**Charity Registration No. 1152260**
**Company Registration No. 08407295 (England and Wales)**
## **LIFE CHURCH HOOK**
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MAY 2021**
## **LIFE CHURCH HOOK**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|David Hill|
|---|---|
||Thomas Colebrooke|
||Peter MacPherson|
||Nicola Hall|
||Helen Wickenden|
|**Pastor**|Ben Martin|
|**Charity number**|1152260|
|**Company number**|08407295|
|**Principal address**|Life Church Centre|
||Elms Road|
||Hook|
||Hampshire|
||RG27 9DX|
|**Registered office**|Life Church Centre|
||Elms Road|
||Hook|
||Hampshire|
||RG27 9DX|
|**Independent examiner**|Richard F Hopper|
||4 Rhodfa Clawdd Offa|
||Denbigh|
||Denbighshire|
||LL16 4RJ|
|**Bankers**|CAF Bank Ltd|
||25 Kings Hill Avenue|
||Kings Hill|
||West Malling|
||Kent|
||ME19 4JQ|
## **LIFE CHURCH HOOK**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Statement of trustees' responsibilities|3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 16|
## **LIFE CHURCH HOOK**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MAY 2021**_
The trustees present their report and accounts for the period ended 31 May 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution , the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) " (effective 1 January 2019 ).
## **Objectives and activities**
The charity's objects are to advance the Christian faith and relieve poverty. The policies adopted in furtherance of these objects are to preach and proclaim the Christian gospel and the teaching of Christian doctrines and principles and there has been no change in these during the year.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
Life Church Hook continues to operate as a charitable limited company. We have continued to strengthen existing activities and develop new opportunities to communicate the Christian Faith and serve our local community. As the Covid-19 pandemic restrictions continued at various levels throughout 2020/21 we adapted our activities retaining some on-line while moving them to in-person when restrictions allowed.
The key activities of the church were adapted during the year as follows:
* regular Sunday meetings for Christian worship and teaching continued on-line via Zoom and live stream, however we began production from our church building in December 2020
* small group meetings for Christian worship, prayer, teaching and discussion continued on-line via Zoom and in person in people's homes and outdoor spaces when permitted
* a free confidential debt advice service called 'Junction 5 Money Advice' offering help with budgetting, creditor negotiation, understanding benefits entitlements and court proceedings continued in person or via Zoom dependent upon individual's preference
* a foodbank providing free emergency food parcels to families and individuals in the local area identified through our own activities or referred from other organisations and professionals continued throughout the pandemic
* a parent and toddler group, Little Seeds, re-started initially with pre-booking and restricted numbers attending
Our church attendance levels have remained fairly level throughout the pandemic as have our income levels. Some additional costs were incurred as we adapted to on-line meetings, however there were also some savings made.
## **Financial review**
The financial transactions of the charity during the period and the financial position at the end of the period are summarised in the attached accounts. The trustees consider the financial position to be satisfactory.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The charity is a company limited by guarantee formed on 18 February 2013 .
- 1 -
## **LIFE CHURCH HOOK**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MAY 2021**_
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
David Hill
Thomas Colebrooke Peter MacPherson Nicola Hall Helen Wickenden
New trustees are appointed from fellow Christians who are members of the church, by recommendation and invitation as appropriate.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The church is served by trustees who are responsible for the administration of financial affairs and material assets and governance of the charity, and by elders who are responsible for the teaching, pastoral care and other activities of the church. The trustees and elders work closely together in pursuing the objects of the charity. Day by day decisions on expenditure and departmental matters are taken by the staff and volunteers who have been given responsibility for these areas under the direction and oversight of the elders and trustees. In April 2020 David Grant resigned as an elder and pastor of the church and left our employment; Ben Martin has taken his place since May 2020.
The church is a part of the Commission network which itself belongs to Newfrontiers International Network of churches, and is also a member of The Evangelical Alliance.
The trustees' r eport was approved by the Board of Trustees.
..............................
**David Hill** Trustee Dated: .........................
- 2 -
## **LIFE CHURCH HOOK**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 MAY 2021**_
The trustees, who are also the directors of Life Church Hook for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law 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 resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. 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.
- 3 -
## **LIFE CHURCH HOOK**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIFE CHURCH HOOK**
I report to the trustees on my examination of the financial statements of Life Church Hook (the charity) for the year ended 31 May 2021.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **Richard F Hopper**
## **Chartered Accountant**
4 Rhodfa Clawdd Offa Denbigh Denbighshire LL16 4RJ
Dated: .........................
