2021-12-31-accounts

Contents
Pa e
	Information
4to9	Trustees' Annual Report
10	Independent Examiner's	Report tothe Trustees
	Statement ofFinancial Activities
12	Balance Sheet
13to 20	Notes tothe Accounts

Registered charity number		1147067
Other names charity is known	by	Light and Life Free Methodist			Church
Principal address		Light 5LifeCentre
		Water-ma-Trout	Industrial	Estate
		Kelston
		Cornwall
		TR13OLW
Chair ofthe Trustees &		Michael Bretton
Lead Pastor
Bankers		Lloyds Bank
		Market Place
		Penzance
		Cornwall
		TR182TN
Accountants		Lang Bennetts
		Chartered Accountants
		The Old Carriage	Works
		Moresk Road
		Truro
		TR11DG

Statement ofFinancial	Activities
for the year ended 31stDecember		2021
	Unrestricted	Restricted	Endowment	Total	Total
	Funds	Income	Funds	2021	2020
		Funds
Income and
Endowments from;
(Note 3)
Donations and Legacies	282,355	48,622		330,977	311,443
Other Trading activities	23,354	715		24,069	57,659
Investment income	171			177	47
Total	305,880	49,343		355,223	369,149
Expenditure on:
(Notes 4-6)
Charitable activities	(282,173)	(41,710)		(323,883)	(270,073)
Governance costs	(7,441)	P,720)		(15,161)	(15,260)
Other resources expended	(4,807)	(642)		(5,449)	{6,877)
Total before other
recognised gains and	(294,421)	(50,072)		(344,493)	(292,210)
losses
Loss on property disposal	(3,471)		(11,446)	(14,917)
Tots I	(297892}	(50,072)	(11,446)	(359,410)	(292,210)
Net incomel(expenditure)	7,988	(729)	(11,446)	(4,187)	76,939
Gross transfers between funds	{17,279)	17,279
Net movement in funds	(9,291)	16,550	(11,446)	(4,187)	76,939
Total funds brought forward (Note 11)	439,893	513,795	693,456	1,647,144	1,570,205
forward	430,602	530,345	682,010	1,642,957	1,647,144

Trustees' annual report	and accounts forthe y	and accounts forthe y	ear ended	31Decemb	er 2021
Balance Sheet as at	31"December 2021
		Unrestricted	Restricted	Endowment	Total	'Total
		Funds	Income Funds	Funds	2021	2020
Fixed assets
Tangible assets	(Note?)	253,964	553,447	558,8T5	1,366,286	1,509,406
Current assets
Debtors	(Note 8)	41,995	1,083		43,0?8	25,338
Cash at bank and in hand		149,310	191,767	123,135	464,212	354,592
Total current assets		191,305	192,860	123,136	607,290	3T9,930
Creditors: amounts falling one year	due within (Note 9)	(14,667)	(6,504)		(21,171)	(27,531)
Net current assetsl(liabilities)		176,638	186,346	123,135	486,119	352,399
Total assets less current assetsl(liabilities)		430,602	739,793	682,010	1,852,405	1,861,805
Creditors: amounts falling one year	due after (Note 9)		(209,448)		(209,448)	(214,661)
	Net assets	430,602	530,345	682,010	1,642,957	1,647,144
Funds ofthe Charity
Unrestricted funds		430,602			430,602	439,893
Restricted income funds (Note 10)			530,345		530,345	'.513,?95
Endowmentfunds				682,010	682,010	693,456
Total funds		430,602	530,345	682,010	1,642,957	1,'647,144
Approved by the trustees and		Signature		Print Name		Date of
signed on their behalf						approval

INCOME and ENDOWME	NTS
Recognition of	These are included in the Statement ofFinancial Activities (SoFA)
Resources	when:
	~ the charity becomes entitled to the resources;
	~ the trustees are virtually certain they will receive the resources;
	and
	the monetary value can be measured with sufficient reliability.
Incoming resources	Where incoming resources have related expenditure (as with fundraising
with related	or contract income) the incoming resources and related expenditure	are
expenditure	reported gross in the SoFA.
Grants and donations	Grants and donations are only induded in the SoFAwhen the charity
	has unconditional entitlement to the resources
Tax reclaims on	Incoming resources from tax reclaims are included in the SoFA at	the
donations and gifts	same time as the gift towhich they relate.
Gifts in kind, donated	The church benefits from many voluntary hours and unclaimed out of
services and facilities	pocket expenses contributed by a large number of people. It would	.be
and volunteer help	impossible to place a value on these gifts in kind for which we	are
	extremely grateful.
Investment income	This is induded in the accounts when receivable
Endowment funds	All incoming resources from endowment funds are restricted.
EXPENDITURE AND UABILITIES
Liability recognition	Liabilities are recognised as soon as there is a legal or constructive
	obligation committing the charity to pay out resources.

Governance	co	sts	Include costs ofthe preparation			and examination ofstatutory			accounts,
			the costs oftrustee meetings		and cost		ofany	legal advice to trustees on
			governance or constitutional		matters.
ASSETS
Tangible fixed assets for use by charity			Tangible fixed assets are included at cost, being purchase price, less accumulated depreciation. Fixed assets under 1500are not capitalised
			and are written off in the period			to which they		relate.
Depreciation of		fixed	Depreciation is provided at		rates calculated to write off the				cost less,
assets			estimated residual value, ofthe			asset over its expected useful			economic
			life, as follows:
			Fixtures and fittings 20Vo- 25%straight				line
			Depreciation has not been charged for				assets owned for only part ofa
			year.
ACCUMULATED		FUNDS
Unrestricted	funds		Unrestricted funds are available			for use	atthe	discretion ofthe trustees
			in furtherance of the general		objectives		ofthe	charity.
Restricted funds			Restricted funds are subject		to specific		conditions by donors as to how
			they are to be used. The purposes ofthe restricted funds are						set out in
			the notes to the accounts
3 Analysis	ofincome and endowments fremi
			Analysis				2021		2020
									K
Donations	and	legacies	Donations					281,916	256,795
			Tax refunded through	gilt		aid		46,061	41,416
			Grants received					3,000	6,160
			Bequests and legacies						7,072
						Total		330,97T	311,443
Other trading activities			Other income					'I7,676	52,545
			Letting/hire income					6,393	5,114
						Total		24,069	57,659
Investment	income		Interest receivable					177	47
						Total		17T	47

