COMPANY REGISTRATION NUMBER: 05315859 CHARITY REGISTRATION NUMBER: 1134286
LifePoint Church Company Limited by Guarantee
Annual Report and Unaudited Financial Statements
31 March 2025
GORDON DOWN & COMPANY LIMITED
Accountants and business advisors
144 Walter Road Swansea SA1 5RW
LifePoint Church
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2025
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 10 |
| Statement of financial activities (including income and | |
| expenditure account) | 12 |
| Statement of financial position | 13 |
| Statement of cash flows | 15 |
| Notes to the financial statements | 16 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 30 |
| Notes to the detailed statement of financial activities | 32 |
LifePoint Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2025
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2025.
Objectives and activities
Vision, Mission and Values
Our Vision
Our vision is to serve our city and our communities by working in partnership to enrich and energise neighbourhoods, families and individual lives. We want to make a difference one life at a time, emotionally, mentally, socially, financially, physically and spiritually, until we see: One thousand transformed lives across South-West Wales.
Our Mission
We seek to achieve this vision practically by pursuing the church's five-fold mission statement:
Feed the hungry Heal the broken Seek the lost Sow to the nations Live like Family
How we fulfil those five mission statements on a day-to-day basis is described below.
Our Values
As we pursue our vision and fulfil our mission, we pledge to stay true to the charity's three core values: to do everything relationally, passionately and spiritually.
For us operationally that means that we seek to lead every aspect, project, department and function of church life in a way that is people-minded, heart-felt and Spirit-led.
All of the above can be summarised in four words that are of significance to us in the LifePoint family - "Love Looks Like Something."
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
1
LifePoint Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Achievements and performance
Feed the Hungry
We have continued to offer spiritual and material help to those who are facing difficult times. This has especially involved the supply of food to families and individuals in Townhill and Mayhill ~~,~~ areas which contain 5 of the 11 most deprived areas in Swansea - and on the economically challenged Garth Estate in Haverfordwest.
From its base in Swansea, LifePoint is one of the distribution centres working under the banner of Swansea Food Bank, a branch of the national charity Trussell Trust.
We are only able to successfully run our food banks due to the support of our volunteers, who give their time and provide regular donations of food and finance. The previous years demand from Mayhill has continued. In the period between April 2024 and March 2025 the LifePoint Foodbanks gave out 1957 food parcels, of which 982 were distributed from the LifePoint Centre and 975 from Mayhill Community Centre. This represents an increase from the previous year of 32% at the LifePoint Centre, 44% from Mayhill and 38% overall. In terms of the number of individuals helped, this grew by 35%, with the food parcels reaching a total of 3931 people of whom 2723 were adults - a 37% increase and 1208 were children - a 30% increase.
We have also continued to partner with the national charity FareShare, which supplies high quality fresh food each week, donated from major supermarket chains, to enrich the nutritional quality and value of the food parcels distributed at our Foodbanks.
In addition, as part of the church's own distinct Helping Ordinary People Everywhere (H.O.P.E.) project, 52 large-sized personalised Christmas Food Hampers, valued at £100, were packed and delivered to peoples' homes by volunteers. Many of these hampers included personalised wrapped toys as gifts for children in the household. We received £3,500 from the City & County of Swansea local Councillor's fund towards these personalised hampers. The City & County of Swansea grant of £4,997 that was received the previous year, was spent on providing fresh food, shelving and equipment such as a freezer and fridge. This partnership is very much appreciated and helps the church support many more local residents.
Two of the church's leaders continue to serve on the board of governors of the primary school that serves the Mayhill estate, Seaview School.
The Pembrokeshire Church also played a vital role in several significant community projects including Care Share and Give, for whom we collected and shared food packages. In Haverfordwest we wish to record our appreciation of a Town Council Grant of £1466 which supported Christmas events, primarily in the Garth Estate, enabling the distribution of 24 hampers and gifts. We were also privileged to be a partner of the Feed the Community programme offering warm space, food, friendship and introductions to ~~to s~~ upport networks for some local people struggling with life's challenges. In Fenton Primary School our volunteers staffed a variety of projects for local families and partnered with teachers to listen to pupils reading.
2
LifePoint Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Achievements and performance (continued)
Heal the broken
We aim to pray for and support people who are facing sickness or 'brokenness' in life generally, ~~- t~~ o help them recover health and dignity. We want to stand with people who have been troubled in body, mind, relationships or finance to see them restored, strong, whole, free and reconciled. We partner with Seaview School in Swansea supporting disadvantaged families that are receiving input from Swansea's Team Around The Family project. Public benefit includes speeding peoples' recovery from physical and mental illness.
Seek the lost
We aim to be a guide to those who may have lost their way in life or lost their faith. We support people practically to get back on their feet and also offer to help people find a personal faith that helps them through the challenges they face. We have been able to run two Alpha courses for those seeking spiritual guidance. These have reached a total of 25 individuals, several of whom have been baptised to mark a new season of their life and they are benefiting from week-by-week involvement in the community of local church friendships.
We also continued to reach beyond our traditional in-person congregation by uploading our messages and meetings to a much wider on-line audience. Weekly 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 and inspiration further afield.
Sow to the nations
We aim to make a difference to people living across the World. We want to embrace, enrich, learn from, befriend and support people of many different cultures and backgrounds and play our part in making the world what it was designed to be. We care for all of God's world, both the people and the planet, and want to protect and help our environments and our communities. We also work closely with Ministries Without Borders, which helps us to extend our reach into the world. To support their work, the church gifted £1400, alongside the regular giving from our tithe income.
We have continued our involvement with a church in Telangana, India and for the first time supported a church in Andhra Pradesh. Working with two churches, we were able to send £3440 in November 2024 to help flood victims, including widows, orphans and leprosy sufferers with food packs, clothing and some property repairs. The church continued with its support of the buffalo farm in Telangana, overseen by the church leader, donating £3,174. Over time, land and buffalos have been purchased, with the aim to help ~~s~~ some of the poorest communities earn a living from the project. Individuals have also donated personally towards this project.
