Registered charity number: 1147067 Light and Life Free Methodist Church West Cornwall Trustees. Annual Report and Financial Statements For the year ended 31st December 2024 Light and Life Free Methodist Church West Cornwall Contents Page Information 4t08 Trustees, Annual Report 9t010 Statement of Financial Activities 11 Balance Sheet 12to19 Notes to the Accounts 20 Independent Examiner's Report to the Trustees Light and Life Free Methodist Church West Cornwall Information Regstered charity number 1147067 Other names charity is known by Light and Life Free Methodist Church Principal address Light & Life Centre Water-ma-Trout Industrial Estate Helston Cornwall TR13 OLW Chair of the Trustees & Lead Pastor Michael Bretton Bankers Lloyds Bank Market Place Penzan Cornwall TR18 2TN Accountants Francis Clark LLP Chartered Accountants Lowin House Tregolls Road Truro TR12NA Light and Life Free Methodist Church West Cornwall Trustees, Annual report for the year ending 31st December 2024 The Board of Trustees of Light and Life Free Methodist Church West Cornwall, present their report, together with the financial statements for the charity for 2024. Members of the Board of Trustees during the Year were: Pastor Michael Bretton Chair Lead Pastor Helston David Levy (resigned 22 April 2024) Helston Jeff Lugg Helston Colin Simmons Helston Simon Jones Hayle David Parker Hayle Simon Van Der Plank Hayle John Sawyer (elected 1 Ph March 2025) William Mark Rapson (elected 17th March 2025) Helston Helston th James Greene (elected 27 April 2025) Falmouth Structure, Governance and Management Light and Life Free Methodist Church West Comwall is part of the Free Methodist Church UK Conference. The main governing document of the charity is set out in the Declaration of Trust dated 30th April 2012. Trustees who are elected by the members. meet regularly through the year to review management, financial and operational risk matters. Objectives and Activities The Trustees are aware that the charity has an obligation to operate for an identifiable and public benefit. When reviewing the life of the charity. the Trustees consider the Commission guidan￿ on public benefit. and in particular the specific guidance on charities for the advancement of religion. The objectives of Light and Life Free Methodist Church West Cornwall are: The furtherance of the religious and other charitable works of the Free Methodist Church in accordance with the doctrines. disciplines and usages of that church. and in accordance with the statement of beliefs for the time being of the free Methodist Church. To relieve sickness and financial hardship and to promote and preserve good health by provision of funds. goods or services of any kind, including through the provision of counselling and support. To advance education The Trustees must use the income and may use the capital of the church in promoting these objectives. Achievements and Performance This year, each of our churches have offered worship services as their foundational mission, while also providing a wide range of activities to support and encourage attendees. These initiatives aim to nurture their faith, foster social connections, and deliver pastoral care. Together, we continue to work within West Cornwall to serve and encourage our local communities. Some of the initiatives through which we are making a differen￿ are outlined below: Across each of our churches we continue to support various projects around the world. both in prayer, short term missions and with grants to support works they are involved with to bring help and hope to others in need. When gifts have been sent abroad, we have used Torfx and have been sure to verify the details and contexts to the various projects we have sent support monies to. Hayle In 2024, we experienced encouraging growth and community engagement as a church. Our average Sunday attendance reached 170. and we celebrated three individuals making first-time commitments to follow Jesus. We also had the joy of witnessing five baptisms and welcomed seven new members into the church family. Worship and Word evenings became a meaningful addition to our calendar. offering a more spontaneous alternative to our Sunday services. These gatherings also created space for emerging preachers to grow by sharing the Word in a smaller. more intimate setting. Alongside this, we continued to equip our church in prayer through weekly Zoom prayer gatherings. extended prayer sessions. and by running The Prayer Course. Connect Groups remained at the heart of church life. offering friendship. pastoral care. prayer. and discipleship. Many groups used discussion-based questions from Sunday sermons. while others engaged in The Bible Course and The Romans Course. A new Connect Group launched in Nancegollan, marking the beginning of our vision to create new groups in Hayle and nearby areas. Our children and youth ministries have grown significantly-both in number and depth of community. Regular Friday and Sunday gatherings have helped to build strong