**REGISTERED COMPANY NUMBER: 07158925 (England and Wales) REGISTERED CHARITY NUMBER: 1134576** 

## Report of the Trustees and 

Unaudited Financial Statements for the Year Ended 29 February 2024 

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 29 February 2024 

|||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 29 February 2024 

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 29 February 2024. 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 21 November 2024 and signed on its behalf by: 

S F M Berry - Trustee 

Page 1 



LAKES CHRISTIAN CENTRE 

## Statement of Financial Activities for the Year Ended 29 February 2024 

|Unrestricted<br>fund<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>117,127<br>Other trading activities<br>2<br>38,629<br>Investment income<br>3<br>2,857<br>**Total**<br>158,613<br>**EXPENDITURE ON**<br>Raising funds<br>4<br>112,772<br>Other<br>8,082<br>**Total**<br>120,854<br>**NET INCOME/(EXPENDITURE)**<br>37,759<br>**Other recognised gains/(losses)**<br>Gains on revaluation of fixed assets<br>600,000<br>**Net movement in funds**<br>637,759<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>142,234<br>**TOTAL FUNDS CARRIED FORWARD**<br>779,993|Restricted<br>fund<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>17,211<br>17,211|29.2.24<br>Total<br>funds<br>£<br>117,127<br>38,629<br>2,857<br>158,613<br>112,772<br>8,082<br>120,854<br>37,759<br>600,000<br>637,759<br>159,445<br>797,204|28.2.23<br>Total<br>funds<br>£<br>80,023<br>16,174<br>2,029<br>98,226<br>287,419<br>8,670<br>296,089<br>(197,863)<br>-<br>(197,863)<br>357,308<br>159,445|
|---|---|---|---|



The notes form part of these financial statements 

Page 2 



LAKES CHRISTIAN CENTRE 

## Balance Sheet 

## 29 February 2024 

|Notes<br>**FIXED ASSETS**<br>Tangible assets<br>8<br>**CURRENT ASSETS**<br>Debtors<br>9<br>Cash at bank and in hand<br>10<br>**CREDITORS**<br>Amounts falling due within one year<br>11<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>12<br>Unrestricted funds<br>Restricted funds<br>**TOTAL FUNDS**|Unrestricted<br>fund<br>£<br>601,075<br>165,999<br>15,919<br>181,918<br>(3,000)<br>178,918<br>779,993<br>779,993|Restricted<br>fund<br>£<br>-<br>-<br>17,211<br>17,211<br>-<br>17,211<br>17,211<br>17,211|29.2.24<br>Total<br>funds<br>£<br>601,075<br>165,999<br>33,130<br>199,129<br>(3,000)<br>196,129<br>797,204<br>797,204<br>779,993<br>17,211<br>797,204|28.2.23<br>Total<br>funds<br>£<br>1,075<br>-<br>161,370<br>161,370<br>(3,000)<br>158,370<br>159,445<br>159,445<br>18,019<br>141,426<br>159,445|
|---|---|---|---|---|



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024. 

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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 21 November 2024 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 29 February 2024 

## **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** 

||29.2.24|28.2.23|
|---|---|---|
||£|£|
|Elliot Berry Income|-|2,620|
|Noah initiative|-|600|
|Tumaini children home kenya|-|5,840|
|Life association|-|400|
|Open doors|-|400|
|Financial blessings|33,420|3,079|
|Room rental|-|35|
|General funds one-off donation|5,209|1,000|
|Building fund donations|-|2,200|
|Carried forward|38,629|16,174|



continued... 

Page 4 



LAKES CHRISTIAN CENTRE 

Notes to the Financial Statements - continued for the Year Ended 29 February 2024 

|**2.**<br>**OTHER TRADING ACTIVITIES - continued**<br>Brought forward<br>**3.**<br>**INVESTMENT INCOME**<br>CBS Interest<br>**4.**<br>**RAISING FUNDS**<br>**Raising donations and legacies**<br>Rents room hire and rates<br>Missions grants & donations<br>Support costs<br>**5.**<br>**NET INCOME/(EXPENDITURE)**<br>Net income/(expenditure) is stated after charging/(crediting):<br>Depreciation - owned assets<br>**6.**<br>**TRUSTEES' REMUNERATION AND BENEFITS**|29.2.24<br>£<br>38,629<br>38,629<br>29.2.24<br>£<br>2,857<br>29.2.24<br>£<br>1,489<br>12,844<br>97,585<br>111,918<br>29.2.24<br>£<br>-|28.2.23<br>£<br>16,174<br>16,174<br>28.2.23<br>£<br>2,029<br>28.2.23<br>£<br>1,433<br>20,990<br>262,462|28.2.23<br>£<br>16,174<br>16,174<br>28.2.23<br>£<br>2,029<br>28.2.23<br>£<br>1,433<br>20,990<br>262,462|
|---|---|---|---|
|||284,885||
|||28.2.23<br>£<br>358||
|||||



There were no trustees' remuneration or other benefits for the year ended 29 February 2024 nor for the year ended 28 February 2023. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 29 February 2024 nor for the year ended 28 February 2023. 

