COMPANY REGISTRATION NUMBER: 05315859 CHARiff REGISTRATION NUMBER: 1134286 LifePoint Church Company Limited by Guarantee Annual Report and Unaudited Financial Statements 31 March 2024 GORDON DOWN & COMPANY LIMITED Accountants and business advisors 144 Walter Road Swansea SA15RW
LifePoint Church Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Truslees, annual report (incorpjrating the directorfs report) Independent examinerfs report to the trustees 10 Statement of financial activtties (induding income and expenditure account) 12 Statement of financial position 13 Notes to the financial statements 15 The following pages do not forni part of the financial statements Detailed statement of financial activities 28 Notes to Ihe detailed ststement of financial activities 30
LifePoint Church Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Directorfs Report) Year ended 31 March 2024 The trustees, who are also the director5 for the purposes of company law, present their report and the unaudited financial statements ol the charity for the year ended 31 March 2024. Objectives and activities Vlslon. Mlsslon and Values Our Vlslon Our vision is to serve our city and our communf(ies by worknng in partnership to enrich and energise neighbourhoods, families and individual lives. We want to make a difference one lrfe at a time, emotionally. mentally, socially, fInaallY. physically and spiritually, until we se8- One thousand transfomied lives across South-west Wales. Our Mlssion We seek lo hleve this vision pyactically by pursuing the churdl's fve-fold misSn statement.. Feed the hungy Heal the broken Seek Ihe lost Sow to the nations Lrve like Family How we ful1 those five mlsslon statements on a day-lTrday basis is described below. Our Values As we pursue our vision and fuffil our mission we pledge lo stay tnje lo the charl5 three core values: to do everything relationally, passionately and spiritually. For us operationally that means that seek to lead every aspect, proiecL department and function of church16fe in a way that is people-minded. heart-felt and Spiri14ed. Atl of the at*)ve can b8 summarised in four WLYd5 that are of sNJnrfunce to us in the LrfePolnt family. "Love Looks Like Something." Strateglc report The following sections for achievements and porfonnance and financaal reVW fom the strdtegic report of the charity.
LifePoint Church Company Limitsd by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 31 March 2024 Achiavgrngnts and perfonnance Feed thg Hungry We have continued to offer spiritual and material hdp to those who are facing drfficult limes. This has especially involved the supply of food lo families and individuals in Townhill and Mayhill, areas which ontain 5 of the 11 most deprived areas in Swansea- and on the en0mllY challenged Garth Estate in Haverfordwesl. From ils base in Swansea. LifePolnt is one of the di8tributiOn5 centres workiThJ under the banner of Swansea Food Bank. a branch of the nalK)nal charity Trussell Trust. We are onty al8 to 5uc(*ssfully run our food banks due to the support of our volunteers. Compared to years ago the number of food parLEls distributed increased by 130%. In the period between April 2023 and March 2024 the Swansea Fcx)dbank gave out 1.421 food parcels, of which 745 were distributed from the Lrfepoint Centre and 676 from Mayhill Community Centre. This compares with 1,065 paicels the wevious year{749 from the LrfePoint Centre arKI 316 from Mayhill)- Whilst the overall total represents a 33% increase compared lo last year. Swansea remained mtjch the same, bul Mayhill doubled, showing an increase of 114%. This need in Mayhill is a150 evidenced by the number of individuals helped. The focrfl parce15 distn"buted in the last 12 months reached a total of 2.915 individuals of who 1.989 were adults and 926 were children. This compares wrth a total of 2,343 individuals the previous year11.584 adults and 759 children)- a 24°h increase in the number of people reached. It [5 also notable that in Mayhill the Foodbank helps larger family units and many children. Statistically, whilst more food parcels are gNen wt from the LrfePoinl Centre (745) than from Mayhill (6761, the number of individuals benefitting is greater in Mayhill (1.535) than from the LifePoinl Centre {1,380). The growth and ability of the Church to meet the need in Mayhill can partly be attribLrted lo a local community grant from the Crty & County of Swansea. This has supported the running of the Pok up café and children's dothing provision alongside the weewy Food Bank operation hosted al Mayhill Community Centre. We are grateful for the support from City & County of Swansea and a further grant was received, that is to be spent during the finanaal year 2024-25. We have also continued to partnerwilh the national charity F8reShare. which supplies high quality fresh food each week, don8ted from major supermarket chains. to enrith the nutribonal qualty and value of the food parcels distributed at our F(XKJbanks. In addition. as part of the church's own distirrt Helping Ordinary People EVerere IH.O.P.E.) project. 52 larg&sized personalised Christmas Food Hamper5, valued at £100. were packed and delivered lo peoples, homes by volunteers. Many of these hampers induded personalised WTapped toys as grfts for children in the household. We received a grant of £4.000 from the City & county of Swansea Local Councilli)rf5 Fund towards these personalised hafflper5. This partnership is very much appreciated. The churth in Haverfordwest also distributed 20 Christmas FTr)d Hampers. supported by a grant of£500 from Haverforthvesl Town Counal. We also gave out more than 700 items of children's dothing lo the residents of Mayhill. some through organised Clothing Days and some in partnership Vth the local schools helping families that they identif. This is a 17Yo increase on the Fffevious year. Two of the church's leaders continue to serve on the board of govemors of the primary school that serves the Mayhill estate. Seaview School. Also this year the Swansea H.O.P.E. project was able to help some struggling families furnish their homes in partnership with the Enfys FoundatKJn and purchase much needed transport for one family. While in Haverfordwest donations were rnade to enable the churth to give financial support lo several
