## **LIFE LINK LLANDRINDOD UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022**
## **Life Link Llandrindod**
## **Reference and Administrative Details**
## **For the Year Ended 31 March 2022**
The Trustees, who are also directors for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2022.
**Company No.** 08102521 **Charity No.** 1148139 **Principal Office:** New Life Pentecostal Church Spa Road East Llandrindod Wells Powys LD1 5ES **Registered Office:** New Life Pentecostal Church Spa Road East Llandrindod Wells Powys LD1 5ES
## **Directors and Trustees**
The Directors of the charitable company are its Trustees for the purposes of charity law.
The following Directors and Trustees served during the year:
T J Rowlands P M Stevens J M Rollin J I Davies
2
Life Link Llandrindod
Trustees Annual Report
For the Year Ended 31 March 2022
Objectives and aim5".
Tliis charity was set up b> New Life Chiirch (noi¥ known as Festii'al Church Llandrindod) lo run the
social eiiterprise side ofilie church acti ilies and since its in¢eption this has cov¢red a range of
activities. The main activity whi¢li cc)ntinues siiice Covid and the resulting restrictions is the Pre-
school, Jigsaw, and th¢ fo¢us has b¢en, as in the last t,0 years, lo ¢nsur¢ th¢ ¢i)ntinued provision of
good quali1> and alTordable uare for pre-schoc)l age children, enabling them to advance their education
by providing support and activities which d¢v¢lop their skills, ¢apa¢iti¢s and capabilities and prepare
them for Ihe transition lo school.
Aehievements and performanee:
The Pre-school reniained open during the final periods of lockdown and despite the usual reduction in
numbers at the beginning of the academic year, September 2021, ,hen a number of children move on
to school, Ihe places JiESall, has to offer both under goven)ment funded schemes and as chargeable
hours were quickly filled and for the rest of the financial year the Pre-school operated at full capacity.
During this lime changes to Life Link's Articles of Association w'ere required so that this charity could
be separated from New Life Pentecostal Church to enable the latter to join with the Festival Group of
Churches. The Articles of Association for Life Link were amended by means of a Written Resolution
of tl)e trustees and filed. Following this a five-year lease was drawn up by New Life Pentecostal
Church to confirm the tertns on Trvhich Life Link uses part of the premises owned by the church. The
lease Thas filed '1th the Land Registry on 21 st January 2022. A Shared Services Agreetnent was
draw'n up to dcfinc the day-to-day relationship between the two cotnpanies.
Financial Review:
F undiiig und¢r the governmeyjt schemes - Flying Start Scheme, 3-Year Olds scheme and AFC {Actioi)
for Childrcn)- allowcd the Pre-scliool to fill all thc placcs and cmploy a full complcinent of stsff. No
stsff were lost during Il)e t.0 year of pandemic restrictions. Jigsaw's incoine froin paid places
inca5¢d in the Vcar a5 the tiine spent fuiictioning as a Hub for Ilic local arca re5ultcd in more parents
decidiiig to keep their childrei) in the Pre-scliool ratlier than reluniing to ¢hildcare facilities t1)e had
used pr¢-pandemi¢, a numb¢r of whi¢h liad, in this lime, ¢los¢d down.
Grants were r¢¢¢iv¢d for th¢ pur¢has¢ of ¢qiiipinent and for refurbishing areas in tlie building used
Cxclusively by the pre-sLhool. Essential repairs and improvcments were made.
The company's Reserves Policy was adopted by the trustees and funds equivalent to three-months, of
expenditure were pul into a separate a¢counl wilh Monmouth Building So¢i¢ty. The compan!
continues to hold suificient funds in the current account to cover one month's average expenditure.
Introduction with effect from April 2021 of an accounting software package has improved the
a¢¢ura¢y of data input and monthly reporting.
Future Plans:
For Jigsaw, to continue lo provide the best possible quality of education for children from two years
old to the age when they can start sch(M)l.
