## Liberty Church London
Report and Accounts for the year ended 31 December 2024
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **LIBERTY CHURCH LONDON**
## **COMPANY INFORMATION**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
|**Trustees**|Gethin Amoss|
|---|---|
||John Gibson|
||Megan Kumar|
||David Mazzella|
||Jonathan Pettman|
||Matthew Sadler|
|**Company Secretary**|Emmanuel Mensah|
|**Community Pastors**|Jonny Pettman|
||Tasha Pettman|
|**Governing Document**|Memorandum and Articles of Association dated 18th July 2013|
|**Company Registration Number**|08615779|
|**Charity Registration Number**|1154877|
|**Principal Address**|International House|
||36-38 Cornhill|
||London EC3V 3NG|
|**Registered Office**|International House|
||36-38 Cornhill|
||London EC3V 3NG|
|**Independent Examiner**|Sarah Crispin ACA|
||Stewardship|
||1 Lamb's Passage|
||London|
||EC1Y 8AB|
|**Bankers**|Santander|
||Bootle|
||Merseyside L30 4GB|
|**Contents**|**Page**|
|---|---|
|Company Information|1|
|Trustees' Annual Report|2-4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Accounts|8-13|
|Detailed Statement of Financial Activities with Comparatives|14|
Page 1
## **LIBERTY CHURCH LONDON**
## **Trustee Annual Report (incorporating Directors’ Report)**
## **Year ended 31[ST] December 2024**
The trustees, who are the charity's directors for the purposes of company law, have pleasure in submitting the Report and Accounts for the year.
## **Objects of the charity**
The charity is a charitable company and is governed by its Memorandum and Articles of Association. The objective of the charity, as set out in the Articles of Association, is for the public benefit, to advance the Christian faith in accordance with the Statement of Beliefs in the City of London and in such other parts of the United Kingdom and the world as the trustees may from
Guidance on Public Benefit when reviewing the aims and objectives, planning future activities and setting grant-making policies.
The trustees note that the Church is not a building, but a gathering of ordinary people of different ages and backgrounds, whose lives have been changed by Jesus Christ, the Son of God. The New Testament reveals the Church as a community of people, properly taught and cared for, who by loving and serving Jesus Christ, were also committed to love and care for each other and to bring a blessing to the area in which they lived. Liberty Church London, its trustees, leaders and members are committed to the restoration of those New Testament principles. It is not alone in this, it is one of many Churches in the area, country and all over the world that is re-discovering the excitement of knowing Jesus Christ. The vision is to see the people of London come into this experience of knowing Jesus as their Lord, Saviour and friend.
## **Summary of the charity's main activities and achievements**
Liberty Church London exists to advance the Christian Faith across London. In the period of January through to December 2024 Liberty Church London fulfilled this in numerous ways.
Each Sunday of the year we gather for a Church service in Shoreditch - this Christian service is a free and safe place for Christians and non-Christians to hear bible teaching and engage in Christian worship. We also offer opportunities to take part in rituals such as baptism and the taking of Communion. This service is also broadcast live on YouTube every week - meaning that the impact of the service goes beyond the four walls of our venue.
We also gather in smaller groups across London throughout the week. These groups meet in homes and offices to eat together and study the bible together. These are places where anyone and everyone can find community and grow in faith.
As a church we continue to work in partnership with Chalk Farm Salvation Army where we have served the homeless and vulnerable of our city for many years, primarily through providing volunteers for a Monday night drop in, where a hot meal is served as well as access to showers and a regular haircut. This is a practical and impactful way that we have fulfilled our mission in London.
Page 2
Most of the charity’s activities are undertaken by volunteers, and the charity could not operate effectively without their efforts. In planning activities, the Trustees have applied the guidance on public benefit issued by the Charity Commission.
## **Structure, Governance and Management**
Responsibility for setting policy and for determining the parameters within which the charity should operate rests with the trustees who meet regularly to monitor the activities of the charity. Responsibility for the day-to-day operation of the charity has been delegated to a senior management team led by the Community Pastors. New trustees are recruited and appointed by the existing trustees, by a majority vote.
