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2024-03-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

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 2023 END OF FINANCIAL YEAR 31st March 2024 DIRECTORS THAT SERVED DURING Simon Blanchflower THE YEAR TO 31ST MARCH 2024 Hazel Vinson Gillian Bedford Eman Bahgat Mahmoud Tawfik Yosry Jose Liste Ricardo Estee-Wale 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 240 Lancaster Road London W11 4AH 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

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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 2024.

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: 13 September 2024

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Annual Report 2023-2024

Latymer Christian Fellowship Trust Registered Charity Number 1142420 Company Registration Number 7650618 Memorandum and Articles dated 27 May 2011

1. Reference and Administrative details

Trustees: Simon Blanchflower Hazel Vinson Gillian Bedford Eman Bahgat Mahmoud Tawfik Yosry Ricardo Estee-Wale Jose Liste

Senior Staff Members : Steve and Tanya Bownds, Church Leaders

Church Leaders: Steve and Tanya Bownds Mary White Moji Ogunkanmi

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

Address: 116 Bramley Road, London, W10 6SU until 31 August 2023, then at Notting Hill Methodist Church, 240 Lancaster Road, London W11 4AH from 1 September 2023,

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[th] 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 a team of volunteers. Tanya and Steve Bownds share one 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 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 the Trust’s induction pack.

Key partnerships for the Trust in 23-24 included:

The building where the church meets was purchased by the Royal Borough of Kensington and Chelsea Council (RBKC) at the end of March 2022, and we continued to hold a full management lease as tenants of RBKC until 31 August 2023. The council plans to demolish the church building and rebuild a new church facility on the 116 Bramley Road church site, but this has been subject to delays. In view of increasing costs, issues with the building which was reaching end-of-life, and reduced income as users had moved on, the Trustees and Leadership Team took the decision to move to our temporary home at Notting Hill Methodist Church with effect from the beginning of September 2023.

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 are to:

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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.

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 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 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).

We have continued our vision to follow Jesus, love all people and make disciples in Ladbroke Grove throughout the year. It has been a year of major change as we celebrated the church’s 160 anniversary in August and moved out of the building. We were so encouraged by the joyful celebration of 160 years of ministry and by the participation of so many in our anniversary weekend. We continue to be very grateful to God for His provision during this time and have been encouraged by how our church members have adapted to a new location and some changes in timing to our weekly activities because of the move.

a) Church

Key roles

Tanya and Steve Bownds continue to take senior responsibility for the church and charity as the Team Leaders, with Mary White as the third member of the core leadership team. Moji Ogunkanmi had joined the core leadership team to provide additional support while Mary took a sabbatical which concluded at the end of April 2023, and we were delighted that Moji agreed to continue to be a member of the core leadership team. Tanya started maternity leave in March 2023 and Steve will be covering most of the aspects of her role whilst she is away from her job responsibilities. The two others who were part of our Leadership+ group, which provided perspectives into leadership decisions without bearing the leadership responsibility, both made the decision to step down at the end of August. In September we thanked them for their contribution and officially welcomed Moji onto the Leadership Team.

We continue to work towards Latymer becoming a church that is fully representative of our wonderfully diverse local community at all levels of engagement, where everyone is equally valued and we are actively anti-racist. It is therefore encouraging that our Trustees Board is comprised of three people whose heritage is from the global majority and three who are white British, and Moji is bringing much-valued diversity to our Leadership Team in addition to her leadership gifting.

The Trustees and Leadership Team had a very productive Away Day in October 2023 and set priorities for the next 1-3 years and beyond. Important areas for development include whole life discipleship, becoming truly intercultural and intergenerational and being out in the community more. We long to see healing and freedom with established prophetic and prayer rhythms, and increasingly want to be a prophetic and pastoral voice in the community, and particularly in relation to the Council. All this will be supported by being a healthy church financially, pastorally and organisationally.

Our values are to be biblical, evangelistic, prayerful, experimental and generous and these have been woven through our activities and events.