LifePoint Church Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (IdldI Year ended 31 March 2024 families, recenty sewed in the country. to hdp with daily liviro costs. In Pembrokeshire. the church continues to develop tts allotmenL which enables them to offer physical recreation in the outdoors lo the indNiduals they are helping and also lo distribute home grown food. The Pembrokeshire chUh also continues lo engage wrth the Fenton Schod community, helping during the year wth playground and garden devdopmenls. painting and refurbishment projects, reading activities for pupils and special events in the ojrriculum. Heal the broken We aim to pray for and support people who are facing sthess or brokenness, In lrfe generally.. lo help them recover health and dignty. We want to stand with people vtho have been troubled in body. mind. relationships or finance to See them restored, strong. whole, free and reconctled. We partner with Seaview School in Swansea suppth'ng disadvantaged families that are receiving input from Swansea's Team Around The Family project. Public trnerrt indude5 speeding peoples. recovery from physical and mental illness. Seek the108t We aim to be a guide to those who may have lost their vrdy in lrfe cff lost their faith. We support people practically lo gel back on their feet and also offer to help people find a personal faith that helps them thorough the challenges they face. We have been able to njn Alpha courses for those seeking spiritu81 guIdan- these have reached a totsl of 15 indivKluals. We a150 corrtinued to reach beyond our tradttional in-person congregation by uploading our messages and meetings to a much wder on4ine audience. Weekty meetings were broadcast live via Zoom to the homes of people who were unable to attend a church meeting in person. and specially recorded messages are also uploaded via social media to provide help insplration fvrther afield. Sow to the nations We aim to make a dtfference lo peorAe living auoss the World. We want to ernbra, enrich. learn from, befriend and SUPPKJrt people of many drfferent culiures and backgrounds and play our part in making the worfd what it was designed to be. We care for all of God's wortd, both the people and the planet. and want to protect and help our environments and oUrMMUnities. We also work cfosely th Ministries Without Borders. which helps us to extend our reach into the world. We have continued our Involvement wth a church in Telangana. India. Working the local Christian Pastor serving the most poor and vulnerable people in a region in Telangana. we have been able to send £2.510. donated from our Swansea Church. A member of the church visited in April 2023 and look some of the finance with him. That finance has made a difference and was able to help a group of widows. orphans and leprosy sufferers wth food and dothing. During the coming year, hdp will be given to to purchase buffaloes lo help provide ongoing income for the work. We have also donated £390 towards a humanitarian project in Ghana. £1,lJ)O to Cuba and £500 to alleviate the suffering that followed a rtatural disaster in the Philippines. These last two grfts were given via Ministries Without Borders. The church in Haverfothest donated £147 to Ukraine and India. Two of our current employees lead a prolecl in Kenya. enliued Love Your NeTrghbour. whtch helps children with additional needs. vulnerable teenage girfs, addicted individuals and mothers who need finance to SUPPOrt their families. We were able to send to that project £3,500 which had been raised at a conference hosted by Mlnistries Without Borders. l of those overseas donallons represented a total of £8.047.
LifePoint Church Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (conllnu•l) Year ended 31 March 2024 Achlevements and pgrfomiance (cl¢0 Llve Ilke famlly LrfePoinl Is 8 vibrant growing multicultural [mMunrtY (XsISting of people from many drfferent nations and generations. During this finawal year, the number of people committed to play a part in our four congregations In Swansea Central, Mayhill. Neath and Haverfordwest grew from 247 to 281, a 14% increase. Wrth children and teenagers. the core church family now totals 400 people. Our aim is to be an example of a c4)mmunty of people wlK> SUPWt each other as an extended family of friends. We seek lo see the young. old, rich and poor, respecting and caring for one another and sharing the experiences of lrfe together through days and bad. Public benefit indudes building strong relationships and supwt structures that enhaniz communities and minimise isolation. All five aspects of Ihe 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 three full-lime pastors. iwo part-time pastors, one part-time administrator. For most of the year we were also brilliantly assisted by young full-lime leadership inlems who served the church arml community whilst being hosted by families in church and receiving a small bursary. Perhaps the best indicator of our family lrfe is the thousands of volunteer hours. thal enables to church lo function so effectively. For example. supported by the Town and Borough Council. the LrfePoint Church in Neath Served their communty at Christrnas by hosting a ViCtorn Street Fayre in the town centre caslie- an event that attracted 1.100 visilors and look at least 400 volunlew hours. Revlew Processes The charty reviews its vision. aims, objectNes and activit*s each year. Ik1j at what it achieved and the outcomes of its work In the previws 12 months. The review looks at the success of each key activty and helps ensure the aims. objectives and actrvities remain up to date. The Charity Commission's general guidance on publ benefit has been referred to when reviewing aims and objectives and in planning future actNities lo ensure they (xjnfonn %wth that guidance. The webslte ¥wM.lrfepoint.org.uk continues to profile our work in the (x)mmunity and support our communication. Online acb'vrties for the mirj year V11 provide the platfonn for us lo continue to deliver our vision and mission. Tralnlng Inltlatlves The intem prcKJramme this year wovided a weekly hair day discipleship programme.