Page 5 

continued... 



LAKES CHRISTIAN CENTRE 

Notes to the Financial Statements - continued for the Year Ended 29 February 2024 

|**7.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**<br>Unrestricted<br>fund<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>80,023<br>Other trading activities<br>16,174<br>Investment income<br>2,029<br>**Total**<br>98,226<br>**EXPENDITURE ON**<br>Raising funds<br>287,419<br>Other<br>8,670<br>**Total**<br>296,089<br>**NET INCOME/(EXPENDITURE)**<br>(197,863)<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>215,882<br>**TOTAL FUNDS CARRIED FORWARD**<br>18,019<br>**8.**<br>**TANGIBLE FIXED ASSETS**<br>Freehold<br>property<br>£<br>**COST**<br>At 1 March 2023<br>-<br>Additions<br>600,000<br>At 29 February 2024<br>600,000<br>**DEPRECIATION**<br>At 1 March 2023 and 29 February 2024<br>-<br>**NET BOOK VALUE**<br>At 29 February 2024<br>600,000<br>At 28 February 2023<br>-||Restricted<br>fund<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>141,426<br>141,426<br>Fixtures<br>and<br>fittings<br>£<br>7,131<br>-<br>7,131<br>6,056<br>1,075<br>1,075|Total<br>funds<br>£<br>80,023<br>16,174<br>2,029<br>98,226<br>287,419<br>8,670<br>296,089<br>(197,863)<br>357,308<br>159,445<br>Totals<br>£<br>7,131<br>600,000<br>607,131<br>6,056<br>601,075<br>1,075|
|---|---|---|---|
|||||
|||||
|||||
|||||



Page 6 

continued... 



LAKES CHRISTIAN CENTRE 

Notes to the Financial Statements - continued for the Year Ended 29 February 2024 

## **9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Amounts owed by group undertakings<br>**10.**<br>**CASH AT BANK AND IN HAND**<br>Cash in hand<br>General Fund<br>Savings<br>Building Fund<br>Missions<br>Total|Unrestricted<br>General<br>fund<br>£<br>(342)<br>16,261<br>-<br>-<br>-<br>15,919|Restricted<br>General<br>Fund<br>£<br>-<br>-<br>11,500<br>3,413<br>2,298<br>17,211|29.2.24<br>£<br>165,999<br>29.2.24<br>Total<br>funds<br>£<br>(342)<br>16,261<br>11,500<br>3,413<br>2,298<br>33,130|28.2.23<br>£<br>-<br>28.2.23<br>Total<br>funds<br>£<br>(342)<br>29,057<br>96,616<br>30,951<br>5,088<br>161,370|
|---|---|---|---|---|



|**11.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade creditors<br>Accruals and deferred income<br>Accrued expenses<br>**12.**<br>**MOVEMENT IN FUNDS**<br>At 1.3.23<br>£<br>**Unrestricted funds**<br>Unrestricted General fund<br>142,234<br>**Restricted funds**<br>Restricted General Fund<br>17,211<br>**TOTAL FUNDS**<br>159,445<br>Net movement in funds, included in the above are as follows:<br>Incoming<br>Resources<br>resources<br>expended<br>£<br>£<br>**Unrestricted funds**<br>Unrestricted General fund<br>158,613<br>(120,854)<br>**TOTAL FUNDS**<br>158,613<br>(120,854)|29.2.24<br>28.2.23<br>£<br>£<br>(1)<br>(1)<br>2,376<br>2,376<br>625<br>625<br>3,000<br>3,000<br>Net<br>movement<br>At<br>in funds<br>29.2.24<br>£<br>£<br>637,759<br>779,993<br>-<br>17,211<br>637,759<br>797,204<br>Gains and<br>Movement<br>losses<br>in funds<br>£<br>£<br>600,000<br>637,759<br>600,000<br>637,759|
|---|---|



continued... 