Church Services

We continue to meet together each Sunday, but the service time changed from 11am to 5pm as this is the time that was available at the Methodist Church. The change of time has suited some better than others, but we are really pleased that we haven’t lost any of our members in the move, although some attend more and others less at the new time. Attendance averages at 29 people each week. Sermon series have included studying Hebrews, Spiritual Disciplines, the fear of the Lord, Malachi, and 1 Peter 1 reflecting our themes of faith, hope and love in 2023 and living stones in 2024. We have enjoyed experimenting with different ways of hearing from God in our times on Sundays, including Simple Sundays where everyone is encouraged to listen to God in the week beforehand and share something, panel interviews and hearing the Bible in different versions and reflecting on it silently. One week a couple came with their Kingdom Outreach prophetic art, and it has also been great to hear from visiting speakers and an increasing number of our church members stepping up to preach. We had a wonderful Christmas and Easter with plenty of opportunities for outreach.

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It's always an absolute joy when people are baptised, and we celebrated a baptism in July. It has been really encouraging that Kids’ Church has sustained its fortnightly pattern, and there are now a small number of children who attend regularly. Relationships are building with the parents as well.

We had been doing monthly door-knocking after the service, but this has stopped. We do need to seek God about further outreach opportunities into our community.

Discipleship

Our Thursday night Discipleship Groups, with a meal followed by Bible study, continued, and we have studied Hebrews, Mark and Daniel as well as Bible passages appropriate to Easter and Christmas and an International Justice Mission series on justice. The Monday morning Bible study has continued to work through Bible books.

In January 16 people from Latymer benefitted from a weekend away which focused on the theme of identity, held jointly with two other Pioneer churches, and four people attended the Pioneer Leaders’ Conference which celebrated forty years of the Pioneer Network.

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 times. Increasing numbers of people have been involved in Sunday worship and a Worship Day was held for people involved in leading worship. We have held a number of 24/1 prayer sessions, each with a specific focus. It was especially encouraging to see a good number of people participate in a 24/1 prayer and fasting time at the beginning of 2024 and that a new monthly group for prophetic prayer has begun.

160 Anniversary Weekend

This was a major event in the life of the church and was a joyful weekend which reached hundreds of people, both current church and community members and those who had been part of the Latymer story in the past. We started the weekend with a Prayer Breakfast with food from different cultures and prayers of thanksgiving for all that God has done and continues to do at Latymer. The afternoon saw hundreds of local people come to enjoy afternoon tea, craft and other activities and games for children. A small group of diverse church members had worked hard to plan and prepare a Celebration Dinner Event with delicious food and encouraging stories of how God has been at work in people’s lives through Latymer. On Sunday we enjoyed a Big Breakfast service with a gospel message and more food and thanksgiving. The whole weekend was awesome!

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 situations and in times of crisis.

The Safeguarding Co-ordinators hold monthly safeguarding meetings looking at the bigger picture of safeguarding and we appreciate the support of thirtyone:eight with safeguarding issues. In September we thoroughly reviewed and updated our Safeguarding Policy and practice guidelines, and our Safeguarding Trustee came to conduct a Safeguarding audit with the Co-ordinators. Whilst there is always scope for learning, we were pleased that the audit showed that there weren’t any major areas for improvement needed.

Racial Justice

Working towards a truly intercultural and actively anti-racist church remains an important priority for the Leadership Team. The combination of Mary’s sabbatical, and the substantial amount of work needed to host the 160 Celebration Weekend and move out of the old building meant that the racial justice Working Group paused regular meetings but we did celebrate our diversity at a special service in the summer and we have now started reading “Healing the Divides” by Jason Roach and Jessamin Birdsall together with the Leadership Team and this is proving fruitful. We are recording who is involved in leading services and whether we include songs that aren’t in English on Sundays. A comparison of our church members’ ethnicity with the Census data of the ward shows that we are broadly reflective of our community. This exercise did highlight that the move of service time disproportionately affects those from the global majority, and we are seeking to address this with a monthly Sunday morning discipleship group.