During the year the church also made a gift £3,066 to assist the humanitarian work of the Methodist Church in Cuba, led by Bishop Ricardo. We also sent £160 to the Love Your Neighbour project in Kilifi, Kenya.
All of those overseas donations represented a total of £11,240.
3
LifePoint Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Achievements and performance (continued)
Live like family
LifePoint is a vibrant growing multicultural community consisting of people from many different nations and generations. During this financial year, the number of adults committed to play a part in our four congregations in Swansea Central, Mayhill, Neath and Haverfordwest grew from 281 to 310, a 10% increase. In total, 59 adults plus 18 children and teenagers officially joined the church during the year, the largest in-year growth in our 49-year history. A significant percentage of the growth came in in the newest of our for LifePoint congregations - the church in Neath, which grew by 20 adults and many children. This is the first time we have had a 'committed membership' of more than 300 adults in the whole LifePoint church family. With children and youth, the whole church community numbers more than 400 people.
Our aim is to be an example of a community of people who support each other as an extended family of friends. We seek to see the young, old, rich and poor, respecting and caring for one another and sharing the experiences of life together through good days and bad. Public benefit includes building strong relationships and support structures that enhance communities and minimise isolation.
All five aspects of the church's mission - Feed, Heal, Seek, Sow and Live - have been enriched in this year by the continued operation of the staff team. This includes three full-time pastors, two part-time pastors, one part-time administrator. For most of the year we were also brilliantly assisted by two young full-time leadership interns who served the church and community whilst being hosted by families in church and receiving a small bursary. Perhaps the best indicator of our family life is the thousands of volunteer hours, that enables to church to function so effectively. For example, supported by the Town and Borough Council, the LifePoint Church in Neath served their community at Christmas by hosting a Victorian Street Fayre in the town centre castle - an event that attracted 1,400 visitors and took at least 400 volunteer hours. The church in Haverfordwest continued with the allotment, which provides opportunity for the wider community involvement in producing and delivering food.
Review Processes
The charity reviews its vision, aims, objectives and activities each year, looking at what it achieved and the outcomes of its work in the previous 12 months. The review looks at the success of each key activity and helps ensure the aims, objectives and activities remain up to date. The Charity Commission's general guidance on public benefit has been referred to when reviewing aims and objectives and in planning future activities to ensure they conform with that guidance.
The website www.lifepoint.org.uk continues to profile our work in the community and support our communication. Online activities for the coming year will provide the platform for us to continue to deliver our vision and mission.
Training initiatives
The intern programme this year provided a weekly half day discipleship programme.
4
LifePoint Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Achievements and performance (continued)
Community Initiatives
The Alpha Course
This internationally used course communicates the central beliefs of Christianity in a forum where anyone can examine and discuss issues of life and faith. Attracting a wide range of participants from the local community, the course has made an important contribution to the continued growth of LifePoint Church.
H.O.P.E.
The work of this project highlighted in the Mission Statement, the title of which represents Helping Ordinary People Everywhere, provides practical help to some of the neediest people in Swansea. Tailored to meet individual needs as they arise, it includes such things as food hampers, baby hampers, children's clothing, household repairs and other provisions to needy families or individuals and enhancing the environment in local primary schools.
FL Exercise
This is run weekly by a Swansea Church member for ladies in the community, who want to develop their fitness, balance and health.
LifePoint Ladies Running Group
This runs weekly for beginners and intermediates, including those who enjoy support and encouragement for a Park Run. A few have completed 10K races, half-marathons and full marathons.
Wider Local Involvement
In addition to these specific projects, the church encourages many individual members to express their faith by becoming involved personally in other community initiatives. Some ongoing areas of involvement include budgeting advice, offering money management courses, supported by CAP (Christians Against Poverty) and governorship in schools. Direct support and care have also been provided for individuals with more specific needs such as those with addictions or other life-controlling habits, or people facing bereavement or serious illness. including mental health issues. Although these various projects are not connected to the charity, LifePoint Church provides pastoral support to those involved in these areas.
Student Initiatives
Swansea has a significant student population, but recently much of the campus has relocated outside the city, further away from the church building. However, the church has continued to promote its work in this area. We welcome both British and International students to the city and offer mentoring, meals, social occasions and opportunities to give back to the city. During the last three years we saw a significant growth in mature international students with families joining the church.
International Projects
The church is part of a network of churches overseen by Ministries Without Borders (see note 2 ~~53~~ 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 to provide support for a number of international projects in a variety of ways including raising funds and making donations. These are regularly reviewed to ensure that our involvement continues to be in the furtherance of our specific charitable objectives. A total of £11,240 donations were made to support the work overseas.
5
LifePoint Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Financial review
Principal funding sources
The charity relies upon voluntary donations from the generosity of both members and friends. It is also able to reclaim gift aid from H.M. Government.
At Trustees meetings income and expenditure is monitored on a bi-monthly basis to ensure the charity has sufficient funds to meet all its financial requirements and to fund all current projects. To strengthen our financial reporting, a bookkeeper is contracted one day a week. Xero cloud-based software now supports our accounts process, to assist managing our finances across four geographical areas. We also moved to the ChurchSuite giving software to support our HMRC gift aid claims, which rather than yearly ~~are now w~~ ill be made monthly & quarterly in the financial year 2025/26.
Due to the generosity of our ~~congregationc~~ ongregations, we were able to purchase a building in Haverfordwest in February 2025 for the church to reach the local community. Including gift aid, nearly £220,000 was raised towards the £100,000 cost of purchase and estimated refurbishment costs of £215,000, including fees, fittings and furniture. The refurbishment will commence in 2025/26 and the trustees will utilise existing property development funds already set aside and also make applications for grant funding to meet any shortfall.
The trustees have general investment powers which are restricted to the assumptions that all investments are made in 'good faith' and that professional advice is sought. The charity has no investments.
