2023-03-31-accounts - Liverpool One Church

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Registered Charity no. 1137479

Liverpool One Church

Trustees Annual Report and Accounts Year Ended 31st March 2023

Liverpool One Church

Year Ended 31st March 2023

Contents Page

	Page
Legal and Administrative Information	1
Trustee's Annual Report	2
Independent Examiners Report	6
Statement of Financial Activities	7
Statement of Financial Position	8
Statement of Cash Flows	8
Notes to the Financial Statements	9

Liverpool One Church

Year Ended 31st March 2023

Legal and Administrative Information

Reference

The Charity is called “Liverpool One Church” and is registered with the Charity Commission for England and Wales.

Registered Charity Number 1137479 Registered Office Liverpool One Church 144 Richmond Row LIVERPOOL L3 3BL The Trustees Luke Bryant David Stitcher (Treasurer) Wayne Palmer Felice Illume Resigned 05/04/2023 Craig Graham (Chair) Primary Bankers NatWest Bank 6 Grange Road West Charing Cross Birkenhead CH41 4DF Independent Examiner Nigel Wyatt BSC FCA Wyatt & Co Chartered Accountants 125 Main Street Garforth Leeds LS25 1AF Solicitor Stephen Pearson Freeths Solicitors Cumberland Court 80 Mount Street Nottingham NG1 6HH

Liverpool One Church

Year Ended 31[st] March 2023

Trustee's Annual Report

Governance

Board of Trustees

The governance of the charitable and financial aspects of the church is undertaken by the Board of Trustees (listed above.)

2. Church Leadership Team

The functional leadership of the church’s responsibilities are undertaken by the senior pastoral leaders, supported by departmental heads (principally volunteers) and with a small number of employed staff in key functions.

The Board includes a member of the senior pastoral leadership to ensure alignment with the Church’s stated objectives.

Charity Objectives

Principal Objectives (as defined in the Charity’s Model Deed)

To advance the Christian faith with a focus on the City of Liverpool.
To relieve sickness and financial hardship and to promote and preserve good health with a focus on the City of Liverpool.
To advance education with a focus on the City of Liverpool.

Main Activities

Conducting church services for the advancement of the Christian Faith and encouraging the inclusion of “ Every One.”
Providing a relevant and welcoming 21[st] century church environment to encourage people to discover the Christian faith.
Small Group attendance to develop strong interpersonal relationships within the church.
Volunteer participation in one of the many teams which, support the advancement of the church.
Age specific activities to encourage growth in the young person’s aspects of the church.
Support the charitable work of organisations responding to societal needs.

Liverpool One Church

Year Ended 31[st] March 2023

Trustee's Annual Report

Achievements Financial Year 2022/23

Throughout 2022/23 LOC successfully transitioned back to a fully in-person service environment with the final remnants of the impact of the Covid pandemic dissipating. This recovery saw rising numbers of attendees and a growing congregation.
The investments previously made in technology and resources enabled dual provision of in person and online services and increased the number of people engaging with the church.
The church continued to support various charitable projects. In 2022/23 this included: Support for Mercy Ministries, a charity dedicated to Christian mental health
and wellbeing.
Support for victims of the Turkish earthquake, enabling relief work provided
through Convoy of Hope.
Supporting Zoe’s Place Baby Hospice, a charity which supports young
children with complex illnesses or disabilities, giving support and palliative care to children and their families.
 Throughout the year the Brave Heart Women’s movement expanded with further events and preparations undertaken to conduct the first national event at the Liverpool ACC arena in May 2023. This conference platform is envisaged to enable LOC’s mission to expand more broadly and support its purpose of advancing the Christian faith.