## **Financial review**
During the year income decreased by £4,000 to £170,000, and expenditure increased by £30,000 to £185,000. As a result the charity has reported a deficit of £15,000 (2023: a surplus of £19,000) and the charity's net assets decreased by £15,000 to £135,000. Net assets comprised cash of £127,000, debtors of £25,000, £21,000 of which is for gift aid recoverable, and current liabilities of £17,000.
## **Reserves policy**
The trustees have determined that the charity should aim to hold unrestricted cash of no less than £50,000 so that the charity could continue to operate smoothly should income and / or expenditure vary unexpectedly. At the year end the charity held unrestricted cash of £90,000 and the charity is complying with its reserves policy.
## **Key risks and uncertainties**
review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.
## **Responsibilities of trustees under company law**
statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:
1. Select suitable accounting policies and apply them consistently;
2. Observe the methods and principles in the Charities SORP;
3. Make judgements and estimates that are reasonable and prudent;
4. State whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
5. presume that the charity will continue in operation.
Page 3
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Approval**
This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the trustees and signed on their behalf by:
## Matthew Sadler
Matthew Sadler (Oct 29, 2025 16:00:06 GMT)
Matthew Sadler – trustee
Date: Oct 29, 2025
Page 4
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **LIBERTY CHURCH LONDON ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024 on pages 6 to 14 following, which have been prepared on the basis of the accounting policies set out on pages 8 and 9.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company 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 your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the 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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts 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 accounts 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 accounts to be reached.
## Sarah Crispin
Sarah Crispin (Oct 30, 2025 17:00:37 GMT)
Sarah Crispin ACA Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: Oct 30, 2025
Page 5
## **LIBERTY CHURCH LONDON**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Investment income: interest
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities
4
**Total expenditure**
**Net income/(expenditure)**
**Transfers between funds**
10
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
10|Unrestricted
Funds
£
141,805
6,778
148,583
162,940
162,940
(14,357)
-
(14,357)
112,427
98,070|Restricted
Funds
£
21,322
-
21,322
21,827
21,827
(505)
-
(505)
37,655
37,150|Total
2024
£
163,127
6,778
169,905
184,767
184,767
(14,862)
-
(14,862)
150,082
135,220|Total
2023
£
173,430
561|
|---|---|---|---|---|
|||||173,992|
|||||155,163|
|||||155,163|
||||||
|||||18,829
-|
|||||18,829
131,253|
|||||150,082|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.
The notes on pages 8 to 13 form part of these accounts.
Page 6
## **LIBERTY CHURCH LONDON**
## **BALANCE SHEET**
## **AS AT 31 DECEMBER 2024**
|Note
**FIXED ASSETS**
Tangible assets
6
**CURRENT ASSETS**
Debtors
7
Cash at bank and in hand
8
**CREDITORS: Amounts falling**
**due within one year**
9
**Net current assets / (liabilities)**
**TOTAL NET ASSETS**
**FUND BALANCES**
10
General unrestricted funds
Designated funds
Restricted Funds|Unrestricted
Funds
£
-
-
25,164
89,785
114,948
(16,879)
98,070
98,070
77,295
20,775
98,070
-
98,070|Restricted
Funds
£
-
-
-
37,150
37,150
-
37,150
37,150
-
-
-
37,150
37,150|Total
2024
£
-
-
25,164
126,935
152,099
(16,879)
135,220
135,220
77,295
20,775
98,070
37,150
135,220|Total
2023
£
4,576|
|---|---|---|---|---|
|||||4,576|
|||||115,323
65,808|
|||||181,131
(35,626)|
|||||145,505|
|||||150,082|
|||||112,427
-|
|||||107,248
37,655|
|||||150,082|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.