Grants are made to individuals or organisations which either are undertaking activities that are similar in nature to the charity's objectives or those whom the trustees deem to be in need or suffering hardship.
Income and expenditure
Total incoming resources for the year were £713,722. The largest source of income was from tithes and offerings which totalled £318,669 and of which £80,645 was restricted income. Additional restricted donations of £204,736 were received in respect of the Building Fund. The charity was able to claim £116,486 Gift Aid on eligible gifts and donations during the year.
Total expenditure amounted to £412,031 of which salaries, wages and direct ministry support and expenses amounted to £177,109. Depreciation charged in the accounts (included in expenditure) amounted to £28,223.
The surplus of income over expenditure in the year was £301,691 compared to £82,425 in the previous year. The primary reason for the increased surplus this year is due to donations being received in 2024/25 relating to the Haverfordwest building but which will be expended after the year end.
Total charity funds at the balance sheet date amounted to £1,441,474 of which £383,373 was restricted funds and £1,058,101 was unrestricted. Fixed assets (including the purchase cost of the Haverfordwest building) are stated at £774,447 after depreciation. Further analysis of the charity funds can be found in the notes to the accounts.
6
LifePoint Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Financial review (continued)
Reserves policy
The reserves policy aims to hold three months of related expenditure in unrestricted reserves, additional of the value of tangible assets, in order to help the charity meet the unexpected. This would include amounts to cover any financial risks as well as short term fluctuations in incoming resources. The accounting policies of the charity are detailed on pages 16-19 of the accounts and include the charity's grant making policy.
The charity has clearly identified restricted funds, to ensure donors giving is spent according to their wishes. This especially enables the charity to deploy or reserve all the money given for the work in Haverfordwest and Neath, shown in note 2 ~~10~~ to the accounts.
Risk management objectives and policies
The trustees regularly review the risk register, carefully considering the major risks to which the charity is exposed and regularly discuss risk management throughout the year at its own meetings and at those with the leaders. Systems have been established to manage those risks, which includes good financial management and budgeting, supported by a review of our reserves policy. The most significant risks faced usually relate to building management and ownership and use of volunteers, including event management. To support our endeavours, we have contracted with Avensure to help us manage Personnel & Health and Safety matters. ChurchSuite software supports the general administration of the church - for example, giving and children's work.
Plans for future periods
LifePoint Church owns and manages a facility in Swansea known as The LifePoint Centre, and throughout the 15 years of ownership, have continued to develop this so that it meets the needs of the local neighbourhood and the church community. Our expectation is that the church communities in Swansea, Neath and Haverfordwest will grow. Hence the purchase of a building in Haverfordwest, described in the financial review narrative. It is hoped that this building will be ready for occupation in the summer of 2026, or soon thereafter. In the meantime, the church will continue to meet in the Haverhub Community Centre. Neath have been meeting since its formation in 2020 in Bryncoch Community Centre. However, it is the intention during the coming year to relocate to larger premises.
We are continually reviewing our organisation and administration to adapt to the changing membership and the increasing community involvement and have volunteer leaders in place to help manage and support our work. Reflecting on our growing congregations, the part time administrative role will become full time from April 2025. Specific funds continued to be gathered ready to meet further and deeper needs in the community through the development of our facilities and staff.
7
LifePoint Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Structure, governance and management
Governing document
The charity is controlled by its governing document, Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
Trustees are appointed by the resolution of a quorum of existing Trustees. There is no external body that has the entitlement to appoint a trustee. All new Trustees are given an induction. Trustees are appointed for the particular skills that are needed for the organisation and training needs are ~~regularly~~ assessed by the Trustees and support is given where appropriate.
Organisational structure
The charity operates primarily, but not exclusively, in South Wales, having regular church meetings in both Swansea (Uplands and Mayhill), Neath and Haverfordwest. As described above, LifePoint Church employs a part-time administrator, one full-time pastor and contracts with two self-employed pastors looking after Swansea Central, Swansea Mayhill and Neath and two part-time staff members in Pembrokeshire ~~who are self-employed.~~ In addition, many of our activities are carried out voluntarily by our committed and generous members, who make possible most of the good work of the charity. In terms of legal and financial affairs, the church leaders led by Mr M Sutton-Smith, are engaged on behalf of the Trust to work within the delegated authority given by the trustees and have decisionmaking powers for the day-to-day operations of the charity. Members of the Trustee Board meet regularly with the leaders to discuss matters affecting the charity, including the limitations of their decision-making ability. Decisions that affect the incorporated charity are made solely by the Trustees themselves, in quorum.
Related Parties
In the pursuit of its objectives, the charity is a member of a network of churches entitled Ministries Without Borders, a related party and also a charity itself, which is detailed in note 23 to the accounts.