Mission Partnerships

We have become much more connected in prayer with those that we support in the UK, Europe, Africa and around the world with a monthly prayer guide focussing on a different mission partner each week and a short verbal update each Sunday. Our missions giving is wide-ranging including supporting Bible translation, work with young people and Muslims, and justice. Our Mission Aviation partner retired during the year, and we have added a partnership with a London City Mission (LCM) missionary who works with their project for homeless people in Waterloo. As we have several church members who have experienced homelessness, we hope that this will enable them to engage increasingly with missions.

The Pioneer Network continues to be a key partnership for us, with the Church Leaders completing the Pioneer Pathway course and support provided from other leaders within the network, especially within the Pioneer London region.

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The Together for God network has been increasingly active and supportive in this season, and we have growing relationships with other local church leaders.

It was encouraging that the ministry partnership with LCM for us to have a missionary one day a week supporting our church members to grow in evangelistic outreach worked exactly as hoped in that we felt confident to bring it to a close in May 2023 as we had grown in confidence in door-knocking.

Youth and Children’s Work

Daniel’s Den Toddler Group continued until we left the Latymer building and eight families regularly connected through it.

Kids’ Church, a high energy service for children including songs, games, crafts, challenges and prayer, continues to meet fortnightly and a core group of around six children has been growing. It has been encouraging to have several volunteers in the team. It was good to have all-age worship at both Christmas and Palm Sunday and for the children’s parents to participate.

Community Outreach

Our community work is co-ordinated by the part-time Church and Community Development Worker, Mary White, and supported by volunteers.

Communi-tea, a community group with drinks and craft activities, ran throughout the year, and moved to a new time in the Methodist Church to coincide with the Foodbank in order to draw people in. The group has a small number of regular participants and work is ongoing on building new relationships.

One-off events have happened throughout the year, with the highlight being the 160 Celebration Weekend. We also enjoyed a trip to Southend, visits to Kew Gardens, two Jazz Nights and a pantomime, as well as a Ceilidh, which was a new event for us.

Grenfell

14 June 2023 was the sixth anniversary of the Grenfell Tower fire, and we hosted a local artist’s exhibition of the portraits of those who had died in the fire and were open for people to come for a chat and to pray and reflect. A good number of Latymer people also participated in the Silent Walk.

b) Building

We are so grateful to God for the management lease of the Latymer Community Church building at 116 Bramley Road as the building had enabled us to love and serve the community in so many ways over so many years. However, the combination of increasing costs, diminishing income and building issues such as the central heating being erratic and costly and the roof leaking, meant that it was a very wise decision to hand it back on 31 August even though the council had not finalised their plans for redeveloping the site. The remaining users of the building all made new arrangements for office and room hire and we were glad that the 240 Project with whom we share a close relationship also moved to the Methodist Church. Right up until the building users had to leave our pricing structure reflected our desire to advance the Christian faith and to fulfil charitable purposes, as Christian and charitable groups benefitted from lower hire rates.

Moving from a building with six offices, five meeting spaces and numerous cupboards to one office was a considerable logistical challenge. The combination of most of our items being low-value and aging, storage being very expensive in London, the uncertainty of how long we would be without a building, and wanting to make a fresh start when we move into the new building, meant that we decided not to store anything.

We did our utmost, given the time constraints of leaving the building less than a month after our final large event, to maximise the financial and charitable benefit from our assets. Items of greater value were promoted on ebay for sale at commercial rates, and we offered other items to Christian organisations and other local charities and asked for contributions for them. Twenty five other charitable and Christian groups benefitted from items and we also raised £2,965 from the sale of our assets.

