2022-12-31-accounts - Light And Life Free Methodist Church West Cornwall

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Page
	Information
4to7	Trustees' Annual Report
	Statement of Financial Activities
10	Balance Sheet
11 to 18	Notes to the Accounts
	Independent Examiner's	Report to the Trustees

Regstered charity number		1147067
Other names charity is known	by	Light and Life Free Methodist			Church
Principal address		Light 8 Life Centre
		Water-ma-Trout	Industrial	Estate
		Helston
		Gornwall
		TR13OLW
Chair ofthe Trustees 8 Lead Pastor		Michael Bretton
Bankers		Lloyds Bank
		Market Place
		Penzance
		Cornwall
		TR182TN
Accountants		Francis Clark LLP
		Chartered Accountants
		Lowin House
		Tregolls Road
		TIUIO
		TR1 2NA

Members ofthe Board ofT	rustees during the year were:	rustees during the year were:
Pastor Michael Bretton	Lead Pastor (Chair)
Simon Van Der Plank	Hayle
Timothy Giles	Falmouth	(resigned 21August 2023}
Colin Simmons	Helston
David Parker	Hayle

Statement ofFinancial Activities	Statement ofFinancial Activities	(SOFA) for	the year ended 31Decemeber	the year ended 31Decemeber	the year ended 31Decemeber	2022
	Notes to the accounts	Unrestricted Funds	Designated Funds	Restricted Income Funds	Endowment Funds	Total 2021-22
Income
1 Donations and legacies		253,242	24,018	26,909		304,169
2 Other trading income		8,212	2,300			10,512
7 Investment income		114				114
8Total income		261,568	26,318	26,909		314,795
Expenditure
Charitable activities		253,873	29,169	38,656		321,698
Governance costs		8,642		7,911		16„553
Loss on property disposal
16Other outgoings		2,257		558		2,815
17Total charitable expenditure		264,772	29,169	4?,125		341,066
18Gains/(losses) on monetary	investments
19Gains/(losses) on investment	properties
20 Net income/(expenditure)		(3,204)	(2,851)	(20,216)		(26,271)
21 Transfers between funds		(107,675)	46,848	60,827
22 Other gains/(losses)
23 Net movement in funds		(110,879)	43,997	40,611		(26„271)
24 Total funds brought forward		430,602		530,345	682,010	1,642,957
25Total funds carried forward	10.2	319,723	43,997	570,956	682,010	1,616,686

Light and Ufe Free Methodist Church Nest	Light and Ufe Free Methodist Church Nest	Cornwall		1147067	1147067	1147067
Statement ofFinancial Activities		(SQFA)fof	the peaf	ended 31Decefnb8f 2021
	Notes to accounts	Unrestricted Funds	Designated Funds	l Restricted Income Funds	Endowment Funds	Total 2021-22
Income
1 Donations and legacies		282,355		48,622		330,977
2 Other trading income		23,354		715		24,069
7 Investment income		171		6		177
8Total income		305,880		49,343		355,223
Expenditure
Charitable activities		282,173		41,710		323,883
Governance costs		7,441		7,720		15,161
Loss on property disposal		3,471				14,917
16Other outgoings		4,807		642		5,449
17Total charitable expenditure		297,892		50,072		359,410
18Gains/(losses) on monetary	investments
19Gains/(losses) on investment	properties
20 Net income/(expenditure)		7,988		(729)	(11,446)	(4,187)
21 Transfers between funds		(17,279)		17,279
22 Other gains/(losses)
23 Net movement in funds		(9+91)		16,550	(11,446)	(4,1&7)
24 Total funds brought forward		439,893		513,795	693,456	1,647,144
25Total funds carried forward		430,602		530,345	682,010	1,642,957