Reference and administrative details
| Registered charity name | LifePoint Church |
|---|---|
| Charity registration number | 1134286 |
| Company registration number | 05315859 |
| Principal office and registered | The LifePoint Centre |
| office | Ffynone Road |
| Swansea | |
| SA1 6BT |
The trustees
Mr M Sutton-Smith Mr M Freeman Mrs S Inglesant Mr N Homans
8
LifePoint Church
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Independent examiner
Philip Harris FCA of Gordon Down & Company Ltd 144 Walter Road Swansea SA1 5RW
The trustees' annual report and the strategic report were approved on 5 December 2025 and signed on behalf of the board of trustees by:
Mr M Freeman Trustee
9
LifePoint Church
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of LifePoint Church
Year ended 31 March 2025
I report to the trustees on my examination of the financial statements of LifePoint Church ('the charity') for the year ended 31 March 2025.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the 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 charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters 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 required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
10
LifePoint Church
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of LifePoint Church (continued)
Year ended 31 March 2025
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Philip Harris FCA of Gordon Down & Company Ltd Independent Examiner
144 Walter Road Swansea SA1 5RW
5 December 2025
11
LifePoint Church
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2025
| 2025 | 2024 | 2024 | |||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||||
| funds | funds | Total funds | Total | funds | |||
| Note | £ | £ | £ | £ | |||
| Income and endowments | |||||||
| Donations and legacies | 5 | 302,144 379,805 |
681,949 | 435,326 | |||
| Other trading activities | 6 | 10,781 – |
10,781 | 11,850 | |||
| Investment income | 7 | 15,446 5,546 |
20,992 | 15,775 | |||
───────── |
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───────── |
||||
| Total income | 328,371 385,351 |
713,722 | 462,951 | ||||
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| Expenditure | |||||||
| Expenditure on charitable activities | 8,9 | 260,565 151,466 |
412,031 | 378,526 | |||
| Other expenditure | 11 | – | – | – | 2,000 | ||
───────── |
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───────── |
───────── |
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| Total expenditure | 260,565 151,466 |
412,031 | 380,526 | ||||
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||||
| Net income and net movement in funds | 67,806 233,885 |
301,691 | 82,425 | ||||
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| Reconciliation of funds | |||||||
| Total funds brought forward as previously | |||||||
| reported | 990,295 149,488 |
1,139,783 | 1,057,359 | ||||
| Prior year adjustment | – | – | – | – | |||
───────── |
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| Total funds brought forward as restated | 990,295 149,488 |
1,139,783 | 1,057,359 | ||||
──────────── |
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──────────── |
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| Total funds carried forward | 1,058,101 383,373 |
1,441,474 | 1,139,784 | ||||
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 16 to 28 form part of these financial statements.
12
LifePoint Church
Company Limited by Guarantee
Statement of Financial Position
31 March 2025
| 2025 | 2024 | 2024 | ||
|---|---|---|---|---|
| Note | £ | £ | ||
| Fixed assets | ||||
| Tangible fixed assets | 16 | 774,447 | 695,213 | |
| Current assets | ||||
| Debtors | 17 | 77,677 | 79,798 | |
| Cash at bank and in hand | 717,847 | 519,999 | ||
───────── |
───────── |
|||
| 795,524 | 599,797 | |||
| Creditors: amounts falling due within one year | 18 | (18,562) | (35,806) | |
───────── |
───────── |
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| Net current assets | 776,962 | 563,991 | ||
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| Total assets less current liabilities | 1,551,409 | 1,259,204 | ||
| Creditors: amounts falling due after more than one year | 19 | (109,935) | (119,420) | |
──────────── |
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| Net assets | 1,441,474 | 1,139,784 | ||
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| Funds of the charity | ||||
| Restricted funds | 383,373 | 149,489 | ||
| Unrestricted funds: | ||||
| Revaluation reserve | 153,642 | 153,642 | ||
| Other unrestricted income funds | 904,459 | 836,653 | ||
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| Total unrestricted funds | 1,058,101 | 990,295 | ||
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| Total charity funds | 21 | 1,441,474 | 1,139,784 | |
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For the year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The statement of financial position continues on the following page.
The notes on pages 16 to 28 form part of these financial statements.
13
LifePoint Church
Company Limited by Guarantee
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of trustees and authorised for issue on 5 December 2025, and are signed on behalf of the board by:
Mr M Freeman Trustee
The notes on pages 16 to 28 form part of these financial statements.
14
LifePoint Church
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 301,691 | 82,425 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 28,223 | 22,036 |
| Impairment of tangible fixed assets | – | (371) |
| Depreciation of heritage assets | (1,001) | – |
| Other interest receivable and similar income | (20,992) | (15,775) |
| Interest payable and similar charges | 10,129 | 10,488 |
| Loss on disposal of tangible fixed assets | – | 2,000 |
| Accrued (income)/expenses | (8,688) | 10,928 |
| Changes in: | ||
| Trade and other debtors | 2,121 | (8,307) |
| Trade and other creditors | (10,112) | (529) |
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|
| Cash generated from operations | 301,371 | 102,895 |
| Interest paid | (10,129) | (10,488) |
| Interest received | 20,992 | 15,775 |
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|
| Net cash from operating activities | 312,234 | 108,182 |
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|
| Cash flows from investing activities | ||
| Purchase of tangible assets | (107,457) | (5,475) |
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|
| Net cash used in investing activities | (107,457) | (5,475) |
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|
| Cash flows from financing activities | ||
| Proceeds from borrowings | (7,929) | (6,373) |
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|
| Net cash used in financing activities | (7,929) | (6,373) |
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|
| Net increase in cash and cash equivalents | 196,848 | 96,334 |
| Cash and cash equivalents at beginning of year | 519,999 | 423,665 |
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|
| Cash and cash equivalents at end of year | 716,847 | 519,999 |
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The notes on pages 16 to 28 form part of these financial statements.
15
LifePoint Church
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is The LifePoint Centre, Ffynone Road, Swansea, SA1 6BT.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's 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 funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
16
LifePoint Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which 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 if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
17
LifePoint Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment 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 revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Freehold property | - | 2% straight line basis |
|---|---|---|
| Fixtures and fittings | - | 10% - 20% straight line basis |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
18
LifePoint Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Financial instruments (continued)
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal 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.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, 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 it arises.
4. Limited by guarantee
LifePoint Church is a private company limited by guarantee incorporated in England and Wales. The registered office is The LifePoint Centre, Ffynone Road, Swansea, SA1 6BT.
