ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 LATYMER CHRISTIAN FELLOWSHIP TRUST IA Company Limited by Guarantee) CHARITY REGISTRATION NUMBER 1142420 COMPANY REGISTRATION NUMBER 07650618 Independenr Examlners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Su55ex P018 8NF LATYMER CHRISTIAN FELLOWSHIP TRUST {A COMPANY LIMITED BY GUARANTEE) CONTENTS Page 3 Legtl and Administrative Information Page 4 Independent Examlner's Report Page S to 10 Directors. Annual Report Page IL ststement of Financial Activities Page 12 Balance Sheet Pages 13 to 21 Notes to the Financial Statements 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 2022 END OF FINANCIAL YEAR 31st M3rch 2023 DIRECTORS THAT SERVED DURING THE YEAR TO 31ST MARCH 2023 Sirnon Blanchflower Timothy Paul Spencer Ireslgned 4th May 20221 Hazel Vinson Gillian Bedford Eman Bahg3r M3hmoud Tawflk Yosry Deborah Barnett (resigned 22nd February 20231 Jose Liste (appointed Ilth May 20221 Ricardo Estee-wale lappolnted Ilth Nay 20221 GOVERNING DOCUMENT Nemorandum and Artides of Association dated 27th May 2011 OBJECTS 11 To advance the Christlan faith in 3¢cordance wlth the statsment of belief$ 3ppe3rlng in the Articles of ￿soCIation in the Royal Borough of Kensington and Chelsea and in such other parts of the United Kingdom or the world a5 the Trustees trotn titne to titne rnay think fit. ill 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 borough 3nd In such other parts of the Unlted Kingdom or the woAd as the Trustees from tlme to time think flt. iii) To promote and fulfil such other charitable purp05e5 beneficial to the communrty in the said borough and in other such parts of the United Kingdom or the wodd as the Trustees may frorn tirne to time think fit. REGISTERED ADDRESS 116 - 118 Brarnley Road North Kensington London WIO 6SU BANKERS The Co-operatlve &nk PIC P.0 Box 250 5kelmersdale WN8 6WT INDEPENDENT EXAMINER Independent Examiners Ltd Unlt 2 The Broadbrldge Buslness Cent Delling Lane Bosham West Sussex P018 8NF LATYMER CHRISTIAN FELLOWSHIP TRUST {A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS report to the chanty trustees on my examination of the accounts of the Company for the year ended 31 March 2023. RESPONSIBILITIES AND BASIS OF REPORT As the charity's trustees of the Company (who are 31so the d1￿CtorS of the company for the purposes of company lawl, you are responsible for the p￿paratIon of the accounts In accord3nce wlth the requlrements of the Companles Acr 2006 1.the 2006 Att-l. Havlng satisfied myself that the accounts of the Company a￿ not requlred to be audited for this year under Part 16 of rhe 2006 Att and a¢ eligible for independent examinition, l ￿port in trspect of my examination of your chirity's accounts is carried out under 5ectioTr 145 of the Charitie5 Att 2011 1.the 2011 Act'l. In carrying out my examination, I have followed the Directions given by the Charity Cornrnission (under section 14515llbl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT I have cornpleted rny examination. I confirrn th3t no material matters have come to my attention which gives me cause to believe that.. accounting record5 were not kept in accordance with settion 386 of the Companie5 Act 2006; or the 3ccoJnts do not 3ccord wlth such ￿cords., or the accounts do not comply with relevant accountino requirements under settion 396 of the Cornp8nie5 Act 2006 other than any requirement that the accounts give a'true and fair, view which 15 not a matter considered as part of an independent examination,. or the 3ccounts have not been prepared In accordance wlth the Charltles SORP IFR51021. 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 pmper understanding of the accounts to be reached. J Irolnesmith FCIE Independent Examiners Ltd Unlt 2 The Broadbrldge BusIn￿$ Centre Delling tsne Bosharn West Sussex POL8 8NF Date.. 27th SeplÈmbÈr 2023 Annual Report 2022-2023 Latymer Christian Fellowship Trust Registered Charity Number 1142420 Company Registration Number 7650618 Memorandum and Articles dated 27 May 2011 l. Reference and Admlnl$tratlve detall$ Trustees: Simon Blanchflower Hazel Vinson Gillian Bedford Eman Bahgat Mahmoud Tawfik Y05ry Ricardo E5tee-Wale (appointed I l May 20221 Jose Liste lapp)inted I l May 20221 Deborah Barnett (Resigned 22 February 20231 Timothy Paul Spencer (Resigned 11 May 20221 Senior Staff Members.. Steve and Tanya Bownds, Church Leaders Lulz Lopes, Operation5 Manager (until 31 Dec 20221 Church Leaders: Steve and Tanya Bownds Mary Whlte Bankers: Co-operative Bank plc, PO Box 250, Skelmersdale, WN8 Independent Examiner.. Independent Examiners Limited Registered Address: 116 8ramley Road, London, WIO 6SU 2. Structure. Governance and Management Latymer Christian Fellowship Trust was formed as a charitable company