- 4 -
## **LIFE CHURCH HOOK**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MAY 2021**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
102,271
6,063
Lettings income
**4**
394
-
Investments
**5**
15
-
Other income
**6**
-
131
**Total income**
102,680
6,194
**Expenditure on:**
Charitable activities
**7**
72,209
5,940
Other Expenses
**12**
10,091
-
**Total resources expended**
82,300
5,940
**Net incoming resources before transfers**
20,380
254
Gross transfers between funds
742
(742)
**Net income/(expenditure) for the year/**
**Net movement in funds**
21,122
(488)
Fund balances at 1 June 2020
233,935
447,407
**Fund balances at 31 May 2021**
255,057
446,919|**Total**
**2021**
**£**
108,334
394
15
131
108,874
78,149
10,091
88,240
20,634
-
20,634
681,342
701,976|**Total**
**2020**
**£**
111,178
1,715
55
2,792|
|---|---|---|
|||115,740|
|||96,191|
|||10,542|
|||106,733|
|||9,007
-|
|||9,007
672,336|
|||681,343|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 5 -
## **LIFE CHURCH HOOK**
## **BALANCE SHEET**
## _**AS AT 31 MAY 2021**_
|**Notes**
**Fixed assets**
Tangible assets
**13**
**Current assets**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**16**
Net current assets
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**17**
**Net assets**
**Income funds**
Restricted funds
**19**
Unrestricted funds|**2021**
**£**
**£**
934,321
13,480
41,282
54,762
(19,605)
35,157
969,478
(267,502)
701,976
446,919
255,057
701,976|**2020**
**£**
**£**
931,154
13,073
35,343
48,416
(17,103)
31,313
962,467
(281,124)
681,343
447,407
233,936
681,343|
|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
.............................. .............................. David Hill Thomas Colebrooke **Trustee Trustee**
**Company Registration No. 08407295**
- 6 -
## **LIFE CHURCH HOOK**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MAY 2021**_
## **1 Accounting policies**
## **Charity information**
Life Church Hook is a private company limited by guarantee incorporated in England and Wales. The registered office is Life Church Centre, Elms Road, Hook, Hampshire, RG27 9DX.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's constitution, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Incoming resources**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **1.5 Resources expended**
Expenditure is charged in the accounts at the time when a liability to make payment is incurred.
- 7 -
## **LIFE CHURCH HOOK**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MAY 2021**_
## **1 Accounting policies**
**(Continued)**
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Plant and machinery 25% p.a. on net value
No depreciation is provided in respect of freehold land. Freehold buildings are not depreciated because the trustees consider that the market value of the buildings is not less than their cost.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 8 -
## **LIFE CHURCH HOOK**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MAY 2021**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
## **1.10 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**£**
**£**
Donations and gifts
102,271
5,743
Grant income
-
320
102,271
6,063|**Total**Unrestricted
Restricted
funds
funds
**2021**
2020
2020
**£**
£
£
108,014
104,712
5,966
320
-
500
108,334
104,712
6,466|Total
2020
£
110,678
500
111,178|
|---|---|---|
- 9 -
## **LIFE CHURCH HOOK**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MAY 2021**_
## **4 Lettings income**
|||||**Unrestricted**|Unrestricted|
|---|---|---|---|---|---|
|||||**funds**|funds|
|||||**2021**|2020|
|||||**£**|£|
||Letting and licensing arrangements|||394|1,715|
|**5**|**Investments**|||||
|||||**Unrestricted**|Unrestricted|
|||||**funds**|funds|
|||||**2021**|2020|
|||||**£**|£|
||Interest receivable|||15|55|
|**6**|**Other income**|||||
|||**Restricted**|Unrestricted|
Restricted|Total|
|||**funds**|funds|
funds||
|||**2021**|2020|
2020|2020|
|||**£**|£|
£|£|
||Youth activities income|131|33|
113|146|
||Other activities income|-|2,646|
-|2,646|
|||131|2,679|
113|2,792|
- 10 -
## **LIFE CHURCH HOOK**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MAY 2021**_
## **7 Charitable activities**
||**Church**|**Church**|
|---|---|---|
||**activities**|**activities**|
||**2021**|**2020**|
||**£**|**£**|
|Staff costs|39,226|49,338|
|Church activities|13,356|12,149|
||52,582|61,487|
|Grant funding of activities (see note 8)|11,309|12,774|
|Share of support costs (see note 9)|13,537|21,227|
|Share of governance costs (see note 9)|721|703|
||78,149|96,191|
|**Analysis by fund**|||
|Unrestricted funds|72,209|89,894|
|Restricted funds|5,940|6,297|
||78,149|96,191|
|**For the year ended 31 May 2020**|||
|Unrestricted funds|89,894||
|Restricted funds|6,297||
||96,191||
## **8 Grants payable**
||**Church**|Church|
|---|---|---|
||**activities**|activities|
||**2021**|2020|
||**£**|£|
|Grants to institutions:|||
|Other|10,870|10,863|
|Grants to individuals|439|1,911|
||11,309|12,774|
-
- 11 -
## **LIFE CHURCH HOOK**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MAY 2021**_
## **9 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Depreciation
2,187
-
Premises and equipment
costs
6,944
-
Administrative expenses
4,406
-
Accountancy
-
708
Other governance costs
-
13
13,537
721
Analysed between
Charitable activities
13,537
721|**2021**
Support
costs
Governance
costs
**£**
£
£
2,187
919
-
6,944
17,398
-
4,406
2,910
-
708
-
690
13
-
13
14,258
21,227
703
14,258
21,227
703|2020
£
919
17,398
2,910
690
13
21,930
21,930|
|---|---|---|
Governance costs includes payments to the independent examiner of £ 708 ( 2017: £ 670 for independent examination and accountancy fees.