19
LifePoint Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
5. Donations and legacies
| Unrestricted | Restricted Total |
Restricted Total |
Funds | |
|---|---|---|---|---|
| Funds | Funds | 2025 | ||
| £ | £ | £ | ||
| Donations | ||||
| Tithes and Offerings | 238,024 | 80,645 | 318,669 | |
| Special offerings | – | 7,108 | 7,108 | |
| People and Places Fund | – | 115 | 115 | |
| Gift Aid | 64,120 | 52,366 | 116,486 | |
| Building Fund | – | 204,736 | 204,736 | |
| HOPE | – | 11,943 | 11,943 | |
| Youth | – | 1,056 | 1,056 | |
| Overseas aid donations | – | 10,042 | 10,042 | |
| Grants | ||||
| Grants receivable | – | 11,794 | 11,794 | |
───────── |
───────── |
───────── |
||
| 302,144 | 379,805 | 681,949 | ||
═════════ |
═════════ |
═════════ |
||
| Unrestricted | Restricted Total Funds |
|||
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Donations | ||||
| Tithes and Offerings | 217,947 | 108,579 | 326,526 | |
| Special offerings | 960 | 570 | 1,530 | |
| People and Places Fund | 330 | 9,750 | 10,080 | |
| Gift Aid | 67,963 | 2,235 | 70,197 | |
| Building Fund | 1,560 | 360 | 1,920 | |
| HOPE | 7,075 | 3,813 | 10,888 | |
| Youth | 2,122 | 240 | 2,362 | |
| Overseas aid donations | – | 6,013 | 6,013 | |
| Grants | ||||
| Grants receivable | 5,810 | – | 5,810 | |
───────── |
───────── |
───────── |
||
| 303,767 | 131,560 | 435,326 | ||
═════════ |
═════════ |
═════════ |
6. Other trading activities
| Unrestricted Total |
Funds Unrestricted Total |
Funds Unrestricted Total |
Funds | |
|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Rental income | 5,254 | 5,254 | 4,138 | 4,138 |
| FiT Income | 5,527 | 5,527 | 7,712 | 7,712 |
──────── |
──────── |
──────── |
──────── |
|
| 10,781 | 10,781 | 11,850 | 11,850 | |
════════ |
════════ |
════════ |
════════ |
20
LifePoint Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
7. Investment income
| Unrestricted | Restricted | Restricted | Total | Funds | |
|---|---|---|---|---|---|
| Funds | Funds | 2025 | |||
| £ | £ | £ | |||
| Bank interest receivable | 15,446 | 5,546 | 20,992 | ||
════════ |
═══════ |
════════ |
|||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Bank interest receivable | 12,535 | 3,239 | 15,775 | ||
════════ |
═══════ |
════════ |
|||
| Expenditure on charitable activities by fund type | |||||
| Unrestricted | Restricted | Total | Funds | ||
| Funds | Funds | 2025 | |||
| £ | £ | £ | |||
| Charitable activities | 174,026 | 143,301 | 317,327 | ||
| Support costs | 86,539 | 8,165 | 94,704 | ||
───────── |
───────── |
───────── |
|||
| 260,565 | 151,466 | 412,031 | |||
═════════ |
═════════ |
═════════ |
|||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Charitable activities | 190,689 | 105,206 | 295,896 | ||
| Support costs | 81,266 | 1,365 | 82,630 | ||
───────── |
───────── |
───────── |
|||
| 271,955 | 106,571 | 378,526 | |||
═════════ |
═════════ |
═════════ |
8. Expenditure on charitable activities by fund type
9. Expenditure on charitable activities by activity type
| Activities | ||||||
|---|---|---|---|---|---|---|
| undertaken | Grant | funding | Total funds | Total fund | ||
| directly | of activities Support costs | 2025 | 2024 | |||
| £ | £ | £ | £ | £ | ||
| Charitable activities | 234,718 | 82,609 | 92,988 | 410,315 | 376,503 | |
| Governance costs | – | – | 1,716 | 1,716 | 2,023 | |
───────── |
──────── |
──────── |
───────── |
───────── |
||
| 234,718 | 82,609 | 94,704 | 412,031 | 378,526 | ||
═════════ |
════════ |
════════ |
═════════ |
═════════ |
21
LifePoint Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
10. Analysis of support costs
| Analysis of | |||||||
|---|---|---|---|---|---|---|---|
| support costs | Total 2025 | Total | 2024 | ||||
| £ | £ | £ | |||||
| Premises | 30,057 | 30,057 | 28,144 | ||||
| Communications and IT | 1,981 | 1,981 | 1,357 | ||||
| General office | 50,821 | 50,821 | 40,618 | ||||
| Finance costs | 10,129 | 10,129 | 10,488 | ||||
| Governance costs | 1,716 | 1,716 | 2,023 | ||||
──────── |
──────── |
──────── |
|||||
| 94,704 | 94,704 | 82,630 | |||||
════════ |
════════ |
════════ |
|||||
| 11. | Other expenditure | ||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2025 | Funds | 2024 | ||||
| £ | £ | £ | £ | ||||
| Loss on disposal of tangible fixed | |||||||
| assets held for charity's own use | – | – | 2,000 | 2,000 | |||
════ |
════ |
═══════ |
═══════ |
||||
| 12. | Net income | ||||||
| Net income is stated after charging/(crediting): | |||||||
| 2025 | 2024 | ||||||
| £ | £ | ||||||
| Depreciation of tangible fixed assets | 28,223 | 22,036 | |||||
| Loss on disposal of tangible fixed assets | – | 2,000 | |||||
════════ |
════════ |
||||||
| 13. | Independent examination fees | ||||||
| 2025 | 2024 | ||||||
| £ | £ | ||||||
| Fees payable to the independent examiner for: | |||||||
| Independent examination of the financial | statements | 1,440 | 1,200 | ||||
═══════ |
═══════ |
||||||
| 14. | Staff costs | ||||||
| The total staff costs and employee benefits for the reporting period are analysed as | follows: | ||||||
| 2025 | 2024 | ||||||
| £ | £ | ||||||
| Wages and salaries | 83,741 | 88,882 | |||||
| Social security costs | 2,382 | 1,953 | |||||
| Employer contributions to pension plans | 3,165 | 3,115 | |||||
──────── |
──────── |
||||||
| 89,288 | 93,950 | ||||||
════════ |
════════ |
22
LifePoint Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
14. Staff costs (continued)
The average head count of employees during the year was 6 (2024: 5). The average number of full-time equivalent employees during the year is analysed as follows:
| 2025 | 2024 | |
|---|---|---|
| No. | No. | |
| Number of staff - Full time Pastors | 1 | 1 |
| Number of staff - Full time self employed pastors | 2 | 2 |
| Number of staff - Part time self employed pastors | 2 | 1 |
| Number of staff - Administrators | 1 | 1 |
──── |
──── |
|
| 6 | 5 | |
════ |
════ |
No employee received employee benefits of more than £60,000 during the year (2024: Nil).