as set out in our Memorandum and Articles of 27, May 2011. It continues the work of the charitable trust, L3tymer Christian Fellowship Trust, which was in operation from L995 to 2011. The work of the Trust is carried out by a small number of employees and an increasing number of volunteer5. Tany and Steve Bownd5 share one full-time role of overall leadership of the church and work of the charify. The Tru5tee5 meet on a Quarterly basis to receive reports on both the running of the building and the church and to give strategic leadershlp to the activities of the Trust. Trustees are Inducted by the Chalr of Trustees using the Charlty Commisslon's document-The Essential Trustee" and the Trust's Induction pack. Key partnerships for the Trust in 22-23 included.. Pioneer, a national network of churches, who provide spiritual support for the work of the church Daniel's Den, a Christian Charity who partner with us to provide a Parents and Toddler Group London City Mission who partner with us on outreach activities The building where the church meets was purcha*d by the Royal Borough of Kensington and Chelsea Council IRBKCI at the end of March 2022 and we continued to hold a full management lease as tenants of RBKC. The major risks to which the charity Is exposed, as identified by the trustees, have been reviewed, and systems or procedures have been established to manage those risks. 3. Objectives and Activities The main purposes of the Trust as set out in its Memorandum and Articles a￿ to.. Advance the Christian faith Relieve persons who are In conditions of need or hardship or aged or sick Promote and fulfil such other charitable purposes beneficial to the community 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 a5 the Tru5tee5 may think fit. 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 principle5 Outlined in published guidance have been met a5 follows, more detail is provided in the body of the report.. Principle l There must be an identifiable benefit or benefits it must be clear what the benefits a￿, they must be related to the alms and must be balanced against any detrlment or harm. The charity through its church services and activities, community activities and carelconcern 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 aim5, the opportunity must not be Un￿a$OnablY 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 young people/children. Where charges are made for community artivities these are set at a level such that people are not excluded {most activities are free). We have continued our vision to follow Je5U5, love all people make di5ciple5 in Ladbroke Grove throughout the vear. This has been a period of stabili5ing following Covid but a150 of preparing for significant change as RBKC are going to demolish the current building and rebuild with a new church, new homes and the Grenfell Stay and Play provlsion on the slte. This has meant that a number of our building usery moved to new premises durlng the year. We continue to be so grateful to God for his provision during this time and have been encouraged by the deepening and expanding relationships with one another. a) Church Key roles Tanya and Steve Bownds continue to take senior ￿sponSIbl11￿ for the church and charity as the Team Leaders, with Mary White as the third member of the core leadership team. From January 2023, Moji Ogunkanmi joined our leadership team to provide additional support while Nary took a sabbatical. We have a Leadership+ group which includes two others who contribute and provide insight Into leadership decisions without bearing the leadership responsibility. This year our racial Inclusion Working Group met a number of times to work on moving Latymer for4vards in becoming a church that Is fully representative of our wonderfully diverse local community at all levels of engagement. Whe￿ everyone is equally valued and we are actively anti-racist. Our values are to be biblical, evangelistic. prayerful, experimental and generous and these have been woven through our activities and events. Church ServI￿s We continue to meet together each Sunday and attendance averages around 30-35 people each week. Sermon series included Micah, Galatians and Philemon and exploring our theme of walking and talking with Jesus in 2022 and faith, hope and love in 2023. We had a joyful Easter and Christmas with plenty of opportunities for outreach. During the year it has been ￿allY positive to establish some new routines on Sundays including Kids, Church moving from monthly to fortnightly, monthly door-knocking after the Service. and a Shared lunch each month. We also enjoyed a lolnt servlce at Latymer with Llghthouse Communlty Church and a joint servlce wlth Notting Hlll Methodist church at their building. Discipleship Our Thursday