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2021-03-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A Company Limited by Guarantee)

CHARITY REGISTRATION NUMBER 1142420

COMPANY REGISTRATION NUMBER 07650618

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

1

LATYMER CHRISTIAN FELLOWSHIP TRUST
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page 3 Legal and Administrative Information
Page 4 Independent Examiner's Report
Page 5 to 10 Directors' Annual Report
Page 11 Statement of Financial Activities
Page 12 Balance Sheet
Pages 13 to 21 Notes to the Financial Statements

2

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER 1142420 COMPANY REGISTRATION NUMBER 07650618 DATE OF INCORPORATION 27th May 2011 START OF FINANCIAL YEAR 1st April 2020 END OF FINANCIAL YEAR 31st March 2021 DIRECTORS AT 31ST MARCH 2021 Simon Blanchflower Timothy Paul Spencer Hazel Vinson James Fletcher Gillian Bedford Eman Bahgat Mahmoud Tawfik Yosry (appointed 7th September 2020) Deborah Barnett (appointed 7th September 2020)

GOVERNING DOCUMENT

Memorandum and Articles of Association dated 27th May 2011

OBJECTS

i) To advance the Christian faith in accordance with the statement of beliefs appearing in the Articles of Association in the Royal Borough of Kensington and Chelsea and in such other parts of the United Kingdom or the world as the Trustees from time to time may think fit.

ii) To relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said borough and in such other parts of the United Kingdom or the world as the Trustees from time to time think fit.

iii) To promote and fulfil such other charitable purposes beneficial to the community in the said borough and in other such parts of the United Kingdom or the world as the Trustees may from time to time think fit.

REGISTERED ADDRESS 116 - 118 Bramley Road North Kensington London W10 6SU BANKERS The Co-Operative Bank Plc P.O Box 250 Skelmersdale WN8 6WT INDEPENDENT EXAMINER Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

3

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity’s trustees of the Company (who are also the directors of the company 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 for this year under Part 16 of the 2006 Act and are eligible for independent examination, 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 completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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; or

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.

J Irvinesmith FCIE

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre

Delling Lane Bosham West Sussex PO18 8NF

Date: 24th January 2022

4

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31ST MARCH 2021

1. Reference and Administrative details

Trustees: Simon Blanchflower Timothy Paul Spencer Hazel Vinson James Fletcher Gillian Bedford Eman Bahgat Mahmoud Tawfik Yosry (appointed 7th September 2020) Deborah Barnett (appointed 7th September 2020) Senior Staff Members : Luiz Lopez, Operations Manager Steve and Tanya Bownds, Church Leaders Church Leaders: Jackie Blanchflower (finished in October 2020) Simon Blanchflower (finished in October 2020) Mary White Steve Bownds Tanya Bownds

Bankers: Co-operative Bank plc, PO Box 250, Skelmersdale, WN8 6WT

2. Structure, Governance and Management

Latymer Christian Fellowship Trust was formed as a charitable company as set out in our Memorandum and Articles of 27th May 2011. It continues the work of the charitable trust, Latymer Christian Fellowship Trust, which was in operation from 1995 to 2011.

The work of the Trust is carried out by a small number of employees and sessional workers and an increasing number of volunteers. Tanya and Steve Bownds share a full-time role of overall leadership of the church and work of the charity. The Trustees meet on a quarterly basis to receive reports on both the running of the building and the church and to give strategic leadership to the activities of the Trust. Trustees are inducted by the Chair of Trustees using the Charity Commission’s document “The Essential Trustee” and

Key partnerships for the Trust include:

3. Objectives and Activities

The main purposes of the Trust as set out in its Memorandum and Articles are to:

The activities of the Trust are primarily undertaken in the Royal Borough of Kensington and Chelsea but also in such other parts of the UK or the world as the Trustees may think fit.