15. Trustee remuneration and expenses
The Charity's Trust Deed makes provision for payments to be made to Trustees.
Ministry support of £87,814 (2024 - £95,986) contains support payments to one Trustee who devoted the majority of their time to the service of the church. The trustee did not receive funds for his role as trustee.
The Trustee receiving payments under contracts for services and the amounts paid are as follows:
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| M Sutton-Smith | ||
| Ministry support received | 48,312 | 47,376 |
Donations made to LifePoint Church
The aggregate value of unconditional donations made by the Trustees in the year to 31 March 2025 was £12,110 (2024 - 9,682).
Trustees' expenses
There were no Trustees' expenses paid for the year ended 31 March 2025.
In many instances the Trustees act as agents for the Charity and make purchases on its behalf, using credit cards to meet the costs of travel or to purchase book or other items in the same way as other personnel of the Charity. Such expenditure is not related to the services provided as a Trustee.
23
LifePoint Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
16. Tangible fixed assets
| Freehold | Fixtures and | Fixtures and | |||
|---|---|---|---|---|---|
| property | fittings | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 1 Apr 2024 | 675,000 | 84,367 | 759,367 | ||
| Additions | 103,448 | 4,009 | 107,457 | ||
───────── |
──────── |
───────── |
|||
| At 31 Mar 2025 | 778,448 | 88,376 | 866,824 | ||
═════════ |
════════ |
═════════ |
|||
| Depreciation | |||||
| At 1 Apr 2024 | 13,500 | 50,654 | 64,154 | ||
| Charge for the year | 15,569 | 12,654 | 28,223 | ||
───────── |
──────── |
───────── |
|||
| At 31 Mar 2025 | 29,069 | 63,308 | 92,377 | ||
═════════ |
════════ |
═════════ |
|||
| Carrying amount | |||||
| At 31 Mar 2025 | 749,379 | 25,068 | 774,447 | ||
═════════ |
════════ |
═════════ |
|||
| At 31 Mar 2024 | 661,500 | 33,713 | 695,213 | ||
═════════ |
════════ |
═════════ |
|||
| 17. | Debtors | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Other debtors | 77,677 | 79,798 | |||
════════ |
════════ |
||||
| 18. | Creditors: amounts falling due within one year | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Bank loans and overdrafts | 7,929 | 6,373 | |||
| Accruals and deferred income | 2,240 | 10,928 | |||
| Social security and other taxes | 2,939 | 3,573 | |||
| Other creditors | 5,454 | 14,932 | |||
──────── |
──────── |
||||
| 18,562 | 35,806 | ||||
════════ |
════════ |
||||
| 19. | Creditors: amounts falling due after more than one year | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Bank loans and overdrafts | 109,935 | 119,420 | |||
═════════ |
═════════ |
The loan is secured by fixed charges over the LifePoint Centre, Ffynone Road, Swansea, SA1 6BT.
The loan was taken out in 2010 for a period of 25 years at an interest rate for 2024/25 of 6%. Repayments were made at £1,271 per month.
24
LifePoint Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
19. Creditors: amounts falling due after more than one year (continued)
Interest payable during the year totalled £8,378 (2024: £8,968).
20. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £3,165 (2024: £3,115).
21. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At 1 Apr 2024 | Income Expenditure Transfers |
31 Mar 2025 | |||
| £ | £ | £ | £ | £ | |
| General funds | 141,440 | 324,363 | (234,413) | – | 231,390 |
| Revaluation reserve | 153,642 | – | – | – | 153,642 |
| Fixed asset fund | 695,213 | 4,008 | (26,152) | – | 673,069 |
───────── |
───────── |
───────── |
──── |
──────────── |
|
| 990,295 | 328,371 | (260,565) | – | 1,058,101 | |
═════════ |
═════════ |
═════════ |
════ |
════════════ |
|
| At | |||||
| At 1 Apr 2023 | Income Expenditure Transfers |
31 Mar 2024 | |||
| £ | £ | £ | £ | £ | |
| General funds | 69,053 | 317,830 | (245,443) | – | 141,440 |
| Revaluation reserve | 153,642 | – | – | – | 153,642 |
| Fixed asset fund | 713,403 | 10,322 | (28,512) | – | 695,213 |
───────── |
───────── |
───────── |
──── |
───────── |
|
| 936,098 | 328,152 | (273,955) | – | 990,295 | |
═════════ |
═════════ |
═════════ |
════ |
═════════ |
|
| Restricted funds | |||||
| At | |||||
| At 1 Apr 2024 | Income Expenditure Transfers |
31 Mar 2025 | |||
| £ | £ | £ | £ | £ | |
| LifePoint Pembroke | 47,905 | 291,504 | (68,631) | (313) | 270,465 |
| LifePoint Neath | 78,741 | 62,736 | (55,772) | – | 85,705 |
| Joseph Fund | 4,293 | – | (393) | – | 3,900 |
| HOPE | 2,850 | 9,252 | (6,484) | – | 5,618 |
| Mayhill Building Fund | 1,080 | 222 | – | – | 1,302 |
| Neath Building Fund | 1,000 | – | – | – | 1,000 |
| Swansea Building Fund | – | 1,265 | – | – | 1,265 |
| Ransomed | 382 | 951 | (1,240) | – | 93 |
| India | 389 | 5,752 | (6,454) | 313 | – |
| Kenya | 100 | 60 | (160) | – | – |
| Cuba | – | 3,949 | (3,712) | – | 237 |
25
LifePoint Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
| 21. | Analysis of charitable funds (continued) | Analysis of charitable funds (continued) | |||||
