**REGISTERED COMPANY NUMBER: 05516571 (England and Wales) REGISTERED CHARITY NUMBER: 1167525**
**Report of the Trustees and**
**Unaudited Financial Statements**
**for the Year Ended 31 March 2021**
## **for**
**Destiny Life Church Ltd**
Ward Goodman 4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF
**Destiny Life Church Ltd**
## **Contents of the Financial Statements for the Year Ended 31 March 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**|7|to|8|
|**Notes to the Financial Statements**|9|to|20|
|**Detailed Statement of Financial Activities**|21|to|22|
## **Destiny Life Church Ltd**
## **Report of the Trustees for the Year Ended 31 March 2021**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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 trustees of Destiny Life Church have the responsibility of co-operating with the Senior Pastors, Andrew and Alison Timms in promoting the mission and objectives of the church, the pastoral and evangelistic aims of the church and it's social interaction with the local community and further afield.
The trustees are directly responsible for the assets of the charity and their maintenance, this refers to the building at 25a Elliott Road, West Howe Industrial Estate Bournemouth. The trustees also oversee the financial responsibilities within the church and the policy and procedures relating to safeguarding and charitable obligations.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objectives and aims of the charity are contained within our constitution, namely; the advancement of the Christian religion in accordance with the statement of faith through the following means:
1. Worship, preaching and teaching of Christian doctrine and all forms of media
2. The instruction and care of Christians including young people and children,
3. The evangelism of non-Christians, and
4. The relief of persons who are in conditions of need, hardship, poverty or who are aged or sick.
The charity operates in Dorset and abroad and is linked with other charities with similar objectives.
The premises at 25a Elliott Road is the main hub of the church and is where most activities take place and therefore it is important the trustees maintain the fabric of the church complex.
## **Public benefit**
Trustees have had regard to the Charity Commission guidance on public benefit and information of how the church operates for the public benefit can be found in the Achievements and Performance section of the report.
Page 1
**Destiny Life Church Ltd**
## **Report of the Trustees for the Year Ended 31 March 2021**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
For the period 1st April 2020 to 31st March 2021 the church went from a vibrant active Sunday service to the church being closed due to lockdown. The church did open for the period September 25th, 2020, to December 23rd, 2020, observing COVID-19 rules around social distancing and the wearing of face coverings. Advised risk management precautions were adhered to and a risk assessment was produced each time the government relaxed restrictions.
The church invested in broadcasting equipment - the purchase of cameras and suitable broadcast hardware and began to broadcast services on-line every Sunday. These consisted of a socially distanced worship team and one person preaching an encouraging word, all from separated areas of the auditorium. COVID-19 rules for the workplace were observed during this time.
## **Activities outside of Sunday service**
**Discipleship Courses** - The Freedom in Christ course was suspended for the duration of the lockdown period and discipleship was moved to a Wednesday evening "Bible Discussion" course via Zoom.
## **Recovery Course** - This was suspended due to lockdown
**CAP Job Club** - CAP is a nationwide Christian charity who provide debt recovery services as well as support for those coming out of debt. This was suspended due to lockdown and shortly into 2021 CAP suspended many of their services nationwide retaining only the on-line debt management service.
**Destiny Youth (DY)** - DY is for youth between 12 and 17 years of age and has grown over the year from 10 members to 25 members. Not all the youth who attend are yet attending church. Face-to face activities were suspended during lockdown and while people were restricted from meeting in groups of more than 6 were conducted via Zoom. Once restrictions were lifted allowing people to meet outside, the youth met in public areas.
**Connect Groups** - Connect groups are small groups who meet up outside of the Sunday service for fellowship, connection, and support. There are 7 main groups that meet, each is different and varied in their activities. These continued throughout the lockdown periods but moved online and were conducted through Zoom.
**18 to 30s group** - This group caters for those members of the church who are between 18 and 30ish and provide a place of relaxation, fellowship, and support. This group met online through Zoom until restrictions on numbers were lifted.
