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 2025
for
LAKES CHRISTIAN CENTRE
Ad Valorem North Chartered Tax Advisors and Accountants 121-123 Duke Street Barrow in Furness Cumbria LA14 1XA
LAKES CHRISTIAN CENTRE
Contents of the Financial Statements for the Year Ended 28 February 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Statement of Financial Activities | 2 | ||
| Balance Sheet | 3 | to | 4 |
| Notes to the Financial Statements | 5 | to | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |
LAKES CHRISTIAN CENTRE
Report of the Trustees
for the Year Ended 28 February 2025
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 2025. 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
121-123 Duke Street Barrow in Furness Cumbria LA14 1XA
Trustees
P A Bell S F M Berry J F Bowyer M A Horsman S A Carter Director (appointed 16.8.24)
Company Secretary
Approved by order of the board of trustees on 27 November 2025 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 2025
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 116,604 Other trading activities 2 8,004 Investment income 3 594 Total 125,202 EXPENDITURE ON Raising funds 4 12,009 Other 111,713 Total 123,722 NET INCOME 1,480 Other recognised gains/(losses) Gains on revaluation of fixed assets - Net movement in funds 1,480 RECONCILIATION OF FUNDS Total funds brought forward 770,555 TOTAL FUNDS CARRIED FORWARD 772,035 |
Restricted fund £ - - - - - - - - - - 26,649 26,649 |
28.2.25 Total funds £ 116,604 8,004 594 125,202 12,009 111,713 123,722 1,480 - 1,480 797,204 798,684 |
29.2.24 Total funds £ 117,127 38,629 2,857 |
|---|---|---|---|
| 158,613 | |||
| 112,772 8,082 |
|||
| 120,854 | |||
| 37,759 600,000 |
|||
| 637,759 159,445 |
|||
| 797,204 |
The notes form part of these financial statements
Page 2
LAKES CHRISTIAN CENTRE
Balance Sheet
28 February 2025
| Notes FIXED ASSETS Tangible assets 8 CURRENT ASSETS Debtors 9 Cash at bank and in hand 10 CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 600,806 165,999 8,230 174,229 (3,000) 171,229 772,035 772,035 |
Restricted fund £ - - 26,649 26,649 - 26,649 26,649 26,649 |
28.2.25 Total funds £ 600,806 165,999 34,879 200,878 (3,000) 197,878 798,684 798,684 772,035 26,649 798,684 |
29.2.24 Total funds £ 601,075 165,999 33,130 199,129 (3,000) 196,129 797,204 797,204 779,993 17,211 797,204 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.
The notes form part of these financial statements
continued...
Page 3
LAKES CHRISTIAN CENTRE
Balance Sheet - continued
28 February 2025
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 27 November 2025 and were signed on its behalf by:
S F M Berry - Trustee
The notes form part of these financial statements
Page 4
LAKES CHRISTIAN CENTRE
Notes to the Financial Statements for the Year Ended 28 February 2025
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.
Page 5
continued...
LAKES CHRISTIAN CENTRE
Notes to the Financial Statements - continued for the Year Ended 28 February 2025
| 2. OTHER TRADING ACTIVITIES Financial blessings General funds one-off donation 3. INVESTMENT INCOME CBS Interest 4. RAISING FUNDS Raising donations and legacies Rents room hire and rates Missions grants & donations Support costs 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
28.2.25 £ 974 7,030 8,004 28.2.25 £ 594 28.2.25 £ 1,510 10,230 269 12,009 28.2.25 £ 269 |
29.2.24 £ 33,420 5,209 38,629 29.2.24 £ 2,857 29.2.24 £ 1,489 12,844 97,585 |
|---|---|---|
| 111,918 | ||
| 29.2.24 £ - |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 28 February 2025 nor for the year ended 29 February 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 28 February 2025 nor for the year ended 29 February 2024.
Page 6
continued...
LAKES CHRISTIAN CENTRE
Notes to the Financial Statements - continued for the Year Ended 28 February 2025
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 117,127 Other trading activities 38,629 Investment income 2,857 Total 158,613 EXPENDITURE ON Raising funds 112,772 Other 8,082 Total 120,854 NET INCOME 37,759 Other recognised gains/(losses) Gains on revaluation of fixed assets 600,000 Net movement in funds 637,759 RECONCILIATION OF FUNDS Total funds brought forward 142,234 TOTAL FUNDS CARRIED FORWARD 779,993 8. TANGIBLE FIXED ASSETS Freehold property £ COST At 1 March 2024 and 28 February 2025 600,000 DEPRECIATION At 1 March 2024 - Charge for year - At 28 February 2025 - NET BOOK VALUE At 28 February 2025 600,000 At 29 February 2024 600,000 |
Restricted fund £ - - - - - - - - - - 17,211 17,211 Fixtures and fittings £ 7,131 6,056 269 6,325 806 1,075 |
Total funds £ 117,127 38,629 2,857 158,613 112,772 8,082 120,854 37,759 600,000 637,759 159,445 797,204 Totals £ 607,131 6,056 269 6,325 600,806 601,075 |
Total funds £ 117,127 38,629 2,857 |
|---|---|---|---|
| 158,613 | |||
| 112,772 8,082 |
|||
| 120,854 | |||
| 37,759 600,000 |
|||
| 637,759 159,445 |
|||
| 797,204 |
continued...