			Notes to the Accounts	Unrestricted Funds f	Designated Funds	Restricted Fundsf	Restricted Fundsf	Restricted Fundsf	Funds f	Totals 2022	Totals 2021 f
Fixed Assets
Tangible Assets				248,780			555,814		558,8?5	1,363,469	1,386,286
	Total fixed assets
Current Assets
Debtors and prepayments				35,252				1,907		37,159	43,078
Cash at Bank and in	hand			47,725	44,032			13,235	123,135	228,127	464,212
Total cunent		assets		82,977	44,032			15,142	123,135	265,286	507,290
Current liabilities
Creditors (due in under 1 year)				12,034	35					12,069	21,1?1
Total	current liabilities			12,034	35					12„069	21,171
Net cunent	assetslliabilities			l0,943	43,997			15,142	123,135	253,217	486,119
Total assets less	cwrent liabilities			319,723	43,99?		570,956		682,010	1,616,686	1,852,405
Long term liabilities
{dueafter more than one year)
Creditors (due after 1 year)											209,448
	Net	assets		319,723	43,997		570,956		6&2,010	1,616,686	1,642,957
Funds ofthe Circuit
General Fund (Unrestricted)				319,723						319,723	430,602
Designated Fund (Unrestncted)										43,997
Total Unrestricted		Funds								363,720	430,602
Restricted Funds							570,956			5?0,956	530,345
Endowment Funds										682,010	682,010
	Total Funds			319,723	43,997		570,956		6&2,010	1,616,686	1,642,957
Approved by the Trustees and signed on			their behalf
						se d Trustee		//j/J.	C	'j r/l, Date	//r )

				Light and Life Free Methodist Church West Cornwall	Light and Life Free Methodist Church West Cornwall	Light and Life Free Methodist Church West Cornwall
Notes tothe Accounts
1. Basis ofaccounting
The financial statements ofthe charity, which is a public benefit entity under FRS102,have been prepared in accordance					with the Charities SQRP
(FRS102) 'Accounting and Reporting			by	Charities: Statement of Recommended Practice apphcable to charities preparing	their	accounts	in accordance		with
the Financial Reporting Standard		applicable in the UK and Republic ofIreland (FRS102)(effective 1 January 20'l 9)', Financial Reporting					Standard	102	'The
Financial Reporting Standard	applicable			in the UK and Republic of ireland' and the Charities Act 2011. The financial statements		have been prepared
under the historical cost convention.
2. Accounting policies
INCOME AND ENDOWMENTS
Recognition of				These are included in the Statement of Financial 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
with related				fundraising or contract income) the incoming resources and related
expenditure				expenditure are reported gross in the SOFA.
Grants and donations				Grants and donations are only included in the SOFA when the charity
				has unconditional entitlement tothe resources.
Tax reclaims on				Incoming resources from tax reclaims are included in the SOFA at	the
donations and gifts				same time as the gift to which they relate.
Gifts in Idnd, donated				The church benefits from many voluntary hours and unclaimed out	of
services and facilities				pocket expenses contributed by a large number ofpeople. Itwould	be
and volunteer help				impossible to place a value on these gifts in kind for which we are
				extremely grateful.
Investment income				This is included in the accounts when receivable.
Endowment funds				All incoming resources from endowment funds are restricted.
EXPENDITURE AND LIABILITIES
Laibility recognition				Liabilities are recognised as soon as there is a legal or constructive
				obligation committing the charity to pay out resources.
Governance costs				Include costs ofthe preparation and examination ofstatutory accounts,
				the costs oftrustee meetings and cost ifany legal advice to trustees
				on governance or constitutional matters

Charitable activities
	Activities
	Undertaken		Support			Total
	Directly		Costs	Total	2022	2021
Church activities		53,040	268,658	321,698		323,883
					2022	2021
Support Costs					f.	k
	Capitation	(affiliation cost)			11,392	9,681
	Salaries (note 6)			165,489		198,564
	Travelling	expenses			10,269	2,576
	Hire ofhalls				14,088	2,908
	Telephone				1,516	1,182
	Insurance				4,055	2,650
	Rent				16,736	20,700
	Rates				2,216	4,323
	Repairs and maintenance				2,840	8,5?3
	Light, heat	and water			9,866	8,42?
	Office and	administration	expenses		26,029	13,519
	Website				1,054	737
	Licences				3,108	3,327
			Total		268,658	277,167
Total expenditure:
	Charitable	activities		321,698		323,883
	Governance costs				16,553	15,161
	Loss on property disposal					14,917
	Other - depreciation				2,815	5,449
			Total	341,066		359,410