night Discipleship Groups, with a meal followed by bible study, continued, and we have studied Luke, Ruth and Jonah. The Monday morning bible study has continued to work through bible books, and a new group for women who wanted Some bible teaching started in January. In addition we ran a couple of Forgivene55 course5, Alpha courses and Bereavement journey courses for small groups. Several women participated In-pe￿on and online in the Pioneer Women Leaders, Conference anL1 a number of people attended the Pioneer Leaders, Conference. We also benefitted from an away-day held jointly with two other Pioneer Churches. Prayer and Worship It has been encouraging to continue in regular prayer each week with a weekly prayer walk, prayer time for working people and the staff and leadership prayer time5. A new prayer activity was weekly 'Looking out" prayer times each Friday focussing on church and community, mission partners, healing and b￿akthroUgh and justice once each month. Increasing numbers of people have been involved In Sunday worship and monthly worship nights have continued. We have held a number of 2411 prayer sessions, each with a specific focus. Pastoral care A key part of our work continues to be pastoral care. Many of the beautiful people who are part of our community Struggle with poor physical and mental health, caring responsibilities, addiction and other issues. We work closely with people to support them in long-term challenging 51tuation5 and in times of crisi5. The Safeguarding Co-ordinators held monthly safeguarding meetings and we appreciate the support of thirtyone.'eight with Saf￿Uardi￿g issues. Racial Justice The working gmup met a number of times with a Focus on facilitating an Every Nation, Every Tribe, One People event to gather the views of global majorlty people as to thelr current and past experiences of Latymer and how we could improve in the future. We gathered useful feedback at the event in October and have worked on implementing some of the suggestions. Three people attended an Intercultural Church Conversation on worship and leadership, hosted by the Evangelical Alliance One People Commission online, and the World Christmas event felt like a significant step forward in our desire to become more inclusive and to honour other cultures. Mission Partnerships Following a review of our Missions Partners we have become much mofft connected in prayer with those that we support In the UK, Europe, Africa and around the world. Our mlssions givlng is wide ranglng Includlng supporting bible translation, work with young people and Muslims, missions flying and justice. In addition to the monthly prayer time, their wod( Is highlighted each week In the Sunday services and the￿'S a prayer guide with a different focus each week. The Pioneer Network continue5 to be a key partnership for us, with the Church Leaders participating in Pioneer Pathway and support provided from other leaders within the network. The T￿ether for God network has been Increasingly actlve and supportlve In this season and we have growlng relationships with other local church leadery. Our official partnership with Eden came to an end in summer 2022 as It wasn't the right time to recruit another Eden Team Leader. The partnership has played a major role in growing the church to a place where we are confident to continue working wilh children and young people with church members and we a￿ grateful for all those that have invested over the time of the partnership. A renewed partnership with London City Mission led to us having a missionary one day a week supporting our church members to grow In evangelistic oUt￿aCh. Youth and Chlldren's Work OUt￿aCh lo children included a new group, Bookchat, which met in the residents, room of Silchester Estate, and included Bookchat Pairs where individual children had a 20-minute slot ￿adIng tolwith a volunteer and Bookchat Adventure where two groups listened to a story t￿ether, read by a volunteer. It Wa5 great to recruit two volunteers from our wider community, to be in a venue on the estate and reach some new familie5. Daniel's Den Toddler Group continued and around eight famllles regularly connect through It. Kids, Church, a high energy service for children including songs, games, crafts, challenges ancl prayer, moved from monthly to fortnightly and a core group of around six chIld￿n has been growing. It has been encouraging to have a number of volunteers in the team. It was good to join with the main church service and the children's parents for our Christmas service. Community Outreach Our community work is co-ordlnated by the part-tlme Church and Communlty Development Worker, Mary WhSte, and supported by volunteers. Following a review, Time for Tea stopped and re-launched as Communi-tea