REGISTERED COMPANY NUMBER: 07463785 (England #nd Wales) REGISTERED CHARITY NUMBER: 1140688 Report of the Trusttts and Unaudited FiTrgncial Statements lor the Year Ettded 31 Mreh 2024 for L4fe Central Ltd Cty)per Associates Accountants Ltd 40 Si Jame5 Buildings St James Street Taunton Somerset TAI IJR ADIXM14W* 28112r2w24 COMPANIES HOUSE A15
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Life C¢u¢rl iAd Cont¢Dts of tbe Financial S¢¥tem¢nt$ for the Year Ended 31 MaTch 2024 Page Report of tbe Trustees Independent Exminer'5 Report Statement of Finn¢il Attivities Balan¢¢ Sheet Notes to the Financial Statements 10 to 16 Detailed Statement of Fin*n¢ial Activities 167to 18
Life C¢lltr•l Ltd Report of the Trusttts for the Year Ended 31 Marcb 2024 The trleeS who are also directors of ihe charity for ihe purSe5 of the Companies Aci 2006, present their report wilh the financial statements of the ¢harity for the year ended 31 March 2024. The trustees have adopted the provisions of A¢¢ounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing iheir a¢counis in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effe¢tive l January 2019)- OWECTIVES AND AcrtVlTIES Purpos¢$ and aim5 The charity's purposes and aims as set out in the Memorandum of Association are: l. To advance the education of the public of all ages in the subject of Christian Edv¢*ion, increasing individuals, capabilities. competencies, skills and undersiandin& based on Christian principles for living. 2. To advance the Christian Faith for the berfit of ihe public by wharever mean& including worship, prdyer and teaching of Christian doctrine and principle5 to equip and enlighten others. 3. To train and develop the capacity and skills of the disadvantaged aThl people generally wiihin the Communities in which we work in surh a way ihat ihey are better able to identify, and help meet, theiT needs and ¢0 participate more fully in so¢iety. 4. To reliev¢ siGkn¢55. P(N)r health and old age amongsi people suffering from mentsl or physical illness of any description or in need of rehabilitation as a result of such illness, by provision of education, training, practical supwrt and advi¢e, f11111c5 and services not nomially provided by the statutory authorities. 5. The prevention or relief of poverty or financial hardship anywhere in the world by providing or a5SiSting in the provision of education. training. healihcare and practical projects and necessary support designed to enable iThlividuals io generate a sustainable income aThJ be self-suffjcient. Th¢ charity aims to follow its objectives among the youn& the elderly, prM)r and needy, the vulnernble and disadvantaged. those seeking asylum, and refugees. These objective5 are pursued without discrimination on grounds of ra¢¢, gender, disability. Sexu orientstion. age or religion. Achieving our objectives We review our aims and objectives each year. The review looks ai what we xhaeved and the out¢om¢ of our work in the previous 12 months. The Teview looks ai the S$5 of each key activity and the benefits they brought to those groups of people we airn to serve. Page I
Life Centrnl Ltd Report of the Trustee5 for the Year Emded 31 March 2024 owEcrivES AND ACTIVITIES Review of aetivilies This past year. wih posi pand¢mi¢ challenges remaining for many, has ¢ontinued to bring some not insignificant difficulties as we have soughE to coniinue to facilitsie gathered worship and prayer limes, ¢0MUnitY service and pastordl support. However, de5Plte the national challenges facing churches of all denominations and sizes. with fundraising pressures, dwindling leaders and volunteers, along with national economic challenges including the rising costs of living - here at Life Central we have had much Still to celebrate and be thankful for. This has been particularly true for us ihis year as we have soughi io re-envision and rebuild together through this period a5 a church community themes thai would carry even greater signifi¢an¢¢ later in th¢ year. with big changes in ihe leadeTship and vision for the church community. This rerN)rt then will ¢over and describe our Continuing efforts to best deliver our charitable aims in Wellington and beyond. Staff Steve Jenkins remained as Pasior / senior leader and non-voting metnber of the board for the firsi eight moTJth5 of this financial year up until the end of Novemkr 2023. Larisa Jenkins also continued with 16 hours per week in pastoral care in the community for this same peri. Having sensed during this period that their time together serving &$ leaders at Life Ceniral