For Life Link to continue to work with the Festival Church Cio, to establish new patterns of working
with the church's new pastors and ensure the stllooth running of day-to-day operations.
Structure* governance and management:
At 31 st March, 2022 there were four trustees, T J Rowlands (Chair), P M Stevens (Company
Secretsry). J M Rollin, J l Davies
The trustecs offer thcir Seic¢S on a voluntary basis and thc value of their cxpcrtisc and expcricncc,
as well as their dedication to the stllooth running of the charity, is regularly noted and appreciated.
## **Life Link Llandrindod**
## **For the Year Ended 31 March 2022**
## **Respective Responsibilities of Trustees and Examiner**
The trustees (who are also the directors of the company for the purposes of company law) are required for this year under section 144 of the Chariti independent examination is needed.
It is my responsibility to:
- Examine the accounts under section 145 of the Charities Act,
- To follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- To state whether particular matters have come to my attention.
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosure in the accounts and seeking explanation from the trustees concerning any such matter. The procedures undertaken do not provide all the evidence that would be required in an audit, report is limited to those matters set out in the statement below.
## **Independent Statement**
In connection with my examination, no matter has come to my attention: -
- 1) Which gives me reasonable cause to believe that in, any material respect, the requirements: Accounting records have not been kept in accordance with section 386 of the Companies Act 2006;
- The accounts do not accord with such records;
- relevant accounting requirements under section 296 of the Companies Act 2006, or are not consistent with the Charities SORP (FRS 102);
- Any matters which the examiner believes should be drawn to the attention of the reader to gain a proper understanding of the accounts.
N Parry Accountancy Ltd 38 Parc Yr Irfon Builth Wells Powys LD2 3NG
5
## **Life Link Llandrindod**
## **Statement of Financial Activities**
## **For the Year Ended 31 March 2022**
|**Income (Note 3)**
**Income and endowments from:**
Charitable activities
Investments
**_Total_**
**Expenditure (Note 5)**
**Expenditure on:**
Charitable activities
**_Total_**
**Net income/(expenditure)**
**_Net movement in funds_**
**_Reconciliation of funds:_**
Total funds brought forward
**_Total funds carried forward_**|**Unrestricted**
**funds**
**2022**
**Total funds**
**_2021_**
**_Total funds_**
**£**
**£**
**_£_**
240,962
240,962
_240,305_
9
9
_-_|
|---|---|
||240,971
240,971
_240,305_|
||198,582
198,582
_194,101_|
||198,482
198,582
_194,101_|
||42,388
42,388
_46,204_|
||42,388
42,388
_46,204_|
||49,250
49,250
_3,046_
91,638
91,638
_49,250_|
6
## **Life Link Llandrindod**
## **Balance Sheet**
## **For the Year Ended 31 March 2022**
|**Fixed assets**
Tangible assets (Note 9)
**_Total fixed assets_**
**Current assets**
Debtors (Note 10)
Cash at bank and in hand (Note 12)
**_Total current assets_**
Creditors: amounts falling due within one year
(Note 11)
**_Net current assets/(liabilities)_**
**_Total assets less current liabilities_**
Creditors: amounts falling due after one year
(Note 11)
**_Total net assets or liabilities_**
**Funds of the Charity**
Unrestricted funds
**_Total funds_**|**Unrestricted**
**funds**
**2022**
**Total**
**_2021_**
**_Total_**
**£**
**£**
**_£_**
17,464
17,464
_5,555_|
|---|---|
||17,464
17,464
_5,555_|
||7,276
7,276
_4,580_
77,107
77,107
_48,128_|
||84,383
84,383
_52,708_|
||10,209
10,209
_9,013_|
||74,174
74,174
_43,696_|
|||
||91,638
91,638
_49,250_|
||-
-
_-_|
||91,638
91,638
_49,250_|
||91,638
91,638
_49,250_
91,638
91,638
_49,250_|
**The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.**
**The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.**
**The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.**
**These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.**
Signed on behalf of all the trustees/directors :
Oct 3, 2022
Company Number 08102521 Charity Number 148139
7
## **Life Link Llandrindod**
## **Notes to the Accounts**
## **For the Year Ended 31 March 2022**
## **Note 1. Basis of preparation**
## **1.1 Basis of accounting**
These accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts 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 (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
## **1.2 Going concern**
The trustees consider that there are no material uncertainties about the Church's ability to continue as a going concern.