## **Mission and Evangelism**
In partnership with Radiant Encounter Ministries (registered Charity - 1165807) Destiny Life Church have become involved in supporting and helping a Romany community of 5000 people in the heart of Bulgaria. A visit to the Roma community in Kazanluk was booked to take place in April 2021. A team was due to visit Kazanluk and flights and accommodation had been booked and paid for. This visit has been postponed until after all restrictions are lifted. The flights have been banked and have a 3-year time limit and the accommodation was refunded.
Destiny Life Church provided support to the Roma community in Kazanluk during the pandemic by providing money through Radiant Encounter Ministries
## **FINANCIAL REVIEW**
## **Financial position**
Destiny Life Church is dependent on the financial generosity of those who attend the church in the form of tithes and offerings. It is upon this income that the trustees base their forecast for the year. Any individual gifts above this are not accounted for in the normal giving in the church.
At the year end the Church had a net income of £18,503 before depreciation charges of £23,193 resulting in a net expenditure for the year of £4,690 (2020 - net income of £3,707). Unrestricted reserves at the year end totalled £553,482 (2020: £541,369).
The charitable company has negative free reserves of £334,275 as at 31 March 2021 (2020 - negative free reserves of £355,300). Free reserves are calculated by deducting fixed assets from the unrestricted (and undesignated) reserves held at the year-end.
Page 2
**Destiny Life Church Ltd**
## **Report of the Trustees for the Year Ended 31 March 2021**
## **FINANCIAL REVIEW**
## **Reserves policy**
Destiny Life Church aims to set aside reserves into a reserve account (savings) in order to provide 3 months buffer to cater for any drop in giving. Over the period of 2020 to 2021 this reserve has been used to meet any deficits in the year and did not reach the limit of 3 month’s buffer. Trustees continue to monitor expenditure on a regular basis.
## **Going concern**
Trustees continue to monitor expenditure closely to ensure there are sufficient funds to cover liabilities as they fall due. Trustees also note that the charity hold significant reserves as fixed assets which contributes to significant annual depreciation charges which affect the reported surplus in the Statement of Financial Activities but not the cash balances of the charity. These assets could also provide resources in extreme circumstances should cash flow no longer be sufficient and therefore trustees consider the charity to be a going concern.
## **Financial Liability**
Since May 2019 Destiny Life Church have been undergoing an investigation by HMRC into the non-compliance of PAYE contributions by the previous senior pastor. This investigation was resolved in the year with an agreement between Destiny Life Church and HMRC being made for £5,681 to be paid by March 2022.
## **FUTURE PLANS**
For the period 23rd December through to June 2021 the church was closed following a member of the congregation contracting COVID-19 in their workplace and self-isolating. Several members of the team were "pinged" through the NHS app as having contact during the week. Due to this it was decided following consultation with the trustees to close the church to face-to-face meetings and everything moved on-line.
This meant the Christmas services were cancelled along with the Easter service for 2021.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Recruitment and appointment of new trustees**
The church holds a family or financial update evening and promotes their need for a new trustee. The church asks its members to email the office with their nominations of people they think would appropriate or if they would like to nominate themselves to be a trustee. Potential candidates are interviewed by the chair and secretary of the board of trustees. The successful candidates are voted in at a trustee meeting.
## **Decision making**
The senior leadership team for the church changed and reduced from 8 members to 4 following the other 4 members, husband and wife teams moving on to other things. This has not affected the drive and vision of the leadership and the goal is to find other members who are willing and able to step up. The Senior Leadership Team led by the senior pastors are responsible for the spiritual direction and vision of the church and the trustees are fully behind the vision and direction of the church.
The trustees were meeting in person every month to ensure all policies and procedures were updated and reviewed and that all financial responsibilities have been carried out. This was reduced in September to every quarter.
## **Relationships with other churches and charities**
Destiny Life Church is in relationship with at least 10 other churches in the area being an active member of a Senior Pastors group that meet in the city centre at a Holy Trinity Brompton church plant in a group of 12 other pasters. We also have links with a smaller pastors connect group for the west side of the city and have links with several charities who are based in the area, the main link being with a charity called Faithworks Wessex (Charity number - 1086250).
All connections were maintained throughout lockdown and connections were made via Zoom.
Destiny Life Church is also linked with Radiant Encounter Ministries, as stated above, the founders of this charity are members of the church.