was coming to a natural conclusion, in August Steve and Larisa infornied the tTUStees and then the wider church family of theiT intention io step down from ih¢ir rnutu roles. Having given due notice. they concluded their employmenl and ministry at the end of November. Rev'd Tim Bu¢kley {a forni¢r Vicar within the church of England) who had recently stepped down from hts role as senior leader of two churches in ihe city of Bath, was approached by Ihe irusiees and asked to consider taking on the leadership of ihe church in a paid capacity, as senior leader and non-voting member of the board. He agreed to do so and w&s appoinied Eo the role from the Isi of December 2023. Throughout this period, Sarah Parsons has ¢ontinued as our iM)okkeeper both in person and using online tools. used by her and the wider team, including Xero & Hubdoq systems for ¢loud-b&sed accounting. Steve Jenkins continued during his time of employrnent &s the primary point of contact for safeguarding and health & saf¢ty. Upon Rev'd Tim Buckley's appoinrment, these roles and resw>nsibilitie5 transferred to him. After their departure, Life Centrai trustee5 on behalf of the church family gave a gift of £5000 to S*v¢ and Larisa in token of their love and eMe¢m for all that they have given in their service over many years as they looked to explore ar Work in new areas. Having Siepped down, Steve and Larisa have helpfully continued to worship as members of the church family in rhis phase of change uniil ihey rnove, allowing an effective perÈod of transition and handover. Location and For ihis year, including during a period of transifion when rim Bu¢kley took over ihe leadership of the church community. our formal address remained 63 Aspin Close, Wellington. TA219EG. While ernployed, Sieve & Larisa worked primarily from home. but a shared office space was also given to us at The Well Chrisiian Fellowship to make use of Tt as required. Since Tim's employment began, he h&$ enjoyed a similar patten of Working from home and also making us¢ of the shared "Well" space which has een incredibly helpful, especially for continued safe siorage of office equipment, items and files. Page 2
Life Central Ltd Report of the Trustees for the Yr Ended 31 March 2024 In ihis year we still held thre¢ residential properties ihat Life Central owns and continued to provide low priced accommodaiion in the community. These properties support two refugee familie5 that are housed in partnership with lo¢al 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 due to past CCJ'S. We had to increase our rent on these PrOrtieS but lried to keep them as reasonable a5 Possible compared to market rates. We believe this has continued to be an important part of our ministry io support these families. Clem Woodward (estate agents) was again our management company for all three houses and ertsured that all legal requirements and obligaiions were mei. In a season where the renial seclor has gone through a difficult time, Clem Woodward has played an irnFW)rtant role in guiding us during the many changes to landlord laws and responsibilities. It w&5 during this lime that we took the decision to sell one of the properties with a view to Consolidating our financial p)sition and making appropriate invesiments that would maintsin a level of income for the fLrture of ihe charity. However, on further itLV¢Siigation, the aggressive rental market would have not allowed our tenant to find another similar property for ihe same cosi. N¢iiher would an investment buyer normally be able to keep the tenant on at such a low rent. We did not want to have a situation where our tenant went io court to delay exit and end up with another CCJ againsi his name. He had been an ideal tenant for nearly 7 years, and we did not want io cause unnecessary problems. However. a moment of gra¢e happened when Steve Jenkins mei wilh ihe CEO of Falcon Housing Association at the end of Mar¢h 2023 and agreed in principle that they could purch the property and keep the tenant on a favourable rent going forward. With full trust¢e agreement, thi5 property, '3 Walker5 Gxte, was successfully sold at market value for £200.000 to Falcon Housing. compleiing in early July with proceeds minus fees r¢ceiv¢d th month. This sale, stabilising available finances. allowed Life Central Church io operate effectively going forward, better able io now more fully serve its charilable aims and objectiv¢s. Wellin on Communit We conlinue to pa55ionaiely SUPkX)rt Sla1 action needs ihroughout Wellington with evident and effective