|---|---|---|---|---|---|---|---|
| Swansea Foodbank | – | 1,971 | (2,365) | – | (394) | ||
| SCC HOPE grant | – | – | – | – | – | ||
| Pembs HOPE | 1,071 | – | (906) | – | 165 | ||
| Pembs Joseph | 1,750 | – | (74) | – | 1,676 | ||
| Pembs Ukraine | 100 | – | (100) | – | – | ||
| Neath HOPE | 113 | 16 | – | – | 129 | ||
| Neath People & Places | 9,780 | – | – | – | 9,780 | ||
| Mayhill | – | 4,998 | (4,998) | – | – | ||
| Mayhill HOPE | (66) | 2,675 | (177) | – | 2,432 | ||
───────── |
───────── |
───────── |
──── |
───────── |
|||
| 149,488 | 385,351 | (151,466) | – | 383,373 | |||
═════════ |
═════════ |
═════════ |
════ |
═════════ |
|||
| At | |||||||
| At | 1 Apr 2023 | Income Expenditure |
Transfers | 31 Mar 2024 | |||
| £ | £ | £ | £ | £ | |||
| LifePoint Pembroke | 48,669 | 48,257 | (49,021) | – | 47,905 | ||
| LifePoint Neath | 65,136 | 49,384 | (35,779) | – | 78,741 | ||
| Joseph Fund | 5,544 | – | (1,250) | – | 4,294 | ||
| HOPE | 192 | 10,000 | (7,342) | – | 2,850 | ||
| Mayhill Building Fund | 720 | 360 | – | – | 1,080 | ||
| Neath Building Fund | 1,000 | – | – | – | 1,000 | ||
| Swansea Building Fund | – | – | – | – | – | ||
| Ransomed | – | 2,122 | (1,740) | – | 382 | ||
| India | – | 1,416 | (1,027) | – | 389 | ||
| Kenya | – | 3,880 | (3,780) | – | 100 | ||
| Cuba | – | – | – | – | – | ||
| Swansea Foodbank | – | – | – | – | – | ||
| SCC HOPE grant | – | 3,000 | (3,000) | – | – | ||
| Pembs HOPE | – | 1,750 | (679) | – | 1,071 | ||
| Pembs Joseph | – | 2,540 | (790) | – | 1,750 | ||
| Pembs Ukraine | – | 247 | (147) | – | 100 | ||
| Neath HOPE | – | 233 | (120) | – | 113 | ||
| Neath People & Places | – | 9,780 | – | – | 9,780 | ||
| Mayhill | – | – | – | – | – | ||
| Mayhill HOPE | – | 1,830 | (1,896) | – | (66) | ||
───────── |
───────── |
───────── |
──── |
───────── |
|||
| 121,261 | 134,799 | (106,571) | – | 149,489 | |||
═════════ |
═════════ |
═════════ |
════ |
═════════ |
26
LifePoint Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
21. Analysis of charitable funds (continued)
LifePoint Pembrokeshire
Fund has been restricted to the geographical area of Pembrokeshire. The balance results from cumulative surpluses over expenditure received which will be spent within the county on charitable activities.
LifePoint Neath
Fund has been restricted to the geographical area of Neath. The balance results from cumulative surpluses over expenditure received which will be spent within the county on charitable activities.
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 fund, as do Neath and Mayhill.
Mayhill Building Fund
Fund has been restricted to assist with payments relating to the Mayhill building.
Neath Building Fund
Fund has been restricted to assist with payments relating to the Neath building.
22. Analysis of net assets between funds
| Unrestricted Restricted |
Total Funds | Total Funds | |
|---|---|---|---|
| Funds Funds |
2025 | ||
| £ £ |
£ | ||
| Tangible fixed assets | 673,068 101,379 |
774,447 | |
| Current assets | 513,530 281,994 |
795,524 | |
| Creditors less than 1 year | (18,562) – |
(18,562) | |
| Creditors greater than 1 year | (109,935) – |
(109,935) | |
───────────────────── |
──────────── |
||
| Net assets | 1,058,101 383,373 |
1,441,474 | |
═════════════════════ |
════════════ |
||
| Unrestricted Restricted |
Total Funds | ||
| Funds Funds |
2024 | ||
| £ £ |
£ | ||
| Tangible fixed assets | 695,213 – |
695,213 | |
| Current assets | 450,308 149,489 |
599,797 | |
| Creditors less than 1 year | (35,806) – |
(35,806) | |
| Creditors greater than 1 year | (119,420) – |
(119,420) | |
────────────────── |
──────────── |
||
| Net assets | 990,295 149,489 |
1,139,784 | |
══════════════════ |
════════════ |
27
LifePoint Church
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
23. Analysis of changes in net debt
| At | |||
|---|---|---|---|
| At 1 Apr 2024 Cash flows 31 Mar |
2025 | ||
| £ | £ | £ | |
| Cash at bank and in hand | 519,999 | 197,848 | 717,847 |
| Debt due within one year | (6,373) | (1,556) | (7,929) |
| Debt due after one year | (119,420) | 9,485 | (109,935) |
───────── |
────────────────── |
||
| 394,206 | 205,777 | 599,983 | |
═════════ |
══════════════════ |
24. Other financial commitments
At the year end the charity had intentions to support a number of individuals and organisations to whom the Trustees have promised ongoing financial support, until the nature of the recipients work changes significantly in some respect. Whenever a significant change occurs a reassessment of support is undertaken by the trustees.
The charitable ministry support (to include expenses) paid during the year as a result of such commitments totalled £87,814 (2024 £95,986) and was paid by monthly instalments.
The charitable grants paid to Ministries Without Borders during the year as a result of such commitments totalled £43,034 (2024 £32,411). £7,709 relating to the above intentions were held in the balance sheet at the year end (2024 £6,798).