friendships and spiritual growth. The Limitless Festival was a highlight. providing space for faith to flourish. and the 'Asking for a Friend, created a plafform for people to explore life's big questions from a biblical perspective. We valued our ongoing partnership with Hayle Day Care Centre, providing Christmas hampers for their service users. Our support for Hayle Foodbank has continued through volunteering, food donations, and financial contributions. Earlier in the year. we also stepped in to cover Winter Fuel Payments for those affected by the withdrawal of government support although not many took up this opportunity. Our outreach efforts came together for a successful Family Fun Day, featuring a BBQ, games, bouncy castles, and opportunities for families to connect and build relationships. It was encouraging to see many of these families return for further events throughout the year. Seasonal community activities like the Easter Egg Hunt. Light Party. and Carol Service offered additional opportunities to connect. build trust. and care for one another. In September, we launched 'Cakes & Shakes'-a new initiative designed to serve primary-aged children from both the church and local community. This drop-in Spa￿ has already become a welcoming environment where friendships are nurtured and children feel at home. Helston Throughout 2024 we have continued in our pursuit to be a healthy church, serving its community and region and with a particular investment in local schools. We have continued to offer our Church seNices both in person and online for those who for different reasons are unable to attend in person. This is a connecting point for all" and especially serves those who are alone or feel isolated to form new friendships and explore faith. Our congregation on Sundays saw encouraging growth from across the Helston, Porthleven and The Lizard Peninsular. Our Growth Groups (Home Groups) continue to provide a pla￿ of friendship and an opportunity to grow in the Christian Faith. We have run Baptism and Exploring Partnership Courses and were encouraged with the two Baptisms we held on Easter Sunday. Friendship and Faith continue to be offered at our 'Time Out, Services with a focus for those who are retired. Over 30 regularly attend the Time Out services with an Afternoon Tea and this has helped create community and deepen friendships. We continue to invest in youth work both from the Light and Life Centre and in offering mentoring to students at Helston Community College by Michael Britton our Youth and Family Pastor. 2024 saw our Energise kids club (our club for primary aged kids) and Ignite (our group for those in High School) both continue to grow. These activities have involved exploring faith. games nights in the Light and Life Centre and various outings including Country Skittles. We also took a group to Spree which is a South West Youth Ministries Summer Camp where many hundreds of children and young people across the South West come to gather. Our work in the schools has continued as we offer assemblies. mentoring and our venue for school events. In December we hosted both Sithney and Trannack School Christmas productions welcoming the entire school and their families into our venue. In partnership with Open Air Mission. we invited local primary schools to attend a Bible Exhibition which explored the story of the Old Testament with approaching 400 children attending. We invited 4 Front Theatre company to deliver 2 Pantivity (Pantomime meets Nativity) performances in December with approx. 360 attending the two shows which were once again a great success for providing local families an affordable. engaging and faith sharing Christmas event. The Pantivity was immediately followed with a Christian themed Christmas Craft Fair for regional Christian crafters to display and sell their works. This gathered almost 300 people into the centre where new friendships were made. We value working in partnership with Mustard Seed who continue to use our ￿ntre in their work to support people with special needs and to provide a café which has continued to flourish seeing many local people attend. This has done much to offer something on the doorstep for those who may otherwise feel isolated. We continue to provide space for the logistical reception and storage of donated foods for the Helston and Lizard Foodbank. We also support the Mustard Seed Christmas Hamper provision for local families by contributing and coordinating the opportunity for toys or gifts for the children and young people to accompany the Christmas Food Hampers. Over 100 families received these gifts and hampers. Table Tennis and Football ministries have also been incredibly successful in building friendships with people in the community with approximately 60 different people attending these activities during the year. We continue to make our ￿ntre available for the work of others who encourage community, health and friendship including Rock Choir and a variety of keep fit activities. Falmouth