We were very pleased that the council said that ours was the best handover that they had ever had; we wanted to honour God by leaving the building in the best possible way.

c) Achievements and Performance

We continue to be grateful to God for sustaining Latymer at this time of significant change. We celebrate:

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d) Financial Review

Due to additional income of £18,000 and an underspend of £9,000, we were under budget for the church by £27,000 at year end, although this still reflected an annual deficit of £14,000. We moved out of the building during the year and have now closed the Building/Operations account and the deficit of £50,000 that had accrued in that account has been transferred to the church account. The sale of equipment from the old building raised £2,965 that will be kept in a designated fund for new equipment when we return to the building.

The unrestricted reserves policy target is £50,000, which is equivalent to 3 months’ expenditure (£30,000), plus £20,000 for when we move back into the building. We finished the year with £137,060, which amounts to a variation of £87,060 from the policy.

We spent the remainder of funds held from 2017/18 from our BT Donate fundraising page, which were 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 available to all. We received money from City Living Local Life, which we used for a coach trip to Southend, enabling us to take a full coach of people from our community.

We had a special collection for Crisis (the homeless charity) which raised £369, which we added £200 to, enabling us to donate £569 to Crisis.

We celebrated 160 years of Latymer’s presence and engagement with the local community and received money from Kensington and Chelsea Community Sprit Fund, Tudor Trust and Westway Trust towards our celebrations. We also used some of the London Community Foundation funding for children’s activities during this celebration. We celebrated with around 500 people from our local community across one weekend of activities.

Through our church, we are giving money to Transform Europe Network (TEN) to support a bible college student in Eastern Europe.

We will use the remaining toilet twinning funds once we have enough to pay for another toilet.

We will carry forward the remaining London Community Foundation funding to use for children’s work in the coming years.

The Trustees continued in their financial management duties which include:

Until the end of August 2023 the charity’s principal income sources were:

From September 2023 the charity’s principal income sources were:

The major risks during this time were transitioning from the Latymer building to the Notting Hill Methodist Church building, changing our activities, possible income sources and location which has implications for all aspects of the work and life of Latymer Community Church. Careful financial planning from previous years means we had more in reserves than our policy requires and we worked to increase the income coming into the church through tithes and giving including reviewing those giving by gift aid.

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, has been beneficial to local people.

Until August 2023 the Trust maintained the Latymer building as a resource and throughout, has not held material investments.

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e} Plans forthe Futwe Followiw the Succe￿ traEl911￿ to Pk>th"ThJ Hill mett￿ thurth for thls season we are exrjted by what God wlll Llo whilstwe are wÈthout Our￿4￿ bwk1l￿J. WÈ are keen to use thb to be I[￿rEaS￿￿ out community a ftcus on suprx)rting other Ictsl leader5 6nd gr￿wi￿ partner5hip5 with other oryani5abons and building bridges into the Council to bring atx)ut transf(ThiatK>n there. The-PSealing the divides- group has rnade a good start, and we are Commit￿ to continuing our jOuff￿Y to becthn5ng a mDrÈ Irter-¢￿1jj[￿l and anti-rac& church. We want to be InLreasirvJly prayerful and prophetk ￿ that all ￿ pla￿ we ￿ line with how God is at ¥￿rk bn our r¢ighbwrho(M1. The Charities Art and the C¢ynpanies Att require the E•Jard of TrLLStees to prepaye fiwKW ststern￿ ftr each flnanoal yw whith give a trye and fair of the state of affaiTS of the chartty a5 at the WKI of the financsal year of the surplus or defiiit of the d￿rity. In weparing finarKial ststements the Eoard is ko :_ select suitable accountlThJ polÉoe5 aThY then apply them consistentry: prepare finanaal statÈm•ts ry) the ￿IEVj cOr￿￿n basts it is inapwopriate tD that the tha￿ty Thllll conbnLE in bUs1r￿ss. state whether appI[cab￿ acwJnlirwJ Sta￿lardS arKI slatem¥ts of recommended been followed subJe(t to any material departure5 di5c105ed and ewained tn the finandal st&ements. The Dir&tor5 are also respon￿ble for maiftssning adequate ac£ount1￿ ￿or(l$ whth dix105e with reasonable ccuraq at any tin the financial posibon of the d￿rity which are sufficiert to show and explain the charity'5 trarsactions and enatAe them tD etsure thot the financial statements compty with the Cofnpanies Act 2006 and comply vlith regulations mwje undw the charl￿e$ Att. Tlw are al￿ r￿nSIble for safeguardifig the assets of the charity a￿1 herKe for taku¥J reasonable for the a¥J +Jetthi of fvawl other irregUlar￿eS. The Directors are also respon￿ble for the Contents of the Di￿CtOr￿ ￿pYt, aTKI the re5￿￿51b11ity of the independent examiner in rplati￿ to IIE Dir2ctsT5' re￿t ig limited to examin¢ng the tEPJrt and ensumg that on the ts￿ of the report there are no Inconsister￿leS with the figures dIsth)s￿l sn the fqlancial ststements. These a￿OUnts have been prepar&J in aCcCKdo￿e wlth tr [Kovts1￿5 èppllcable to companles subjett to lthe small CoMpan￿S regirr. l approve the attached statement of financial athft￿s arKI ba￿a￿e sheet for year ended 31st 14arth 2024. and tonfir¥n I have made awailable aH Inforn￿ ressary for its Fryjaration. Approved by the Thrwrs on the If S¢pknW24 Sl9ned on UEir Lthlf Prirt Name: S.8LANCHFLOWER 10

