**REGISTERED COMPANY NUMBER: 07463785 (England and Wales) REGISTERED CHARITY NUMBER: 1140688** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 31 March 2022** ## **for** ## **Life Central Ltd** Cooper Associates Accountants Ltd 40 St James Buildings St James Street Taunton Somerset TA1 1JR **Life Central Ltd** **Contents of the Financial Statements for the Year Ended 31 March 2022** ||**Page**| |---|---| |**Report of the Trustees**|1 to 4| |**Independent Examiner's Report**|5| |**Statement of Financial Activities**|6| |**Balance Sheet**|7 to 8| |**Notes to the Financial Statements**|9 to 15| |**Detailed Statement of Financial Activities**|16 to 17| **Life Central Ltd** **Report of the Trustees for the Year Ended 31 March 2022** 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 31 March 2022. 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). ## **OBJECTIVES AND ACTIVITIES** ## **Purposes and aims** The charity’s purposes and aims as set out in the Memorandum of Association are: 1. To advance the education of the public of all ages in the subject of Christian Education, increasing individuals’ capabilities, competencies, skills and understanding, based on Christian principles for living. 2. To advance the Christian Faith for the benefit of the public by whatever means, including worship, prayer and teaching of Christian doctrine and principles to equip and enlighten others. 3. To train and develop the capacity and skills of the disadvantaged and people generally within the communities in which we work in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society. 4. To relievesickness, poor health and old age amongst people suffering from mental or physical illness of any descriptionor in need of rehabilitationas a result of such illness, by provision of education, training, practical support and advice, facilities and services not normally provided by the statutory authorities. 5. The preventionor relief of poverty or financial hardship anywhere in the world by providing or assisting in the provision of education, training, healthcare and practical projects and necessary support designedto enable individuals to generate a sustainable income and be self-sufficient. The charity aims to follow its objectivesamong the young, the elderly, the poor and needy, the vulnerable and disadvantaged, those seeking asylum, and refugees. These objectives are pursued without discrimination on grounds of race, gender, disability, sexual orientation, age or religion. ## **Achieving our objectives** We review our aims and objectives each year. The review looks at what we achieved and the outcome of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they brought to those groups of people we aim to serve. Page 1 **Life Central Ltd** **Report of the Trustees for the Year Ended 31 March 2022** ## **OBJECTIVES AND ACTIVITIES** ## **Review of activities** While the Covid pandemic had begun to release its hold by the end of this financial year, the problems surrounding the communities we serve remain. In this report we will summarise our continuing journey of serving and supporting people in Wellington and beyond during this difficult season. ## Staff Steve Jenkins continued as Pastor / senior leader and non-voting member of the board. Larisa Jenkins has been working alongside for at least 16 hours per week. A lot of the work has continued to be based from homes and in the first half of the year, a significant amount of the ministry was undertaken via online tools. There was a need to continue our initiatives in the community e.g. Deliveries to isolated people in need of meals / medicines etc. Sarah Parsons established her role as bookkeeper although it was initially difficult to meet up, so again online tools were used to communicate and the benefits of cloud based accounting (Xero & Hubdoc) that were very helpful. Steve Jenkins has remained the primary point of contact for safeguarding and health & safety during this this year with input from the Trustees. ## Location and property The UK governments ‘Work from Home’ policy meant the Life Central Rooms were not used much in the first half of the year. We continue to rent the rooms as per our contract and began to utilise them again towards the end of the year. The three residential properties that Life Central owns continue to provide low priced accommodation for people in the community who need good rented accommodation at an affordable rate. We support two refugee families that are housed in partnership with local action group ‘Taunton Refugee Support Group’ and Sussex County Council. We also house another local family with financial issues that would otherwise find rental very difficult. Our rental income remains low from these, compared to market values, but we know that this has been an important part of our ministry to keep supporting these families. Clem Woodward (estate agents) remains our management company for all three houses and ensures that all legal requirements are met for the benefit of the tenants and has played an important role in advising us during the changes to landlord laws through the Covid crisis. ## Wellington Community Our practical action in the Wellington district as remained constant though