Financial Review

Financial Sourcing is principally provided by the generous giving of the church’s congregation for which the Board and the Leadership Team are thankful. This income is supplemented, where applicable by Gift Aid provisions under the HMRC scheme.
In 202/23 an additional “Legacy” offering was taken to enable LOC to expend its
efforts in supporting the work of local missions, global missions and the requirements of the home church environment.
The Board encourages an appropriate positive cash flow position and use of a reserves policy to enable future growth (most likely to be in expanded premises.) It is envisaged that with current growth and future projections, further facilities development will be required in the next 2-5 years.
Financial Governance is derived from periodic Board of Trustees review. These reviews incorporate the following standing activities:
Financial income, expenditure
Current debt and reserves
Cash Balance and cash flow projections
Departmental budgetary reviews
Future planned activities and financial impact

Liverpool One Church

Year Ended 31[st] March 2023

Trustee's Annual Report

Review of FY2022/23
Income for the financial year increased in real terms to £528,776 when compared to
£375,632 in the previous financial year. The like for like comparison of regular giving continues to show consistent growth, which, is our principal source of operating revenues.

 Expenditure of £532,885 created an in-year deficit of £4,109, compared to a deficit of £43,333 in the prior year. The in-year deficit was split between an unrestricted fund deficit of £32,921 and a restricted fund surplus of £28,812. The total fund balance carried forward was £717,859 of which £690,220 was held in unrestricted funds. Of this unrestricted fund a total of £71,193 was held in free reserves which are not tied up in the value of the organisations fixed assets.

Key areas of expenditure are in balance against income and in line with the charity’s
stated objectives.
The charity has sufficient short and mid-term reserves and income projections to fund its key activities, in the current environment. Further developments are anticipated to be funded by growth and increased giving.

Accounting and Financial Controls

 LOC adopts a SORP based accounting model through a commercial software provider, Expense Plus (a specific Charity Based software developer.) This is administered by a dedicated staff member. Our Independent Examiners, Wyatt & Co, are again appointed in 2022/23 to review these accounts.

Reserves Policy

 The Board anticipates maintaining a net cashflow position equal to not less than three months of average monthly expenditure and ideally at a level of six months. Where the needs of running the church cause this to fall below the desired level, the Board carefully reviews spending timing on discretionary items to balance this risk.
 Where restricted funds are identified, use of these are monitored to minimise the holding of funds and ensure their appropriate and timely use for the intended purpose.

Plans for the future

 LOC will continue to expand its presence and impact in Liverpool and online to a broader population and to grow the church both numerically and qualitatively.
 LOC will continue to seek to support the work of partner charities which are consistent with the LOC charitable objectives outlined in this report.
 2023/24 will see the launch of the Brave Heart Movement’s first national conference in the Liverpool ACC Arena.

Liverpool One Church

Year Ended 31[st] March 2023

Trustee's Annual Report

Statutory Provisions

Given the nature of the church’s activities with children and young adults, ongoing annual Safeguarding training is provided to all key personal and volunteers and also use of DBS checks is mandated for people involved for key people serving in these areas.
In 2022/23 LOC commissioned the services of Citation, a specialised services provider of Health and Safety to SMEs. This service was integrated into the management team of LOC, a comprehensive review of policies and procedures was undertaken and the recommendations implemented
With the introduction of the GDPR, regulations in May 2018 the church took proactive steps to ensure compliance with these data protections measures.

Statutory Declarations

It is confirmed that by the Trustees that there have been no serious incidents during the financial year. Therefore, there are no incidents that should have been reported to the Commission but were not.

Thanks

The church leadership and trustees would like to extend their gratitude to the many volunteers who give of their time, talents and finances to make possible the continued growth of the church and its increasing impact on the community.

Declaration

The trustees declare that they have approved the trustees’ report above Signed on behalf of the charity’s trustees

Signed:

Craig Graham (Chair of Trustees)

Date: 29/01/2024

Liverpool One Church

Year Ended 31st March 2023

Independent Examiners Report

I report to the trustees on my examination of the financial statements of Liverpool One Church ('the charity') for the year ended 31 March 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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 material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Nigel Wyatt BSC FCA Date: 30/01/2024 Independent Examiner 125 Main Street Garforth Leeds LS25 1AF