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31ST MARCH 2024

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
2023/24
2022/23
£
£
£
£
£
57,399
22,442
1,019
80,860
69,860
-
24,830
-
24,830
57,734
2,516
52
-
2,568
764
4,079
3,460
3,710
11,249
2,707
-
-
-
-
-
63,994
50,784
4,729
119,507
131,065
65,631
29,465
5,326
100,422
138,026
6,771
21,934
-
28,705
67,554
6,110
3,196
-
9,306
6,689
78,512
54,595
5,326
138,433
212,269
(14,518)
(3,811)
(597)
(18,926)
(81,204)
(48,990)
48,990
-
-
-
(63,508)
45,179
(597)
(18,926)
(81,204)
200,568
(41,373)
1,841
161,036
242,240
137,060
3,806
1,244
142,110
161,036

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.

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A5 AT 31ST MARCH 2024 T•l•l 31-M-24 31-MaTr23 Ixed Assi8 Tanfjibk Assets 461 Detst0￿ & ￿Payme￿5 Cash at Bank and in H L5.744 147 426 163.170 19,613 162 743 181356 131.640 144 19 17AIY Credltors: due ￿in one year 7.459 13.601 21.060 21.781 137.060 1.244 142.110 160,575 137 L244 144110 16L036 137 1.244 110 16L036 Funds Dfthe Chity General Fvtkls l)e5ignated Funds 137.060 137 3.806 1.244 200,568 141.3731 1.841 1.244 14 iio 16 036 Approved bYthel&ur5L￿the I I . CYI 2024 gn&1 on th* beha￿ by 12

LATYMER CHRISTIAN FELLOWSHIP TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

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 2019) - (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.

Changes to previous accounts

There have been no changes to the previous accounts.

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 not 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.

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LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31ST MARCH 2024

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 £1,792 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 2024

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-23 40,692 4,401 45,093
Additions - - -
Disposals (35,780) (4,401) (40,181)
Cost at 31-Mar-24 4,912 - 4,912
Depreciation 01-Apr-23 40,231 4,401 44,632
Charge - - -
Disposals (35,319) (4,401) (39,720)
Depreciation at 31-Mar-24 4,912 - 4,912
Net Book Value 31-Mar-24 - - -
Net Book Value 31-Mar-23 461 - 461

The annual commitments under non-cancelling operating leases, capital commitments and contingent liabilities at 31st March 2024 are as follows:

Monthly rental payments of £900 as from September 2023.