The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for:
- (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its net income or expenditure for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Board of Directors and were signed on its behalf by:
Matthew Sadler Matthew Sadler (Oct 29, 2025 16:00:06 GMT) Oct 29, 2025 ----------------------------------------------------------------------------Matthew Sadler - trustee Date
Company number: 08615779
Charity number: 1154877
The notes on pages 8 to 13 form part of these accounts.
Page 7
## **LIBERTY CHURCH LONDON NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1 Statutory Information**
The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.
## **2 Accounting Policies**
These financial statements are prepared on a going concern basis, under the historical cost convention.
These financial statements 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) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The principles adopted in the preparation of the financial statements are set out below.
a) Going concern The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
- b) Income Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from donations and legacies includes recoverable gift aid, which is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.
- The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.
- c) Expenditure Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
- The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
## d) Fund accounting
- General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
## e) Tangible fixed assets
- Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000. and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective, depreciation is charged at the following rates:
## Equipment Over 3 to 7 years
The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.
Page 8
## **LIBERTY CHURCH LONDON**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2 Accounting Policies continued**
f) Pension scheme arrangements The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
g) Taxation The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
h) Financial instruments The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive).
i) Foreign currency translation These financial statements are presented in sterling, which is the charity's functional currency. i) Income and expenditure denominated in a foreign currency is translated into sterling at the exchange rate prevailing on the date of the transaction. ii) Monetary assets and liabilities denominated in a foreign currency are re-translated at the exchange rate prevailing at the balance sheet date. iii) Non-monetary assets are measured at historic cost at the rate of exchange prevailing on the date of the transaction and are not subsequently re-translated.
All differences arising from the application of the above policy are charged (or credited) to the Statement of Financial Activities.
## j) Exemption from preparing a cashflow statement
The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.
k) Critical accounting estimates and areas of judgement The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.
## **3 Donations and legacies**
|**ations and legacies**|||
|---|---|---|
|Donations of cash and similar
Grants from other churches
Gift aid recoverable|2024
£
115,409
21,322
26,397
163,127|2023
£
127,216
21,207
25,008|
|||173,430|
|**4**
**Charitable expenditure**
Staff costs
Venue hire
Ministry and other meeting expenses
Administrative expenses
Administrative support, including accounting services
Insurance
Depreciation
Governance: Independent examiner's fee for preparing and examining the accounts
Grants payable (see below for details)|2024
£
78,723
46,436
8,982
8,253
14,913
1,851
4,576
2,940
166,674
18,093
184,767|2023
£
71,780
43,575
11,246
8,092
5,608
1,565
6,839
3,240|
|---|---|---|
|||151,944
3,219|
|||155,163|
The fee payable to the independent examiner for assisting with the preparation of the accounts and examining them was £2,940 (2023: £3,240); in addition the charity paid £610 (2023: £776) to Stewardship for payroll bureau and consultancy services.
Page 9
## **LIBERTY CHURCH LONDON**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
## **4 Charitable expenditure continued**
## **Grants payable**
Further information regarding the grants paid by the charity is given below:
|**Grants payable**
Further information regarding the grants paid by the charity is given below:||||
|---|---|---|---|
|Grants for UK and overseas mission
Grants for the relief of poverty
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
Grants for the relief of poverty
The charity's principal grants to institutions comprised:
Association of Related Churches
Liberty Global|Institutions
£
17,588
-
17,588
Institutions
£
1,116
-
1,116|Individuals
£
-
505
505
Individuals
£
1,300
803
2,103
2024
£
-
17,588
17,588|2024
£
17,588
505|
||||18,093|
||||2023
£
2,416
803|
||||3,219|
||||2023
£
1,116
-|
||||1,116|
## **5 Analysis of staff costs, the cost of key management personnel and trustee remuneration**
The average monthly number of employees during the year was 2 (2023: 2). Most of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum.