It's been a busy and fruifful year for our community. Our chaplaincy work at the local secondary school has continued to grow, making a meaningful impact in the lives of pupils. This year saw the launch of our Easter Holiday Cluwa wonderful opportunity to share the good news of Jesus while providing much-needed support for families during the school break. We followed this with our biggest Summer Fun Day to date, welcoming 451 people from the local area. It was a powerful occasion for testimony and a chance to express love and community to families across Falmouth and Penryn. Building on that momentum. we hosted a vibrant American Sports Camp for children in school years 4-9, with around 25 young people attending. This was followed by the launch of Wild and Free, our new Thursday kids club, held at Budock Water Village Hall. As our church family continues to grow. we celebrated three first-time commitments to Jesus and two baptisms. To support these new journeys of faith. we ran both Alpha and First Steps courses. We also launched Fon77ation Groups (small groups of >5 people) and Table Communities to deepen relationships and spiritual growth throughout the church. Throughout the year, we've been privileged to support individuals facing financial hardship through our Acts 4 Fund and Love Falmouth projects-including the Coat Bank and Fresh Food at Christmas initiatives. We are hoping, longer term, to find a venue that will enable us to provide a space for mission and ministry activities throughout the week and have a greater impact on our community. Risk Review This year, we have cultivated a culture of heightened risk awareness across the Charity. All policies have been reviewed and updated to ensure we meet and adhere to good practice throughout our activities. The Trustees have considered the major risks the Charity is exposed to and have satisfied themselves that prO￿dureS are in place to manage those risks. Financial Review and the Charity's policy on Reserves The unrestricted income of the trust exceeded its expenditure by approximately £24k' restricted fund expenditure exceeded income by £11 k; designated fund income exceeded expenditure by £2k. resulting in a net surplus of £15k (2023: £31 k). The Trustees have agreed that reserves should not be excessive and remain positive. Any fund with a negative balance is reviewed as part of the regular Trustees meetings and relevant action taken to ensure that the situation is reversed. The closing balance of funds is £1,663k which includes endowment funds of £558,875, designated funds totalling £153,404, and restricted reserves which total £574.347. The total unrestricted funds are £375.901 of which £252k is represented by fixed assets and £124k which are 'free' reserves available to the charity. a level that the trustees feel is sufficient and is roughly equivalent to five months unrestricted fund expenditure. Light and Life Free Methodist Church West Comwall Responsibilities of Trustees in relation to the Financial Statements The TrUSt￿S are responsible for prepariro Ihe Trustees. Annual Report and the Financial Statements in accordan￿ with applicable law and United Kingdom Accounbng Standards (United Kingdom Generally Accepted Accounting Practi￿). The law appluble to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resour￿. In preparing these financial statements, the Trustees are required to: - select suitsble accounting policies arKI then apply them conistently" - observe the meth(KJs and principles in the charities SORP (FRS102): - make judgements and estimates that are reasonable and prudent" - state whether applicable accounting standards have been followed. subj.ect to any material departLSres disclosed and exptained in the financial statements: - prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue to operate. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the chatity and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Declaration The Trustees declare that Ihey have approved the trustees. rep(xt above. Signed on behalf of the charity's trustees Signature Full name ER. Position Cl4￿ Zg./9. 2 Date 29_ /0- 2o2r. Light and Life Free Methodist Church West Cornwall Charity No 1147067 Statement of Financial Activities (SOFA) for the year ended 31 December 2024 Notes to the aeeounts Unrestrlcted Deslgnated Funds Funds Restrlcted End¢)wment Ineomè Funds Funds Total 2024 Income 1 Donations and legacies 2 Other trading income 7 Investment income 8 Total income Expenditure Charitable activities Govemance costs 16 Other outgoings 17 Total charitabl• èxpènditur• 18 Gainslllossesl on rnonetary investments 19 Gainslllossesl on investtnent properts.es 20 Net incomellexpenditurel 21 Transfers between funds 22 Other gainslllossesl 23 Net mov8m•nt rn funds 24 Total funds brought foward 25 Total funds carrled fonvard 3[￿,923 10.950 3,696 321,569 38.372 6,450 448 351,745 11,398 3,696 366,839 38,372 6,898 278,794 18,TTI 95 297,666 36.245 16.633 331,672 18,777 1,422 351,871 1.327 17,960 36.245 23,903 15,797 