with a small team of volunteer5, and outreach taking place outside the building during the session. This group has been really successful in drawing people in and creating relationships. Summer 2022 was the first one since Covid restrictions fully lifted and we made the most of it, and having a new Community Outreach Volunteer on the team, by havlng a jazz night, picnic in the park, visit to London Zoo, and coach trip to Southend. In the autumn we also had a number of one-off events including visiting Kew Gardens, another jazz night and a Communi-free event where people could give or take small items, eat together and see a recycled art exhibition by a church member. From mid-january. Mary took a three-month sabbatical which included visiting Christchurch, New Zealand with Churchill Fellowship to look at their community re5pon5e to the earthquakes of 2010-11. Volunteer5 stepped up to cover the regular activities and we pau*d bigger events. Our partnership with a local organisation, The Space, to provlde a Warm Welcome and for them to run their foodbank was fantastic. It bmught approximately 80 people to the building each week and gave us an opportunity to connect with The Space as an organization and a number of local people who haven't used our building before. Grenfell June 2022 was the fifth anniversary of the Grenfell Tower fire and church leaders represented Latymer at the Westminster Abbey service, the service at the base of the Tower organized by Grenfell United and a Lancaster West event. The Billy Graham Cri515 Response team came to 5UPPOrt us, with the church being open all day, and we had a steady number of people coming for chats and to pray and reflect. A good number of Latymer people also participated in the Silent Walk. b) Building Thls has been a challenging perlod In terms of our building. Followlng the Royal Borough of Kenslngton & Chelsea IRBKCI purchasing the church building from Livability at the end of March 2022 as part of the plans for the re- development of the site, we were expecting to need to Vacate the site in the firyt quarter of 2023 to allow demolition to commence. However, a number of factors meant this timeline kept slipping. We decided before the year end thal we needed to set our own deadline for vacating as it was unsettling for everyone to be unclear as to when we were moving, and the building costs were becoming 1￿c￿as1ng1¥ unaffordable with the ￿ductIon in u5er5, maintenance issues and higher energy cost5 all playing a part. We reduced costs wherever we could but we Still needed to make our Operations Manager fftdundant at the end of 2022. Our ￿mainIng users are due to finish by 3151 July 2023 and we will move tempornrily to Notting Hill Methodist Church on I" September. During the year, the Ethiopian Women's Empowerment Group, Brazilian Church and Sunrise Church moved to other premises, whilst the 240 Project. Congalese Church, Georgian Supplementary School and ￿ghthoUse Community Church office have remained. We a150 gained two new users - Kensington Wellnes5 and an individual who is running charitable clothing distribution Service. Our pricing Structure reflects our desire to advance the Christian faith and to fulfil charitable purposes, as Christian and charitable groups benefit fmm lower hire rates. ¢) A¢hlevements and Pertorman¢e We continue to be grateful to God for sustsining Latymer through this time. We celebrate: The new people stepping into leadership and volunteering roles The work done by the wort(Ing group towards being a more inclusive church The increasing range of outreach activities and the growth in frequency of Kids, Church The opportunities to partner with other organisations such a5 London City Mission. The spa￿ and Silchester Residents A550Clation The continued provision of resources to sustsin the work of the church and its activities d) Flnan¢lal Revlew Due to the changes in timeline on moving out of the building, and the additional maintenance and utilities costs incurred, we spent beyond what we had originally budgeted in relation to the building. However, we had less expenditu￿ on the church side than we had budgeted. The unrestricted ￿serveS policy target is £62,600, which is eouivalent tts 3 months. expenditu￿, plus £7,000 for boiler repair and a big piece of unplanned work totaling £69,600. We finished the year with £161,036, whlch amounts to a variation of £98,436 from the policy,. however, £1,841 Is restrirted. We continued to use our remaining funds funds held from 2017118 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" for community activities that were freely vailable to all. We used the ￿MainIng funding from a local fund, Neighbourhood Communlty Infrastructure Levy INCILI, towards front-line staff time supporting Inijividuals