impact. Christine Disney, a member of our church community took on the posiiion of moderator (Chair) of Wellington Churches Together (WCT) and will do so until Jan 2025. With WCT we have ¢ontinu¢d to support 'Wacky Wednesdays, during school holidays and again had great impact with the Howard Road proje¢i. As always, Wellington Street Fairs were fully supported with chur¢h stalls and volunieers setving and in attendance to continue with others io bringgreai benefit io ihe wider community. During his time of employmerf Steve wa5 able to coniinue to connect well with St. John's Primary School furthering his connection with the RE lead as the school began to prepare for a fvre SIAMS inspection. A member of ihe church family also became a governor for the school, building church-school faith links and 5UPPOrting colleciive worship requirements. With ihe previous Court Fields High School Chaplin having de¢ided to move on, Life Cenlral and Wellingon based churches Living Light and The Well Christian Fellowship have joined with Taunton Youth for Christ io explore together funding and sourcing replacement for this valuable work with young people and those with menial health issues. Other eommunity projects thai our staff and volunteer5 have participating in include= Fdbank, Best Before Food Siort, Street Pastors and the Wellington One Team (that irKludes emergency servi¢¢s, councils. social workers. housing associations, and the church in Wellington). Page 3
Life Ctntral Ltd Report of the Trnstees for the Year Ended 31 M*r¢h 2024 With the growing economic and social crisis facinE so many in society, parti¢ulkrly with an increase for those Slruggling with mentsl health and ¢tT]Otional ¢halleng¢s, spend2ng lime with people, listening and supporting, often over a ¢offee or a m¢al ¢ontinues io be a central part of our work. This year has also seen the church commit 10 its regular rhythm of Sunday rnorning gatherings at St John's Primary School. Whilst live streaming was useful to many during the pandemic. Life Ceniral now makes use of re¢ordings which are weekly uploaded io YouTube for a wider audience and those un#bl¢ ¢0 physically attend. The Messenger app continued as a place for prayer, comTnunication and updates across ihe community wilh Tim also iniroducing a new more secure means of connection through WhaisApp community groups. Our Website and Faceb(N)k usage niinues to serve many and ha5 frquent visitors. Wider Connection Steve & Larisa while working as leaders continued to grow our relationship with Life Streams Senior leadership ¢onnections - leaders within the UK and across the globe. giving both spiritual accountability and mulual connection on a regular basis. Tim Bu¢kley, who was also connected io Ihe Life Streams minisiry. has iherefore ¢ontinued to fiirther and enhance this ¢onne¢tion since his arrival. Overseas Pro ects A5 a church we have continued io support missiona] initialives in Belgium. Burundi and Kenya with various proje¢is supporting some of the poorest people in the world.
Life CeDtral Ltd Report of tht Trusttts for the Year EDded 31 March 2024 srRUCTURE, GOVERNANCE AND MANAGEMENT Governing do¢ument The chariry is controlled by its governing dUment. a deed of trusi and constiiutes a limiied company, limited by guarantee, &s defined by th¢ CoTnpanies Act 2006. The charily is a company limited by guarantee and wa5 incorporated on 8 December 2010. The objects and powers of the charity are set out in ihe amended Memorandum of Association of 15 (ktober 2020 and it is governed in acrdanCe with its Articles of Association of 15 October 2020. li commenced ils charitable activities on l April 2011. The company is ¢x¢rnpt from the use of "limited" in its name. The Directors of the company are ils Trustees for the purpose5 of Charity Law and throughoul this report are collectively referred to as Trustees. The Directors who Served in the year are set out below (page 4). Recrnitment and ppointmeknt of tru5tee5 New Trustees are appointed by ihe board of Trustees from suitable candidates who meei the criieria laid down in the Articles of Associaiion. Trustees who have been invited to join the board attend an induction m¢eiing where the duties arbA responsibilities of Trustees ar¢ explained. GovernaDee and mangement The Trustees meei on an infomal ba%is two or three time5 a month. with at least four formal Trustees, m¢¢tings a year. Management accounts are produ¢ed ai least monthly and are reviewed and dis¢ussed by the Trustees. Day io day management of the charity is delegated io the pastor. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 07463785 (England and Wales) Registered Charity number 1140688 RegKstered office Perry House Blackmoor West Buckland TA219LH Trustees D T James- Resigned 15 August 2023 AFLane Ms C Silverlighi Independent Examiner Cooper Associates Accountants Lid 40 Si James Buildings St James Street Taunton Somerset TAI IJR Approved by order of the trf)ard of tnLStees on i!1 ILIW..... and signed on its behalf by: A F Lane- Trustee Page 5