Liverpool One Church

Year Ended 31st March 2023

Statement of Financial Activities

Statement of Financial Activities
			2023		2022
		Unrestricted	Restricted	Total	Total
		Funds	Funds	Funds	Funds
	Note	£	£	£	£
Income
Donations and legacies		422,843	72,643	495,486	360,780
Charitable activities		27,245	-	27,245	7,239
Activities for generating income		2,726	-	2,726	2,600
Other income		3,319	-	3,319	5,013
		`──────────`	`──────────`	`──────────`	`──────────`
Total income	2	456,133	72,643	528,776	375,632
		`──────────`	`──────────`	`──────────`	`──────────`
Expenditure
Expenditure on charitable activities	3	489,054	43,831	532,885	418,965
		`──────────`	`──────────`	`──────────`	`──────────`
Total expenditure		489,054	43,831	532,885	418,965
		`──────────`	`──────────`	`──────────`	`──────────`
		`──────────`	`──────────`	`──────────`	`──────────`
Net income and net movement in funds before gains / losses		(32,921)	28,812	(4,109)	(43,333)
		`──────────`	`──────────`	`──────────`	`──────────`
Gain on revaluation of fixed asset	8	160,120	-	160,120	-
		`──────────`	`──────────`	`──────────`	`──────────`
Net income and net movement in funds		127,199	28,812	156,011	(43,333)
		`──────────`	`──────────`	`──────────`	`──────────`
Net income and net movement in funds
Total funds brought forward	13	561,848	-	561,848	605,181
Transfers	13	1,173	(1,173)	-	-
		`──────────`	`──────────`	`──────────`	`──────────`
Total funds carried forward	13	690,220	27,639	717,859	561,848
		`──────────`	`──────────`	`──────────`	`──────────`

All income and expenditure derive from continuing activities.

Liverpool One Church

Year Ended 31st March 2023

Statement of Financial Position

Statement of Financial Position
		2023	2022
	Note	£	£
Fixed assets
Tangible fixed assets	8	975,700	841,031
		`──────────`	`──────────`
		975,700	841,031
Current assets
Debtors	9	43,704	72,876
Cash at bank and in hand		108,945	43,252
		`──────────`	`──────────`
		152,649	116,128
Creditors: amounts falling due within one year	10	87,310	53,488
		`──────────`	`──────────`
Net current assets		65,339	62,640
		`──────────`	`──────────`
Total assets less current liabilities		1,041,039	903,671
		`──────────`	`──────────`
Creditors: amounts falling due after one year	12	323,180	341,823
		`──────────`	`──────────`
Net assets	14	717,859	561,848
		`──────────`	`──────────`
Funds of the charity
Restricted funds		28,812	-
Unrestricted funds
General fund		71,193	104,114
Revaluation reserve		160,120	-
Designated funds		457,734	457,734
		`──────────`	`──────────`
Total charity funds	13	717,859	561,848
		`──────────`	`──────────`
Name of Trustee:	Craig Graham
───────────────────────────────────────────────────
Signed on behalf of the Trustees:
───────────────────────────────────────────────────
Date of approval:	29/01/2024
───────────────────────────────────────────────────

Liverpool One Church

Year Ended 31st March 2023

Statement of Cash Flows

	2023	2022
	£	£
Cash Flows From Operating Activities:
Net cash provided by (used in) operating activities	50,646	17,826
	`──────────`	`──────────`
	50,646	17,826
	`──────────`	`──────────`
Cash Flows From Investing Activities:
Purchase of tangible fixed assets	(8,472)	-
	`──────────`	`──────────`
Net cash provided by (used in) investing activities	(8,472)	-
	`──────────`	`──────────`
Cash flows from financing activities:
Repayments on borrowing	(18,643)	-
Cash inflows from new borrowing	42,162	-
	`──────────`	`──────────`
Net cash provided by (used in) financing activities	23,519	-
	`──────────`	`──────────`
Change in cash and cash equivalents in the reporting period	65,693	17,826
Cash and cash equivalents at the beginning of the reporting period	43,252	585,609
	`──────────`	`──────────`
Cash and Cash Equivalents At The End of The Reporting Period	108,945	603,435
	`──────────`	`──────────`
Reconciliation of Net Movement in Funds to Net Cash Flow From Operating Activities
	2023	2022
	£	£
Net movement in funds for the reporting period (as per the statement of financial activities)	156,011	113,734
Adjustments for:
Depreciation charges	33,923	-
Gain on revaluation of fixed asset	(160,120)
(Increase) / decrease in debtors	29,172	-
Increase / (decrease) in creditors	(8,340)	(95,908)
	`──────────`	`──────────`
Net cash provided by (used in) operating activities	50,646	17,826
	`──────────`	`──────────`
Analysis of Cash and Cash Equivalents
	2023	2022
	£	£
Cash at bank	108,945	43,252
	`──────────`	`──────────`
Total cash and cash equivalents	108,945	43,252
	`──────────`	`──────────`