in our ward, Including those who are vulnerable. Our local Councillo agreed a change of purpose allowing us to use the £2,000 City Living Local Life funding we received from them to pay for our coach trip to Southend, enabling us to take two coaches full of local people from our community. The London Community Foundation offered us £1,500 for youth and children's work which due to our changing timeline for moving out of the building we have yet to use. We also took special collections for London Music Fund, Open Doors, Refugee Council, Toilet Twinning and Youth for Christ whlch we passed onto them. The Trustees continued in their financial management duties which Include.. regular review of the budget and spending at each Trustees meeting review and maintenance of the formal reseNes policy that covers both the management of the building and the functioning of the church. The level and appropriateness of these reserves is reviewed before the start of each financial year continued implementation of the financial controls policy The charity's principal Income sources are.. room and office hire flat rent letting of car park spaces funding and grants from Trusts Individual giving by Church members giving from other individua15 towards the work of the Church and Eden Ladbroke Grove The major risks during this time continued to be redU￿d Income from decreased building and car park use following the sale and proposed re-development of the building and implications for staff, activities, user5 and the community. Careful financial planning from previous year5 mean5 we had more in re5erve5 than our policy requires and the income coming into the church through tithes, giving and funding remained stable throughout. The Trust's expenditure has advanced the Christian falth by providlng activities and resources to encourage people in their faith journey. The provision of community activities, has been beneficial to local people. The Trust maintains the Latymer building as a resource and does not hold material investments. e) Plans for the Future The key work for 2023124 Is transltlonlng from our current buildlng to a temporary base at Notting Hill Methodist Church. We will have to make the remaining building-related staff Icaretaker and contracted cleaner) redundant and selllgive away the majority of our assets. We are committed to doing everything we can to help Latymer people make this change which Includes a new service time of 5pm on Sundays. We are excited by the opportunities that this new season will bring as the building ha5 been an increasing drain on time and resources. We are looking forward to growing and deepening our relationships with tho* we already know, but also getting to know new people who don't know Jesus yet. We are keen to see the church become ever mo representative or the I￿81 communlty and are looking at how we move forward the work started by the Working Group. In leaving our building, we plan to Increase our partnership working with other local groups and oryanisations as we become even more visible in the community. LATYMER CHRisllAN FELLOWSHIP TRtJST (A C014PAP4Y LIPIITED BY GUARAprrEE) REPORT OF THE OIRECtORS IC4Jnt?nvedl FOR THE YEAR ENDED 31sr MARCN 2023 Statement of DlrertQW5' Raspon&￿Ill1es.' 7he Att dnd the Comoanies Act requirE ibe 8￿rd of TrL(Stees to prÈpare finG￿n0￿4 statements for each financial year which yive I me and fair view of State of afri[5 of the char]ry aq ai the end of rho finanual year and pf thE surplus Qr dehot of the charty. Fn wepaTrllg thw fjnarbtial ststetnonts the ￿3[￿ ￿S req￿￿￿ to :_ sele￿ suitablL' attOunbn9 pol Cies ènd then thern con515rently". makè judgements and e50m3￿ that are rtsagjnable prudeni. prepare thE finanDal Siatcrnents on the going COn￿M basis ￿nIe$S it IS Inappropnate to pr￿urrLe thai tne thary Will contynUQ In busiAèS5,- state whcther 3pplicable accounknng thndarus and YAiL'ments of rr.¢OmmeDded pTrctce have becn fn4aow￿d subject LO any mrirenal departurFS dI5d0￿ and oxpLiinTrJ In thc fillancial statemer,ts. The Director5 are also responsible for 1ndints￿n1ng adwuaie dfWUllJng IEcord5 which disdttse wth reason4LTrlE accuracy at any time Erie fiiidnoal DDSitson af tbe cianty arid which aio S￿rrIc1￿￿t 5hoYd ajid ￿P1A1￿ Ihe thanty's tran￿(tranS endble them Qhsure -1 iaf finanoal £tarements Com0￿ wrth tho Companies Art 2006 and comply with rEgulaknons modc under the charrtI￿ Act. They Igo @%Mnsible for ￿Feguara￿Tr9 the assets of the ¢hèrity and hcnrp for tskiTrg ￿&Sonable sreps fDr the prevcnbon detectyon of ond other ITegulantes. The DIrett￿ aré re%ponsiDI@ for the contents of tbo. Direttot5' re￿0 thc ￿￿￿n￿billtY of the Independent exdminer.:I JatiTrn to the DI￿Or$, report IS to examjnjng rEPDrt and ETrsunng that on the face of the report there