## **10 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or reimbursement of expenses during the period .
## **11 Employees**
The average monthly number of employees during the year was:
||**2021**|**2020**|
|---|---|---|
||**Number**|**Number**|
|Church activities|1|1|
|Administration|1|1|
|Total|2|2|
|**Employment costs**|**2021**|**2020**|
||**£**|**£**|
|Wages and salaries|36,439|46,242|
|Other pension costs|2,787|3,096|
||39,226|49,338|
There were no employees whose annual remuneration was more than £60,000.
- 12 -
## **LIFE CHURCH HOOK**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MAY 2021**_
## **12 Other Expenses**
|Financing costs
**13**
**Tangible fixed assets**
**Cost**
At 1 June 2020
Additions
Disposals
At 31 May 2021
**Depreciation and impairment**
At 1 June 2020
Depreciation charged in the year
Eliminated in respect of disposals
At 31 May 2021
**Carrying amount**
At 31 May 2021
At 31 May 2020
**14**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income|**Unrestricted**Unrestricted
**funds**
funds
**2021**
2020
10,091
10,542
10,091
10,542
**Land and**
**buildings**
**Equipment**
**Total**
**£**
**£**
**£**
928,387
21,699
950,086
-
5,355
5,355
-
(2,504)
(2,504)
928,387
24,550
952,937
-
18,933
18,933
-
2,187
2,187
-
(2,504)
(2,504)
-
18,616
18,616
928,387
5,934
934,321
928,387
2,767
931,154
**2021**
**2020**
**£**
**£**
7,084
6,661
6,396
6,412
13,480
13,073|
|---|---|
- 13 -
## **LIFE CHURCH HOOK**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MAY 2021**_
|**15**
**Loans and overdrafts**
Bank overdrafts
Bank loans
Payable within one year
Payable after one year|**2021**
**£**
2,304
281,139
283,443
15,941
267,502|**2020**
**£**
-
294,294
294,294
13,170
281,124|
|---|---|---|
The loan is secured by a fixed charge over the Life Church Centre building.
The loan is for a period of 21 years with interest payable at 2.5% above base-rate with a minimum rate of 3.5%.
## **16 Creditors: amounts falling due within one year**
|**Notes**
Bank loans and overdrafts
**15**
Other taxation and social security
Deferred income
**18**
Accruals and deferred income
**17**
**Creditors: amounts falling due after more than one year**
**Notes**
Bank loans
**15**
**18**
**Deferred income**
Other deferred income|**2021**
**£**
15,941
-
2,856
808
19,605
**2021**
**£**
267,502
**2021**
**£**
2,856|**2020**
**£**
13,170
146
3,014
773
17,103
**2020**
**£**
281,124
**2020**
**£**
3,014|
|---|---|---|
- 14 -
## **LIFE CHURCH HOOK**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MAY 2021**_
## **19 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|**Movement in funds**
**Balance at**
**1 June 2019**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**1 June 2020**
**£**
**£**
**£**
**£**
Building Fund
441,723
-
-
441,723
J5 Fund
4,346
5,772
(5,257)
4,861
Little Seeds Fund
427
113
(459)
81
Other restricted funds
629
694
(581)
742
447,125
6,579
(6,297)
447,407|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
-
-
6,062
(5,939)
131
-
-
-
6,193
(5,939)|**Transfers**
**Balance at**
**31 May 2021**
**£**
**£**
-
441,723
-
4,984
-
212
(742)
-
(742)
446,919|
|---|---|---|
- 15 -
## **LIFE CHURCH HOOK**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MAY 2021**_
|**20**|**Analysis of net assets**|**between funds**||||||
|---|---|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total**|Unrestricted|Restricted|Total|
|||**funds**|**funds**||funds|funds||
|||**2021**|**2021**|**2021**|2020|2020|2020|
|||**£**|**£**|**£**|£|£|£|
||Fund balances at 31|||||||
||May 2021 are|||||||
||represented by:|||||||
||Tangible assets|492,238|442,083|934,321|489,147|442,007|931,154|
||Current assets/|||||||
||(liabilities)|30,321|4,836|35,157|25,912|5,401|31,313|
||Long term liabilities|(267,502)|-|(267,502)|
(281,124)|-|(281,124)|
|||255,057|446,919|701,976|233,935|447,408|681,343|
## **21 Related party transactions**
There were no disclosable related party transactions during the year (2020 - none) .
- 16 -