5

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS (Continued)

FOR THE YEAR ENDED 31ST MARCH 2021

3. Objectives and Activities (continued)

The Trustees have reviewed the Trust’s activities in the light of the Charity Commission’s requirement to demonstrate public benefit in line with the charity’s aims and are confident that the principles outlined in published guidance have been met as follows, more detail is provided in the body of the report:

Principle 1 – There must be an identifiable benefit or benefits – it must be clear what the benefits are, they must be related to the aims and must be balanced against any detriment or harm.

The charity through its church services and activities, community activities and care/concern for vulnerable members of the community is meeting its aims and delivering clear public benefit through doing so.

Principle 2 – Benefit must be to the public, or section of the public – the beneficiaries must be appropriate to the aims, the opportunity must not be unreasonably restricted, people in poverty must not be excluded from the opportunity to benefit and any private benefits must be incidental.

Church services are open to all to attend, as are the majority of community activities. Some of our groups are specifically for women or girls or for young people/children. Where charges are made for community activities these are set at a level such that people are not excluded (most activities are free).

The words “unprecedented” and “challenging” have perhaps been over-used during the pandemic but they are the words that best describe this period, although there have been significant encouragements along the way. Our vision to follow Jesus, love all people and make disciples in Ladbroke Grove has continued despite this, but the way that we have delivered it had to alter throughout the year in light of the various restrictions. Alongside the seismic changes brought about by the pandemic we also had a number of changes in our team and partnerships so we are grateful to God for sustaining our ministry throughout, and for His provision.

a) Church

Key roles

Having employed Tanya and Steve Bownds to undertake the Team Leadership of the church in 2019, we were able to release Simon and Jackie Blanchflower from their roles in the Leadership Team in October 2020 after many years of faithful service. They remain very much a part of the church and Simon continues in his role of Chair of Trustees. We were keen to broaden the input into our leadership team, so in June we set up a Perspectives Group with people from a range of backgrounds to share their perspective, and in January 2021 we invited two other church members to participate in a “Leadership+” group, to enable them to contribute to leadership discussions whilst not bearing the full weight of leadership responsibility. We have also updated our Equality and Diversity Vision and made it available on our website.

Our values are to be biblical, evangelistic, prayerful, experimental and generous, and we certainly needed to be experimental throughout the year! The key elements of our work varied in form during the year and we also added new activities as needed or permitted.

Church Services: As soon as the first lockdown happened, we moved over to church on zoom. A small but significant number of our church are not online and so when we were able, we opened the church for private prayer on Sundays and to watch the zoom service via a data projector. In the summer we were able to visit other churches, mainly from the Pioneer network, online followed by an opportunity to discuss the service on zoom. In the autumn we had a sermon series on identity. We celebrated Christmas online and in the building with limited numbers. The theme for 2021 is God’s Presence, Power and Purpose.

Discipleship: Our Thursday night Discipleship Groups also moved to zoom, and a new development was daily 12 noon prayer together. This was a really important source of encouragement and support and had various elements through the year. Initially it focussed on prayer and the characteristics of God, and then included bible study from our Bible Reading Adventure with books including the Psalms, John, Genesis. It was encouraging that seven of us attended the Pioneer Women in Leadership Conference and seven the Pioneer Leaders’ Conference. Being online meant a greater take-up for both.

Prayer and Worship: It was essential to be prayerful through the period, and in addition to the regular week-day prayer sessions and weekly leadership team prayer, we held three 24/1 prayer sessions, each with a specific focus including Covid/Racism around the time of George Floyd’s murder, our partnerships with LCM and Eden, and a Pioneer prayer day in February. Our monthly Worship Nights continued online through the period.