15

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

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
Sundry Income
Gain on disposal		 Unrestricted
Designated
Restricted
Total
Total
Funds
Funds
Funds
2023/24
2022/23
£
£
£
£
£
34,228
19,500
-
53,728
32,660
11,136
2,775
-
13,911
11,289
12,035
167
1,019
13,221
25,911
57,399
22,442
1,019
80,860
69,860
-
18,128
-
18,128
46,411
-
5,911
-
5,911
9,749
-
791
-
791
1,574
-
24,830
-
24,830
57,734
2,516
52
-
2,568
764
2,516
52
-
2,568
764
1,370
-
-
1,370
1,009
2,000
-
3,710
5,710
1,500
709
23
-
732
198
-
3,437
-
3,437
-
4,079
3,460
3,710
11,249
2,707

16

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

4. EXPENDITURE ON:

a) Charitable Activities
Advertising & Publicity
Community Activities
Depreciation Expense
Discipleship Expenses
Eden Central Support
Evangelism
Gifts & Donations
Printing, Postage & Stationery
Staff Costs
10
Sundry Expenses
Telephone Costs
Training Costs
Volunteer Costs
Website & IT Costs
b) Raising Funds
Building Repairs & Maintenance
Centre Flat
Cleaning & Hygiene Costs
Council Tax
Equipment Maintenance
Electricity
Gas Costs
Loss on disposal
Rent
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
2023/24
2022/23
£
£
£
£
£
87
-
-
87
30
2,210
1
4,167
6,378
5,736
-
-
-
-
925
3,838
-
-
3,838
3,494
-
-
-
-
750
326
-
-
326
1,426
-
9,084
1,159
10,243
7,872
1,266
-
-
1,266
1,221
55,275
18,991
-
74,266
109,322
440
21
-
461
277
237
623
-
860
1,559
502
-
-
502
2,401
-
-
-
-
546
1,450
745
-
2,195
2,467
65,631
29,465
5,326
100,422
138,026
10
1,779
-
1,789
7,929
-
275
-
275
1,270
-
9,919
-
9,919
17,640
-
359
-
359
1,061
-
213
-
213
4,271
-
3,463
-
3,463
7,321
-
1,812
-
1,812
13,399
461
-
-
461
-
6,300
2,188
-
8,488
11,688
-
466
-
466
180
-
788
-
788
1,473
-
672
-
672
1,322
6,771
21,934
-
28,705
67,554
1,770
-
-
1,770
1,740
299
274
-
573
585
4,041
2,922
-
6,963
4,364
6,110
3,196
-
9,306
6,689

17

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

5. DESIGNATED FUNDS

CURRENT FINANCIAL YEAR

Church Buildings/Ops
Building Equipment
Eden
Leaders Salaries
10% Fund
Church Buildings/Ops
Eden
Leaders Salaries
10% Fund		 Balance
Balance
01-Apr-23
Income
Expenditure
Transfers
31-Mar-24
£
£
£
£
£
(44,353)
24,905
(30,946)
50,394
-
-
3,437
(472)
-
2,965
955
450
(1)
(1,404)
-
50
14,042
(14,092)
-
-
1,975
7,950
(9,084)
-
841
(41,373)
50,784
(54,595)
48,990
3,806
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)
PREVIOUS FINANCIAL YEAR

Purpose of funds

Church Buildings = we vacated the building on 31st August 2023 at which point this account was merged with general church funds. Leaders Salaries = to track funds specifically for leaders salaries

Eden = now merged with unrestricted funds

10% Fund = to ensure that 10% of all income is given to other charities or individuals outside of the Latymer Fellowship Trust

Transfers between funds

The transfer between funds represents the merging of the fund with general church funds following the premises being vacated.

The Charity's Designated funds are represented by the Charity's cash reserves, debtors and creditors as detailed below.