this year. Steve still holds the position of moderator (Chair) of Wellington Churches Together - meeting both through Zoom and laterly in person with these community meetings. With this group we had Wacky Wednesdays during all the school holidays and enjoyed getting back to the much loved Howard Road project. This year the Big Tent Holiday Club was again postponed, but Street Fairs managed to flourish and were a real benefit to the community. Our visits into the schools were still by video and zoom through most of this year, but have kept the contact alive. In Court Fields High School our Chaplin worker (Anthony Stevens) has proved a great asset, and we continued to fund hi for 16 hours a week to help children facing home difficulties and mental health issues. Other community projects that our staff and volunteers have been participating in include: Foodbank (Where Steve was also a Trustee), Besom, Street Pastors and the Wellington One Team (that includes emergency services, councils, social workers, housing associations, and the church in Wellington). Once again, a great deal of the communication had to be made through online video calls, but the vital work remains. The work with Sam Burton and the Awaken team in ministry to young adults has adapted throughout the pandemic and we will see how this develops in the future. Our decision to be generous last year with our support of the most needy and vulnerable in our community Page 2 **Life Central Ltd** **Report of the Trustees for the Year Ended 31 March 2022** ## **OBJECTIVES AND ACTIVITIES** has continued this year; giving support to local food supply initiatives, volunteer coordination, schools and people / families that were directed to us who where in need. The mental health issues have remained a high priority, so spending time with people, listening and supporting, over a coffee or a meal has continued to be a frequent area of care in the community. We radically adapted the working of our Sunday ‘Church’ gatherings to include frequent times in outdoor spaces and alternative places. And we tried to use LiveStreaming whenever possible to included those who could not be present. Our Messenger app as become a regular place for updates, prayer requests and connection across the Life Central community. While we had less live contacts on LiveStreams in this last year, the follow up with subsequent visits has remained surprisingly strong. ## National Connections Steve & Larisa have been very encouraged by their fortnightly Zoom meetings with the Life Streams senior leadership connection that includes other leaders from around the globe. This provided both spiritual accountability and mutual connection through the lockdown seasons and beyond. Larisa’s leadership to the Cherish Conference came to an end when the conference ceased to operate, but we are hoping to organise local events in the future when it is practical to do so. Steve & Larisa have maintained their support & mentoring of a number of other people in Church leadership around the UK. ## Overseas Projects In December, Steve & Larisa went to Belgium, in a lockdown gap, it encourage our connections there, but had to isolate on return as per the government regulations. Our financial support has been a vital part of our ministry to those we know across the world who continue to suffer from the Covid pandemic.There are still frequent visitors online from our international friends in our Streamed events. ## Vision for ongoing development By the end of the 2021-22 season we had the feeling that the lockdowns were easing and we would be able to engage more in person in the coming year. While there are many unknown factors ahead, we sincerely hope we will be able to adapt to the new culture in order to continue fulfil our objectives with optimism. . ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlledby its governingdocument,a deed of trust, and constitutesa limitedcompany, limited by guarantee, as defined by the Companies Act 2006. The charity is a company limited by guarantee and was incorporated on 8 December 2010. The objects and powers of the charity are set out in the amended Memorandum of Association of 15 October 2020 and it is governed in accordance with its Articles of Association of 15 October 2020. It commenced its charitable activities on 1 April 2011. The company is exempt from the use of "limited" in its name. The Directors of the company are its Trustees for the purposes of Charity Law and throughout this report are collectively referred to as Trustees. The Directors who served in the year are set out below (page 4). Page 3 **Life Central Ltd** **Report of the Trustees for the Year Ended 31 March 2022** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Recruitment and appointment of new trustees** New Trustees are appointed by the board of Trustees from suitable candidates who meet the criteria laid down in the Articles of Association. Trustees who have been invited to join the board attend an induction meeting where the duties and responsibilities of Trustees are explained. ## **Governance and management** The Trustees meet on an informal basis two or three times a month, with at least four formal Trustees’ meetings a year. Management accounts are produced at least monthly and are reviewed and discussed by the Trustees. Day to day management of the charity is delegated to the pastor. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Company number** 07463785 (England and Wales) ## **Registered Charity number** 1140688 ## **Registered office** Town Hall Buildings Fore Street Wellington Somerset TA21 8LS ## **Trustees** D T James A F Lane Ms C Silverlight ## **Independent Examiner** Cooper Associates Accountants Ltd 40 St James Buildings St James Street Taunton Somerset TA1 1JR Approved by order of the board of trustees on ............................................. and signed on its behalf by: .............................................................. A F Lane - Trustee Page 4 **Independent Examiner's Report to the Trustees of Life Central Ltd** ## **Independent examiner's report to the trustees of Life Central Ltd ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 eligiblefor independentexamination,I report in respect of my examination of your 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** I have completedmy examination. I confirm that no matters have come to my attention in connectionwith the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirementsof section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter consideredas part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of RecommendedPractice for accountingand 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)). 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. Kevin Parsons FCCA Cooper Associates Accountants Ltd 40 St James Buildings St James Street Taunton Somerset TA1 1JR Date: ............................................. Page 5 **Life Central Ltd** ## **Statement of Financial Activities for the Year Ended 31 March 2022** **----- Start of picture text -----**
2022 2021
Unrestricted Total
funds funds
Notes £ £
DONATIONS AND GIFTS RECEIVED
FROM
Donations and legacies 37,567 39,935
Investment income 2 22,930 22,292
Total 60,497 62,227
EXPENDITURE ON
Direct charitable expenditure
Direct charitable expenditure 5,470 1,534
Donations and gifts 11,376 13,030
Administration 53,134 50,436
Investment management 5,967 4,394
Maintenance and rates 10,780 9,123
Total 86,727 78,517
NET INCOME/(EXPENDITURE) (26,230) (16,290)
RECONCILIATION OF FUNDS
Total funds brought forward 601,304 617,594
TOTAL FUNDS CARRIED FORWARD 575,074 601,304
**----- End of picture text -----**
The notes form part of these financial statements Page 6 **Life Central Ltd** ## **Balance Sheet 31 March 2022** **----- Start of picture text -----**
2022 2021
Unrestricted Total
funds funds
Notes £ £
FIXED ASSETS
Tangible assets 7 5,199 6,368
Investment property 8 540,000 540,000
545,199 546,368
CURRENT ASSETS
Debtors 9 9,023 2,807
Cash at bank and in hand 28,454 53,916
37,477 56,723
CREDITORS
Amounts falling due within one year 10 (7,602) (1,787)
NET CURRENT ASSETS 29,875 54,936
TOTAL ASSETS LESS CURRENT
LIABILITIES 575,074 601,304
NET ASSETS 575,074 601,304
FUNDS 11
Unrestricted funds 575,074 601,304
TOTAL FUNDS 575,074 601,304
**----- End of picture text -----**
The charitable company is entitledto exemptionfrom audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 7 **Life Central Ltd** **Balance Sheet - continued 31 March 2022** 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: ............................................. A F Lane - Trustee The notes form part of these financial statements Page 8 **Life Central Ltd** **Notes to the Financial Statements for the Year Ended 31 March 2022** ## **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) (effective1 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, as modified by the revaluation of certain assets. ## **Income** All income is recognisedin the Statement of Financial Activities once the charity has entitlementto 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 accountedfor on an accruals basis and has been classifiedunder 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. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Tangible fixed assets** Depreciationis provided at the followingannual rates in order to write off each asset over its estimated useful life. Fixtures and fittings - 15% on reducing balance ## **Investment property** Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. ## **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. continued... Page 9 **Life Central Ltd** **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** ## **1. ACCOUNTING POLICIES - continued** ## **Fund accounting** 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. INVESTMENT INCOME** |Rents received
Bank interest received
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets|2022
£
22,926
4
22,930
2022
£
1,733|2021
£
22,260
32
22,292
2021
£
2,124| |---|---|---| ## **3. NET INCOME/(EXPENDITURE)** ## **4. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021. continued... Page 10 **Life Central Ltd** **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** ## **5. STAFF COSTS** The average monthly number of employees during the year was as follows: |2022
Pastor and assistant pastor
2|2021
2| |---|---| |No employees received emoluments in excess of £60,000.