Liverpool One Church

Year Ended 31st March 2023

Notes to the Financial Statements

1 Accounting Policies

Basis of Preparation

The finical statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities Financial Reporting Standards applicable in the UK and Republic of Ireland (Charities SORP 2019 FRS 102) and the Charities Act 2011.

Assessment of Going Concern

Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

Fund Accounting

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have set aside resources for a specific purpose.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or the term of specific appeal, often know as a ‘special offering’ in the church.

Further explanation of the nature and purpose of each fund is included in the notes to the accounts.

Incoming Resources

All incoming resources are recognised once the charity has entitlement to the resources. It is probable that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability.

• All voluntary income from members of the church are recognised as donations and are included in full, with associated Gift Aid receivable in the Statement of Financial Activities.

• Grants where entitlement is not conditional on the delivery of specific performance by the charity are recognised when the charity becomes unconditionally entitled to the grant.

• Income resources from charitable trading activities such as the letting are accounted for when invoices are drawn up (as the point of entitlement).

• Donated services and facilities are included at the value to the charity where this can be quantified.

• Gifts in Kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.

• Volunteer time, the value of voluntary support for the work of the church is not included in the accounts but is described in the Trustees annual report.

Investment Income is included in the accounts when receivable.

Liverpool One Church

Year Ended 31st March 2023

Notes to the Financial Statements

Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.

Governance Costs

Include costs of the preparation and examination of statutory accounts, the costs of the trustees' meetings and cost of any legal advice to trustees on governance or constitutional matters.

Liability Recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Tangible fixed assets

Tangible fixed 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 the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other recognised gains and losses.

Tangible fixed assets costing more than £750 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows:

Freehold Land and Buildings are not depreciated on the basis that each one has been subject to significant improvement arising from change of use and planned maintenance. The relevant property markets are kept under review to ensure continuing validity of this policy.

Equipment: Between 5 and 7 years

Liverpool One Church

Year Ended 31st March 2023

Notes to the Financial Statements

Pensions

The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.

Operating Leases

Rental charges payable under operating leases are charged on a straight line basis over the terms of the lease.

Taxation

The charity is exempt from tax on its charitable activities.

Legal Status of the Charity

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

Liverpool One Church

Year Ended 31st March 2023

Notes to the Financial Statements

Analysis of Income
	Unrestricted Funds	Restricted Funds	Total Funds 2023
	£	£	£
Donations and legacies
Donations	340,170	61,729	401,899
Gift Aid	82,673	10,914	93,587
	`──────────`	`──────────`	`──────────`
	422,843	72,643	495,486
Charitable activities
Ministry activities	5,854	-	5,854
Braveheart Conference	21,391	-	21,391
	`──────────`	`──────────`	`──────────`
	27,245	-	27,245
Activities for generating income
Room Hire	500	-	500
Merchandise	2,226	-	2,226
	`──────────`	`──────────`	`──────────`
	2,726	-	2,726
Other income
Other income	3,319	-	3,319
	`──────────`	`──────────`	`──────────`
	3,319	-	3,319
	`──────────`	`──────────`	`──────────`
Total Income	456,133	72,643	528,776
	`──────────`	`──────────`	`──────────`

Liverpool One Church

Year Ended 31st March 2023

Notes to the Financial Statements

2 Analysis of Income (Continued)

*Analysis of Income(Continued)***
	Unrestricted Funds	Restricted Funds	Total Funds 2022
	£	£	£
Donations and legacies
Donations	306,982	2,654	309,636
Gift Aid	51,144	-	51,144
	`──────────`	`──────────`	`──────────`
	358,126	2,654	360,780
Charitable activities
Ministry activities	7,239	-	7,239
Braveheart Conference	-	-	-
	`──────────`	`──────────`	`──────────`
	7,239	-	7,239
Activities for generating income
Room Hire	2,600	-	2,600
Merchandise	-	-	-
	`──────────`	`──────────`	`──────────`
	2,600	-	2,600
Other income
Other income	5,013	-	5,013
	`──────────`	`──────────`	`──────────`
	5,013	-	5,013
	`──────────`	`──────────`	`──────────`
Total Income	372,978	2,654	375,632
	`──────────`	`──────────`	`──────────`