lttdeptttdtDt KMiler'S Rew)rt to tht Trusttts of Life C¢rttr*l Ltd Independent examiner'5 report to the tru51ee5 of Life Celllral Ltd ('the Company,) I report to ihe charity trustees on my examination of the accounts of the Company for the year ended 31 Mar¢h 2024. Responsibilities and basis of trt As the charity's trusiees of ihe Company (Ar also its directors for the purpN)ses of ¢ompany law) you are responsible for the preparaiion of ihe ac¢ounis in a¢cordan¢e with ihe requirements of the Companies Act 2006 ('the 2006 Act.). Having salisfied myself that the accounts of the Company are not required to be audited undeT Part 16 of the 2006 A¢1 and are eligible for independent examination. I report in respect of my examinalion of your charity's accounts as carried oul under section 145 of ihe Charities Act 2011 ('the 2011 A¢i'). In carrying out my examination I have followed th¢ Dir¢¢tions giv¢n by the Charily CMimission und¢r section 145(5) (b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in Spect of the Company as required by se¢tion 386 of rhe 2006 the accounts do not accord wilh those records- or the accounts do not comply with the a¢¢ounting rwuirements of section 396 of the 2006 A¢1 other Ihan any requirement that the accounts give a tr and fair view which is not a matter considered as part of an independent exarninarion- or the a¢counts have noi been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charitie5 (applicable to Charities preparing their accounts in accordance with the Fanancial Reporting Stsndard applicable in the UK and Republic of Irelalld (FRS 102)). I have no concerns and have ¢ome across no oiher matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of ihe accounts to be reached. Kevin PaTSODS FCCA Cooper Associates Accountants Ltd 40 St James Buildings St James Street Taunton Som¢rset TAI IJR Date.. Page 6
Life Central Lid Statemen¢ of Financial Activities for the Ye*r Ended 31 March 2024 2024 Unrestricied Toial funds 2023 Tolal funds Note5 DONA TIONS AND GIFTS RECEIVED FROM Donations and legacies 27.439 29,708 Investsnent income 23.271 Totsl 50,710 EXPENDITURE ON Direct charitable expenditure Direct charitable expenditure Donations and gifts Administration Invesrment management 6,471 4,689 53,686 5.962 6.947 1.966 48.052 7.708 Maintenance and rates 3,765 8.661 Total 74,573 73.334 Profit on Disposal of property 40.0 NET INCOMEI(EXPENDITURE) 16,137 (18,904) RECONCILIATION OF FUNDS Total funds brought fornrd 556,170 575,074 TOTAL FUNDS CARRIED FORWARD 572,307 556,170 Th¢ notes forni part of these financial statements Page 7
Life Central Lid Balanee Sheet 31 Mareh 2024 2024 2023 Unrestricied Totsl funds Total funds Noies FIXED ASSETS Tangible asse15 Investment property 2,925 3,899 540 000 382,925 543.899 CURRENT ASSETS Debtors Cash & bank and in hand 12,432 179.397 13,093 4.030 191,829 17.123 CREDITORS Amounts falling due within one year 10 (2.447) (4,852) NET CURRENT ASSETS 189.382 TOTAL ASSETS LESS CURRENT LIABILITIES 572,307 556.170 NET ASSETS 572.307 556,170 FUNDS Unrestricted funds 572 307 556 170 TOTAL FUNDS 572 307 556 170 The charitable company is entitled to exemption fmm audit under Section 477 of ihe Companies Act 2006 for the year ended 31 March 2024. The mernbers have not required the company io obtain an audit of its financial statements for the year ended 31 Mar¢h 2024 in a¢cordance wilh Seciion 476 of the Compani¢s Act 2006. The trustees acknowledge their re5ponsibililies for (a) ensuring that the charitable ¢ompany keeps lunTIng records th* Comply with Sections 386 and 387 of the Companie5 Act 2006 and (b) preparing financial Slalements which give a tnK and fair view of the state of affairs of the chariiable ¢ompany as at the end of each financial year and of its surplus or deficit for each financial year in arxordance with the requirements of Sections 394 and 395 and which otherwise comply with th¢ requirements of the compani Act 2006 relating to financial statements, so far as applicable to the charitable Company. The notes forn) part of these financial statements Page continued...
