2022-03-31-accounts - Destiny Life Church Ltd

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

			Page
Report ofthc Trustees		I	to	4
Independent Examiner's	Report
Statcutcnt ofFinancial	Activities
Ralancc Sheet		7	to	8
Notes to the Financial Statements		9	to	20
Detailed Statement ofFinancial Activiiies		21	to	22

					2022	2021
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Notes		8
INCOME AND ENDOWMENTS	FROM
Donations and legacies			86,235	19,734	105,969	87,587
Charitable activities
Ministry, outreach costs			7,938		7,938	1,600
Other trading activities			5,407		5,407	1,600
Investment income			I		I	2
Other income			345		345	1,401
Total			99,926	19,734	119,660	92,190
EXPENDITURE ON
Raising funds			13,549		13,549	14,338
Charitable activities
Governance costs			2,064		2,064	2,837
Ministry, outreach costs			69,690	13,734	83,424	75,368
Support costs						4,337
Total			85,303	13,734	99,037	96,880
NET INCOME/(EXPENDITURE)			14,623	6,000	20,623	(4,690)
Transfers between funds		18	19,684	(19,684)
Net movement in funds			34,307	(13,684)	20,623	(4,690)
RECONCILIATION OF FUNDS
Total funds brought forward			553,481	36,913	590,394	595,084
TOTAL FUNDS CARRIED FORWARD			587,788	23,229	611,017	590,394

		31 M	arch 2022
					2022	2021
			Unrestricted	Restricted	Total	Total
			funds	fimds	funds	liinds
		Notes	8	f.	f
FIXED ASSETS
Taliglblc assets		11	893,938	22,717	91G,655	923,188
CURRENT ASSETS
Debtors		12	2,314		2,314	5,456
Cash at bank and in hand			17,244	512	17,756	16,728
			19,558	512	20,070	22,I84
CREDITORS
Amounts I'ailing duc within	one yeai	13	(30,053)		(30,053)	(33,946)
NET CURRENT ASSETS			(10,495)	512	(9,983)	(11,762)
TOTAI, ASSETSLESS	CURRENT I,IABILITIES		883,443	23,229	906,672	911,426
CREDITORS
Amounis falling due afier	more than one year	14	(29(,G55)		(295,655)	(321,032)
NET ASSETS			587,788	23,229	611,017	590,394
FUNDS
Uniestricted funds					587,788	553,481
Rcstrictcd 1'umls					23,229	36l,913
'rOTAI. FUNDS					611,017	590,394

Freehold	propeixy	Straight	line over 50 years
Fixtures	and fittings	20% on	reducing balance
Computer	equipmcnt	Straight	line ovci 3 years

DONATIONS AND LEGACIE	S
				2022	2021
				f
D011aIIel 1s Gitl aid Glalux				75,729 9,964 20,276	73,758 11,319 2,510
				105,969	87,587
Grants received, ntcluded in the above, are		as follosvs.
				2027	2021
				f.
HMRC JRS Furlough Grants Faitltworks				592 19,684	2,510
				20,276	2,510
OTHER TRADING ACTIVITIES
				2022	2021
				f.
Other income				5,407	1,600
INVESTMENT INCOME
				2022	2021
				f
Interest receivable - trading
INCOSIE FROM CHARITABLE ACTIVITIES
				2022	2021
	Activity			f.
Rental Inconte	Ministry,	outreach	costs	7,938	1,600
NET INCOME/(EXPENDITIJRE)
Net income/(expenditure) is stated	after charging/(crediting):
				2022	2021
Depreciation - owned assets Hire ofplant aml machinery Surplus on disposal offixed assets Indep codent cxaminatmn				26,699 1,195 (345) 1,740	23,193 1,753 (1,401) 1,542

STAFF COSTS
					2022		2021
					f
Wages and salaries Other pension costs					28,452 14		25,767 22
					28,466		25,789
The average monthly		number ofemployees		dul ing thc year was as follows:
					2022		2021
Staff(head count)						3	3
No employees 1eceived emohunents			in excess oi'f610,000.
COMPAIIATIVES		FOR THE STATEMENT OF FINANCIAL ACTIVITIES
				Unrestricted	Restricted		Total
				funds	funds		funds
				f.
INCOME AND ENDOV1'MENTS			FROiVI
Donations and legacies				86,427		1,160	87,587
Charitahlc activities
Ministly, outreach	costs			1,600			1,600
Other tlading activities Invcstnlcnt nicene'				1,600 2			1,600 2
Other income				1,401			1,401
Total				91,030		1,160	92,190
EXPENDITURE	ON
Raising flmds				14,338			14,338
Charitable actildties
Oovclnance costs				2,837			2,837
Ministly, outreach Suppol'1 costs		costs		57,405 4,337	17,963		75,368 4,337
Total				78,917		17,963	961,880
NET INCOME/(EXPENDITURE)				12,113	(16,803)		(4,690)

