## |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|| ## ## ## ## ## ##