2.127 119,1(K)I (11.062) 3,303 14,968 39.700 336.201 37S,901 116,9731 170.377 1S3,404 17.7591 582.106 574,347 14.968 1.647.559 1,662,527 558,875 SS8,875 10.2 Light and Life Free Methodist Church West Cornwall Charlty No 1147067 Statement of Financial Activities (SOFA) for the year ended 31 December 2023 Notes to the a¢¢ounts Unrestricted Designated Funds Funds Re$trl¢ied Incom¢ Fund$ Endowment Funds Total 2023 Income 1 Donations and legacies 2 Other trading income 7 Investment income 8 Total In¢ome 279.844 12,019 2,183 294,046 40.095 15.838 135 335.777 12.154 2.183 350.114 40.095 15.973 Expenditure Charitable activities Governance costs 16 Other outgoings 17 Total ¢harltable expendrtu 18 Gainslllossesl on monetary investments 19 Gains1110ssesl on investment properties 20 Net incornellexpenditurel 21 Transfers between funds 22 Other gainslllossesl 23 Net movement in funds 24 Total funds brought forward 25 Total funds carried fon¥ard 256,623 23,664 1.753 282,040 20.741 14,712 292.076 23.664 3,501 319.241 1.748 16AfjO 20.741 12,006 4.472 19,354 116.1091 14871 11.637 30,873 16,478 319.723 336201 3.245 167.132 170.377 11,150 570.956 582.106 30.873 1,616,686 1.647.559 558.875 558.875 102 Charity No 1147( Balance Sheet as at 31 December 2024 Funds Tota152•24 Toials 20rJ Tangtye *issets 251,704 251.704 558.875 558.875 1J63.318 1.363,318 1.159.968 1.359,968 739 CurrnntAssets Deblors and pr*pa￿￿ts C&sh atBank Y￿d M IHtwJ 29.A35 289,525 318.960 53.147 256.%I8 309,355 115.053 152.864 153,104 21.608 Cur¥8ntlSabilld&s Credit¢xs Idue in undor l Totsi¢u*Trfttllabxlfties 39.751 19,751 124197 19.751 19.751 2992D9 21.764 21.7G4 287￿91 153.404 37¥901 5yJ75 1.rt527 1.647.559 Longtem Ilabllkie5 due after more than one year) Cr8ditor5 lthJ8aftgE 1 Nd*ssets flSJ01 153A04 57I34Y 558,875 1.662 1.647.559 Funds olthe ￿rcuft Generat Fund DBsiJnakd Fund {Unrestr￿tedl 37&901 375,901 1S3.404 ,305 574.347 558.875 1.662.527 336201 170.377 SOQS18 582.106 558,875 1.647,559 153804 RÈstrd&l F4Jnds EndD￿￿ertF￿ 574.347 558,875 558.875 ToialFimds 375JOI 153J04 574.347 pn)ved bYtheT1￿ Wd￿1*dOn1h￿rb8ha 291?.2 29. 10. 2LY2fj. Light and Lrfe Free Methodisl Church West Cornwall Notes to the Accounts 1. Basis of accounting The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP {FRS1021'A¢¢ounting and Reporting by Charities.. Ststement of Recommended Practice applicable to charities preparing their 8c¢ounts in accordan￿ wth the Fin8ncial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 20191.. Financial Reporbng Standard 102 The Financial Reporbng 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 Resources These are included in the Statement of Financial Ackn"viti"es ISOFAI when: the charity becomes entiued to the resour￿$ the trustees are virtually certain they will receive the resources., and the monetary value can measured sufficient reliability. Incoming resources with related expenditure Where incoming resources have related expenditure las wth fundraising or contract income) the incoming resources and related expenditure are reported gross in Ihe SOFA. Grants and donations Grants and donations are only included in the SOFA when the charity has uncondits'onal entitlement lo the resources. Tax reclaims on donations and gifts Incoming resOur￿S from tax reclaims are included in the SOFA at the same time as the gift to which they relate. Gifts in kind, donated services and facilities and volunteer help The church benefits from many voluntary hours and unclaimed out of pocket expenses contn"buted by a large number of people. It would be 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 r￿1vable. Endowment funds l incoming resources from endovdTnent funds are restrided. EXPENDITURE AND LIABILITIES Laibility recognition Liabilities are recognised as scx)n as there is a legal or conslructive obligation committing the ch8rity to pay out resources. Govemance costs Include cosls of the preparation and examination of statutory accounts. the costs of trustee meetings and cost rf any legal advice to trustees on governance or ￿nStitUtiOnal malters. Light and Life Free Methodist Church Ille5t Cornwall ASSETS Tangible fixed assets for use by charity Tangible fixed assets a￿ Ind￿ ai ¢ost. beiw purthse pri￿. W a¢Gutnulated depreciation. Fixed assets under £500 are not (2FMUised and are written off in ￿riod lo ¥vhich they ￿late. Depre¢latlon of fftxed o$$et$ DePreuat￿n is pro¥Aded at rdtes calujlated to ￿te off the cost ￿S8, estimated re&dual value, of the asset over tts exkwtgj u5elul ecotY)mic lrfe. a5 fdbws.. Fixture5 and fittiTrJ5 20%- 25% strdight line Depreuation ha5 not teen tharged lorassets foronly part ofa year. Land and buildirvjs are not depreciated because the tnjstees consider they have a high residual value and are well tnaintaiTEd. any deprecption would LE irnrnaterial. ACCUMULATED FUNDS Unrestricted fvnds un￿tricted fu￿$ a￿ availal￿¢ for use at dis(Xe￿￿ tsustees in furthern￿ of the ger￿ra1 objectives of Ihe charity. Restrl¢teil funds Restricted fU[￿S are subject to 5peufic ¢￿ditionS by