Life Central Ltd Balance Sheet- continued 31 Marth 2024 These financial statements have been prepared in a¢¢ordance with ihe provisions applicable to charitable ¢ompanies subje¢l to lh¢ small ¢ompanie5 regime. The ftnan¢ial statements were approv¢d by the Board of Trustees and auihorised for issue on and were signed on its behalf by: A F Lane- Trustee rK>te5 form part of these finan¢iai statements Page 9
Life Central Ltd Notes ¢0 the Financial Statements for the Year Ended JI March 2024 ACCOUNTING POLICIES Basis of preparing the finantial sl¢emettts The financial statemenis of the charitable company. which is a publi¢ benefit entity under FRS 102, have been prepared in ac¢ordance with the Charilies SORP (FRS 102) 'Accounting and Reporting by Charities- Stat¢m¢nt of R¢¢omm¢nded Practice applicable to charities preparing their accounts in accordance wilh ihe Finan¢ial Reporting Sthndard appli¢able in UK and Republic of Ireland (FRS 102) (effective l January 2019).. Financial Reporting Siandard 102 'The Financial Rew)rting Standard applicable in the UK and Republic of Ireland. and ihe Companies Act 2006. The financial slatements have been prepared under the historic cost convention, as modified by the revaluation of certain assds. Income All income is recognised in ihe Ststement of Financial Activities once the charity has entiilement to Ihe funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditu as soon as there is a legal or constructive obligation committing the charity lo that expenditure. it is probable that a transfer of economic benefils will be required in settlement arKI the amount of the obligation can be mea5UTed reliably. EXpendilU is accounted for on an a¢cruals basis and ha5 been classified under headings thai aggregate all cost related io the category. WIre Costs ¢annoi b¢ direcily attributed to particular headings they have been allocated to activities on a b&sis 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 commiimeni but not accrued as expendilure. Tangible fixed assets Depre¢iation is provided at the following annual rates in order to write off each asset over its estimaled useful life. Fixtures and fittings 15Yo on reducing balance InvestmeTrt property Investment property is shown at mosi recent vuatIon. Any aggregate surplus or deficit arising from changes in fair valu¢ is rewgni5ed in the Statement of Finala] Activities. T#xtion Th¢ ¢harity 15 exempt from CorTatIon thx on its ¢haritsble activilies. Fund *eeountiDg Unrestricted funds ¢an be used in accordance with charithble objectives at the discretion of the trustees. Resiricted funds can only be used for particular resiri¢i¢d purposes within ihe object5 of the charily. Restri¢tions arise when specified by the donor or when funds are raised for particular restricted purposes. Page 10 continued...
L4fe Central Ltd Notes to the Financial St4tements- continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES- continued Fund aecountiDg Further explanation of the nature and purrM)se of each fund is included in the notes to the financial ststements. Pension eo$t$ and other p)st-r¢¢irement benefits The charitable company operates a defined ¢onlribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Ststement of Financial Activities in the peri] to which tw relate. INVESTMENT INCOME 2024 2023 Rents received Bank interest received 21,191 24,701 21 23,271 24,722 NET INCOMFJ(EXPENDITURE) in¢omel(expendiiure) is stated after charginyl(crediting)- 2024 2023 Depreciation- owned assets 975 1.300 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees. remun¢raiion or other benefits for the year ended 31 March 2024 nor for th¢ year ended 31 March 2023. Tru$te¢s' ¢xpeAses There were no trus*es' expense5 paid for year ended 31 March 2024 nor for the year ended 31 March 2023. Page 11 continued...
Life Central Ltd Notes to the Financial Statements- continued lor the Year Ellded JI March 2024 STAFF COSTS The average monthly number of employees during the year was &s follows: 2024 2023 Pasior and assistant paswr No employees received emoluments in excess of £60.IXJO. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds DONATIONS AND GIFrs RECEIVED FROM Donaiions and le7eS 29,708 Investment income 24,722 Total EXPENDITURE ON Direct ch4ritable expenditure Direct charitable expenditure Donations and gifts Adminisirdiion Investment management 6.947 ,966 48,052 7,708 Mainienance and rates Total NET INCOMFJ(EXPENDITURE) (18,904) RECONCILIATION OF FUIYDS Totgl funds brought fornrd 575.074 TOTAL FUNDS CARRIED FORWARD 556,170 Page 12 continued...