## **1.3 Change of accounting policy**
The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note 1.
## **Note 2. Accounting Policies**
## **2.1 INCOME**
## **Recognition of income**
These are included in the Statement of Financial Activities (SoFA) when:
- the charity becomes entitled to the resources;
- it is more likely than not that the trustees will receive the resources;
- the monetary value can be measured with sufficient reliability.
## **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 FRS102 SORP).
## **Government grants**
The charity has received government grants in the reporting period.
## **Volunteer help**
The value of any voluntary help received is not included in the accounts but is described in the t.
8
## **Life Link Llandrindod**
## **Notes to the Accounts (continued)**
## **For the Year Ended 31 March 2022**
## **2.2 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.
## **Redundancy cost**
The charity made no redundancy payments during the reporting period.
## **Deferred income**
No material item of deferred income has been included in the accounts.
## **2.3 ASSETS**
## **Tangible fixed assets for use by charity**
These are capitalised if they can be used for more than one year, and collectively cost at least £100.
They are valued at cost.
The depreciation rates and methods used are disclosed in note 9.
## **Debtors**
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
## **Related Party Transactions and Trustees' Expenses and Remuneration**
The trustees all give freely their time and expertise without any form of renumeration or other benefit in cash or kind (2021: nil).
## **Irrecoverable VAT**
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
9
## **Life Link Llandrindod**
## **Notes to the Accounts (continued)**
## **For the Year Ended 31 March 2022**
## **Note 3. Income**
|**Note 3. Income**||
|---|---|
|**Analysis of income**
**Charitable**
**activities:**
Flying start
Jigsaw
Room Hire
Action For Children
3-year funding
Grants
CCAS
Other
**Total**
**Income from**
**Investments:**
Interest income
**Total**
**TOTAL INCOME**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Total funds**
_2021_
_Total Funds_
**£**
_£_
41,325
**-**
**41,325**
_44,536_
66,224
**-**
**66,224**
_43,677_
-
**- -**
_-_
6,556
**- 6,556**
_-_
104,577
**-**
**104,577**
_87,564_
20,316
**-**
**20,316**
_15,765_
-
**-**
**-**
_48,429_
1,964
**-**
**1,964**
_334_|
||240,962
**- 240,962**
_240,305_|
||9
**-**
**9**
_44,536_|
||9
**- 9**
_44,536_|
||**240,971**
**- 240,971**
240,305|
## **Note 4. Analysis of receipts of government grants**
||||||**2021**|
|---|---|---|---|---|---|
||||**Description**||**£**|
|**Grant**|**1**|Powys County Council - Covid Recovery grant||||
||||||2,902|
|**Grant**|**2**|Soil Association||||
||||||150|
|**Grant**|**3**|Powys County Council|New Curriculum costs grant|||
||||||5,000|
|**Grant**|**4**|Powys County Council|To cover increased cost for 3 year old setting|||
||||||1,557|
|**Grant**|**5**|Powys County Council|Sustainability grant to cover increased cost for|Jigsaw||
||||||1,077|
|**Grant**|**6**|Powys County Council|To buy equipment/resources for Jigsaw|||
||||||4,000|
|**Grant**|**7**|Powys County Council|Childcare grant|||
||||||5,630|
|||||**Total**|20,316|
_**2021: 15,765**_
10