arc no IpconsiStEllaC5 w.'th the figur* di5d05ed In the frnanaal ststetnonts. These accourts have been piepbrLQ In accoryJaDEe wth prDW90Tr5 aDpIltsb￿ to Companies sub)ett to the smau COmpanFes regime. l approve the ejttached statemenr of finanaal actyVjts￿ ènd b3￿ncE thert for the yoar ended 31* March 2023, and th& I have made availab￿ all infoffn4tDn necessary for ts prEpaTrtson. Approved by Trrettors 18 *¥￿￿- 2023 Si9ned on their behaK t Print Name." S.BiANCHFLOWER io LATYMER CHRISTIAN FELLOWSHIP TRUST {A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITY FOR THE YEAR ENDED 31ST MARCH 2023 Unrestrlcted Funds Deslgnated Funds Restrlcted Funds TOTAL 2022123 TOTAL 2021122 Note$ INCOME FROM: Donatlons & Legacles 3a 48,897 20,343 620 69,860 68,624 Tradlng Actlvlty 3b 57,734 57,734 88,861 Investments 3¢ 367 397 764 416 Charltable Actlvities 3d 648 21 2,038 2,707 21,746 other Income 3e TOTAL INCOME 131 065 179 647 EXPENDITURE ON: Charitable Activities 57,070 74,477 6,479 138,026 140,312 Ra15ing Funds 4b 67,554 67,554 51,661 Governance Costs 4c 6,689 6,689 7,708 TOTAL EXPENDITURE 212 269 199 681 NET INCOMEI{EXPENDITURE) 17,158) {70,2251 13,821) 181,2041 {20,034) Transfer Between Funds NET MOVEMENT IN FUNDS 17,158) {70,2251 13,821) 181,2041 {20,034) RECONCILIATION OF FUNDS.. Total Funds Brought Forward 207,726 28,852 5,662 242,240 262,274 TOTAL FUNDS CARRIED FORWARD 200 568 161 036 242 240 Novements on all ￿serVeS 3nd all recognlsed galns and losses 3re shown above. All the ch3rlty's operatlons a￿ classed 3$ The nrtes on pages 13 to 21 form part of these flnanclal statements. LA TYMER cHR￿IAN FELLOWSHIP TRusr {A COMPANY uMrrED BY GIJARANTEE) BALANCE SHEET AS AT 31SF MARC￿ 1023 CornFTry numfaer. 076506L8 Unrestrtted Designato the ft ￿￿￿2023 5￿gned on t￿lf behalf by Print Ilaffle. S.klL4NCHFLOWER 12 LATYMER CHRISTIAN FELLOWSHIP TRUST {A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS l¢ontlnued) FOR THE YEAR ENDED 31ST MARCH 2023 I. ACCOUNTING POLICIES Basis of Preparation The flnanclal statements have been prep?￿d under the hlstorlc31 cost convention wlth items recognlsed at cost or tr3nsattion value uTrle55 Otherwise stated in the relevaDt notes. The financial Statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charitie5 preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ire13nd IFRS1021 (effective l January 20191- Icharltleg SORP - FRS1021 and the Charltles Att 2011. The Charity meet5 the defiDition of a public benefit entity under FRS102. ksets and liabilities are initially recognised èt historical C05t unles5 Otherwise stated In the relevant accounting policy notes. Assessment of Golny Concern Preparation of the accounts 15 on a going concern basi5. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. Chan9e$ to prevlous accounts There have been changes to the previou5 accounts. Recognition of Income These 3re Included In the Statement of Financi31 Actlvitles ISOFAI when.. the charity become5 entitled to the Income,. It Is more likely than not that the trustees will receive the resour￿£., and the monetary valJe c8n be MeasU￿d wlth sufflcient ￿liabilItv. Offsetting There has been no offsetting of assets and liabilities, or income ind expenses, unless required or permitted by the FRS 102 SORP or FRS 102. Grants and Donatlons Grants and donations are only Included In the SOFA when the general Incoffle recognition criteria are met 15.10 to 5.12 FRS 102 SORPI. Tax Reclaims on Donation5 and Gift5 Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount ¢cOve￿d on donation is considered to be part of that gift and 15 treated a5 an addition to the $3tne fund 3S the initial donation unle55 the donor or the terms of the appeal have specified otherwise. Contrattual Intome and Performance Related Grants This 15 only Included in the SOFA once the charity has provided the related goods or services or met the perf0rrna￿￿ related conditions. Gifts in Kind Gits In kind for use by the charity are included in the SOFA as Income from donations when ￿ceiVable. Legacies Leg3cle$ 3re Included In the SOFA when ￿ceIpt Is prob3ble, that Is, when there has been grant of prob3te, the executors h3ve established that the￿ lo 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 Gtants The chanty ha5 not received government grants In the ￿pOrting period. Donated Servl¢e$ and F?¢llltles DoDated 5ervice5 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 8re consumed immedlately are ￿¢09Th1$ed as income With an eoJiv8lent amount ￿CognISed 8$ an expense under the appropriate heading in the SOFA. 13 ## **LATYMER CHRISTIAN FELLOWSHIP TRUST** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued)** ## **FOR THE YEAR ENDED 31ST MARCH 2023** ## **1. ACCOUNTING POLICIES (Continued)** ## **Volunteer Help** The value of any voluntary help received is not included in the accounts but is described in the Directors' annual report. ## **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 redundancy payments totalling £5,252 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. 