6

LATYMER CHRISTIAN FELLOWSHIP TRUST (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS (Continued) FOR THE YEAR ENDED 31ST MARCH 2021

3. Objectives and Activities (continued)

Pastoral care: A key part of our work has always been pastoral care. The challenges of lockdown were especially acute for those who were not online, those who already had mental or physical health challenges and those whose weekly routine was largely dependent on attending a number of different activities hosted by Latymer and other local organisations. Therefore, a significant amount of time when lockdown was most severe was spent in one-to-one pastoral support with telephone calls, doorstep visits and walks when allowed. Vulnerable adults in the church were encouraged and enabled to form support bubbles. Two of our dearly-loved older church members died of non-Covid causes during the year and mourning their loss was of course made more difficult by the ongoing Covid situation. “Supporting adults at risk” training was held for fourteen staff and volunteers as part of our commitment to vulnerable people, and the Safeguarding Co-ordinators held monthly safeguarding meetings in addition to a significant amount of ongoing work with individuals.

Youth and children’s work : This work was previously spearheaded through our partnership with Eden Network, with a full-time Eden Team Leader. This post had become vacant in December 2019 and our Girls’ Worker also finished as the year began. It was great that despite Covid and lack of staff that activities that we were able to do included:

We were unsuccessful in recruiting for the Eden Team Leader role in summer 2020 and the level of uncertainty around Covid meant that we didn’t try to recruit again. We have maintained our relationship with Eden Network and our two remaining Eden team members are very committed to the work of the church and are serving in a number of other roles as well as being involved with youth and children’s work.

Mission Partnerships: London City Mission (LCM) made a major change to their mission model, from individual missionaries working primarily with a single placement church, to a model of a team of missionaries working across a number of churches so the placement of a Missionary and Mission Associate with us came to an end in August 2020. We continued to support a range of mission organisations financially and held a World Sunday to pray for other nations. In Lent 2021 a number of us participated in International Justice Mission’s #makeslavefreenormal group. We continue to benefit from being part of the Pioneer Network, and from our relationships with other church leaders locally through the Together for God network and Grenfell Faith Leaders.

Community Outreach

Our community work is co-ordinated by the part-time Church and Community Development Worker and supported by volunteers. We were creative in doing things differently during the year as restrictions allowed: Activities included:

A highlight was using our Coach Trip budget for a Happiness Fund where people already on our mailing lists could apply for £25 (single/couples) or £50 (families) to do something fun. Activities ranged from going to the seaside or for a meal and the fund benefitted around 60 people.

Grenfell

The Grenfell Public Inquiry had a number of pauses owing to the pandemic. The Third Anniversary had to be commemorated online and we contributed video messages to the two services as well as remembering Grenfell in our service and being present outside our building to support and be available for the community.

7

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS (Continued) FOR THE YEAR ENDED 31ST MARCH 2021

3. Objectives and Activities (continued)

b) Building

The Trust is in the second year of a new 10-year tenancy agreement which runs until March 2030.

The pandemic obviously had a major effect on the use of, and income from, the building, which meant that we needed to furlough or semi-furlough all of our Operational Staff at different times during the year, and make our Admin/Receptionist post redundant.

A number of other Christian and charitable organisations providing activities of benefit to the local community continued to be based at the building and opened when restrictions allowed. These included:

Our pricing structure reflects our desire to advance the Christian faith and to fulfil charitable purposes, as Christian and charitable groups benefit from lower hire rates.

As part of our commitment to supporting other users in our building, we waived any notice period for room hire and so all of our room hire income stopped immediately. We worked closely with other users, especially the 240 Project to ensure Covid-secure reopening as soon as was wise when restrictions lifted. As 240 were working with adults at risk they were able to re-start support groups before other users could return.

We continue to benefit from the flat owned by Livability, 40 Talbot Grove House, which is currently housing our Church Team Leaders.

4. Achievements and Performance

It could be argued that in a year like no other, the key achievement has been simply to survive, but God has done much more than that in and through us. In the midst of many challenges, we also celebrate:

5. Financial Review

It’s been a financial year like no other.

The unrestricted reserves policy target is £67,000, which is equivalent to 3 months’ worth of expenditure, plus £12,000 for boiler replacement and a big piece of unplanned work totaling £79,000. We finished the year with unrestricted reserves of £237,140 (including designated funds) which amounts to a variation of £158,140 from the policy; and we also hold £25,134 in restricted funds.