LifePoint Church Company Limited by Guarantee Trustees. Annual Report {Incorporating the Directorfs Report) (conllnu Year ended 31 March 2024 Achlevemgnts and perfornwice {coRNm*d) Comrnunity Initiatlves The Alpha Course This intemalionally used course communicates the ntral beliefs of Christianty In a forum where anyone can examine and discuss issues of lrfe and fatth. Attracting a whje range of participants from the local community, the course has made an importanl (xjnlribution lo the continued growth of LrfePoint Church. H.O.P.E. The work of this projecl highlighted in the Mission Statement, the tiue of which represents Helping Ordinary People Evewthere, provide5 practical help to some of the neediest people in Swansea. Tailored to meet indNidual needs as they arise. it indudes such things as food hamper5, baby hampers, children's clothing, household repairs and other provisions lo needy families or individuals and enhancing the environmenl in local primary Schools. FL Exgrclsg This is run weekly by a Swansea Churth member for ladies who want to develop their fitness, balance and health. LifePoint Ladles Running Group This runs weeY for beginners and intermediales. induding those who enjoy support and encouragement for a Park Run. A few have completed 10K e$. half4marathons and full marathons. der Local Involvement In addition lo these spectfic projects, the church encou$ many individual members to express their faith by becoming involved personalty in other community initiatives. Some ongoing areas of involvement include money advice, supported by CAP {Christians Against Povety} and govemorship in schools. Direct support and care have also been provided for individuals wrth more specrfic need5 such as those with addlctions or other lrfe-controlling habits. or people facing bereavement or seriou5 illness. including mental he81th issues. Athough these various projects are not connected to the charity, LrfePoint Church ProVeS pastoral support to those involVj in these areas. Student Initiatives Swansea has a significant studerrt population. bul nIlY much of the campus has relocated outside the city, further away from the church building. However. the church has continued lo promote its work in this area. We welcome both British and International studerrts to the cty and irffer mentoring. meals. social occasions and opportunities to give back to the cty. During the last hvo years we saw a signfficant growth in mature intematlonal students with famili8s joining the church. International Projects The church is part of a network of churches overseen by Ministries Wtthout Borders (see note 22 in 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 lo provide support for a number (rf intemational projects in a variety of ways induding raising funds. and making donations. These are regulady reviewed to erEur8 that our involvement wntinues to be in the furtherance ol our specffj charitable objectNes.
LifePoint Church Company Limitsd by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) {conUnu Year ended 31 March 2024 Flnanclal review Prlnclpal funding sources The charity relles upon voluntary donations from the generosty of both members and friends. It is also able to reclaim grft aid from H.M. Govemment. Al Tnjstees meetings income and expenditure is monitored on a bi-monthly basis to ensure charity has SLrfficient funds to meet all its financial wuirements and to fvnd all current sxojecls. To strengthen our financial repK)rting, a bookkeeper was contracted one day a week from April 2023. During the year we reviewed our future needs and from April 2024 moved lo Xero doud-based software. lo better support managing our finances across four geographical areas. Add(nal cash balances will need to be be accumL¢lated to maintain and develop the building owned and fvture building requirement5. During the coming year this approach will be reviewed to deterniine onwing suitability. The Iruslees have general investrnenl powers whith are restricted lo the assumptions that all investments are made in '(j faith, and that professK)nal advrce is sought. The charty has no investments. Grants are made to indNKluals or organisalions whth either are undertaking activities that are similar in nature to the charity's objectives or those whom the truslees deem lo be in need or suffering hardship. Incomg and expendlture The charity made a £82,425 operational surplus for the year ended 31 March 2024 which included approximaldy £2,500 FTI income from the 2023 financial year. Funds of £28.228 were restricted. leaving an unrestricted surplus of £54,197. ot the restricted surplus generaled, the results can be split as follows- LrfePoint Pembrokeshire LrfePoint Neath HOPE Mayhill Building fund Youth Ransomed Maternity pay accrual India Buffalo Fund City & County of Swansea Grant to be spent in 24125 Total incoming resources for the year were £462.951. The largest contributions to this IrMe were the tithes and offerings of £326.526 followed by £70,197 of gift aid thal was reclaimed. The largest individual item of expendtture included in total resources expended of £380,526 was salaries and wages (including direct ministy support and expenses)of £173.311. At the balance sheet date unrestricted funds tolalled £295,082, dessgnal8d funds of £695,213 and restricted fvnds lotalled £149.489. The free reserve5 of the charity are £295.082, of which £150.000 is designated a Building Fund.
LifePoint Church Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrectorfs Report) (contlnu8dJ Year ended 31 March 2024 Flnanclal reviwl (cortthii*d) Reserves policy The reserves policy alms to hold three months of related expenditure in unrestricted reserves. additional of the value of tangible a5sels. in (Kder to hdp the charity meet the unexpected. This would Indude amounts to cover any financial risks as well as sh)rt lemi fluctuations in incoming resources. The accounting FK)liGies of the charity are detailed on pages 15-18 of the accounts and include the charity's gryant maknng policy. The level of availa1e funds not up in fixed assets at the year end was £295.082, of which £150,000 is designated a Building Fund. The charity has dearty identrfied restricted funds. to ensure donors giving is spent according to their wishes. This especially enables the charrty to detAoy or reserve all the money gtven for the work in Haverfordwest and Neath. shown in note 20 to the cOUnts. Rlsk management objectlves and polldes The trustees regularty review the risk register. carefully considering the malor risks lo which the charity is exposed and regularly diSsS risk management throughout the year at its own meetings and al those Wtth the leaders. Systems have been estsblished to manage those risks. whth includes good financial management and budgeting, supported by a review of our reserves wlicy. The most significant risk5 faced usually relate lo building management and ownership and use of volunteers. including event management. Plans for future perlods LrfePoint Church owns and manages a facilty known as The LrfePoinl Centre. and throughout the years we have contin¥Jed to develop thi5 50 that it meets the needs of the ICal neighbourhood and the church community. As the church communities in Swansea, Neath and Haverfordwesl grow. we may need to consider altemative prerni5es. Neath have been meeting since its fomiation in 2020 in Bryncoch Community Centre, whilst Haverfordwest moved from Fenton School in February due to ils unavailabilty, into the Town Centre using Haverhub Communty Centre lo assess whether the centre location will help the growth of the church. We are preparing for the eventuality that one or other corwregation rnay need lo acquire its own permanent facility. or that Swansea may also need to increase its meeting capacty. To this end the trustees in June 2023 designated a building fund of £150.000. We are continualty reviwng our organisation and administration to adapt to the changing membership and the increasing communty involvement and have volunteer leaders in place to help manage and SUPFK)rt our work. During the coming year. we are installing new accounting and gift aid software lo help us more effectNely manage our four financral centre and have employed a bookkeeper one day a week lo support this transition and will change our payroll and Independent Financial Examiner. We 11 also install new software to help us manage our Personnel, Health and Safely and general churth administration. In addition. specrfic funds continued to be gathered ready to meet further and deeper needs in the community through the development of our facilities and staff.