Page 3
**Destiny Life Church Ltd**
## **Report of the Trustees for the Year Ended 31 March 2021**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
05516571 (England and Wales)
## **Registered Charity number**
1167525
## **Registered office**
25A Elliot Road West Howe Industrial Estate Bournemouth Dorset BH11 8LQ
## **Trustees**
A N Dicker R R Nash (resigned 16 November 2020) J J Sullivan Rev A P Timms R Dendle (resigned 14 June 2021) B Dowling (appointed 3 August 2021)
## **Company Secretary**
Rev A P Timms
## **Independent Examiner**
Ward Goodman 4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Rev A P Timms - Trustee
Page 4
**Independent Examiner's Report to the Trustees of Destiny Life Church Ltd**
## **Independent examiner's report to the trustees of Destiny Life Church Ltd ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
## **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.
Miss Jen Richardson BA (Hons) ACA FCCA DChA Ward Goodman 4 Cedar Park Cobham Road Ferndown Industrial Estate Wimborne Dorset BH21 7SF
Date: .............................................
Page 5
## **Destiny Life Church Ltd**
## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2021**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
86,427
**Charitable activities**
6
Ministry, outreach costs
1,600
Other trading activities
4
1,600
Investment income
5
2
Other income
1,401
**Total**
91,030
**EXPENDITURE ON**
Raising funds
14,338
**Charitable activities**
Governance costs
2,837
Ministry, outreach costs
57,405
Support costs
4,337
**Total**
78,917
**NET INCOME/(EXPENDITURE)**
12,113
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
541,369
**TOTAL FUNDS CARRIED FORWARD**
553,482|Restricted
funds
£
1,160
-
-
-
-
1,160
-
-
17,963
-
17,963
(16,803)
53,715
36,912|2021
Total
funds
£
87,587
1,600
1,600
2
1,401
92,190
14,338
2,837
75,368
4,337
96,880
(4,690)
595,084
590,394|2020
Total
funds
£
96,421
4,059
-
5
-|
|---|---|---|---|
||||100,485
16,159
3,820
40,531
36,268|
||||96,778|
||||3,707
591,377|
||||595,084|
The notes form part of these financial statements
Page 6
## **Destiny Life Church Ltd**
## **Balance Sheet 31 March 2021**
|Notes
**FIXED ASSETS**
Tangible assets
11
**CURRENT ASSETS**
Debtors
12
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
13
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
14
**NET ASSETS**
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
funds
£
887,756
5,456
15,247
20,703
(33,946)
(13,243)
874,513
(321,032)
553,481|Restricted
funds
£
35,432
-
1,481
1,481
-
1,481
36,913
-
36,913|2021
Total
funds
£
923,188
5,456
16,728
22,184
(33,946)
(11,762)
911,426
(321,032)
590,394
553,481
36,913
590,394|2020
Total
funds
£
945,332
2,562
23,846
26,408
(31,491)
(5,083)
940,249
(345,165)
595,084
541,369
53,715
595,084|
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that 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 surplus or deficit 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 notes form part of these financial statements
continued...
Page 7
**Destiny Life Church Ltd**
## **Balance Sheet - continued 31 March 2021**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. J J Sullivan - Trustee
The notes form part of these financial statements
Page 8
**Destiny Life Church Ltd**
## **Notes to the Financial Statements for the Year Ended 31 March 2021**
## **1. LEGAL FORM**
The company is a private company limited by guarantee and registered in England and Wales. The members of the company are the Trustees named on page 4. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company. The address of the registered office can be found on page 4.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been grant, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as contingent asset and disclosed if material.
Grants (including government grants) are recognised only when there is reasonable assurance that the company will comply with the conditions attached to them and that the grants will be received. Grants that are receivable as compensation for expenses already incurred are recognised in the Statement of Financial Activities in the period in which they become receivable.
Donated services of facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refer to the Trustees'' report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
continued...
Page 9
**Destiny Life Church Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **2. ACCOUNTING POLICIES - continued**
## **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a singe activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out centrally. Governance costs are those incurred in connection with administration fo the company and compliance with constitutional and statutory requirements.
Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
## **Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the ore-tax discount rate that reflects the risks specific to the liability, The unwinding of the discount is recognised within the interest payable and similar charges.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
- Freehold property - Straight line over 50 years Fixtures and fittings - 20% on reducing balance Computer equipment - Straight line over 3 years
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 10
**Destiny Life Church Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **2. ACCOUNTING POLICIES - continued**
## **Preparation of the accounts on a going concern basis**
Destiny Life Church reported a net expenditure of £4,690 for the year and net current liabilities of £11,762 at the reporting date. The church and its trustees have taken actions to reduce any non essential spending in the year which should secure the immediate future of the church for the next 12 months and on that basis the church is a going concern. The church has been impacted by the Covid pandemic post year end and while this has influenced the income recieved via donations (which is the largest source of church income), sufficient donations have been received to ensure the church can cover its liabilities and donations received year on year have held up better than may have been expected despite the restrictions imposed on holding services in the year. Trustees also note that the charity holds significant fixed assets which could provide resources in extreme circumstances should cash flow be further impacted.
## **Revaluation of tangible fixed assets**
The company has adopted the revaluation model to revalue items of property, plant and equipment whose fair value can be measured reliably. The revaluations shall be made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period.
The fair value of land and buildings is usually determined from market-based evidence by appraisal that is normally undertaken be professionally qualified valuers. The fair value of items of plant and machinery is usually their market value determined by appraisal.
Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity.
## **Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
## **Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount incurred net of any trade discounts due.
## **Cash at Bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Financial Instruments**
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **Termination Payments**
Termination benefits are amounts payable as a result of a decision by the Church to terminate an employee's contract before the normal retirement date or an employee’s decision to accept voluntary redundancy and are charged on an accruals basis to the relevant line in the Statement of Financial Activities.
continued...
Page 11
**Destiny Life Church Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
|**3.**
**DONATIONS AND LEGACIES**
Donations
Gift aid
Grants
Grants received, included in the above, are as follows:
HMRC JRS Furlough Grants
**4.**
**OTHER TRADING ACTIVITIES**
Other income
**5.**
**INVESTMENT INCOME**
Interest receivable - trading
**6.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Church Events & Activities
Ministry, outreach costs
Rental Income
Ministry, outreach costs
Club & Group Events
Ministry, outreach costs
**7.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Hire of plant and machinery
Surplus on disposal of fixed assets
Independent examination|2021
£
73,758
11,319
2,510
87,587
2021
£
2,510
2021
£
1,600
2021
£
2
2021
£
-
1,600
-
1,600
2021
£
23,193
1,753
(1,401)
1,542|2020
£
85,546
10,875
-|
|---|---|---|
|||96,421|
|||2020
£
-
2020
£
-
2020
£
5
2020
£
864
2,615
580
4,059
2020
£
23,995
1,099
-
1,542|
continued...
Page 12
**Destiny Life Church Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
During the year ended 31 March 2021, A Timms a Trustee and Senior Pastor of Destiny Life Church recieved remuneration of £12,349 (2020: £nil).
## **Trustees' expenses**
During the year ended 31 March 2021 three trustees were reimbursed out of pocket expenses of £841 (2020: £268).
## **9. STAFF COSTS**
|Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Staff (head count)
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
89,298
**Charitable activities**
Ministry, outreach costs
4,059
Investment income
5
**Total**
93,362
**EXPENDITURE ON**
Raising funds
16,159
**Charitable activities**
Governance costs
3,820
Ministry, outreach costs
38,460
Support costs
23,092
**Total**
81,531
**NET INCOME/(EXPENDITURE)**
11,831|2021
£
25,767
22
25,789
2021
3
Restricted
funds
£
7,123
-
-
7,123
-
-
2,071
13,176
15,247
(8,124)|2020
£
16,017
-
16,017
2020
2
Total
funds
£
96,421
4,059
5|
|---|---|---|
|||100,485
16,159
3,820
40,531
36,268|
|||96,778|
|||3,707|
## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
continued...