We were planning to spend a significant amount of our funds held from 2017/18 from our BT Donate fundraising page, which are for “anyone impacted by the Grenfell Tower disaster… as well as the people who lived in the Tower, anyone who witnessed it or who has lost a loved one is a victim of this terrible tragedy.” However, as the pandemic meant we were severely restricted in activities and events we could hold, we put a proportion of this money towards staff time, providing one-to-one support to local residents in greatest need.

A number of funders supported us in this financial year. We are delighted that the Kensington and Chelsea Foundation continue to fund us as an Organisation Champion in recognition of our role in supporting the Grenfell community with an unrestricted gift of £30,000, and Old Possums Practical Trust also gave an unrestricted gift towards our community work of £2,500. Kensington and Chelsea Council continue to give us a grant towards core costs. Westway Trust supported us with a grant of £2,500 towards our community activities.

We are so appreciative of the flexible approach of London Community Foundation. They had awarded us, through the Grenfell Youth Fund, a grant of around £14,000 a year towards our youth work for three years. In light of Covid19, they removed the restriction on that funding, allowing it to be used to pay for staff salaries, or any other overhead costs (e.g. rent) or costs the organisation needs in order to keep running.

8

LATYMER CHRISTIAN FELLOWSHIP TRUST (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS (Continued) FOR THE YEAR ENDED 31ST MARCH 2021

5. Financial Review (continued)

The Trustees continued in their financial management policies which include:

In the light of the significant financial challenges of Covid, additional measures included regular reforecasting of the budget, and reviewing staffing in light of the building closure and lack of income generated from building use. The Leadership Team and Chair of Trustees communicated regularly during this time.

The charity’s principal income sources are:

The major risk during this time was of course the lack of income from the building (room and office hire, car park spaces) as it was closed for much of 2020/2021. However, this was mitigated by careful financial planning from previous years meaning we have more in reserves than our policy requires and the income coming into the church through tithes, giving and funding remaining reasonably stable throughout.

There was some concern that closing down the building could result in additional building works being necessary on return, but these would be covered financially by the reserves mentioned above.

The Trust’s expenditure has advanced the Christian faith by providing activities and resources to encourage people in their faith journey. The provision of community activities, and during this time of COVID particularly, the one-to-one calls, walks and doorstep visits, has been beneficial to local people.

The Trust maintains and develops the church building as a resource and does not hold material investments.

6. Plans for the Future

Having set key priorities for 20/21 in January 2020, the effects of COVID-19 meant that these were put on hold in order to respond to the regular governmental changes of what was and wasn’t allowed for individuals and organisations, particularly in terms of inperson support, care and activities.

The financial year has ended with us still in lockdown and preparing to be as responsive and flexible as we look towards re-opening sometime in 2021. We plan to re-open gradually with the most vulnerable being able to restart activities soonest in a way that is safe and aligned with government guidance. These decisions will be made alongside our regular building users to prioritise the most vulnerable individuals

As an organisation we are looking forward to a time when we can be back together in person and to being discerning about which activities are restarted and which may have served their time.

During this ongoing time of Covid19, we plan to continue to be focused on:

With regard to managing the building, we wish to ensure that the building is a safe and welcoming place when we return to it. The Church Team Leaders are also making plans for finding alternative living accommodation as Livability are looking to sell 40 Talbot Grove House.

Given that we are still unsure about how long the situation with COVID will continue, we are making parallel plans in terms of finances, staff and activities based on a variety of possible scenarios, holding them flexibly.

9

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS (Continued) FOR THE YEAR ENDED 31ST MARCH 2021

Statement of Directors' Responsibilities:

The Charities Act and the Companies Act require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-

The Directors are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Directors are also responsible for the contents of the Directors' report, and the responsibility of the independent examiner in relation to the Directors' report is limited to examining the report and ensuring that on the face of the report there are no inconsistencies with the figures disclosed in the financial statements.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

I approve the attached statement of financial activities and balance sheet for the year ended 31st March 2021, and confirm that I have made available all information necessary for its preparation.