LifePoint Church Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) {condnu&* Year ended 31 March 2024 Structure. govemance and management Govgrnlng document The charity is controlled by its goveming dCMerrt. AriL4es of AsKKiation. ar#1 constitutes a limited c¥)mpany. limited by guarantee, as defined by the Companies Act 2006. Recruitmenl and appointmgnt of new trustees Trustees are appointed by the resolution of a quonJm of existing Trustees. There is no external body that has the entidemenl to appoint a tnjstee. All new Trustees are gNen an Induction. Twstees are appointed lor the particular skills that are needed for the organisalh)n and tralning needs are regularfy assessed by the Trustee5 ond support is given where appropyiale. Organlsational structure The charty operates primarily, tmrt rK)t exdusNdy. in ScMJth Wales. haviNJ regular church meetings in both Swansea Iuplands and Mayhill), Nealh and Haverfordwest. As described above, LrfePoinl Chur¢h employs a part-time administrator, three full-time pastors looking after Swansea Central. Swansea Mayhill and Neath and two part-time staff members in Pembroke5hire. In addition, many of our activities are carried out voluntarily by our mM[tted and generou5 members, who make possible most of the good work of the charity. In lems of legal and financial affairs, the church leaders led by Mr M Sutton-smith, are engaged on behaw of the Trust to work within the delegated aulhorty given by the trustees and have decision-making power5 for the day-tfrday operations of the chartty. Members of the Trustee Board meet regularly wlh the leaders to discuss matters affecting the charity. including the limitations of their decision-making abilty. Decisions that affect the incorporated charity are made solely by the Trustees themselves. in quorum. Rdated Parties In the pursuit of its objectives, the charity is a memtw of a nehvork of churches entitted Ministries Without Borders, a related party and also a charty itself. whth is detailed in note 22 to the accounts.
LifePolnt Church Company Limitsd by Guarantee Trustees. Annual Report (Incorporallng the Dlrectorfs Report) (conUnu8dJ Year ended 31 March 2024 Referonco and administrative details Reglstered charity namo LTfePoint Church Charity rggistration nurnbgr 1134286 Company registration number 05315859 Prtncipal officg and rogistgrgd The LifePoint Centre offlcg Ffynone Road Svrdnsea SA1 6BT The trustees Mr M Sutton-smith Mr M Freeman S Inglesant Mr N Homans Indopgndgnt gxamlner Philip Harris FCA of Gordon Down & Company Ltd 144 Waller Road Swansea SA15RW BankeTS Unlty Twst Bank 9 Brindley Hace Blrmingham 81 2HB The trustees. annual report and the strategic report were apwoved on 24 November 2024 and signed on behalf of the board of twstees by.. Mr M Freeman Trustee
LifePoint Church Company Limited by Guarantee Independent Examlnerfs Report to the TteeS of LifePolnt Church Year ended 31 March 2024 I report to the trustees on my examination of the financial statements of LrfePoint Church Ilhe chariV} for the year ended 31 March 2024. Rosponslblllties and basls of report As the trustees of the company (and also [15 dirtorS for purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (Ihe 21Th ACY). Having satisfied myselF thal the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charlty's accounts as carried (¥Jt under section 145 of the CharFties Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Direct given by the Charity Commission under section 145151(bl of the 2011 Acl. Independent examlnerfs statemenl Since the charitys gross income exceeded £250,0 your examirw must be a member of a body listed in section 145 of the 2011 Act. I confirTll that l am qualffi8d to undertake the examination because l am a member of the In51ttute of Chartered Accountsnls in England arKJ Wales {ICAEW}. which is one ofthe listed bodies. I have completed my examination. I confirm that no matt¥ have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the charity as wu11 by section 386 of the 2006 Act.. or the financial statements do not accord with those records.. or the financial stalemenls do not comply wth the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a Irue and fairf view which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordanc* with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their acxxJunt5 in accordance with the FinanGial Reporting Staridard applicable in the UK and Republ of Ireland (FRS 102). 10
LifePoint Church Company Limited by Guarantee Independent Examinerfs Report to the Trustees of LifePoint Church {condnwdJ Year ended 31 March 2024 I have no concerns and have (*me across no other matters in o)nnection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Philip Harris FCA of Gordon Down & Company Ltd Independent Examiner 24 November 2024 144 Walter Road Swansea SA15RW 11
LifePoint Church Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 unrestn.cted funds Income and endowments Donations and legacies Other trading activities Investment income 303,767 11.850 12.535 131.580 435.326 11,850 15,775 383.353 10.720 4.267 3.239 Total income 328,152 134,799 462,951 398.340 Expendlture Expenditure on Gharilable acbvities Other expenditure Total expenditurg 271,955 2.000 106.571 378.526 2.000 350.454 273.955 106,571 380.526 350.454 Ngt inGome 54.197 28.228 82.425 47.886 Other rgcognlsed galns and losses Gains from revaluation of fixed assets 153.642 Net movement in funds 54.197 28.228 82,425 201,528 Reconclllatlon of funds Total funds brought forward Total funds carrfed forwanl 936.098 121,261 1,057,359 855,831 990.295 149,489 1.139,784 1,057,359 The statement of financial activtties IrudeS all gains and losses recogniwt in the year. All income and expendriure derive from conb"nuing athrties. The notes on pages 15 to 26 fomi part ofthese Ilnanclal statements. 12