		Uniestrtcted	Restricted	Total
		funds	funds	funds
		f.
RECOiVCILIATION	OF FUNDS
Total funds brought	fomvard	541,369	53,715	595,084
TOTAI. FUNDS CARRIED FORWARD		553,482	36,912	590,394
TANGIBLE FIXED	ASSETS
		Fixtures
	Freeltold	and	Computer
	piopclfy	fittings	equipmcnt	Totals
		g	f.
COST
At I April 2021 A4iffII0Its Disposals	975,000	98,379 20,166 (810)	1,180	1,074,559 20,166 (810)
At 31 March 2022	975,000	117,735	1,180	1,093,915
DKPRECIATIOiV
At I April 2021 Charge for year Eliminated on disposal	62,234 20,744	87,957 5,955 (810)	1,180	151,371 26,699 (810)
At 31 lufarch 2022	82,978	93,102	1,180	177,260
NET BOOK VALUE
At 31 March 2022	892,022	24 633		916,655
At 31 March 2021	912,766	10,422		923,188
DFBTORS:AMOUNTS FAI.I.,ING DUE WITHIN ONK YEAR
			2022	2021
			f
Trade debtors			180
Otbci debtors			2,134	5,456
			2,314	5,456

				2022 f	2021f
Bank loans mid overdralls Other loans (sccnote 15) Trade creditors	(see	note 15)		21,32( 3,045 2,194	21,177 2,956 1,245
Social seciu.ity and other taxes Otllct' cl'editors				1,231 518	807 6,219
Accmals mul deferred income				1,740	1,542
				30,053	33,946
CREDITORSi AMOUNTS FAI.I.ING DIIEAFTER MORE THAN ONE YEAR
				2022	2021
Bank loans (sce note 15) Other loans (see note 15)				270,634 25,021	292,966 28,066
				295,655	321,032
LOANS
An analysis ofthe maturity	ofloans is given		below:
				2022	2021
				f
Amounts falling due within one year on demnnd: Bank loans Other loans				21,325 3,045	21,177 2,956
				24,370	24,133
Amowits falling between Bank loans - 1-2 years Other lonns - 1-2 years	one	and two years. ' yarns:		23,392 3,138	23,146 3,045
				26,530	26,191
Aniounts tiilling due between Bank loans —2-5 years Oilier loans -2-5 years		two and live years:		107,752 9,995	75,263 9,701
				117,747	84,964
Amounts falling due in more		tlmn five
Repayable by instalments'i Bank loans more 5 yr by instal Other loans mote Syrs instal				13'1,490 11,888 151,378	I'14 557 15,320 209,877

				2022	2021
Within one year					f 939
SECURED DEBTS
The following secured debts are included	within creditors
				2022	2021
				f	f
Bm&k loans				291 959
Lloyds Tsb Bank PLC hold 2 charges dated by Destiny Lil'e Church.		18 Novmnber	2011 and 23 )anus&y 2012	respectively over thc building own
MOVEMENT IN FUNDS
			Net	Transfers
			lnovcnlellt	between	At
			At 1.4.21 in funds f	funds f.	31.3.22
Unrestricted funds
General fund Revaluation Fund Mission Trips (Designated)			163,878 389,331 272 14,623	28,532 (8,848)	207,033 380,483 272
Rest&dated funds			553,481 14,623	19,684	587,788
Buildiug fund assets Building fund Boiler Fund Cooker Fund Building Improvmnent			213 31,650 3,521 360 96&9 (43) (11,896) (7()4) (72) (96&9)		170 19,754 2,817 288
Recove&y Course			200		200
Faithworks Capital Giant			19,684	(19,684)
			36,913 6,000	(19,684)	23,229
TOTALI'UNDS			590,394 20,623		611,017

					Incoming	Itcsources	Movement
					1esoulues	expended	in funds
					f.		f,
Uurestricted funds
General fund					99,926	(85,303)	14,623
Rcstt4cted funds
Building fund	assets					(43)	(43)
Building fund						(11,896)	(11,896)
Boil et Fund						(704)	(704)
Cooker Fund						(72)	(72)
Building Improvement					50	(1,019)	(969)
Faitbworks Capital Grant					19,C)84		19,684
					19,734	(13,734)	Ci,000
TOTALI'UNDS					119,660	(99,037)	20,623
Comparatives	for movement	in I'unds
					Nct	Transfers
					movement	between	At
			At 1.4.20		in funds	funcls	31.3,21
			f.		f.	f
Unrestricted	1'unde
Geneltll fllll(l			142,590		12,440	8,848	163,878
Revaluation Fund			398,179			(8,848)	389,331
Mission Trips	(Designated)		600		(328)		272
			541,369		12,112		553,481
IIcstrictcd funds
Building fund	assets		26G		(53)		213
Buildilig fund			43,54G		(11,896)		31,650
Boiler Fund			4,401		(880)		3,521
Cooker Fund			450		(90)		360
Buildillg Iliipi'ovcllicnt			4,710		(3,741)		969
CAP Job				120	(120)
Recovciy Course				200			200
Mission Trips	(Restricted)			22	(22)
			53,715		(16,802)		36,913
TOTAL FUNDS			595,084		(4,690)		590,394