Approved by the Directors on the 19th January 2022

Signed on their behalf by Director: S.Blanchflower

Print Name: S.BLANCHFLOWER

10

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITY

FOR THE YEAR ENDED 31ST MARCH 2021

Notes
INCOME FROM:
Donations & Legacies
3a
Trading Activities
3b
Investments
3c
Charitable Activities
3d
Other Income
3e
TOTAL INCOME
EXPENDITURE ON:
Charitable Activities
4a
Raising Funds
4b
Governance Costs
4c
TOTAL EXPENDITURE
NET INCOME/(EXPENDITURE)
Transfer Between Funds
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2020/21
2019/20
£
£
£
£
£
60,404
-
-
60,404
59,885
-
58,616
-
58,616
113,426
659
459
52
1,170
1,505
32,640
11,244
5,621
49,505
75,564
-
-
-
-
-
93,703
70,319
5,673
169,695
250,380
40,378
49,114
25,884
115,376
171,718
-
28,021
8,700
36,721
59,936
150
3,129
-
3,279
13,802
40,528
80,264
34,584
155,376
245,456
53,175
(9,945)
(28,911)
14,319
4,924
-
-
-
-
-
53,175
(9,945)
(28,911)
14,319
4,924
151,412
42,498
54,045
247,955
243,031
204,587
32,553
25,134
262,274
247,955

Movements on all reserves and all recognised gains and losses are shown above. All the charity's operations are classed as continuing.

The notes on pages 13 to 21 form part of these financial statements.

11

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET

AS AT 31ST MARCH 2021

Note
Fixed Assets
Tangible Assets
2
Current Assets
Debtors & Prepayments
8
Cash at Bank and in Hand
7
Total Current Assets
Creditors:due within one year
9
NET CURRENT ASSETS
TOTAL ASSETSless current liabilities
Creditors:due in more than one year
NET ASSETS
Funds of the Charity
General Funds
Designated Funds
5
Restricted Funds
6		 Unrestricted
Restricted
Total
Total
Funds
Funds
31-Mar-21
31-Mar-20
£
£
£
£
1,391
-
1,391
2,088
26,844
-
26,844
21,698
210,705
25,134
235,839
243,059
237,549
25,134
262,683
264,757
1,800
-
1,800
18,890
235,749
25,134
260,883
245,867
237,140
25,134
262,274
247,955
-
-
-
-
237,140
25,134
262,274
247,955
204,587
-
204,587
151,412
32,553
32,553
42,498
-
25,134
25,134
54,045
237,140
25,134
262,274
247,955
Company registration number: 07650618

Directors' Responsibilities:

The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

Approved by the Directors on the 19th January 2022

Signed on their behalf by Director: S.Blanchflower

Print Name: S.BLANCHFLOWER

12

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

1. ACCOUNTING POLICIES

Basis of Preparation

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.

The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.

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.

Income

Recognition of Income

These are included in the Statement of Financial Activities (SOFA) when:

Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

Grants and Donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).

Tax Reclaims on Donations and Gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Contractual Income and Performance Related Grants

This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.

Gifts in Kind

Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.

Legacies

Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.

Government Grants

The charity has received government grants in the reporting period

Donated Services and Facilities

Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.

Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.

Volunteer Help

The value of any voluntary help received is not included in the accounts but is described in the Directors' annual report.

13

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2021

1. ACCOUNTING POLICIES (Continued)

Income from interest, royalties and dividends

This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.

Investment Gains and Losses

This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

Insurance claims

Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP) and are included as an item of other income in the SoFA.

Income from membership subscriptions

Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.

Expenditure and liabilities

Liability Recognition

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

Governance and Support Costs

Support costs represent the cost of central functions, for example governance costs, payroll administration, information technology. Governance costs are those support costs which relate to public accountability of the charity and its compliance with regulation and good practice.