LifePoint Church Company Limited by Guarantee Statement of Flnanclal Position 31 March 2024 2024 2023 Flxed assets Tangible fixed assets 15 695,213 713,403 Current assets Debtors Cash al bank and in hand 16 79.798 519.999 71,491 423,665 495.1 599.797 Crgditors: amounts falling dug withln one year Net current assets 17 (35.806) 563.991 126,257) 468,899 Total assets less current liabilities 1.259.204 1,182,302 Creditors: amounts falllng due after more than one year Ngt assets 18 {119,4201 1124,943) 1.139.784 1.057,359 Funds of the charity Restricted funds Unrestricted funds.. Revaluation reserve Other unrestricted income funds 149,489 121.261 153,642 836.653 153.642 782.456 Total unrestrlGted funds 1,295 936.098 Total charity funds 20 1,139,784 1,057.359 For the year ending 31 March 2024 the charty was entiued to exemption from audrt under section 4T1 of the Companies Act 2006 relating to small companies. Directors. responsibilities= The members have not required the company to obtsin an audit of its financial staternents for the year in quests.on in accordance with section 476,. The directors acknedge their responsibilities lor complying with the requirements of the Act with respect to accounting recx)rds and the preparation of financial statements. These financial statements have been prepared in aCLxJr(1an wrth the provisions apicable to companie5 subject to the small companies, regime. The statement of financial position continues on the following page. The notes on pages 15 to 26 fomi part of these financial statemonts. 13
LifePoint Church Company Llmited by Guarantee Statement of Financial Position (wnlloufjdj 31 March 2024 These financial statements were approved by the board of trustees and authorised for issue on 24 November 2024, and are signed on behalf of the t)oard by.. Mr M Freeman Trustee The notes on pag85 15 to 26 form part of these financlal statsmonts. 14
LifePoint Church Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General information The charity is a public benefit entity and a private company limited by guarantee, registered in Engla[ and Wales and a registered charity in England and Wales. The address of the regislered Offi is The LrfePoint Centre. Ffynone Road. Swansea, SA1 6BT. SLthmgnt of compllance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicatAe in the UK and the Rewblic of Ireland,. the Statement of Recommended Pfactice applicable to charrties preparing their accounts in aCrdance with the Financial Reporting Standard applicab in the UK and ReputrAic of Ireland IFRS 1021 (Charities SORP IFRS 102}l and the Companies Act 21JO6. AGG(wntlng pollcles Basis of preparatlon The financial statemerrts have been prepared on the historical cost basis, as modrfied by the revaluation of certain financial assets arKJ liabilrties and investment properties measured al fair value through income or expendrture. The financial statements are kYepar&Y in sterling, whth is the functlonal currency of the enlty. Going concern There are no material uncertainties aLMyJt the charivs ability to continue. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated fvnds are unrestricted funds earniark by the tnjstees for particular future project or commitmenl. Restricted funds are subjected to restrictions on theirexpenditure dedared by the donor orthrough the terms ofan appeal. and fall into one of tsvo suIaSses. restricted irKxJme fvnds or endowment funds. 15
LifePoint Church Company Limited by Guarantee Notes to the Financial Ststements iconlthu8d) Year ended 31 March 2024 Accounting policias (¢onWnugdJ Incomlng resourGgS l incoming resources are included in the statement of financial aclivilies when enlitlemenl has passed to the charity,. rt 15 probable that the economic beneffts associated with the transaction will ow lo the charity and the amount b8 reliably measured. The following specrfic policies are applied to particular categories of irKX)me: income from donations or grants 15 recognised when there evidence of entiuemant to the gtrt receipt is probable and tts amount be measured rdiably. legacy income is recognised when receipt is wobable and enternenl is established. income from donated g(S is measured at the fair value of the g)ods unless this is imprdctical to measure reliabty. in whh case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received rf the value can be reliabty measured. No amounts are induded for the ntribulion ot general v(Aunteers. income from contracts for the suppty of services is recognised wth the delivery of the contracted service. This is dassified as unrestricted furKls unless there is a conlraclual requirement for it to be spent on a particular purpose and retumed rf unspent, in which case it may be regarded as restricted. Resourcgs gxpendgd Expenditure is recognised on an accruals ba515 as a lialy'lty is iruirred. Expenditure inGludes any VAT which cannot be fully recovered. arKI 15 dassrfied under headings of the stalemenl of finanal actNities to which it relates= expendtiure on raising ftjnds indudes the costs of all fijndraising activities. events. non- charitable trading actNities, and the sale of donated goods. expenditure on charitsble ivK4udes all costs Irvred by a charity In undertaking activities that fvjrther its charitable aims for the benefit of ts beneficiaries. including those support costs and costs relating to the govemance of the charity apportioned to charitabl8 actNlties. other expenditure indudes all expenditurethat is neither related to raisirvJ fvnds for the chanty nor part of its expendrture on charitable activities. Al costs are allocated to expendtiure categ)rtes refiecllng the use of the resource. Direct (x)sts attributable to a single activty are alICted directly to that activity. Shared costs are apportioned between the actNities they contribute to on a reasonab, justifiable and nSIStenI basis. Tangiblg assets Tangible assets are initially rerA)rded at cost, and subsequently ststed at L¥JSt less any accumulated depreciation and Impairment losses. Any tangibfe assets carried at revalued amounts are recorded al the fair vallte at the date of revaluation less any subsequent a(xumulated depreciation and subsequenl a(wmulaled impainnent losses. 16