14 ## **LATYMER CHRISTIAN FELLOWSHIP TRUST (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued)** ## **FOR THE YEAR ENDED 31ST MARCH 2023** ## **Taxation** The charity is exempt from tax on its charitable activities. ## **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-22|40,692|4,401|45,093| |Additions||-|-|-| |Disposals||-|-|-| |Cost at|31-Mar-23|**40,692**|**4,401**|**45,093**| |Depreciation|01-Apr-22|39,678|4,029|43,707| |Charge||553|372|925| |Disposals||-|-|-| |Depreciation at|31-Mar-23|**40,231**|**4,401**|**44,632**| |Net Book Value|31-Mar-23|**461**|**-**|**461**| |Net Book Value|31-Mar-22|**1,014**|**372**|**1,386**| The annual commitments under non-cancelling operating leases, capital commitments and contingent liabilities at 31st March 2023 are as follows: Quarterly rental lease payments of £1,312.50 as from January 2023. 15 ## **LATYMER CHRISTIAN FELLOWSHIP TRUST** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** ## **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
**c) Investments**
Interest
**d) Charitable Activities**
Community Activities
Grants
Grants - HMRC Job retention scheme
Sundry Income *|Unrestricted
Designated
Restricted
**Total**
**Total**
Funds
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
£
24,927
7,733
-
32,660
38,155
11,289
-
-
11,289
9,544
12,681
12,610
620
25,911
20,925
**48,897**
**20,343**
**620**
**69,860**
**68,624**
-
46,411
-
46,411
64,582
-
9,749
-
9,749
13,202
-
1,574
-
1,574
11,077
**-**
**57,734**
**-**
**57,734**
**88,861**
367
397
-
764
416
**367**
**397**
**-**
**764**
**416**
471
-
538
1,009
2,255
-
-
1,500
1,500
17,064
-
-
-
2,031
177
21
-
198
396
**648**
**21**
**2,038**
**2,707**
**21,746**| |---|---| 16 ## **LATYMER CHRISTIAN FELLOWSHIP TRUST** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** ## **4. EXPENDITURE ON:** |**a) Charitable Activities**
Advertising & Publicity
Children & Youth Work
Community Activities
Depreciation Expense
Discipleship Expenses
Doubtful Debt Provision
Eden Central Support
Evangelism
Gifts & Donations
Printing, Postage & Stationery
Staff Costs
**10**
Sundry Expenses
Sundry Expenses - Return of Unused Grant
Telephone Costs
Training Costs
Volunteer Costs
Website & IT Costs
**b) Raising Funds**
Building Improvement
Building Repairs & Maintenance
Centre Flat
Cleaning & Hygiene Costs
Council Tax
Equipment Maintenance
Electricity
Gas Costs
Rent
Service Charges
Sundry Fundraising Costs
Waste Collection
Water Costs
**c) Governance Costs**
Independent Examiners Fee
Insurance Costs
Legal & Professional Fees (incl bookkeeping fees)|Unrestricted
Designated
Restricted
**Total**
**Total**
Funds
Funds
Funds
**2022/23**
**2021/22**
£
£
£
£
£
30
-
-
30
57
-
-
-
-
64
878
64
4,794
5,736
3,512
553
372
-
925
928
3,494
-
-
3,494
5,635
-
-
-
-
334
-
750
-
750
1,500
706
720
-
1,426
1,167
2,331
4,948
593
7,872
8,296
817
404
-
1,221
1,684
44,196
64,069
1,057
109,322
106,369
242
-
35
277
231
-
-
-
-
5,000
344
1,215
-
1,559
1,405
2,401
-
-
2,401
1,851
546
-
-
546
15
532
1,935
-
2,467
2,264
**57,070**
**74,477**
**6,479**
**138,026**
**140,312**
-
-
-
-
1,020
-
7,929
-
7,929
3,367
-
1,270
-
1,270
115
-
17,640
-
17,640
15,777
-
1,061
-
1,061
1,022
-
4,271
-
4,271
7,951
-
7,321
-
7,321
994
-
13,399
-
13,399
6,403
-
11,688
-
11,688
10,263
-
-
-
-
575
-
180
-
180
468
-
1,473
-
1,473
1,411
-
1,322
-
1,322
2,295
**-**
**67,554**
**-**
**67,554**
**51,661**
-
1,740
-
1,740
1,800
-
585
-
585
2,236
-
4,364
-
4,364
3,672
**-**
**6,689**
**-**
**6,689**
**7,708**| |---|---| 17 ## **LATYMER CHRISTIAN FELLOWSHIP TRUST** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** ## **5. DESIGNATED FUNDS** |Church Buildings/Ops
Eden
Leaders Salaries
10% Fund
Church Buildings/Ops
Eden
Leaders Salaries|**Balance**
**Balance**
**01-Apr-22**
Income
Expenditure
Transfers
**31-Mar-23**
£
£
£
£
£
16,386
58,151
(118,890)
-
(44,353)
1,120
1,369
(1,534)
-
955
11,346
12,052
(23,348)
-
50
-
6,923
(4,948)
-
1,975
**28,852**
**78,495**
**(148,720)**
**-**
**(41,373)**
**Balance**
**Balance**
**01-Apr-21**
Income
Expenditure
Transfers
**31-Mar-22**
£
£
£
£
£
32,553
91,154
(107,321)
-
16,386
-
2,730
(1,610)
-
1,120
-
12,160
(12,160)
11,346
11,346
**32,553**
**106,044**
**(121,091)**
**11,346**
**28,852**
**CURRENT FINANCIAL YEAR**
**PREVIOUS FINANCIAL YEAR**| |---|---| **Church Buildings** – We will be vacating the building on 31st August 2023 at which point this account will be merged with general church funds. The Charity's Designated funds are represented by the Charity's cash reserves, fixed assets and debtors and are to be expended as specified above. ## **6. RESTRICTED FUNDS** |Neighbourhood Community Infrastructure Levy
Ops - RBKC/City Living Local Life