Grants with Performance Conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

Grants Payable without Performance Conditions

Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised.

Employee benefits

Short term benefits including holiday pay are recognised as an expense in the period in which the service is received.

Redundancy cost

The charity made no redundancy payments during the reporting period.

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.

Deferred income

No material item of deferred income has been included in the accounts.

Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

Provisions for liabilities

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date

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.

Taxation

The charity is exempt from tax on its charitable activities.

14

LATYMER CHRISTIAN FELLOWSHIP TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2021

Fixed Assets

Tangible fixed assets for use by the charity, these are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt.

Depreciation Expense

Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a Reducing Balance over their estimated useful lives. The rates applied per annum are as follows:

General Equipment 25%

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year.

2. TANGIBLE FIXED ASSETS

2. TANGIBLE FIXED ASSETS
General Designated Total
Equipment Equipment
£ £ £
Cost 01-Apr-20 39,769 4,401 44,170
Additions - - -
Disposals - - -
Cost at 31-Mar-21 39,769 4,401 44,170
Depreciation 01-Apr-20 38,801 3,281 42,082
Charge 323 374 697
Disposals - - -
Depreciation at 31-Mar-21 39,124 3,655 42,779
Net Book Value 31-Mar-21 645 746 1,391
Net Book Value 31-Mar-20 968 1,120 2,088

The annual commitments under non-cancelling operating leases, capital commitments and contingent liabilities at 31st March 2021 are as follows:

Quarterly rental lease payments of £2,500

15

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

3. INCOME FROM:

a) Donations & Legacies
Gift Aid Donations
Gift Aid Tax Refund
Gifts & Offerings
b) Other Trading Activities
Centre Bookings
Car Park
Flat Rent
Flat 40 TGH
c) Investments
Interest
d) Charitable Activities
Community Activities
Gain on disposal of fixed assets
Grants
Grants - HMRC Job retention scheme
Sundry Income *		 Unrestricted
Designated
Restricted
Total
Total
Funds
Funds
Funds
2020/21
2019/20
£
£
£
£
£
36,955
-
-
36,955
35,696
9,279
-
-
9,279
9,665
14,170
-
-
14,170
14,524
60,404
-
-
60,404
59,885
-
31,261
-
31,261
75,887
-
11,233
-
11,233
12,389
-
16,122
-
16,122
18,550
-
-
-
-
6,600
-
58,616
-
58,616
113,426
659
459
52
1,170
1,505
659
459
52
1,170
1,505
32
-
-
32
1,592
-
-
-
-
1,449
32,500
-
5,621
38,121
71,677
11,471
-
11,471
-
108
(227)
-
(119)
846
32,640
11,244
5,621
49,505
75,564