Page 7
LAKES CHRISTIAN CENTRE
Notes to the Financial Statements - continued for the Year Ended 28 February 2025
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Amounts owed by group undertakings 10. CASH AT BANK AND IN HAND Unrestricted General fund £ Cash in hand (342) General Fund 8,572 Savings - Building Fund - Missions - Total 8,230 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accruals and deferred income Accrued expenses 12. MOVEMENT IN FUNDS Unrestricted funds Unrestricted General fund Restricted funds Restricted General Fund TOTAL FUNDS |
Restricted General Fund £ - - 16,984 3,675 5,990 26,649 At 1.3.24 £ 770,555 26,649 797,204 |
28.2.25 £ 165,999 28.2.25 Total funds £ (342) 8,572 16,984 3,675 5,990 34,879 28.2.25 £ (1) 2,376 625 3,000 Net movement in funds £ 1,480 - 1,480 |
29.2.24 £ 165,999 29.2.24 Total funds £ (342) 16,261 11,500 3,413 2,298 33,130 29.2.24 £ (1) 2,376 625 3,000 At 28.2.25 £ 772,035 26,649 798,684 |
|---|---|---|---|
continued...
Page 8
LAKES CHRISTIAN CENTRE
Notes to the Financial Statements - continued for the Year Ended 28 February 2025
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds Unrestricted General fund 125,202 TOTAL FUNDS 125,202 Comparatives for movement in funds At 1.3.23 £ Unrestricted funds Unrestricted General fund 142,234 Restricted funds Restricted General Fund 17,211 TOTAL FUNDS 159,445 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds Unrestricted General fund 158,613 (120,854) TOTAL FUNDS 158,613 (120,854) |
Resources Movement expended in funds £ £ (123,722) 1,480 (123,722) 1,480 Net movement At in funds 29.2.24 £ £ 637,759 779,993 - 17,211 637,759 797,204 Gains and Movement losses in funds £ £ 600,000 637,759 600,000 637,759 |
Resources Movement expended in funds £ £ (123,722) 1,480 (123,722) 1,480 Net movement At in funds 29.2.24 £ £ 637,759 779,993 - 17,211 637,759 797,204 Gains and Movement losses in funds £ £ 600,000 637,759 600,000 637,759 |
|---|---|---|
| 637,759 |
continued...
Page 9
LAKES CHRISTIAN CENTRE
Notes to the Financial Statements - continued for the Year Ended 28 February 2025
12. MOVEMENT IN FUNDS - continued
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 1.3.23 £ 142,234 17,211 159,445 |
Net movement in funds £ 639,239 - 639,239 |
At 28.2.25 £ 781,473 17,211 |
|---|---|---|---|
| 798,684 |
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 £ 283,815 283,815 |
Resources expended £ (244,576) (244,576) |
Gains and Movement losses in funds £ £ 600,000 639,239 600,000 639,239 |
Gains and Movement losses in funds £ £ 600,000 639,239 600,000 639,239 |
|---|---|---|---|---|
| 639,239 |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 28 February 2025.
Page 10
LAKES CHRISTIAN CENTRE
Detailed Statement of Financial Activities for the Year Ended 28 February 2025
| Detailed Statement of Financial Activities for the Year Ended 28 February 2025 |
||
|---|---|---|
| 28.2.25 | 29.2.24 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | (2) | - |
| Gift aid | 102,142 | 96,739 |
| General Funds In | 14,464 | 20,388 |
| 116,604 | 117,127 | |
| Other trading activities | ||
| Financial blessings | 974 | 33,420 |
| General funds one-off donation | 7,030 | 5,209 |
| 8,004 | 38,629 | |
| Investment income | ||
| CBS Interest | 594 | 2,857 |
| Total incoming resources | 125,202 | 158,613 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Rents room hire and rates | 1,510 | 1,489 |
| Missions grants & donations | 10,230 | 12,844 |
| 11,740 | 14,333 | |
| Other | ||
| Pastor's expenses | 1,342 | 1,401 |
| Leadership meetings | 680 | - |
| Sub team expenses | 2,613 | 6,681 |
| 4,635 | 8,082 | |
| Support costs | ||
| Management | ||
| Wages | 71,064 | 67,916 |
| Pensions | 5,002 | 4,817 |
| Light and heat | 17,876 | 11,235 |
| Postage and stationery | 15 | - |
| Sundries | 2,896 | 956 |
| Repairs & renewals | 1,079 | 2,688 |
| Ministry expenses | 40 | 2,380 |
| Carried forward | 97,972 | 89,992 |
This page does not form part of the statutory financial statements
Page 11
LAKES CHRISTIAN CENTRE
Detailed Statement of Financial Activities for the Year Ended 28 February 2025
| Detailed Statement of Financial Activities for the Year Ended 28 February 2025 |
||
|---|---|---|
| 28.2.25 | 29.2.24 | |
| £ | £ | |
| Management | ||
| Brought forward | 97,972 | 89,992 |
| Telephone & internet | 981 | 892 |
| Accountancy Fees | 2,176 | 615 |
| Software and website | 330 | 308 |
| Waste & cleaning | 1,704 | 1,231 |
| Building work | - | 314 |
| Subscriptions | 434 | 109 |
| Bookkeeper | - | 1,089 |
| Xmas decorations | - | 179 |
| iknow church | 300 | 300 |
| 103,897 | 95,029 | |
| Finance | ||
| Insurance | 2,394 | 1,953 |
| Depreciation of tangible fixed assets | 269 | - |
| 2,663 | 1,953 | |
| Governance costs | ||
| Accountancy and legal fees | 787 | 1,457 |
| Total resources expended | 123,722 | 120,854 |
| Net income | 1,480 | 37,759 |
This page does not form part of the statutory financial statements
Page 12