					111C0m0Ig	Rcsoulccs	Movement
					Icsorllccs	expended	in funds
						f.
Unrestricted	t'unds
General fund					90,530	(78,090)	12,440
Mission Trips	(Designated)				500	(828)	(328)
					91,030	(78,918)	12,112
Resti4cted funds
Building fund	assets					(53)	(53)
Building fund Boiler Fund Cooker Fund						(11,896) (880) (90)	(11,896) (880) (90)
Building hnprovement CAP Job					1,160	(4,901) (120)	(3,741) (120)
Mission Trips	(Restricted)					(22)	(22)
					1,160	(17,962)	(16,802)
TOTAL FUNDS					92,190	(96,880)	(4,690)
A cumcnt year	12months	and prior year 12nlonths	combined	position	is as follows:
					Nct	Transfers
					movcnlcnt	between	At
			At	1.4.20	In lungs	funds	31.3.22
				f.	f,
Unrestricted	funds
Cleneral fund			142,590		27,063	37,380	207,033
Rcvatllatlon Fund			398,179			(17,696)	380,483
Mission Trips	(Designated)			600	(328)		272
			541,36)9		26,735	19,6)84	587,788
Restidcted t'unde
Building filnd	assets			266	(96)		170
Building fund			43,546		(23,792)		19,754
Boiler Fund			4,401		(1,584)		2,817
Cooker Fund				450	(162)		288
Building Improvement			4,710		(4,710)
CAP Job				120	(120)
Recovely Course				200			200
Mission Trips	(Restricted'I			22	(22)
Faitlnvorks Capital Grant					19,684	(19,684)
			53,715		(10,802)	(19,684)	23,229
TOTAI. FUNDS			595,084		15,933		611,017

MOVEMENT	IN I)UND	S - conflnne&l
A current year	12 months	and prior year 12 months	combined	net movcmcnt	in funds,	included	in the above	are as follows:
					Incoirnng	Resources		Movcnlcnt
					I'CSOUfCCS f	expended		in funds f
Unrestricted	funds
General fund					190,456	(163,393)		27,063
Mission Trips	(Designated)				500		(828)	(328)
					190,956	(164,221)		26,735
RestiScted funds
13uilding fund	assets						(96)	(96)
Building f'und							(23,792)	(23,792)
Boiler Fund							(1,584)	(1,584)
Cooker Fund							(162)	(162)
Building Improvement CAP Job					1,210		(5,920) (120)	(4,710) (120)
Mission Trips	(Restricted)						(22)	(22)
Faitlnvorks Capital Grant					19,684			19,684
					20,894		(31,696)	(10,802)
TOTAL FUNDS					211,850		(195,917)	15,933
Restricted Funds

		Detailed Statement ofFinancial	Activities
		for tbe Year Ended 31 March	2022
				2022	2021
				f.	f
INCOME AND ENDOWMENTS
Donations and legacies
Donatiolls				75,729	73,758
Gitt aid				9,964	11,319
(il'ants				20,2761	2,510
				105,969	87,587
Other trading activities
Other income				5,407	1,600
Iuvcsnnent income
Interest receivable - trading
Charitable activities
Rental Income				7,938	1,600
Other income
Oain on sale ol' tangible	lixed assets			345	1,401
Total incoming resources				119,660	92,190
EXPENDITURE
Other trading activities Bank loan interest				13,549	14,338
Charitable activities
Wages Pensions				28,452 14	25,767 22
Biltupnlcllt costs Telephone				1,195 1,300	1,753 1,419
Posh)ge aild slalioileiy SulldilCS				300 289	259 547
Professional Fees					2,331
Insul'ance				6,016	5,486
Premises costs and hall	hire			10,833	11,102
Camp, course & conference Subscripiions & Sundries Coffee shop &catering Youth club expenses				139 2 354 556 207	322 1,855 516 54
Freehold property Fixtures and fittings				20,744 5,956	20,744 2,055
Computer equipnlent					393
Carried fotxvard				78,355	74,625

		Detailed Statement	Activities
		for thc Year Ended 31March	2022
				2022	2021
				f,
Charitable activities
Brought fonvard				78,355	74,625
Gifts gc Donations				4,542	4,925
				82,897	79,550
Support costs
Finance
Bank charges				329	154
Governance	costs
Accountancy	ami legal fees			2,262	2,838
Total resources	expended			99,037	96,880
Net incan)e/(expenditure)				20,623	(4,6903