Fixed Assets
Cash at Bank
Debtors
Creditors		 31-Mar-24
£
-
14,542
2,865
(13,601)
3,806

18

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

6. RESTRICTED FUNDS

----- Start of picture text -----
CURRENT FINANCIAL YEAR
Balance Balance
01-Apr-23 Income Expenditure Transfers 31-Mar-24
£ £ £ £ £
Ops - RBKC/City Living Local Life - 1,440 (997) - 443
Church - Crisis - 369 (369) - -
Church - Community Spirit - 1,000 (1,000) - -
Church - London Community Foundation 1,500 - (585) - 915
Church -Westway Trust - 1,270 (1,270) - -
Church - Transform Europe Network (TEN) - 650 (790) - (140)
Post Grenfell - Gifts for those affected by the fire
(BT Donate) 315 - (315) - -
Toilet Twinning 26 - - - 26
1,841 4,729 (5,326) - 1,244
PREVIOUS FINANCIAL YEAR
Balance Balance
01-Apr-22 Income Expenditure Transfers 01-Apr-23
£ £ £ £ £
Neighbourhood Community Infrastructure Levy 1,057 - (1,057) - -
Ops - RBKC/City Living Local Life 2,000 - (2,000) - -
Church - London Community Foundation - 1,500 - - 1,500
Church - London Music Fund - 150 (150) - -
Church - Open Doors - 122 (122) - -
Post Grenfell - Gifts for those affected by the fire 2,605 538 (2,828) - 315
(BT Donate)
Refugee Council - 87 (87) - -
Toilet Twinning - 151 (125) - 26
Youth for Christ - 110 (110) - -
5,662 2,658 (6,479) - 1,841
----- End of picture text -----

Purpose of funds

City Living Local Life = for coach trip to Southend for people from our community

Crisis = funds raised forwarded to Crisis homeless charity

Kensington and Chelsea Community Spirit Fund = for the community to come together to celebrate 160 years of Latymer’s presence and engagement with the local community

London Community Foundation = for children and youth activities we used part of this for children’s activities at the 160 years of Latymer’s presence and engagement with the local community

Westway Trust = for the community to come together to celebrate 160 years of Latymer’s presence and engagement with the local community

TEN = to support a bible college student in Eastern Europe

Toilet Twining = for building toilets in areas without proper toilet facilites

Transfers between funds

There were no transfers between funds in 2023/24 or 2022/23.

The Charity's Restricted funds are represented by the Charity's cash reserves as detailed below.

31-Mar-24 £ Cash at Bank 1,244 1,244

19

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

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
8. DEBTORS AND PREPAYMENTS
Centre Bookings
HMRC SMP/SPP Recoverable
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
Pension Contributions
Backdated Pension Contributions
SMP/SPP Recovered
Staff DBS Checks		 31-Mar-24
£
6,541
81,438
22,657
28,711
298
1,286
6,495
147,426
31-Mar-24
£
-
1,743
14,001
-
15,744
31-Mar-24
£
1,770
1,566
15,669
2,055
21,060
2023/24
£
70,954
1,792
5,635
(5,000)
2,457
-
(1,743)
171
74,266		 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

The Charity operates a PAYE scheme to pay all employed members of staff and no employees received emoluments of over £60,000 (2022/23: None).

20

LATYMER CHRISTIAN FELLOWSHIP TRUST

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MARCH 2024

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 2023/24
3.41
3.41		 2022/23
4.75
4.75

The Church had 4 employees at the start of the period and 3 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 £45,913 (2022/23: £43,876).

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 2024/31st March 2023		 2023/24
£
(18,926)
-
(18,926)
161,036
142,110		 2022/23
£
(81,204)
-
(81,204)
242,240
161,036

12. PAYMENTS TO DIRECTORS AND RELATED PARTIES

In this financial year, the church paid £125 for a Trustee to attend a church weekend away. It also gave a gift of £300 to the daughter of a trustee to help with baby supplies as she had a multiple birth. This gift was not associated with the person’s role as a Trustee but was in accordance with a general approach to supporting church members (which the Trustee concerned is) in these type of circumstances.

No other 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 (2022/23: 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