9B Tolal Cost or valuatlon Al 1 April 2022 Additions Revaluation 572.388 35.965 66.647 54.043 23.002 626,431 58.967 66.647 At 31 March 2023 675.000 77.045 752.045 D•pr¢¢lallon and Impalrnwnt At 1 April 2022 Depreci81ion charged in the year Revaluation 69.442 17.552 (86,994} 32.903 5,739 102.345 23.291 186.994) At 31 M8fch 2023 38,642 38.642 Carylng amount Al 31 Morth 2023 675,1)00 38.403 713.403 Al 31 March 2022 21.140 524,086 Land and MIdIng$ with a Caln9 amwnt of £675.00012022". £502.946) wefe revalued on 31 March 2023 by Lambert Smith Hampton who a independent valuers not connected wth the charity on the basis of market value. The valuatson confomis to Intemational Valuation Standards and was based on recent market transactions on arm's length terms for Smilar k¥oper. The trustees are of opinion that there have been no malenal changes lo the value. At 31 March 2023. had the revalued assets been CaTred at historic cost less accumulated deprecialion and accumulated impairment losses. their carrying amount would have teen approximately £585.472 12022.. £573,558). Freehold land and tildIng$ with a carrying aMot of £675.000 (2022.. £502.946) have beèn pledged lo secure borrowings of the tharty. The CW is rxrt al¢)1 to pledge these assets as secfftty for other borrowings or lo sell them to another entrty. 15 Debtors 2023 2022 Amounts falllng due wlthln one y•ar: Other debtors Prepayments 65,501 4.395 5,031 71.491 69,896
LIFEPOINT CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 16 CTrdltors: amounts fallin9 due wlthln ono yr 2023 2022 Bank loans Other creditcffs Accruals and defeffed income 17 7.223 15,844 3,190 8.514 8.314 4,869 26.257 21,697 17 Loans and ovenlraft8 2023 2022 Bank loans 132.166 139,389 Payable wthin one year Payable after ore year 7,223 124,943 8.514 130.875 Amounts included above which fall due after five years" Payable by insialmerts .052 96.821 The ban is seujred by fixed charges over the Lrfepoint Centre. Ffyrnne Road. Swansea. SA168T. The loan was taken OLrt in 2010 for a period of 25 years at an interest rate of 3%. Repayments ore made at £1,067 per month. Interest payable during the year totalled £5.779 {2022.. £4.2831. 18 Cr•ditorn: amounts falllng due after morn than one year 2023 2022 Noles Bank loans 17 124.943 130.875
LIFEPOINT CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 19 Reslricted funds The income funds of the charity indude restriraed funds comprisirwJ the fdlowng ungxpended balancw of donations and grants hekl on trust for speafic purpo. ovtment In funds Movement In fvnds ealanc• at Incoming R950WC•8 BalawK• at Inc¢>m6np RThiur¢•$ 8•lanc• at 1 Apdl 2021 1 April 2022 R¥ouv¢es •xp8nded 31 M•r¢h 2023 LrfePoinl Pembrokeshir 77.605 34.559 147.3261 32.175 (48.344) 48.669 LifePoint Nealh Joseph Fund HOPE Mayhill Buildin9 furbd Neath Blding fund 11.123 40,255 118.1831 33.195 59.017 P7.076) 65.136 5.712 15.6341 78 7.143 (7.029) 192 360 360 720 1.000 1,000 1,1)00 94.272 81.886 171.143) 105.015 98,695 {82.4491 121,261 LlfePolnt Pembrokeshlre Fur has been restricted lo the geographical area of Pembrd(eshire. The balanee results from eumulative surpluses over expenditure received whKh Vlill be spent vthin trle county chantable activities. Lif8Point Neath Fund has been restricted to the geographical area of Neath. The balance resuNs from CUMative $urpluse5 over expenditure received which wll be spent %wthin the county on ¢harilable aclivilies. Joseph Fund Fund has been restricted lo assist thwth membefs w) need as a direct corwuence ofthe pandemic. HOPE Fund has been restricted to ast F¢0e in need. Mayhill Bulldlng fund Fund ha5 been restricted to assist vthh payments relating to the Mayhill buildiry. N•ath Bulldlng fund Fund has been reslrithd to asgsl wilh payments relating lo the Neath building. -24-
LIFEPOINT CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 D•s1gnat•d funds The income furKls of the tharity indude fv folltr1n9 designated funds Ththich have been sel aside out ol unre51ri¢Jed fijnds by the trlee5 for specik"puryJosès: Oan¢? ai B•l•n¢• at 1 Aprll 2021 •xTr* 1 Aprll 2022 •xperA R•valua¢lon5, anE• •t 9•lns 31 M•r¢h 2033 Fixed asset 544.418 (20.333) 524.086 (23.291) 153.842 713.403 544.418 (20.333) 524,086 (23.291) 153.642 713.403 Flxed asset fvnd Relates lo Ihe net book value ol the unrestricted fixed assets. IrdelI in the value at the year end Is the revalualim swplus of £153.642.
LIFEPOINT CHURCH NOTES TO THE FINANCIAL STATEhlENTS IcoimNUED} FOR THE YEAR ENDED 31 hblRCH 2023 rA fund fvn 2022 Fund bdawat 31 March2023aro Tala$S0 Cwrent a5setsiilithiibes} tsrrn 713.403 113.403 I.332) 121281 468.899 357.ertlS 1124.9431 1130.875} $44.418 $24.086 462.820 {130.8751 347.628 {124.9431 ios.ois 222.695 711403 121.261 1.1.559 2.39& 544.418 105.015 8S5.831
LIFEPOINT CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 R•l•tyd party trans•ctions The charity is 8 member (rf a nth¥oTk of churc1 'rrinislFIesrtsr$' v•t¥)se dwrity regFstration number is 1095446 and 4tho$e principal office is PO Box 4252. Cardrft. CF1 8FA. During the year grants totalling £23.151 {2022.' £19.1701 were made to ministrieslOrOer$. These grants We seen as support to a connected charity bthich is fujfillfftg objectNe5 $imil¥ in rtatwe tct tho of LrfePoint Church. The amounts outstanding at the year end totalled £6.236 (2022". £5.970). 23 Other financlal commitm•nts At the year end.the chanty had inten115 to SUPF¢rft a number of indiwduals organisalKJns lo bthom Ihg trustees have promised or@oirg finaneial support, uth"I the nature of the reeipients work changes signthcantly in some respect. lthenever a significant thange occurs a re-assessment of SUPkX)rt 15 urthrtaken by the trustees. The chafrtable ministry support (to indude exFensesl paid during the year as 8 resutt of such cormiilmenls lotalled £81,03612022'. £79,852) and was paid by monlNy instalments. The charrtable grants paid to Ministries Vthrt Borders during tr year as a result of suth commitments lotslled £23.151 12022.. £19.170). £6,236 relating lo the above intentws were held in the balance sheet at the year end12022'. £5,970). 27-