Liverpool One Church

Year Ended 31st March 2023

Notes to the Financial Statements

3 Expenditure on charitable activities by fund type

	Unrestricted	Restricted	Total
	Funds	Funds	Funds 2023
	£	£	£
Administration	30,383	-	30,383
Braveheart Conference	36,334	-	36,334
Building and Premises	86,970	-	86,970
Communication	7,664	-	7,664
Finance	33,099	-	33,099
Ministry	98,688	43,831	142,519
Missions	8,755	-	8,755
Staffing	187,161	-	187,161
	`──────────`	`──────────`	`──────────`
	489,054	43,831	532,885
	`──────────`	`──────────`	`──────────`

Building and Premises costs includes a £33,923 (2022: £29,214) depreciation charge.

	Unrestricted	Restricted	Total
	Funds	Funds	Funds 2022
	£	£	£
Administration	22,192	-	22,192
Braveheart Conference	-	-	-
Building and Premises	97,347	-	97,347
Communication	836	-	836
Finance	12,261	-	12,261
Ministry	120,848	4,883	125,731
Missions	9,115	-	9,115
Staffing	151,483	-	151,483
	`──────────`	`──────────`	`──────────`
	414,082	4,883	418,965
	`──────────`	`──────────`	`──────────`

Building and Premises costs includes a £29,214 depreciation charge.

4 Volunteers

The church benefits greatly from the voluntary contributions of time and money by its formal members and regular attendees. Please refer to the trustee's report for further details about volunteer contributions in the organisation.

Liverpool One Church

Year Ended 31st March 2023

Notes to the Financial Statements

5 Independent examination fees

Fees payable to the independent examiner for:

2023 2022 £ £ Independent examination and preparation of the financial 1,656 1,560 statements

6 Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2023	2022
	£	£
Wages and salaries	151,323	135,277
Social security costs	14,288	11,211
Employer contributions to pension plans	3,880	2,522
	`──────────`	`──────────`
	169,490	149,010
	`──────────`	`──────────`

The average headcount of employees during the year was as follows:

	2023	2022
Average headcount	7	7

The number of employees who received employee benefits of more than £60,000 during the year was as follows:

More than £60,000

2023	2022
-	-

The Charity also utilised the services of some self employed contractors during the year.

Key Management Personnel

The charity considers its key management personnel to be the Trustees and the Senior Leader. The total employee benefits received by key management including employers national insurance and employers' pension contributions were as follows:

	2023	2022
	£	£
Key management personnel employee benefit	49,843	46,944

Liverpool One Church

Year Ended 31st March 2023

Notes to the Financial Statements

7 Trustee remuneration and expenses

During the year one trustee received remuneration as an employee of the charity. Luke Bryant was employed by the Church as lead pastor and was not remunerated for the role as trustee. The total remuneration received during the year including employers national insurance and employers pension contribution was £49,843 (2022: £46,944).

During the year three trustee incurred out of pocket expenses for the day to day running of the Charity. The total expenses claimed during the year was £2,313 (2022: £1,504). The type of expenses incurred related to ministry and pastoral costs.

During the year the total aggregated donations made to the charity by the trustee's during the year was £50,637 (2022: £45,076).