The charity's key management comprise the trustees and the key staff named on the Company Information page. Total employment benefits payable to key management for the year were as follows:
|Natasha Pettman (who is married to Jonathan Pettman)
Jonathan Pettman, who is also a trustee
Jonathan Pettman, who is also a trustee|Gross salary
51,975
19,250
71,225
Gross salary
47,250|Employer
pension
contributions
1,731
394
2,125
Employer
pension
contributions
1,640|2024
Total
£|
|---|---|---|---|
||||53,706
19,644|
||||73,350|
||||2023
Total
£|
||||48,890|
Jonathan Pettman serves as a church leader and received the above payments for serving in that capacity, not for serving as a trustee; these payments are permitted by the charity's governing document.
Page 10
## **LIBERTY CHURCH LONDON**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
## **6 Tangible fixed assets**
|Cost
At 1st January 2024
Additions in year
At 31st December 2024
Accumulated depreciation
At 1st January 2024
Charge for the year
At 31st December 2024
Net book value
At 31st December 2024
At 31st December 2023
**7**
**Debtors**
Gift aid recoverable
Prepayments and accrued income
Amounts owed by Liberty Church in New York
**8**
**Cash at Bank and in Hand**
Cash at bank with immediate access
**9**
**Creditors: liabilities falling due within one year**
Other creditors
Accruals
Amounts owed to Liberty Church in New York|Equipment
£
40,334
-
40,334
35,758
4,576
40,334
-
4,576
2024
£
20,578
4,564
20
25,164
2024
£
126,935
2024
£
13,999
2,880
-
16,879|Total
2024
£
40,334
-|
|---|---|---|
|||40,334|
|||35,758
4,576|
|||40,334|
|||-|
|||4,576|
|||2023
£
110,479
4,844
-|
|||115,323|
|||2023
£
65,808|
|||2023
£
11,335
2,880
21,411|
|||35,626|
Page 11
## **LIBERTY CHURCH LONDON**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
## **10 Funds**
During the year the movements in the charity's funds were as follows:
|_Restricted Funds_
Legacy fund
Mission fund
Benevolence fund
Vision fund
Church worker fund
_General Unrestricted Funds_
_Designated Funds_
Vision fund
Total Unrestricted Funds
Aggregate of funds|Opening
balance
2024
£
10,043
5,573
4,666
17,374
-
37,655
112,427
-
112,427
150,082|Incoming
resources
2024
£
-
-
-
-
21,322
21,322
127,808
20,775
148,583
169,905|Outgoing
resources
2024
£
-
-
(505)
-
(21,322)
(21,827)
(162,940)
-
(162,940)
(184,767)|Transfers
in the period
2024
£
-
-
-
-
-
-
-
-
-
-|Closing
balance
2024
£
10,043
5,573
4,161
17,374
-|
|---|---|---|---|---|---|
||||||37,150
77,295
20,775|
||||||98,070|
||||||135,220|
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
|**lysis of net assets by fund**
assets and liabilities of the various funds were as follows:|||||
|---|---|---|---|---|
|Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year|General
funds
£
-
25,164
69,010
(16,879)
77,295|Designated
funds
£
-
-
20,775
-
20,775|Restricted
funds
£
-
-
37,150
-
37,150|Total
2024
£
-
25,164
126,935
(16,879)|
|||||135,220|
In the previous year the movements in the charity's funds were as follows:
|_Restricted funds_
Legacy fund
Mission fund
Benevolence fund
Vision fund
Church worker fund
Outreach fund
General unrestricted Funds
Aggregate of funds|Opening
balance
2023
£
10,043
6,548
5,294
2,985
1,863
-
26,732
104,521
131,252|Incoming
resources
2023
£
-
-
175
15,139
21,207
1,070
37,591
136,401
173,992|Outgoing
resources
2023
£
-
(975)
(803)
(750)
(23,071)
(1,070)
(26,668)
(128,494)
(155,163)|Transfers
in the period
2023
£
-
-
-
-
-
-
-
-
-|Closing
balance
2023
£
10,043
5,573
4,666
17,374
-
-|
|---|---|---|---|---|---|
||||||37,655
112,427|
||||||150,082|
Page 12
## **LIBERTY CHURCH LONDON**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
## **10 Funds continued**
## **Analysis of net assets by fund**
The assets and liabilities of the various funds were as follows:
|**lysis of net assets by fund**
assets and liabilities of the various funds were as follows:||||
|---|---|---|---|
|Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year|Unrestricted
funds
£
4,576
92,148
51,329
(35,626)
112,427|Restricted
funds
£
-
23,175
14,479
-
37,655|Total
2023
£
4,576
115,323
65,808
(35,626)|
||||150,082|
The restricted **Legacy** fund was created from donations received so that the charity could make grants to Liberty Church in New York to help fund various initiatives that advance the Christian faith.