16

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

4. EXPENDITURE ON:

a) Charitable Activities
Advertising & Publicity
Children & Youth Work
Church Weekend Away
Community Activities
Depreciation Expense
Discipleship Expenses
Eden Central Support
Equipment Renewals
Evangelism Resources
Gifts & Donations
Grenfell Projects
Music Expenses
Outreach
Printing, Postage & Stationery
Staff Costs
10
Sundry Expenses
Telephone Costs
Training Costs
Travel Costs
Volunteer Costs
Website & IT Costs
b) Raising Funds
Building Repairs & Maintenance
Centre Flat
Cleaning & Hygiene Costs
Council Tax
Equipment Maintenance
Electricity
Fundraising Costs
Gas Costs
Rent
Service Charges
Sundry Expenses
Waste Collection
Water Costs
c) Governance Costs
Independent Examiners Fee
Insurance Costs
Leadership Support
Legal & Professional Fees		 Unrestricted
Designated
Restricted
Total
Total
Funds
Funds
Funds
2020/21
2019/20
£
£
£
£
£
109
-
-
109
420
30
-
621
651
3,229
13
-
-
13
-
558
-
1,122
1,680
4,432
323
374
-
697
697
321
-
-
321
1,736
1,500
-
-
1,500
1,375
-
-
-
-
756
46
-
-
46
2,959
11,798
-
-
11,798
15,494
-
-
-
-
654
554
-
-
554
375
1,893
-
-
1,893
-
771
491
-
1,262
1,779
20,236
45,156
24,141
89,533
130,329
102
-
-
102
-
565
1,048
-
1,613
2,060
847
-
847
2,442
-
-
-
-
619
272
-
-
272
311
440
2,045
-
2,485
2,051
40,378
49,114
25,884
115,376
171,718
-
3,753
1,292
5,045
9,720
-
259
-
259
426
-
8,925
-
8,925
28,730
-
962
-
962
926
-
3,935
-
3,935
3,975
-
2,655
-
2,655
2,006
-
-
-
1,502
-
3,752
-
3,752
3,880
-
2,082
5,000
7,082
-
-
-
2,039
2,039
1,793
-
183
-
183
3,099
-
1,058
-
1,058
1,385
-
457
369
826
2,494
-
28,021
8,700
36,721
59,936
-
1,800
-
1,800
1,920
-
1,077
-
1,077
2,686
150
-
-
150
7,720
-
252
-
252
1,476
150
3,129
-
3,279
13,802

17

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

5. DESIGNATED FUNDS

Church Buildings
Church Buildings		 Balance
Balance
01-Apr-20
Income
Expenditure
31-Mar-21
£
£
£
£
42,498
70,319
80,264
32,553
42,498
70,319
80,264
32,553
Balance
Balance
01-Apr-19
Income
Expenditure
31-Mar-20
£
£
£
£
58,310
108,955
124,767
42,498
58,310
108,955
124,767
42,498
CURRENT FINANCIAL YEAR
PREVIOUS FINANCIAL YEAR

Church Buildings - Funds held for future operating costs, developments and major building repairs

The Charity's Designated funds are represented by the Charity's cash reserves held and are to be expended as specified above.

6. RESTRICTED FUNDS

40 TGH
Ops - Kingston Smith
Ops - All Churches Trust
Ops - RBKC/City Living Local Life
Eden - Children in Need
Eden - Co-operative Community Fund
Eden - London Community Foundation
Eden - RBKC/10 Minute Shake Up
Church - Kensington and Chelsea Council
Church -Westway Trust
Church - RBKC
Post Grenfell - Gifts for those affected by the fire (BT Donate)		 Balance
Balance
01-Apr-20
Income
Expenditure
31-Mar-21
£
£
£
£
15,027
52
(3,700)
11,379
-
-
-
-
5,000
-
-
5,000
2,000
-
-
2,000
-
-
-
-
-
-
-
-
10,768
-
(10,621)
147
-
-
-
-
-
-
-
-
-
2,500
(2,500)
-
-
3,121
(3,121)
-
21,250
-
(14,642)
6,608
54,045
5,673
(34,584)
25,134
CURRENT FINANCIAL YEAR

18

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

6. RESTRICTED FUNDS (continued)

40 TGH
Ops - Kingston Smith
Ops - All Churches Trust
Ops - RBKC/City Living Local Life
Eden - Children in Need
Eden - Co-operative Community Fund
Eden - London Community Foundation
Eden - RBKC/10 Minute Shake Up
Church - Kensington and Chelsea Council
Church -Westway Trust
Post Grenfell - Gifts for those affected by the fire (BT Donate)		 Balance
Balance
01-Apr-19
Income
Expenditure
31-Mar-20
£
£
£
£
12,236
6,667
3,876
15,027
-
650
650
-
-
5,000
-
5,000
-
2,000
-
2,000
3,012
-
3,012
-
-
3,408
3,408
-
-
13,803
3,035
10,768
306
306
-
-
3,060
3,060
-
-
950
950
-
24,732
-
3,482
21,250
39,980
35,844
21,779
54,045
PREVIOUS FINANCIAL YEAR

Purposes of restricted funding received are as follows:

Kingston Smith - funding towards volunteering day All Churches Trust - funding towards refurbishment work RBKC Community Engagement - funding towards refurbishment work Co-operative Community Fund - funding for work with children and young people London Community Foundation - funding for work with children and young people RBKC/10 Minute Shake Up - funding for work with children and young people Kensington and Chelsea Council - funding towards core salary cost Westway Trust - support for exercise class

Income and expenditure relating to the flat 40TGH is also treated as a restricted fund.