## **Life Link Llandrindod**
## **Notes to the Accounts (continued)**
## **For the Year Ended 31 March 2022**
## **Note 5. Expenditure**
|**Expenditure on charitable activities:**
Wages - Flying Start
Wages - Jigsaw
Wages - 3-year-old funding
Wages - Life Link
Wages - Covid Hub
Snacks
Pension Payments - Employer
Employer NI
Training
Grant expenditure
Utilities
Equipment
Building maintenance
Accommodation costs
Insurance
Office supplies
Professional fees
Accountancy
Depreciation
**Total expenditure on charitable activities**
**TOTAL EXPENDITURE**|**2022**
_2021_
Unrestricted
funds
**Total funds**
_Total funds_
**£**
_£_
32,763
**32,763**
_16,092_
64,281
**64,281**
_57,838_
33,479
**33,479**
_22,035_
25,840
**25,840**
_19,768_
-
**-**
_26,761_
3,414
**3,414**
_5,695_
2,717
**2,717**
_2,201_
4,996
**4,996**
_2,475_
-
**-**
_388_
-
**-**
_11,276_
-
**-**
_2,835_
6,281
**6,281**
_3,403_
1,671
**1,671**
_6,485_
10,000
**10,000**
_10,000_
603
**603**
_-_
1,694
**1,694**
_1,132_
5,930
**5,930**
_3,352_
1,954
**1,954**
_1,522_
2,960
**2,960**
_843_
198,582
**198,582**
_194,101_
**198,582**
**198,582**
_194,101_|
|---|---|
11
## **Life Link Llandrindod**
## **Notes to the Accounts (continued)**
## **For the Year Ended 31 March 2022**
## **Note 6. Fees for examination of the accounts**
|**Assurance services other than independent examination**
**Tax advisory fees**
**Other fees for operating payroll**|**2022**
_2021_
**£**
_£_
**625**_605_
**-**_-_
**-**_-_
**1,329**
_1,136_
**1,954**_1,741_|
|---|---|
## **Note 7. Paid employees**
## **7.1 Staff Costs**
|**Note 7. Paid employees**
**7.1 Staff Costs**||
|---|---|
|Salaries and wages
Social security costs
Pension costs (defined contribution scheme)
Other employee benefits
**Total staff costs**|**2022**
_2021_
**£**
_£_
**156,363**
_142,493_
**4,996**
_2,475_
**2,717**
_2,201_
**-**
_-_|
||**164,075**
_147,169_|
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000 (2021:nil)
**Note 8. Defined contribution pension scheme or defined benefit scheme accounted for as a defined contribution scheme.**
|**Amount of contributions recognised in**
**the SOFA as an expense**|**2022**
_2021_
**£**
_£_
**2,717**
_2,201_|
|---|---|
12
## **Life Link Llandrindod**
## **Notes to the Accounts (continued)**
## **For the Year Ended 31 March 2022**
## **Note 9. Tangible fixed assets**
## **9.1 Cost or valuation**
|**9.1 Cost or valuation**||||||
|---|---|---|---|---|---|
|||**Equipment**|**Office equipment and**|**Improvements to**|**Total**|
||||**computers**|**property**||
|||**£**|**£**|**£**|**£**|
|At the beginning of the year||9,864|2,468|1,660|13,992|
|Additions||14,305|574|-|14,879|
|Revaluations||-|
-|
-|-|
|Disposals||-|
-|
-|-|
|At end of the year||24,169|3,042|1,660|28,871|
|**9.2 Depreciation and impairments**||||||
||**Basis**|Reducing Balance|Reducing Balance|Straight Line||
||**Rate**|15%|15%|20 years||
|At beginning of the year||6,852|1,181|414
|8,447|
|Disposals||-|
-|
-|-|
|Depreciation||2,597|279|83
|2,960|
|Impairment||-|-|-|-|
|At end of the year||9,450|1,460|497|11,407|
|**9.3 Net book value**||||||
|Net book value as at 31 March||3,012|1,297|1,246
|5,555|
|2021||||||
|Net book value as at 31 March||14,719|1,582|1,163|17,464|
|2022||||||
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