Page 7 



LAKES CHRISTIAN CENTRE 

Notes to the Financial Statements - continued for the Year Ended 29 February 2024 

## **12. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

|At 1.3.22<br>£<br>**Unrestricted funds**<br>Unrestricted General fund<br>215,882<br>**Restricted funds**<br>Restricted General Fund<br>141,426<br>**TOTAL FUNDS**<br>357,308<br>Comparative net movement in funds, included in the above are as follows:<br>Incoming<br>resources<br>£<br>**Unrestricted funds**<br>Unrestricted General fund<br>98,226<br>**TOTAL FUNDS**<br>98,226|Net<br>movement<br>At<br>in funds<br>28.2.23<br>£<br>£<br>(197,863)<br>18,019<br>-<br>141,426<br>(197,863)<br>159,445<br>Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(296,089)<br>(197,863)<br>(296,089)<br>(197,863)|At<br>28.2.23<br>£<br>18,019<br>141,426|
|---|---|---|
|||159,445|
|||(197,863)|



A current year 12 months and prior year 12 months combined position is as follows: 

|**Unrestricted funds**<br>Unrestricted General fund<br>**Restricted funds**<br>Restricted General Fund<br>**TOTAL FUNDS**|At 1.3.22<br>£<br>215,882<br>141,426<br>357,308|Net<br>movement<br>in funds<br>£<br>439,896<br>-<br>439,896|At<br>29.2.24<br>£<br>655,778<br>141,426|
|---|---|---|---|
||||797,204|



A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>Unrestricted General fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>256,839<br>256,839|Resources<br>expended<br>£<br>(416,943)<br>(416,943)|Gains and<br>Movement<br>losses<br>in funds<br>£<br>£<br>600,000<br>439,896<br>600,000<br>439,896|Gains and<br>Movement<br>losses<br>in funds<br>£<br>£<br>600,000<br>439,896<br>600,000<br>439,896|
|---|---|---|---|---|
|||||439,896|



continued... 

Page 8 



LAKES CHRISTIAN CENTRE 

Notes to the Financial Statements - continued for the Year Ended 29 February 2024 

## **13. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 29 February 2024. 

Page 9 



LAKES CHRISTIAN CENTRE 

Detailed Statement of Financial Activities for the Year Ended 29 February 2024 

|Detailed Statement of Financial Activities<br>for the Year Ended 29 February 2024|||
|---|---|---|
||29.2.24|28.2.23|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Gifts|-|(1)|
|Gift aid|96,739|10,385|
|General Funds In|20,388|69,639|
||117,127|80,023|
|**Other trading activities**|||
|Elliot Berry Income|-|2,620|
|Noah initiative|-|600|
|Tumaini children home kenya|-|5,840|
|Life association|-|400|
|Open doors|-|400|
|Financial blessings|33,420|3,079|
|Room rental|-|35|
|General funds one-off donation|5,209|1,000|
|Building fund donations|-|2,200|
||38,629|16,174|
|**Investment income**|||
|CBS Interest|2,857|2,029|
|**Total incoming resources**|158,613|98,226|
|**EXPENDITURE**|||
|**Raising donations and legacies**|||
|Rents room hire and rates|1,489|1,433|
|Missions grants & donations|12,844|20,990|
||14,333|22,423|
|**Other**|||
|Pastor's expenses|1,401|1,005|
|Leadership meetings|-|379|
|Sub team expenses|6,681|7,286|
||8,082|8,670|
|**Support costs**|||
|**Management**|||
|Wages|67,916|65,125|
|Pensions|4,817|4,457|
|Light and heat|11,235|2,969|
|Postage and stationery|-|35|
|Sundries|956|1,107|
|Carried forward|84,924|73,693|



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 29 February 2024 

|Detailed Statement of Financial Activities<br>for the Year Ended 29 February 2024|||
|---|---|---|
||29.2.24|28.2.23|
||£|£|
|**Management**|||
|Brought forward|84,924|73,693|
|Repairs & renewals|2,688|664|
|Ministry expenses|2,380|400|
|Telephone & internet|892|948|
|Accountancy Fees|615|1,692|
|Software and website|308|2,524|
|Waste & cleaning|1,231|1,663|
|Building work|314|174,374|
|Subscriptions|109|90|
|Bookkeeper|1,089|1,795|
|Xmas decorations|179|474|
|iknow church|300|300|
||95,029|258,617|
|**Finance**|||
|Insurance|1,953|3,845|
|**Other**|||
|Fixtures and fittings|-|358|
|**Governance costs**|||
|Accountancy and legal fees|1,457|2,176|
|Total resources expended|120,854|296,089|
|**Net income/(expenditure)**|37,759|(197,863)|



This page does not form part of the statutory financial statements 

Page 11