The Charity's Restricted funds are wholly represented by the Charity's Cash Reserves and are to be expended as specified above.

19

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

7. CASH AT BANK AND IN HAND

General Accounts:
Current
Deposit
Fixed Rate Deposit Account
Cash in Hand
Eden Current Account
Eden Cash in Hand
Church Buildings:
Current
Deposit
Fixed Rate Deposit Account
40 TGH Flat Account
PayPal Account
Cash in Hand
8. DEBTORS AND PREPAYMENTS
Accrued Income
Centre Bookings
Gift Aid Tax Recoverable
Prepayments
Sundry Debtors
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Independent Examiners Fee
Accrued Salary Costs
Other Accruals
Sundry Creditors
10. STAFF COSTS AND NUMBERS
Gross Wages and Salaries
Employer's National Insurance Costs
Employers Allowance (3 x years to be reclaimed)
Pension Contributions
Expenses
Self Employed Staff		 31-Mar-21
£
22,849
101,801
21,657
179
22,346
132
25,164
2,459
27,798
11,199
97
158
235,839
31-Mar-21
£
10,628
2,180
9,279
4,757
-
26,844
31-Mar-21
£
1,800
-
-
-
1,800
2019/20
£
91,178
5,865
(9,000)
1,489
-
-
89,533		 31-Mar-20
£
16,019
102,489
21,337
523
23,135
265
21,824
14,907
27,417
14,981
-
162
243,059
31-Mar-20
£
-
6,778
9,666
4,777
477
21,698
31-Mar-20
£
1,920
9,158
7,335
477
18,890
2018/19
£
115,531
8,157
-
2,704
437
3,500
130,329

The Charity operates a PAYE scheme to pay all employed members of staff and no employees received emoluments of over £60,000 (2019/20: None).

20

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2021

10. STAFF COSTS AND NUMBERS (continued)

Employees who were engaged in each of the following activities:

Activities in furtherance of organisation's objects 2020/21
5
5		 2019/20
7
7

The Church had 7 employees at the start of the period and 5 employees at the end of the period.

The key management personnel of the charity comprise the Trustees and Senior Management Team. No Trustees received remuneration. The total employee benefits (including employer national insurance contributions) of the key management personnel of the charity were £20,731.

11. RECONCILIATION OF MOVEMENT ON CAPITAL AND RESERVES

The Company is Limited by Guarantee (07650618) and is a Charity registered with the Charity Commission (1142420) and does not have a Share capital and has no income subject to Corporation Tax.

Profit / Deficit for the financial year
Other Recognised Gains
Balance Brought Forward
Closing Funds at 31st March 2021/31st March 2020		 2020/21
£
14,319
-
14,319
247,955
262,274		 2019/20
£
4,924
-
4,924
243,031
247,955

12. PAYMENTS TO DIRECTORS AND RELATED PARTIES

In this financial year, no payments were made to directors or any persons connected with them, other than for reimbursements for purchases made on behalf of the Charity. No material transaction took place between the charity and a trustee or any person connected with them (2020/19: Tanya Bownds resigned as a director in September 2019 on taking up employment as a church leader. The salaries of Tanya and Stephen Bownds were wholly for their duties as church leaders.)

13. RISK ASSESSMENT

The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

14. RESERVES POLICY

The Directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The directors will endeavour not to set aside funds unnecessarily.

15. PUBLIC BENEFIT

The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Directors' report. The Directors confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

21