									2022		2021f
Independent examiner's		or auditors'			fees for	reporting	on the
accounts									1,000		1,000
Other fees (for example:		advice, consultancy,				accountancy		services)
paid to the indeependent		examiner							4,250		5,080
Staff
6.1 Staff Costs
									2022		2021
Gross wages, salaries									153,543		177,367
Employer's National	insurance		costs						8,071		10,713
Pension costs									3,875		10,484
Total staff costs									165,489		198,564
No employee received remuneration					in excess off60,000			for either the current or		preceding	period.
6.2Average number	of	full-time		equivalent		employees		in the	2022		2021
year
										12	14
6.3Defined contribution		pension		scheme

ets
					Freehold	Fixtures,	Total
					land B,	fittings and
					buildings	equipment
Cost balance	brought	forward			1,358,565	60,512	1,419,077
Additions
Disposal
Cost balance	carried	forward			1,358,565	60,512	1,419,077
Accumulated	depreciation		brought	forward		52,791	52,791
Depreciation	charge	in year-				2,817	2,817
Accumulated	depreciation		carried	forward		55,608	55,608
Net BookValue Bro		ht	Forward		1,358,565	?,721	1,366,286
Net Book Value Carried Forward					1,358,565	4,904	1,363,469

offunds	offunds
Permanent endowment funds		(PE)	and Expendable Endowment (EE)
Restricted income funds, induding			special trusts, ofthe charity (.R)
Unrestricted income funds	U
Fund name		Fund Type Purpose and Restrictions
Building Fund - Helston		PE	Acquisition and conversion ofchurch remises
Building Fund - Pool		EE	Acquisition and conversion ofchurch remises
Penzance Building Fund		D	Funds to buy a building premises for the Church
Missionary - Church specific		D	Funds to support missionary work outside the local Churches
Missionary Fund		D	To support church planting within Cornwall
Helston Building Fund			Building and conversion ofchurch remises
Hayle Church Development			For development ofthe church in
Fund			Ha le
Pastoral Support - Penzance			Support the pastor with additional trainin and mentorin
G Musser - stud su ort			Su ortin theStudyofGMusser
Other			Various donations for specific
			ur oses

				L	ight 8 Life	Free	Methodist Churc	h West	Comwall
10.2Movements	ofma)or funds
Fund names		Fund balances	Incoming		Outgoing		Transfers	Fund balances
		brought	resources		resources			carried	forward
		forward
Total Unrestricted		430,602	261,568		264,772		(107,675)		319,723
Designated
Penzance Building
Fund
Missionary Fund			11,614		10,564		33,197		34,247
Missionary - Church			14,704		18,605		13,651		9,750
specific
Total Designated			26,318		29,169		46,848		43,997
Endowment
Building Fund Helston		552,675							552,675
Building Fund Pool		129,335							129,335
Total Endowment		682,010							682,010
Restricted
Helston Building		185,211		840	7,966		225,417		403,502
Hayle Church		157,530			2,714				154,816
Development Fund
Changing Room Fund		927					(927)
Falmouth Acts 4 Fund		5,573	3,095		1,048		(1,358)		6,262
Falmouth Weekend			4,137		5,941		1,358
Away
Missionary Fund		30,476					30,476)
Pastoral Support-		1,171					(1,171)
Penzance
Penzance Building		125,290					(125,290)
Fund
Penzance Acts 435		150		150
Fund
Missionary - Church		16,372					(16,372)
specific
The training centre		263					(263)
Pool
Giddens Support fund		251	1,250		1,250				251
Other		6,685	2,614		10,912		1,613
Hayle Hardship			3,785			850	3,190		6,125
Helston Outreach			11,338		16,444		5,106
Total Restricted		530,345	26,909		47,125		60,827		570,956
Total Funds		1,642,957	314,795		341,066			1,616,666