Page 13
**Destiny Life Church Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
|**10.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -**
Unrestricted
funds
£
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
529,538
**TOTAL FUNDS CARRIED FORWARD**
541,369
**11.**
**TANGIBLE FIXED ASSETS**
Fixtures
Freehold
and
property
fittings
£
£
**COST**
At 1 April 2020
975,000
99,530
Additions
-
1,049
Disposals
-
(2,200)
At 31 March 2021
975,000
98,379
**DEPRECIATION**
At 1 April 2020
41,489
88,102
Charge for year
20,745
2,055
Eliminated on disposal
-
(2,200)
At 31 March 2021
62,234
87,957
**NET BOOK VALUE**
At 31 March 2021
912,766
10,422
At 31 March 2020
933,511
11,428
**12.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors|**continued**
Restricted
Total
funds
funds
£
£
61,839
591,377
53,715
595,084
Computer
equipment
Totals
£
£
1,180
1,075,710
-
1,049
-
(2,200)
1,180
1,074,559
787
130,378
393
23,193
-
(2,200)
1,180
151,371
-
923,188
393
945,332
2021
2020
£
£
5,456
2,562|Total
funds
£
591,377|
|---|---|---|
|||595,084|
continued...
Page 14
**Destiny Life Church Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|2021
£
Bank loans and overdrafts (see note 15)
21,177
Other loans (see note 15)
2,956
Trade creditors
1,245
Social security and other taxes
807
Other creditors
6,219
Accruals and deferred income
1,542
33,946
**14.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
2021
£
Bank loans (see note 15)
292,966
Other loans (see note 15)
28,066
321,032
**15.**
**LOANS**
An analysis of the maturity of loans is given below:
2021
£
Amounts falling due within one year on demand:
Bank loans
21,177
Other loans
2,956
24,133
Amounts falling between one and two years:
Bank loans - 1-2 years
23,146
Other loans - 1-2 years
3,045
26,191
Amounts falling due between two and five years:
Bank loans - 2-5 years
75,263
Other loans - 2-5 years
9,701
84,964
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
194,557
Other loans more 5yrs instal
15,320
209,877|2020
£
21,405
2,869
1,520
-
4,155
1,542
31,491
2020
£
314,143
31,022|2020
£
21,405
2,869
1,520
-
4,155
1,542|
|---|---|---|
|||31,491|
||345,165||
||2020
£
21,405
2,869||
||24,274||
||22,241
2,956||
||25,197||
||72,457
9,416||
||81,873||
||219,445
18,650
238,095||
continued...
Page 15
**Destiny Life Church Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **16. LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
|Within one year
Between one and five years
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
Revaluation Fund
Mission Trips (Designated)
**Restricted funds**
Building fund assets
Building fund
Boiler Fund
Cooker Fund
Building Improvement
CAP Job
Recovery Course
Mission Trips (Restricted)
**TOTAL FUNDS**|At 1.4.20
£
142,590
398,179
600
541,369
266
43,546
4,401
450
4,710
120
200
22
53,715
595,084|Net
movement
in funds
£
12,440
-
(328)
12,112
(53)
(11,896)
(880)
(90)
(3,741)
(120)
-
(22)
(16,802)
(4,690)|2021
£
939
-
939
Transfers
between
funds
£
8,848
(8,848)
-
-
-
-
-
-
-
-
-
-
-
-|2020
£
1,323
768
2,091
At
31.3.21
£
163,878
389,331
272|2020
£
1,323
768|
|---|---|---|---|---|---|
||||||2,091|
|||||553,481
213
31,650
3,521
360
969
-
200
-||
|||||36,913||
|||||590,394||
## **17. MOVEMENT IN FUNDS**
continued...