25. Related parties
The charity is a member of a network of churches - Ministries Without Borders whose charity registration number is 1095446 and whose principal office is PO Box 4252, Cardiff, CF1 8FA.
During the year grants totalling £43,034 (2024 - £32,411) were made to Ministries Without Borders. These grants were seen as support to a connected charity which is fulfilling objectives similar in nature to those of LifePoint Church. The amounts outstanding at the year end totalled £7,709 (2024 - £6,798).
28
LifePoint Church
Company Limited by Guarantee
Management Information
Year ended 31 March 2025
The following pages do not form part of the financial statements.
29
LifePoint Church
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2025
| 2025 |
2024 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Tithes and Offerings | 318,669 | 326,526 |
| Special offerings | 7,108 | 1,530 |
| People and Places Fund | 115 | 10,080 |
| Gift Aid | 116,486 | 70,197 |
| Building Fund | 204,736 | 1,920 |
| HOPE | 11,943 | 10,888 |
| Youth | 1,056 | 2,362 |
| Overseas aid donations | 10,042 | 6,013 |
| Grants receivable | 11,794 | 5,810 |
───────── |
───────── |
|
| 681,949 | 435,326 | |
───────── |
───────── |
|
| Other trading activities | ||
| Rental income | 5,254 | 4,138 |
| FiT Income | 5,527 | 7,712 |
──────── |
──────── |
|
| 10,781 | 11,850 | |
──────── |
──────── |
|
| Investment income | ||
| Bank interest receivable | 20,992 | 15,775 |
──────── |
──────── |
|
───────── |
───────── |
|
| Total income | 713,722 | 462,951 |
═════════ |
═════════ |
30
LifePoint Church
Company Limited by Guarantee
Detailed Statement of Financial Activities (continued)
Year ended 31 March 2025
| 2025 |
2024 | |
|---|---|---|
| £ | £ | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Wages and salaries | 83,741 | 88,882 |
| Employer's NIC | 2,382 | 1,953 |
| Pension costs | 3,165 | 3,115 |
| Rent | 3,734 | 1,411 |
| Rates and water | – | 567 |
| Light and heat | 7,655 | 6,918 |
| Repairs and maintenance | 16,944 | 13,083 |
| Insurance | 6,458 | 7,576 |
| Other establishment | 13,448 | 7,443 |
| Other motor/travel costs | 7 | 144 |
| Legal and professional fees | 10,444 | 9,078 |
| Telephone | 1,981 | 1,357 |
| Other office costs | 5,702 | 7,791 |
| Depreciation | 28,223 | 22,036 |
| Interest on bank loans and overdrafts | 8,378 | 8,968 |
| Other interest payable and similar charges | 1,751 | 1,520 |
| Ministry support | 87,814 | 79,361 |
| Conference, function and events | 8,269 | 5,926 |
| Catering and hospitality | 6,898 | 11,293 |
| Project expenses and purchases | 22,927 | 44,068 |
| Donated goods and gifts | 36,798 | 7,266 |
| IT systems and hosting | 3,881 | 3,190 |
| Grant funding of activities | 35,325 | 32,575 |
| Sundry | – | 107 |
| Cleaning | 5,620 | 6,481 |
| Overseas Projects | 10,486 | 6,417 |
───────── |
───────── |
|
| 412,031 | 378,526 | |
───────── |
───────── |
|
| Other expenditure | ||
| Loss on disposal of tangible fixed assets held for charity's own use | – | 2,000 |
──── |
─────── |
|
───────── |
───────── |
|
| Total expenditure | 412,031 | 380,526 |
═════════ |
═════════ |
|
───────── |
───────── |
|
| Net income | 301,691 | 82,425 |
═════════ |
═════════ |
31
LifePoint Church
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2025
| 2025 |
2024 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Charitable activities | ||
| Activities undertaken directly | ||
| Wages/salaries | 83,741 | 88,882 |
| Employer's NIC | 2,382 | 1,953 |
| Pension costs | 3,165 | 3,115 |
| Direct charitable activity 1 - repairs & maintenance | 1,000 | – |
| Other premises | 13,448 | 7,443 |
| Motor/travel costs | 7 | 144 |
| Office costs | 1,186 | 4,156 |
| Ministry support | 87,814 | 79,361 |
| Conference, function and events | 8,269 | 5,926 |
| Catering and hospitality | 6,898 | 11,293 |
| Project expenses and purchases | 22,927 | 44,068 |
| IT systems and hosting | 3,881 | 3,190 |
| Sundry | – | 107 |
───────── |
───────── |
|
| 234,718 | 249,638 | |
───────── |
───────── |
|
| Grant funding activities | ||
| Donated goods and gifts | 36,798 | 7,266 |
| Grant funding of activities | 35,325 | 32,575 |
| Overseas Projects | 10,486 | 6,417 |
──────── |
──────── |
|
| 82,609 | 46,258 | |
──────── |
──────── |
|
| Support costs | ||
| Equipment hire and servicing | 3,734 | 1,411 |
| Rates & water | – | 567 |
| Light & heat | 7,655 | 6,918 |
| Repairs & maintenance | 15,944 | 13,083 |
| Insurance | 6,458 | 7,576 |
| Legal and professional fees | 8,728 | 7,055 |
| Telephone | 1,981 | 1,357 |
| Other office costs | 4,516 | 3,635 |
| Depreciation | 28,223 | 22,036 |
| Interest on bank loans and overdrafts | 8,378 | 8,968 |
| Bank charges & transaction fees | 1,751 | 1,520 |
| Cleaning | 5,620 | 6,481 |
──────── |
──────── |
|
| 92,988 | 80,607 | |
──────── |
──────── |
|
| Governance costs | ||
| Governance costs - accountancy fees | 1,716 | 2,023 |
─────── |
─────── |
|
───────── |
───────── |
|
| Expenditure on charitable activities | 412,031═════════ |
378,526═════════ |
32