REGISTERED COMPANY NUMBER: 07158925 (England and Wales) REGISTERED CHARITY NUMBER: 1134576
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 28 February 2023
for
LAKES CHRISTIAN CENTRE
Ad Valorem North Chartered Tax Advisors and Accountants 2nd Floor Ramsden House 121 - 123 Duke Street Barrow in Furness Cumbria LA14 1XA
LAKES CHRISTIAN CENTRE
Contents of the Financial Statements for the Year Ended 28 February 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Statement of Financial Activities | 2 | ||
| Balance Sheet | 3 | ||
| Notes to the Financial Statements | 4 | to | 9 |
| Detailed Statement of Financial Activities | 10 | to | 11 |
LAKES CHRISTIAN CENTRE
Report of the Trustees
for the Year Ended 28 February 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07158925 (England and Wales)
Registered Charity number 1134576
Registered office
Garthmere Park Road Windermere Cumbria LA23 2DH
Trustees
P A Bell S F M Berry J F Bowyer M A Horsman
Company Secretary
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ S F M Berry - Trustee
Page 1
LAKES CHRISTIAN CENTRE
Statement of Financial Activities for the Year Ended 28 February 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 80,023 Other trading activities 2 16,174 Investment income 3 2,029 Total 98,226 EXPENDITURE ON Raising funds 4 287,419 Other 8,670 Total 296,089 NET INCOME/(EXPENDITURE) (197,863) RECONCILIATION OF FUNDS Total funds brought forward 215,882 TOTAL FUNDS CARRIED FORWARD 18,019 |
Restricted fund £ - - - - - - - - 141,426 141,426 |
28.2.23 Total funds £ 80,023 16,174 2,029 98,226 287,419 8,670 296,089 (197,863) 357,308 159,445 |
28.2.22 Total funds £ 100,528 14,615 1,971 117,114 163,492 11,651 175,143 (58,029) 415,337 357,308 |
|---|---|---|---|
The notes form part of these financial statements
Page 2
LAKES CHRISTIAN CENTRE
Balance Sheet
28 February 2023
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 1,075 CURRENT ASSETS Cash at bank and in hand 9 19,944 CREDITORS Amounts falling due within one year 10 (3,000) NET CURRENT ASSETS 16,944 TOTAL ASSETS LESS CURRENT LIABILITIES 18,019 NET ASSETS 18,019 FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - 141,426 - 141,426 141,426 141,426 |
28.2.23 Total funds £ 1,075 161,370 (3,000) 158,370 159,445 159,445 18,019 141,426 159,445 |
28.2.22 Total funds £ 1,433 365,930 (10,055) 355,875 357,308 357,308 145,115 212,193 357,308 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. S F M Berry - Trustee
The notes form part of these financial statements
Page 3
LAKES CHRISTIAN CENTRE
Notes to the Financial Statements for the Year Ended 28 February 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. OTHER TRADING ACTIVITIES
| 28.2.23 | 28.2.22 | |
|---|---|---|
| £ | £ | |
| Elliot Berry Income | 2,620 | 2,330 |
| Noah initiative | 600 | 600 |
| Sedbergh christian centre | - | 560 |
| Tumaini children home kenya | 5,840 | 8,725 |
| Life association | 400 | 1,200 |
| Open doors | 400 | 1,200 |
| Financial blessings | 3,079 | - |
| Room rental | 35 | - |
| General funds one-off donation | 1,000 | - |
| Carried forward | 13,974 | 14,615 |
continued...
Page 4
LAKES CHRISTIAN CENTRE
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
| 2. OTHER TRADING ACTIVITIES - continued Brought forward Building fund donations 3. INVESTMENT INCOME CBS Interest 4. RAISING FUNDS Raising donations and legacies Rents room hire and rates Missions grants & donations Education & training Support costs 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
28.2.23 £ 13,974 2,200 16,174 28.2.23 £ 2,029 28.2.23 £ 1,433 20,990 - 262,462 284,885 28.2.23 £ 358 |
28.2.22 £ 14,615 - 14,615 28.2.22 £ 1,971 28.2.22 £ 1,470 23,658 603 - |
|---|---|---|
| 25,731 | ||
| 28.2.22 £ 358 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28 February 2023 nor for the year ended 28 February 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 28 February 2023 nor for the year ended 28 February 2022.
Page 5
continued...
LAKES CHRISTIAN CENTRE
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 100,528 Other trading activities 14,615 Investment income 1,971 Total 117,114 EXPENDITURE ON Raising funds 163,492 Other 11,651 Total 175,143 NET INCOME/(EXPENDITURE) (58,029) RECONCILIATION OF FUNDS Total funds brought forward 203,144 TOTAL FUNDS CARRIED FORWARD 145,115 8. TANGIBLE FIXED ASSETS COST At 1 March 2022 and 28 February 2023 DEPRECIATION At 1 March 2022 Charge for year At 28 February 2023 NET BOOK VALUE At 28 February 2023 At 28 February 2022 |
Restricted fund £ - - - - - - - - 212,193 212,193 |
Total funds £ 100,528 14,615 1,971 117,114 163,492 11,651 175,143 (58,029) 415,337 357,308 Fixtures and fittings £ 7,131 5,698 358 6,056 1,075 1,433 |
|---|---|---|
Page 6
continued...