**6.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**DONATIONS AND GIFTS**
**RECEIVED FROM**
Donations and legacies
Investment income|Unrestricted
funds
£
39,935
22,292| |**Total**|62,227| |**EXPENDITURE ON**
**Direct charitable expenditure**
Direct charitable expenditure
Donations and gifts
Administration
Investment management
Maintenance and rates|1,534
13,030
50,436
4,394
9,123| |**Total**|78,517| |**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**|(16,290)
617,594| |**TOTAL FUNDS CARRIED**
**FORWARD**|601,304| continued... Page 11 **Life Central Ltd** **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** ## **7. TANGIBLE FIXED ASSETS** |**COST**
At 1 April 2021
Additions
At 31 March 2022
**DEPRECIATION**
At 1 April 2021
Charge for year
At 31 March 2022
**NET BOOK VALUE**
At 31 March 2022
At 31 March 2021
**8.**
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 1 April 2021
and 31 March 2022
**NET BOOK VALUE**
At 31 March 2022
At 31 March 2021|Fixtures
and
fittings
£
27,062
564
27,626
20,694
1,733
22,427
5,199
6,368
£
540,000
540,000
540,000| |---|---| The investment properties were valued at open market value by Messrs Gibbins Richards, Estate agents, of 37 High Street, Wellington, Somerset as at 31 March 2018. The Trustees consider that the value of the properties was not significantly different at 31 March 2022. continued... Page 12 **Life Central Ltd** **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** ## **9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Other debtors
Prepayments and accrued income
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
**11.**
**MOVEMENT IN FUNDS**
At 1.4.21
£
**Unrestricted funds**
General fund
601,304
**TOTAL FUNDS**
601,304
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
60,497
**TOTAL FUNDS**
60,497|2022
2021
£
£
7,379
2,807
1,644
-
9,023
2,807
2022
2021
£
£
4,029
34
1,586
530
147
-
1,840
1,223
7,602
1,787
Net
movement
At
in funds
31.3.22
£
£
(26,230)
575,074
(26,230)
575,074
Resources
Movement
expended
in funds
£
£
(86,727)
(26,230)
(86,727)
(26,230)| |---|---| continued... Page 13 **Life Central Ltd** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** ## **11. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |At 1.4.20
£
**Unrestricted funds**
General fund
77,594
Buildings fund
540,000
617,594
**TOTAL FUNDS**
617,594
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
62,227
**TOTAL FUNDS**
62,227|Net
movement
At
in funds
31.3.21
£
£
(16,290)
61,304
-
540,000
(16,290)
601,304
(16,290)
601,304
Resources
Movement
expended
in funds
£
£
(78,517)
(16,290)
(78,517)
(16,290)| |---|---| ## **Purpose of Buildings Fund (designated fund)** The proceeds from the sale of the charity’s former premises were designated for the purchase of properties to provide an income for the charity and for the purchase of replacement premises in which to hold some of the charity’s activities. The fund has been used to purchase the investment properties but the Trustees decided not to purchase replacement premises and so the unused Buildings Fund was released to the General Fund in 2016. The Buildings Fund also includes the revaluation reserve of £51,525 (2021 - £51,525) which represents the amount by which investments exceed their historical cost. continued... Page 14 **Life Central Ltd** **Notes to the Financial Statements - continued for the Year Ended 31 March 2022** ## **12. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2022. Page 15 **Life Central Ltd** ## **Detailed Statement of Financial Activities for the Year Ended 31 March 2022** **----- Start of picture text -----**
2022 2021
£ £
DONATIONS AND GIFTS RECEIVED
Donations and legacies
Specific gifts 2 -
Tithes and Offerings 32,993 33,314
Tax refunds 4,572 6,621
37,567 39,935
Investment income
Rents received 22,926 22,260
Bank interest received 4 32
22,930 22,292
Total incoming resources 60,497 62,227
EXPENDITURE
Direct charitable expenditure
Travel, hotel & hospitality 4,445 638
Teaching resources 123 642
Sundries 902 254
Gifts - Donations and support 11,376 13,030
16,846 14,564
Maintenance and rates
Repairs and renewals 336 636
Rent and rates 9,036 7,141
Light and heat 1,408 1,346
10,780 9,123
Administration
Administration
Wages 40,307 40,307
Legal and professional fees 1,851 1,494
Insurance 1,937 1,774
Carried forward 44,095 43,575
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This page does not form part of the statutory financial statements Page 16 **Life Central Ltd** ## **Detailed Statement of Financial Activities for the Year Ended 31 March 2022** **----- Start of picture text -----**
2022 2021
£ £
Administration
Brought forward 44,095 43,575
Telephone 2,006 1,862
Printing, stationary, postage, IT, website
and advertising 4,609 2,182
Bank charges and interest 40 40
Subscriptions 651 653
Depreciation of tangible and heritage assets 1,733 2,124
53,134 50,436
Investment management
Maintenance of investment properties 2,840 1,522
Insurance 735 687
Agent fees 2,392 2,185
5,967 4,394
Total resources expended 86,727 78,517
Net expenditure (26,230) (16,290)
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This page does not form part of the statutory financial statements Page 17