Life Central Ltd Notes lo the Financial Statements- continued for the Year Ended 31 March 2024 TANCIBLE FIXED ASSETS Fixture5 and fittings COST At l April 2023 Additions 27,626 At 31 March 2024 DEPRECIATION At l April 2023 Charge for year 23.727 975 At 31 March 2024 24.702 NET BOOK VALUE At 31 March 2024 2,925 At 31 March 2023 INVESTMENT PROPERTY FAIR VALUE At l April 2023 and 31 March 2024 380 000 NET BOOK VALUE At 31 March 2024 380,000 Ai 31 March 2023 The investment properties were valued at open market value by Messrs Gibbins Richards. Estate agents, of 37 High Sireet. Wellington. Somerset as ai 31 March 2018. The Trustees consider that the valLte of the properties w&$ not significanily differeni 31 Mah 2024 following the disSaI of 3 Walkers gate in ihis year. .Page 13 continued...
iafe C¢nlr*l Ltd Notes to the Financial Statements- continued for the Year EDded 31 March 2024 DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2024 2023 Other debtors Prepayments and accrued income 10,788 1,644 11,449 1,644 10. CREDtTORS: AMOUNTS FALLIiYC DUK wrrHIN ONE YEAR 2024 2023 Trade creditors Social security and other tsxes Other Creditors Accruals and deferred income 1,203 3,121 498 147 147 1,097 II. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 556.170 16.137 572.307 TOTAL FUNDS 556 170 572,307 Nei movement in funds, in¢luded in the above are as follows= Incoming resources Resour¢es expended Movement in funds Unrestricted funds General fund 90,710 (74.573) 16,137 TOTAL FUNDS 74513) Page 14 ¢oniinued.-.
Life Centrdl Ltd Notes to the Financial St8iements- continued for the Year Ended 31 March 2024 ii. MOVEMENT IN FUNDS- eontinued Comparatives for movement ID funds Net movement in funds At 31.3.23 At 1.4.22 Urtricted funds General fund Buildings fund 35,074 540.000 (18.904) 16.170 540.000 575 074 556 170 TOTAL FU]YDS 575.074 18.904) 556,170 Comparative net movement In funds. included in the aiK)ve are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 54,430 (73,334) (18,904) TOTAL FUNDS 54,430 73,334) 18094) Purpose of Buildings Fund (d¢5ign*ted fund) The proceeds from the sale of the charity's fomer premises were designaied for ihe purchase of properties to provide an in¢ome for the charity and for the purchase of r¢placern¢nt premises in which to hold some of ihe charity's activities. The fund has been used io purchase the invesimeni properties but ihe Trustees decided not to purchase replacement premises and so the unused Buildings Fltnd was released io ihe General Fund in 2016. The Building5 Fund also include5 the revaluation reserve of £51.525 (2021 £51,525) whi¢h represents the amount by which inve51ments ex¢eed their historical cosi. Page 15 ¢onlinued...
Life Central Ltd Notes to the Fillaneial St*tements- eontlDued for the Year Ended JI March 2024 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year eThJed 31 March 2024. Page 16
Life Ctntr*l Ltd Detailed StatemeD¢ of Financial Activities lor the YvAr Ended 31 Marth 2024 2024 2023 DONATIONS AND GIFTS RECEtVED Donations and leggcieg Specific gifts Tithes and Offerings Tax refunds 20,817 6.622 26.299 27.439 29,708 Investmeot income Rents received Bank interest received 21,191 24.701 21 23.271 24,722 Total incoming resomrees 50.710 54,430 EXPEI¥DITURE Direct cbaritable expendItre Travel, hotel & hospitaliiy Teaching resources Sundries Gifts - Donations and support 5.600 73 798 4,689 5,556 182 1,209 1,966 11.160 8.913 Maiotenanee rntes Repairs and renewa15 Rent and rates Light and heat 3,765 6,532 3,765 8,661 Adnhinistration AdministTatioD Wages Legal and professional fee5 Insurance Carried forward 45.269 3,139 471 48.819 40,179 986 647 41,812 This page does not fonn part of th¢ #atuiory finala] statements Page 17
iafe Central Ltd Detailed Statement of Financial Aetivitles for the Year Ended 31 M*r¢h 21124 2024 2023 Administrdtion B Tought forward Telephone Printing, staiionary, postage, IT. website and advertising Bank charges and inierest Subscriptions Depreciaiion of tsngible heritsge asse 48.819 1,721 41,812 2,523 1,595 1.931 395 975 369 1,300 53,686 48.052 Investment management Maintenance of investment properties Insurance Agent fees 3.131 785 2,046 3,914 852 2.942 5.962 Totsl resources expended 74,573 73.334 Profit on disposal of property 40,000 Ntt ¢xpeMditsre 16,137 18.904) This page does not forni W ofihe Swutory finan¢ial ststements Page 18