The restricted **Mission** fund was created from donations received to help make grants to support mission activities overseas. The restricted **Benevolence** fund was created from donations received to help those facing hardship.
The restricted **Vision** fund was created from donations received in response to appeal for donations for specific projects.
The restricted **Church worker** fund was created from grants received to help fund the employment of staff.
The restricted **Outreach** fund was created from donations received to help support a variety of community outreach projects.
## **11 Transactions with related parties**
## _**Relationship with Liberty Church in New York City**_
Liberty Church London is part of a network of churches headed by Liberty Church, in New York City, collectively referred to as Liberty Church. Liberty Church, in New York City, provides spiritual oversight, and some of Liberty Church London's trustees are board members of Liberty Church, in New York City. Whenever it is appropriate to do so, we seek to minimise costs by using best practice and operating policies developed by Liberty Church, in New York City, and tailoring them for Liberty Church London's specific needs and requirements. Liberty Church London works in partnership with Liberty Church, in New York City, but that charity does not control Liberty Church London and Liberty Church London may freely pursue its own separate interests.
In the previous year the charity paid £5,608 (2024: £nil) to Liberty Church in New York for administrative support and accounting services.
At the year end the charity owed £nil to Liberty Church in New York (2023: £21,411).
## _**Other transactions with related parties**_
During the year the charity:
- a) paid grants totalling £nil (2023: £1,300) to Gethin Amoss, who is a trustee. Gethin received these grants to support his missionary work in eSwatini, not for his services as a trustee. These payments are permitted by the charity's governing document.
- b) received donations totalling £22,915 (2023: £29,286) from related parties (which includes trustees, any other members of key management and anyone closely connected to them).
Except for the reimbursement of expenses incurred when acting as agent for the charity, no expenses were paid to (or for) the trustees.
Except as disclosed in note 5 'Analysis of staff costs', there have been no other transactions with related parties.
## **12 Members**
Each member of the company commits to contribute if the charity is wound up an amount of £1.
Page 13
## **LIBERTY CHURCH LONDON**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
|Note
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Investments
**Total income and endowments**
**EXPENDITURE ON:**
Charitable activities
4
**Total Expenditure**
**Net income/(expenditure)**
**Transfers between funds**
10
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
10||Unrestricted
Funds
2024
£
121,030
6,778
127,808
162,940
162,940
(35,132)
-
(35,132)
112,427
77,295|Designated
2024
£
20,775
-
20,775
-
-
20,775
-
20,775
-
20,775|Restricted
Funds
2024
£
21,322
-
21,322
21,827
21,827
(505)
-
(505)
37,655
37,150|Total
2024
£
163,127
6,778
169,905
184,767
184,767
(14,862)
-
(14,862)
150,082
135,220|||Unrestricted
Funds
2023
£
135,839
561
136,401
128,494
128,494
7,906
-
7,906
104,521
112,427|Restricted
Funds
2023
£
37,591
-
37,591
26,668
26,668
10,923
-
10,923
26,732
37,655|Total
2023
£
173,430
561
173,992
155,163
155,163
18,829
-
18,829
131,253
150,082|
|---|---|---|---|---|---|---|---|---|---|---|
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