Analysis	ofexpendi	ture on.
Charitable	activities	Analysis
		Activities	Support	Total	Total
		Undertaken	Costs	2021	2020
		directly
Church activities		46,716	277,167	323,883	270,073
				2021	2020
SupportCosts		Capitation (affiliation cast)		9,681	9,216
		Salaries (note 6)		198.564	148.043
		Trave(ling expenses		2,576	2,007
		Hire ofhalls		2,908	3,467
		Telephone		1,182	1,340
		Insurance		2,650	4,759
		Rent		20,700	20,600
		Rates		4,323	3,955
		Repairs and maintenance		8,573	6,791
		Light, heat and water		8,427	10,422
		Office and administration	expenses	13,519	11,962
		Website		737	380
		Licences		3,327	2,512
			Total	277,167	225,454
Total expenditure.
		Charitable activities		323,883	270,073
		Governance costs		15.161	15,260
		Other -depreciation		5,449	6,877
			Total	344,493	292,210

Details ofcertain ite 5.1Trustees' expenses	ms ofexpenditure
				2021	2020
Number oftrustees who were paid expenses
Travelling expenses
Total amount paid
5.2Fees for examination	ofthe accounts
				2021	2020
Independent examiner's accounts	or auditors' fees for	reporting	on the	1,000	1,000
Other fees (forexample: advice, consultancy, services} paid to the independent examiner		accountancy		5,080	5,011

6.1Staff	Costs
			2021	2020
			E	E
Gross wages, salaries			177,367	138,571
Employer's	National	Insurance costs	10,7'I3	2,990
Pension costs			10,484	6,482
Total staff	costs		198,564	148,043

					Freehold	Fixtures,	Total
					land a	fittings and
					buildings	equipment
		Cost Balance	brought forward		1,496,237	60,512	1,556,749
		Additions			7,133		7,133
		Disposal			(144,805)		(144,805)
		Cost Balance	carried forward		1,358,565	60,512	1,419,077
		Depreciation	Balance brought	forward		(47,342)	(47,342)	I
		Depreciation	charge foryear			(5,449)	(5,449), '
		Depreciation	Balance carried	forward		(52,791)	(52,791)
		Net BookValue Brought forward			1,496,237	13,170	1,509,407
		Net Book Value Carried forward			1,358,565	7,?21	1,366,286
	Debtors	and prepayments
	Analysis	ofdebtors
	Amounts	falling due within one year				2021	2020
	Grant receivable						1,000
	Rental deposit					1,300	1,300
	Wages					10,501	8,035
	Gift aid					26,157	9,573
	Prepayments					5,120	5,430
					Total	43,078	25,338

Fund Name	Fund Type	Purpose and Restrictions
Building Fund —Heiston	PE	Acquisition and conversion ofchurch remises
Building Fund - Pool	EE	Acquisition and conversion ofchurch remises
Helston Building Fund		Building and conversion ofchurch remises
Hayie Church Development		Fordevelopment ofthe church in
Fund		Ha ie
Missionary Fund		Tosupport church planting within Comwall
Pastoral Support - Penzance		Support the pastor with additional trainin and mentorin
Penzance Building Fund		Funds to buy a building premises for the Church
Missionary —Church specific		Funds to support missionary work outside the local Churches
G Musser- study support		Supporting the study ofG Musser
Other		Yarious donations forspecific u oses

ments ofmajor fun	ds
Fund names	Fund	Incoming	Outgoing	Transfers	Fund
	balances	resources	resources		balances
	brought				carried
	forward				forward
Unrcstricted- Other	173,273	305,8&0	(297,892)	(17,279)	163,982
Unrestricted- Buildin s	266,620				266,620
Unrestricted— Total	439.893	305,880	(297,892)	(17,279)	430,602
Endowment
Building Fund Helston	552,675				552,675
Building Fund Pool	140,781		(11,446)		129,335
Total Endowment	693,456		(11,446)		'682,010
Restricted
Helston Building	178,508	840	(8,362)	14,225	185,211
Hayle Church Develo ment Fund	159,900		(2,370)		157,530
Changing Room Fund	927
Falmouth Acts 4 Fund	3,528	3,515	(1,150)	(320)	5,573
Falmouth Weekend Awa		3,721	(5,121)	1,846	446
Missionary Fund	24,663	12,813	(7,000)		30,476
Pastoral Support— Penzance	1,171				1,171
Penzance Building Fund	125,285				125,290
Penzance Acts 435 Fund		150			150
Missionary— Church s ecific	18,948	13,987	(17,888)	1,325	16,372
The training centre Pool	263				263
Giddens Support fund	626	1,500	(1,875)		251
Other	(24)	12,812	(6,306)	203	6,6&5
Total Restricted	513,795	49,343	(50,072)	17,279	530,345

Total Funds	1,647,144	355,225 (359,412}		1,642,95?
From Fund	To Fund (Name)	Reason		Amount
(Name)
Individual	General fund (U)	Support forthe administration	of	18,858
churches		the charity and to pay the
unrestricted		affiliation fees foreach church
funds