8 Tangible fixed assets

Tangible fixed assets
	Land and
	buildings	Equipment	Total
	£	£	£
Cost
At 1 April 2022	806,000	207,399	1,013,399
Additions	-	8,472	8,472
Revaluation	144,000	-	144,000
	`──────────`	`──────────`	`──────────`
	950,000	215,871	1,165,871
	`──────────`	`──────────`	`──────────`
Depreciation
At 1 April 2022	16,120	156,248	172,368
Charge for this year	-	33,923	33,923
Revaluation	(16,120)	-	(16,120)
	`──────────`	`──────────`	`──────────`
	-	190,171	190,171
	`──────────`	`──────────`	`──────────`
Carrying amount
At 31 March 2023	950,000	25,700	975,700
	`──────────`	`──────────`	`──────────`
At 31 March 2022	789,880	51,151	841,031
	`──────────`	`──────────`	`──────────`

In November 2022 the building held by the Charity on 144 Richmond Row, Liverpool, L3 3Bl was revalued by Onyx Real Estate a firm of specialists in commercial property. The valuation undertaken was based at the market value at the time of the valuation which was deemed to be £950,000. The trustees have opted not to depreciate the building at the point of valuation, but will continue to hold the building on a valuation basis with a update valuation taking place every few years.

Liverpool One Church

Year Ended 31st March 2023

Notes to the Financial Statements

9 Debtors

		2023	2022
		£	£
	Accrued Income	6,064	32,236
	Other debtors	37,640	40,640
		`──────────`	`──────────`
		43,704	72,876
		`──────────`	`──────────`
10	Creditors: amounts falling due within one year
		2023	2022
		£	£
	Accruals	1,880	6,894
	Other tax and social security	-	3,326
	Loans and borrowing	85,430	43,268
		`──────────`	`──────────`
		87,310	53,488
		`──────────`	`──────────`
11	Creditors: amounts falling due after one year
		2023	2022
		£	£
	Loans and borrowing	323,180	341,823
		`──────────`	`──────────`
		323,180	341,823
		`──────────`	`──────────`
12	Creditors: amounts falling due after one year
		2023	2022
		£	£
	Payable within one year	85,429	35,248
	Payable after one year and before five	123,366	132,677
	Payable after five years	199,815	209,146
		`──────────`	`──────────`
		408,610	377,071
		`──────────`	`──────────`

The outstanding mortgage held is secured against the organisation's building.

Liverpool One Church

Year Ended 31st March 2023

Notes to the Financial Statements

13 Analysis of Charitable Funds

	1 Apr 2022	Income	Expenditure	Gains / loss	Transfers 31 Mar 2023	Transfers 31 Mar 2023
	£	£	£	£	£	£
Unrestricted Funds
General funds	104,114	456,133	(489,054)	-	(2,393)	71,193
Revaluation reserve	-	-	-	160,120	-	160,120
	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`
	104,114	456,133	(489,054)	160,120	(2,393)	231,313
Designated
Building fund	457,734	-	-	-	3,566	457,734
	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`
Total	561,848	456,133	(489,054)	160,120	1,173	689,047
	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`
Restricted Funds
Afghan Appeal	-	-	-	-	-	-
Ukraine Appeal	-	375	-	-	-	375
Legacy	-	58,909	(34,472)	-	(1,250)	24,437
Turkey Appeal	-	1,859	(1,936)	-	77	(77)
Mercy Ministry Investment Returns	-	11,500	(7,423)	-	-	4,077
	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`
	-	72,643	(43,831)	-	(1,173)	28,812
	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`
	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`
Total Funds	561,848	528,776	(532,885)	160,120	-	717,859
	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`

Fund transfers

Transfers from the General fund to both the Afghan and Ukraine Appeal took place during the year to ensure the restricted fund balance were not overdrawn at the year end.

Liverpool One Church

Year Ended 31st March 2023

Notes to the Financial Statements

	1 Apr 2021	Income	Expenditure	Gains / loss	Transfers 31 Mar 2022	Transfers 31 Mar 2022
	£	£	£	£	£	£
Unrestricted Funds
General funds	605,181	372,978	(414,082)	-	(459,963)	104,114
	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`
	605,181	372,978	(414,082)	-	(459,963)	104,114
Designated
Building	-	-	-	-	457,734	457,734
	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`
Total	605,181	372,978	(414,082)	-	(2,229)	561,848
	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`
Restricted Funds
Afghan Appeal	-	1,324	(1,423)	-	99	-
Ukraine Appeal	-	1,330	(3,460)	-	2,130	-
	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`
	-	2,654	(4,883)	-	2,229	-
	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`
	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`
Total Funds	605,181	375,632	(418,965)	-	-	561,848
	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`	`──────────`

Fund Descriptions

Building fund

The designated building fund is to set aside the netbook value of the building less the outstanding mortgage value.