LAKES CHRISTIAN CENTRE
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
9. CASH IN HAND
| Unrestricted Restricted General General fund Fund £ £ Cash in hand (342) - General Fund 17,496 11,561 Savings - 96,616 Building Fund - 30,951 Missions 2,790 2,298 Total 19,944 141,426 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 11) Trade creditors Accruals and deferred income Accrued expenses 11. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts 12. MOVEMENT IN FUNDS At 1.3.22 £ Unrestricted funds Unrestricted General fund 215,882 Restricted funds Restricted General Fund 141,426 TOTAL FUNDS 357,308 |
28.2.23 Total funds £ (342) 29,057 96,616 30,951 5,088 161,370 28.2.23 £ - (1) 2,376 625 3,000 28.2.23 £ - Net movement in funds £ (197,863) - (197,863) |
28.2.22 Total funds £ 442 75,577 3,402 275,119 11,390 365,930 28.2.22 £ 9,431 (1) - 625 10,055 28.2.22 £ 9,431 At 28.2.23 £ 18,019 141,426 159,445 |
||
|---|---|---|---|---|
continued...
Page 7
LAKES CHRISTIAN CENTRE
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds Unrestricted General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds Unrestricted General fund Restricted funds Restricted General Fund TOTAL FUNDS |
Incoming resources £ 98,226 98,226 At 1.3.21 £ 203,144 212,193 415,337 |
Resources Movement expended in funds £ £ (296,089) (197,863) (296,089) (197,863) Net movement At in funds 28.2.22 £ £ (58,029) 145,115 - 212,193 (58,029) 357,308 |
|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds Unrestricted General fund TOTAL FUNDS |
Incoming resources £ 117,114 117,114 |
Resources Movement expended in funds £ £ (175,143) (58,029) (175,143) (58,029) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds Unrestricted General fund Restricted funds Restricted General Fund TOTAL FUNDS |
At 1.3.21 £ 203,144 212,193 415,337 |
Net movement in funds £ (255,892) - (255,892) |
At 28.2.23 £ (52,748) 212,193 159,445 |
|---|---|---|---|
continued...
Page 8
LAKES CHRISTIAN CENTRE
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds Unrestricted General fund TOTAL FUNDS |
Incoming resources £ 215,340 215,340 |
Resources Movement expended in funds £ £ (471,232) (255,892) (471,232) (255,892) |
|---|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2023.
Page 9
LAKES CHRISTIAN CENTRE
Detailed Statement of Financial Activities for the Year Ended 28 February 2023
| Detailed Statement of Financial Activities for the Year Ended 28 February 2023 |
||
|---|---|---|
| 28.2.23 | 28.2.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | (1) | 2 |
| Gift aid | 10,385 | 17,594 |
| General Funds In | 69,639 | 82,932 |
| 80,023 | 100,528 | |
| Other trading activities | ||
| Elliot Berry Income | 2,620 | 2,330 |
| Noah initiative | 600 | 600 |
| Sedbergh christian centre | - | 560 |
| Tumaini children home kenya | 5,840 | 8,725 |
| Life association | 400 | 1,200 |
| Open doors | 400 | 1,200 |
| Financial blessings | 3,079 | - |
| Room rental | 35 | - |
| General funds one-off donation | 1,000 | - |
| Building fund donations | 2,200 | - |
| 16,174 | 14,615 | |
| Investment income | ||
| CBS Interest | 2,029 | 1,971 |
| Total incoming resources | 98,226 | 117,114 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Rents room hire and rates | 1,433 | 1,470 |
| Missions grants & donations | 20,990 | 23,658 |
| Education & training | - | 603 |
| 22,423 | 25,731 | |
| Other | ||
| Pastor's expenses | 1,005 | 1,266 |
| Leadership meetings | 379 | 527 |
| Sub team expenses | 7,286 | 9,858 |
| 8,670 | 11,651 | |
| Support costs | ||
| Management | ||
| Wages | 65,125 | 53,665 |
| Pensions | 4,457 | 3,468 |
| Light and heat | 2,969 | 2,288 |
| Carried forward | 72,551 | 59,421 |
This page does not form part of the statutory financial statements
Page 10
LAKES CHRISTIAN CENTRE
Detailed Statement of Financial Activities for the Year Ended 28 February 2023
| Detailed Statement of Financial Activities for the Year Ended 28 February 2023 |
||
|---|---|---|
| 28.2.23 | 28.2.22 | |
| £ | £ | |
| Management | ||
| Brought forward | 72,551 | 59,421 |
| Postage and stationery | 35 | 434 |
| Sundries | 1,107 | 362 |
| Repairs & renewals | 664 | 538 |
| Ministry expenses | 400 | 150 |
| Telephone & internet | 948 | 652 |
| Accountancy Fees | 1,692 | 1,230 |
| Software and website | 2,524 | 930 |
| Waste & cleaning | 1,663 | 1,228 |
| Building work | 174,374 | 69,731 |
| Subscriptions | 90 | 90 |
| Bookkeeper | 1,795 | 1,015 |
| Xmas decorations | 474 | 697 |
| iknow church | 300 | 300 |
| 258,617 | 136,778 | |
| Finance | ||
| Insurance | 3,845 | - |
| Other | ||
| Fixtures and fittings | 358 | 358 |
| Governance costs | ||
| Accountancy and legal fees | 2,176 | 625 |
| Total resources expended | 296,089 | 175,143 |
| Net expenditure | (197,863) | (58,029) |
This page does not form part of the statutory financial statements
Page 11