LifePoint Church Company Limited by Guarantee Notes to the Financial Statements (conthue Year ended 31 March 2024 Accounting policies (condnu8d) Tangible assets (Contrnd) An increase in the carrying amount of an asset as a result of a revaluation. is recognised in other recognised gains and losses. unless il reverses a tharge for impaimient that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluats"on. is recognised in other recognised gains and losses, except to which il offsets any previous revaluation gain. in which case the loss is shown within other recognised gains aThJ losses on the statement of firnCIal activibes. DepreGlatlon Depreciation is calculated so as to write off the cost or valuation of an asset. less its resKlual value. over the useftjl economic lrfe of that asset as foll(yNs.' Freehold propety Flxtures and fittings 2% 5trdight line basis 10%- 20% straight line basis Impatrment of Ilxed assets A review for indicators of irnpairnent carried out at each reporbng date, with the recoverable amount being estimated where such indicators exist. Where the carying value exceeds the recoverable amount, the asset 15 impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporttng date. For the purposes of impaimient testing, when it is t wssitAe to estimate the recoverable amount of an indNidual asset. an estimate is made of the recoverable amount of the cash-generating unil lo which the asset belongs. The cash-Generating untt is the smallest idenlffiable group of assets that includes the asset and generates cash inllows that largely independent of the cash inflows from other ats or gnjups of assets. For impairment lestiro of gc%lI. the goodwill acquired in a business comblnation is, from the acquisition date, allocated lo each of the cash-generating units Ihal are expected to benefrt from the synergies of the combination. irrespective of whether other assets or liabilitS of the charity are assigned to those untts. Financial instruments A financial asset or a finanud liability ig rec(KJni5ed only when the charity becomes a party lo the ontractual provisions of the Inslnjment. Basic financial instruments are initially recognised at the am(NJnt 1vable or payable indudlng any related transaclion costs. Current assets and current liabiltties are subsequently measured at the cash oroth¥ consideration expected lo be paid or received and not discounted. Debt instruments a subsequently measured at amortised c<)st. 17
LifePoint Church Company Limited by Guarantse Notes to the Financial Statements (GOnth) Year ended 31 March 2024 Accountlng policies (conttn Flnanclal Instruments Where investrnents in shares are pUblY traded or their fair value rn otherwise be measured reliably, the investment is subsequently measured al fair value %Mth changes in fair value recognised in income and expendlture. All other such investments are subsequenuy measured at cost less impairment Other financial instnjments, induding dertvalNes. are in"allY recogni5ed at fair value. unless payment for an asset is deferred Iwond nomlal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Otherfinancial instruments are subsequenly measured at fair value. with any changes recognised in the statement of financial &tivIts. with the eXPtion of hedging instruments in a designated hedging relationship. Financial a55ets that are measured at cost or amorbsed cost are reviewed for objeclive evidenGe of impairment at the end of each reporting date. If there is obieclNe evidence of impairment, an impairment loss is recognised under the approprtate heading in the statement of financial aGtivities in which the initial gain was recognised. For all equity instruments regardless of signrficance, and other financial assets that are individually significant. these are assessed individually for impaimient. Other financial assets are either assessed individually or grouped on the basis ol similar credit risk characteristics. Any reversals of impairment are recognised immedialely. lo the exlent that the reversal does not result in a carying amount of the financial assel Ihat exceeds what the carying amount would have been had the impaimient not prevK)usly been recognised. Defingd contrfbutlon plans Contributions to defined (x)ntribution plans are recognised as an expense in the period in which the related servi(* is provided. Prepaid contribub.ons are recognised as an asset lo the extent that the prepayment will lead to a r&Juclion in future payments or a cash refund. When contributions are not expected to be 5etUed wholly wthin 12 months of the end of the reporting dale in which the employees render the related ser¥e. the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which tt arises. Llmlted by guarantoe LrfePoint Church is a private MpanY limited by guarantee Incorpted in England and Wales. The registered off8 is The LrfePoinl Centr8. Ffynone Road, Swansea. SA16BT. 18
LifePoint Church Company Limited by Guarantee Notes to the Financlal Statements Year ended 31 March 2024 Donations and legacles Unrestricted Funds Restricted Total Funds Funds 2024 Donations Tithes and Offerings Special offerings People and Places Fund Gtft Aid Building Fund HOPE Youth Charitable activities Overseas aid donations 217.947 108,579 570 9,750 2,235 360 3,813 240 326.526 1,530 10,080 70.197 1.920 10.888 2,362 330 67.963 7.075 2.122 6,013 6,013 Grants Grants receivable 5.810 5.810 303,767 131.560 435,326 Unrestricted Funds Restricted Total Funds Funds 2023 Donatlons Tithes and Offerings Special offerings People and Places Fund Grfl Aid Building Fund HOPE Youth Charitable activities Overseas aKI donations 212.021 15.631 2.770 43.956 2.030 7.143 107 80,288 292.309 15,631 2.770 62,363 2,030 7,143 107 1.000 18,407 Grants Grants receNable 284,658 98.695 383,353 Other tradlng activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Rental income FIT InoL)me 4.138 7.712 4,138 7.712 6.959 3.761 6,959 3,761 11,850 11.850 10,720 10.720 19