Afghan Appeal

To help and support Afghan refugees fleeing their homes and relocating in the UK, particularly in the city of Liverpool.

Ukraine Appeal

To raise money to help and support the citizens of Ukraine with food, shelter and vital goods in light of the breakout of war with Russia.

Compassion Kenya

To raise funds to help and support some of the world's poorest children by partnering with Compassion UK, to take care of children's health, education and spiritual needs.

Revaluation reserve

Reserve to hold the revaluation of the organisation's building per the Charities SORP FRS 102.

Liverpool One Church

Year Ended 31st March 2023

Notes to the Financial Statements

Legacy

The Legacy fund is a yearly offering taken in by the church that is above normal tithes and offerings for the purpose of furthering the work of the church in the below listed three lanes. 1) GLOBAL MISSIONS - Working with partner charitable organisations around the world to relieve poverty and help the plight of the poor, and to help further advance the Christian faith around the world. 2) LOCAL MISSIONS - Working with partner charitable organisations to help relieve poverty, help the plight of the poor, and to help further advance the Christian faith in the United Kingdom. 3) HOME - To advance the work of Liverpool One Church and enhance the end users experience of church

Turkey Appeal

The Turkey Appeal fund was created to aid and assist disaster relief in the aftermath of the devastating Turkish earthquakes, partnering with Convoy of Hope.

Mercy Ministry Investment Returns

Mercy Ministries Appeal was created to enable members to directly help LOC support Mercy Ministries in their charitable objective to promote Christian mental health and wellbeing.

14 Analysis of net assets between funds

	Unrestricted	Restricted	Total
	Funds	Funds	Funds 2023
	£	£	£
Tangible Fixed Assets	975,700	-	975,700
Current Assets	123,837	28,812	152,649
Creditors less than 1 year	(87,310)	-	(87,310)
Creditors greater than 1 year	(323,180)	-	(323,180)
	`──────────`	`──────────`	`──────────`
	689,047	28,812	717,859
	`──────────`	`──────────`	`──────────`
	Unrestricted	Restricted	Total
	Funds	Funds	Funds 2022
	£	£	£
Tangible Fixed Assets	841,031	-	841,031
Current Assets	116,128	-	116,128
Creditors less than 1 year	(53,488)	-	(53,488)
Creditors greater than 1 year	(341,823)	-	(341,823)
	`──────────`	`──────────`	`──────────`
	561,848	-	561,848
	`──────────`	`──────────`	`──────────`

Liverpool One Church

Year Ended 31st March 2023

Notes to the Financial Statements

15 Related party transactions

During the year a number of related party transactions took place.

Emma Bryant is a related party due to being an employee of the charity and a close family member to chair of trustees Luke Bryant. The total remuneration received during the year including employers national insurance contribution and employers pension contribution was £49,897 (2022: £46,937).

Oliver Graham is a related party due to being an employee of the charity and a close family member to the trustee Craig Graham. The total remuneration received during the year including employer national insurance contribution and employer pension contribution was £26,901(2022 £22,544). Oliver was employed in June 2021 with appropriate consideration for related parties factored in and as such, the hiring decision for employment by the church was made by the Board, in absentia of Craig Graham

Sarah Palmer is a related party due to being an employee of the charity and a close family member to the trustee Wayne Palmer. The total remuneration received during the year including employer national insurance contribution and employer pension contribution was £6,843 (2022: £5,940).

During the year the Church spent £7,482 on electrical services from Bryant Electrics which is owned and run by a close family relative of Luke Bryant. The services were procured following procurement procedures ensuring the best value for money was obtained for the work required.

The church has an outstanding debtor of £37,640 (2022: £40,640) with a related party called Red Creative Solutions Ltd. Luke Bryant is the director of Red Creative Solutions Ltd and also a trustee of Liverpool One Church.

During the year the Church incurred expenditure with LIFE Church Bradford for the purchase event tickets which took place during the year. The total expenditure incurred during the year was £2,678. LIFE Church Bradford is a related party due to Luke Bryant serving as a trustee for LIFE Church Bradford.