Page 16
**Destiny Life Church Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **17. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|90,530|(78,090)|12,440|
|Mission Trips (Designated)|500|(828)|(328)|
||91,030|(78,918)|12,112|
|**Restricted funds**||||
|Building fund assets|-|(53)|(53)|
|Building fund|-|(11,896)|(11,896)|
|Boiler Fund|-|(880)|(880)|
|Cooker Fund|-|(90)|(90)|
|Building Improvement|1,160|(4,901)|(3,741)|
|CAP Job|-|(120)|(120)|
|Mission Trips (Restricted)|-|(22)|(22)|
||1,160|(17,962)|(16,802)|
|**TOTAL FUNDS**|92,190|(96,880)|(4,690)|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Revaluation Fund
Tithe fund
Mission Trips (Designated)
**Restricted funds**
Building fund assets
Building fund
Boiler Fund
Cooker Fund
Building Improvement
CAP Job
Recovery Course
Mission Trips (Restricted)
**TOTAL FUNDS**|At 1.4.19
£
116,806
407,027
5,705
-
529,538
333
55,442
5,501
563
-
-
-
-
61,839
591,377|Net
movement
in funds
£
13,655
-
(1,824)
-
11,831
(67)
(11,896)
(1,100)
(113)
4,710
120
200
22
(8,124)
3,707|Transfers
between
funds
£
12,129
(8,848)
(3,881)
600
-
-
-
-
-
-
-
-
-
-
-|At
31.3.20
£
142,590
398,179
-
600|
|---|---|---|---|---|
|||||541,369
266
43,546
4,401
450
4,710
120
200
22|
|||||53,715|
|||||595,084|
continued...
Page 17
**Destiny Life Church Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **17. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Tithe fund
**Restricted funds**
Building fund assets
Building fund
Boiler Fund
Cooker Fund
Building Improvement
CAP Job
Recovery Course
Mission Trips (Restricted)
**TOTAL FUNDS**|Incoming
resources
£
93,362
-
93,362
-
-
-
-
4,710
720
200
1,493
7,123
100,485|Resources
Movement
expended
in funds
£
£
(79,707)
13,655
(1,824)
(1,824)
(81,531)
11,831
(67)
(67)
(11,896)
(11,896)
(1,100)
(1,100)
(113)
(113)
-
4,710
(600)
120
-
200
(1,471)
22
(15,247)
(8,124)
(96,778)
3,707|Resources
Movement
expended
in funds
£
£
(79,707)
13,655
(1,824)
(1,824)
(81,531)
11,831
(67)
(67)
(11,896)
(11,896)
(1,100)
(1,100)
(113)
(113)
-
4,710
(600)
120
-
200
(1,471)
22
(15,247)
(8,124)
(96,778)
3,707|
|---|---|---|---|
||||11,831
(67)
(11,896)
(1,100)
(113)
4,710
120
200
22|
||||(8,124)|
||||3,707|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Revaluation Fund
Tithe fund
Mission Trips (Designated)
**Restricted funds**
Building fund assets
Building fund
Boiler Fund
Cooker Fund
Building Improvement
Recovery Course
**TOTAL FUNDS**|At 1.4.19
£
116,806
407,027
5,705
-
529,538
333
55,442
5,501
563
-
-
61,839
591,377|Net
movement
in funds
£
26,095
-
(1,824)
(328)
23,943
(120)
(23,792)
(1,980)
(203)
969
200
(24,926)
(983)|Transfers
between
funds
£
20,977
(17,696)
(3,881)
600
-
-
-
-
-
-
-
-
-|At
31.3.21
£
163,878
389,331
-
272|
|---|---|---|---|---|
|||||553,481
213
31,650
3,521
360
969
200|
|||||36,913|
|||||590,394|
continued...
Page 18
**Destiny Life Church Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **17. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|183,892|(157,797)|26,095|
|Tithe fund|-|(1,824)|(1,824)|
|Mission Trips (Designated)|500|(828)|(328)|
||184,392|(160,449)|23,943|
|**Restricted funds**||||
|Building fund assets|-|(120)|(120)|
|Building fund|-|(23,792)|(23,792)|
|Boiler Fund|-|(1,980)|(1,980)|
|Cooker Fund|-|(203)|(203)|
|Building Improvement|5,870|(4,901)|969|
|CAP Job|720|(720)|-|
|Recovery Course|200|-|200|
|Mission Trips (Restricted)|1,493|(1,493)|-|
||8,283|(33,209)|(24,926)|
|**TOTAL FUNDS**|192,675|(193,658)|(983)|
## **Restricted Funds**
Building Fund - This fund was restricted for the initial purchase of the Church building. The restricted fund is utilised each year through depreciation costs.