LifePoint Church Company Limited by Guarantee Notes to the Financial Statements IGonllnuodJ Year ended 31 March 2024 Investment Income Unrestricted Funds Restricted Total Funds Funds 2024 Bank interest receivable 12.535 3.239 15,775 Unrestricted Funds Reslricted Total Funds Funds 2023 Bank interest receivable 4.267 4,267 Expendlture on Gharitablo activities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Charitable actwities Support costs 190.689 81,266 105.206 1.365 295,896 82,630 271.955 106.571 378,526 Unrestricted Funds Restn"cted Total Funds Funds 2023 Charitable activil Support costs 208.583 59.422 82,449 291.032 59.422 268,005 82.449 350.454 Expendlture on charitablg activities by actlvlty type Activilies undertaken Grant futKling direcuy of aclivrties Support Total funds costs 2024 Total fund 2023 Charitable activities Governance costs 249.638 46.258 80,607 2.023 376.503 2.023 346,580 3,874 249.638 46,258 82.630 378,526 350.454 10. Other expenditure Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Loss on disposal of tangible fLxed assets held for charitys own us8 20
LifePoint Church Company Lirnited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 11. Net income Net income is stated after chargin{Crediting). 2024 2023 Depreciation of tangible fixed assets Loss on disposal of tangle fixed assets 22,036 2.000 23.291 12. Independont examlnatlon fees 2024 2023 Fees payable lo the independent examiner for.. Independent examination of the fina[la[ statements 1.200 2,270 13. Staff costs The total staff costs and emOYee beneffts for the reporting period are 8nalysed as follows.. 2024 2023 Wages and salarles Social security costs Employer contribub.ons to pension plans 88,882 1,953 3,115 93.950 94,409 1,651 1,780 97,840 The average head c(yJnt of employ during the year was 5 (2023.. 5). No employee received employee benefits of more than £60.000 during the year12023: Nil). 21
LifePoint Church Company Limited by Guarantee Notes to the Financial Statements {conthwdJ Year ended 31 March 2024 1 Trustee remuneration and expenses The Ch8nWs Trust Deed makes provision for payments to be made lo Trustees. Ministry supp(Kt of £95,986 {2023 - £81,420) contains SUPE payments to one Trustee who devoted the majority of their time to the service of the church. The trustee did not receive fijnds for his role as trustee. The Trustee recerving payments under contracls for servKes and the amounts paid are as follows: 2024 2023 M Sutton-smith Ministry support receNed 48.312 47,376 Donatlons made to LlfePolnt Church The aggregate value of uncondrtional donations made by the Trustees in the year to 31 March 2024 was £9.68212023- 9.845). TtoeS. expenses There were no Trustees, expenses for the year ended 31 March 2024. In many instances the Trustees act as agents for the Charity and make purchases on tts behalf. using cred¢1 cards to meet the costs of travel or lo purchase book or other rtems in the same way as other personnd of the Charty. Such expendtiure is not related to the services provided as a Trustee. 22
LifePoint Church Company Limited by Guarantee Notes to the Flnancial Statements (rontinu¢dJ Year ended 31 March 2024 15. Tanglble fixed assets Freehold Fixtures and prop fittings Totsl Cost At 1 Apr 2023 Addttion5 DisFx)sals Revaluatior 675,000 77.045 5.475 {2.500) 4.347 752,045 5,475 {2,500) 4.347 Al 31 Mar 2024 675,0(X) 84.367 759,367 Depreclatlon At 1 Apr 2023 Charge for the year Oisposals Revaluations 38,642 8,536 {500) 3,976 38,642 22,036 {500) 3.976 13,51X) At 31 Mar 2024 13,500 ).654 64,154 Carrylng amourrt At 31 Mar 2024 661,500 33.713 695,213 713.403 At 31 Mar 2023 675.000 38.403 16. Dobtor¥ 2024 2023 Other debtors 79,798 71.491 17. Creditors: amounts falling due within one year 2024 2023 Bank loans and overdrafis Accnjals and defeTred intr&me Social security and other tsxes Other creditors 6.373 10,928 3.573 14.932 7,223 19,034 26,257 35.806 18. Creditors: amounts falllng duo after more than ong yoar 2024 2023 Bank loans and OVraftS 119.420 124,943 The loan is seryjred by fixed charges over the LrfePoinl Centre, Ffynone Road. Swansea, SA1 6BT. 23
LifePoint Church Company Limited by Guarantse Notes to the Financial Statements Ironthju Year ended 31 March 2024 18. Creditors: amounts falling due after more than one year (Gondnu8dJ The loan was taken out in 2010 for a period of 25 years al an interest rate lor 2023124 of 6%. Repayments were made at £1.271 per mnth. Interest payable during the year totalled £8.968 (2023: £5.779). 19. Penslons and other post rgtirement benerrts Deflned contributlon plans The amount recognised in income w expenditure as an expense in relation to defined contrilxrtion plans was £3.11 S (2023: £1.780). 20. Analysis of charitablo funds Unrestrlcted funds Gains and At losses 31 Mar 2024 1 Aw 2023 In(me Expenditure General funds Revaluation reserve Fixed asset fund 69.053 153,642 713,403 317.830 1245,443) 141.440 153.642 695,213 990.295 10.322 {28,512} (273.955) 936.098 328.152 Gains and At losses 31 Mar 2023 1 Apr 2022 Income Expenditure General funds Revaluation reserve Fixed asset fund 226,731 174.031 {331,708) 69,054 153,642 713.402 153.642 524.085 125.614 63,703 7S).816 299.645 {268,IJ05) 153,642 936,098 Restrlcted funds At 1 Apr 2023 Gains and At losses 31 Mar 2024 Income Expenditure LffePoint Pembroke LrfePoint Neath Joseph Fund HOPE Mayhill Building Fund Neath Building Fund 48.669 65.136 48.257 49,384 (49,021) (35,779) {1.250) {7,342} 47,905 78,741 4,294 2,850 1,080 1,000 192 720 1,000 10,0 24