Church - London Community Foundation
Church - London Music Fund
Church - Open Doors
Refugee Council
Toilet Twinning
Youth for Christ
Post Grenfell - Gifts for those affected by
the fire (BT Donate)|**Balance**
**Balance**
**01-Apr-22**
Income
Expenditure
Transfers
**31-Mar-23**
£
£
£
£
£
1,057
-
(1,057)
-
-
2,000
-
(2,000)
-
-
-
1,500
-
-
1,500
-
150
(150)
-
-
-
122
(122)
-
-
2,605
538
(2,828)
-
315
-
87
(87)
-
-
-
151
(125)
-
26
-
110
(110)
-
-
**5,662**
**2,658**
**(6,479)**
**-**
**1,841**
**CURRENT FINANCIAL YEAR**| |---|---| There were no transfers between funds in 2022/23. Neighbourhood Community Infrastructure Levy - for core salary costs for one to one support for community members Ops – RBKC/CLLL = for summer coach trip to Southend Church – LCF – carried forward for youth and children’s work Post Grenfell – support and activities for those affected by the fire 18 ## **LATYMER CHRISTIAN FELLOWSHIP TRUST** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** ## **6. RESTRICTED FUNDS (continued)** |40 TGH
Neighbourhood Community Infrastructure Levy
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
Church - Ukraine Appeal
Church - Technical Equipment
Post Grenfell - Gifts for those affected by the
fire (BT Donate)|**Balance**
**Balance**
**01-Apr-21**
**Income**
**Expenditure**
**Transfers**
**31-Mar-22**
£
£
£
£
£
11,379
-
(33)
(11,346)
-
-
12,080
(11,023)
-
1,057
-
-
-
-
5,000
-
(5,000)
-
-
2,000
1,561
(1,561)
-
2,000
-
-
-
-
-
-
-
-
147
-
(147)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
352
(352)
-
-
-
923
-
(923)
-
6,608
-
(4,003)
-
2,605
**25,134**
**14,916**
**(22,119)**
**(12,269)**
**5,662**
**PREVIOUS FINANCIAL YEAR**| |---|---| ## **Transfers between funds in 2021/22** The £11,346 transfer represents funds that have historically been set aside by the Trustees as a reserve to cover future service charge and repair liabilities, generated from rental income of the flat at Talbot Grove House. Since the flat was sold in this financial year, the reserves are no longer required and the Trustees agreed in May 2021 that the funds should released to cover Leaders’ salary costs. The £923 transfer represents the funds spent to purchase fixed assets in accordance with the terms of those funds. 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 2023** ## **7. CASH AT BANK AND IN HAND** |**General Accounts:**
Current
Deposit
Fixed Rate Deposit Account (1)
Fixed Rate Deposit Account (2)
Cash in Hand
Eden Current Account
**Church Buildings:**
Current
Deposit
Cash in Hand
**8. DEBTORS AND PREPAYMENTS**
Centre Bookings
Less Provision for Doubtful Debts
Gift Aid Tax Recoverable
Prepayments
**9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Independent Examiners Fee
Accrued Salary and Pension Costs
Other Accruals
Sundry Creditors
**10. STAFF COSTS AND NUMBERS**
Gross Wages and Salaries
Redundancy Costs
Employer's National Insurance Costs
Employers Allowance (2020/21: 3 years)
Pension Contributions
Backdated Pension Contributions
Staff DBS Checks|**31-Mar-23**
**£**
12,309
69,423
21,995
28,452
344
23,186
7,034
-
-
**162,743**
**31-Mar-23**
**£**
8,064
-
11,439
110
**19,613**
**31-Mar-23**
**£**
1,740
1,424
13,229
5,388
**21,781**
**2022/23**
**£**
97,139
5,252
8,261
(5,000)
3,178
188
304
**109,322**|**31-Mar-22**
**£**
18,508
123,867
21,776
28,056
156
23,392
28,691
2,460
446
**247,352**
**31-Mar-22**
**£**
4,045
(334)
9,544
2,967
**16,222**
**31-Mar-22**
**£**
1,800
2,515
9,791
8,614
**22,720**
**2021/22**
**£**
97,784
-
7,832
(4,000)
1,996
2,515
242
**106,369**| |---|---|---| The Charity operates a PAYE scheme to pay all employed members of staff and no employees received emoluments of over £60,000 (2021/22: None). 20 ## **LATYMER CHRISTIAN FELLOWSHIP TRUST** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2023** ## **10. STAFF COSTS AND NUMBERS (continued)** Average number of employees who were engaged in each of the following activities: |Activities in furtherance of organisation's objects|**2022/23**
4.75
**4.75**|**2021/22**
5
**5**| |---|---|---| The Church had 5 employees at the start of the period and 4 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 and employer pension contributions) of the key management personnel of the charity were £43,876 (2021/22: £39,908). ## **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 2023/31st March 2022|**2022/23**
**£**
(81,204)
-
**(81,204)**
242,240
**161,036**|**2021/22**
**£**
(20,034)
-
**(20,034)**
262,274
**242,240**| |---|---|---| ## **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 (2021/22: None.) ## **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