Building Fund Assets - This fund relates to assets purchased with the purchase of the building. The restricted fund is utilised each year through depreciation costs.
Boiler Fund - Relates to money received for the purchase of a new Boiler. The restricted fund is utilised each year through depreciation costs.
Cooker Fund - Relates to money received for the purchase of a new Cooker. The restricted fund is utilised each year through depreciation costs.
Dishwasher Fund - Relates to money received for the purchase of a new Dishwasher. The dishwasher was purchased in the year and the fund purpose has been fully satisfied in the year.
Recovery Course - Restricted donation specifically to cover costs for a Recovery course.
CAP Job fund - This fund is restricted to pay the Christians Against Poverty subscription costs for the year.
Building improvement Fund - Restricted for works to be carried out on on the building including heating, roof, coffee shop and electrical works and other minor building works.
Mission Trips - Funds are restricted/designated to help fund mission trips in Bulgaria.
Bible School Fund - Relates to donations received for the purpose of assisting with the funding of Bible School fees for a student.
continued...
Page 19
**Destiny Life Church Ltd**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2021**
## **17. MOVEMENT IN FUNDS - continued**
## **Transfers between funds**
A transfer of funds has taken place between the General Fund and Revaluation designated fund to recognise the depreciation allocated to the Revaluation reserve in the year ended 31 March 2021.
## **18. RELATED PARTY DISCLOSURES**
During the year ended 31 March 2021 Trustees donated a total of £7,176 to Destiny Life Church (2020: £8,455).
During the year ended 31 March 2021, Mr A Timms a Trustee and Senior Pastor received amounts totalling £nil (2020: £6,504) for professional consultancy and teaching services provided to Destiny Life Church. A nil balance was outstanding at 31 March 2021.
During the year ended 31 March 2021, the son and spouse of a Trustee donated amounts totalling £2,140 in Tithe on Tithe giving (2020: £1,200).
Mrs L Foster the wife of Mr R Foster, a former Trustee, is an employee of the charity and recieved remuneration of £nil (2020: £9,000).
During the year ended 31 March 2021, a total of £3,350 (2020: £2,170) was donated to Radiant Encounter Ministries, a registered charity (Charity number: 1165807) with trustees including R Dendle and A Timms.
Page 20
**Destiny Life Church Ltd**
|**Detailed Statement of Financial Activities**
**for the Year Ended 31 March 2021**
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
Grants
**Other trading activities**
Other income
**Investment income**
Interest receivable - trading
**Charitable activities**
Church Events & Activities
Rental Income
Club & Group Events
**Other income**
Gain on sale of tangible fixed assets
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Bank loan interest
**Charitable activities**
Wages
Pensions
Equipment costs
Telephone
Postage and stationery
Sundries
Professional Fees
Insurance
Travelling expenses
Premises costs and hall hire
Camp, course & conference
Subscriptions & Sundries
Coffee shop & catering
Resource costs
Youth club expenses
Freehold property
Carried forward|2021
£
73,758
11,319
2,510
87,587
1,600
2
-
1,600
-
1,600
1,401
92,190
14,338
25,767
22
1,753
1,419
259
547
2,331
5,486
-
11,102
322
1,855
516
-
54
20,744
72,177|2020
£
85,546
10,875
-|
|---|---|---|
|||96,421
-
5
864
2,615
580|
|||4,059
-|
|||100,485
16,159
16,017
-
1,099
1,760
510
606
7,754
5,732
43
7,094
4,203
1,645
880
615
260
20,745
68,963|
This page does not form part of the statutory financial statements
Page 21
## **Destiny Life Church Ltd**
|**Detailed Statement of Financial Activities**
**for the Year Ended 31 March 2021**
**Charitable activities**
Brought forward
Fixtures and fittings
Computer equipment
Gifts & Donations
**Support costs**
**Finance**
Bank charges
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net (expenditure)/income**|2021
£
72,177
2,055
393
4,925
79,550
154
2,838
96,880
(4,690)|2020
£
68,963
2,857
393
3,994|
|---|---|---|
|||76,207
592
3,820|
|||96,778|
|||3,707|
This page does not form part of the statutory financial statements
Page 22