LifePoint Church Company Limited by Guarantee Notes to the Financial Statements (condmm Year ended 31 March 2024 20. Analysis of charitable funds (condnued) Ransomed India Kenya SCC HOPE grant Pembs HOPE Pembs Joseph Pembs Ukraine Nealh HOPE Neath People & Places Mayhill HOPE 2.122 1.416 3.880 3.000 1.750 2.540 247 233 9.780 1.830 11,740) 11,027) 13,780) {3,000) (679} {790} (147} (120} 382 389 100 1,071 1,750 100 113 9,780 1661 149,489 {1,896) 1106,5711 121.261 134.799 At 1 Apr 2022 Gains and At losses 31 Mar 2023 Iorne ExInditUre LrfePoinl Pembroke LrfePoinl Nealh Joseph Fund HOPE Mayhill Building Fund Nealh Building Fund Ransomed India Kenya SCC HOPE grant Pembs HOPE Pembs Joseph Pembs Ukraine Neath HOPE Neath People & Pl5 Mayhill HOPE 64.838 33,195 32.175 59,017 (48,3441 (27.0761 48,669 65.136 78 7.143 (7.0291 192 720 1.C(10 105.015 98,695 (82.449) 121.261 25
LifePoint Church Company Limited by Guarantee Notes to the Financlal Statements iconthjwd) Year ended 31 March 2024 20. Analysis of charitable funds (conthued) LllePolnt Pembrokeshlre Fund has been restricted to the geographical area of Pembrokeshire. The balance re5uIt5 from cumulative surpluses over expendibjre receNed which wll be spent wthin the county on charitable aclivilies. LrfePoint Neath Fund has been restrtcted to the geographical area of Neath. The balarKe results from cumulative surpluses ovw expenditure recENed which will be spent within the county on charitable aclrvilies. Joseph Fund Fund has been restricted to assist church members in need as a direct consequence of the pandemic. Pembrokeshire has a separate Joseph Fund. HOPE Fund has been restricted to assist people in need. Pembrokeshire has a separate HOPE fvnd, as do Nealh and Mayhill. Mayhill Building Fund Fund has been restricteij to assist Iwth payments reting to the Mayhill building. Neath Building Fund Fund has been restricted to assist wbth payments relating to the Neath buikling. 21. Other finandal commltments At the year end the charity had intentions to support a number of indwiduals and organisalions lo whom the Trustees have promised ongoing finarrial support, until the nature of the recipients work changes signrftcanlly in some respect. Whenever a significant change CUrS a re-asses5menl of support is undertaken by the trustees. The Gharilable minislry support (to indude expenses) paid during the year as 8 result of suGh commitrnenls tolalled £95,986 (2023 £81.036} and was paid by monlhly inslalments. The charitable grants paid to Ministries Without Borders during the year as a result of such commitments tolalled £32.41112023 £23.151 }. £6.798 relating to the above intentions were held in the bala[ sheet at the year end {2023 £6.236). 22. Related partles The charity is a member of 2 nelwork of churches - Ministries Wtthout Borders whose charlty registration number is 1095446 arKI whose principal Offi is PO Box 4252. Cardlff. CF18FA. Dudng the year grants lotalling £32,411 (2023- £23.151) were made to Ministries Without Borders. These grants were seen as support to a connected charity which is IllIng objectives similar in nature to those of LitePoint Church. The amounts oulstanding at the year totalled £6.798 {2023- £6.236). 26
LifePoint Church Company Limited by Guarantee Management Inforniation Year ended 31 March 2024 Tho following pages do not form part of the financial statgments. 27
LifePoint Church Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Incomo and endowments Donations and legacles Tithes and Offerings Special offerings People and Places Fund Gift Building Fund HOPE Youth Charitable acltvilies Overseas aid donation$ Grants recewable 326.526 1.530 10.080 70.197 1.920 10.888 2,362 292.309 15,631 2,770 62,363 2,030 7,143 107 1,000 6.013 5,810 435,326 383.353 Other trading activities Rental income FIT Income 4.138 7.712 6.959 3.761 11.850 10.720 Investment Incomt Bank interest receNable 15.775 4,2fj7 Total Income 462,951 398,340 28
LifePoint Church Company Limited by Guarantee Detailed Statement of Financlal Actlv5tles (condft Year ended 31 March 2024 2024 2023 Expenditure Expenditure on charltabl¢ xtivitiOS Wages and salaries Employerfs NIC Pension costs Rent Rates and water Light and heal Repairs and maintenance Insurance Other estsblishment Other motorltravel costs Legal and professional fees Telephone Other office costs Depreciation Interest on bank loans and overdrafts Other interest payable and similar charges Ministry support Conference. function and events Catering and hospitality Project expenses and purchases Donated gwds and gffts IT systems and hosting Grant funding of actlvities Sundry Cleaning Overseas Projects 88,882 1,953 3,115 1,411 567 6,918 13,083 7,576 7,d43 144 9,078 1,357 7,791 22.036 8,&58 1.520 79,361 5,926 11.293 94,409 1,651 1,780 1,728 13.033 9.791 2.195 6.546 4.201 23.290 4.9)0 1.633 81.420 5.208 16.939 43.828 7.765 7.266 3.190 32.575 107 6.481 6.417 23,151 6,931 378,526 350.454 Other expenditure Loss on disposal of tangible fLxed assets held for chartvs cvm use 2.000 Total expendlture 380.526 350.454 Net income 82.425 47,886 29
LifePoint Church Company Limited by Guarantee Notes to the Detailed Ststement of Financial Activities Year ended 31 March 2024 2024 2023 Expenditure on charitablg a¢tivities Charitable actlvities Activities undertaken dirocty Wageslsalaries Employerfs NIC Pension costs Other premises Molorltravel costs 88.882 1,953 3,115 7,443 94,409 1,651 1,780 9,791 r ji 2.195 2,840 81,420 5,208 16,939 43.828 Office costs Ministry support Conference, function and events Catering and hospitality Project eXperS and purchases tr systems and hosting Sundry 4,156 79,361 5,926 11,293 44.068 3.190 107 55 249.638 260,116 Grant fundlng actlvitles Donated g(x)ds and gifts Grant funding of activities Overseas Projects 7,266 32,575 6,417 7,765 23,151 46,258 30,916 Support costs Equipment hire and servidng Rates & water Light & heat Repair5 & maintenance Insurance Legal and professional fees Telephone Other office costs Depreciation Inleresl on bank loans and overdrafts Bank charges & transaction fees Cleaning 1.411 567 6,918 13.083 7,576 7.055 1.357 3,635 22,036 8,968 1,520 6,481 1,728 13,033 2,672 1,361 23,290 4,WO 1,633 6,931 80.607 55,548 Govornance ¢05ts Governance costs- accountancy fees 2.023 3,874 Expendlture on charltsble activities 378,526 350,454 30