REGISTERED COMPANY NUMBER: OS516571 (England and Wale5) REGISTERED CHARITY NUMBER: 11675ZS Report of the Trustees and Unaudlted Flnancial Statements for the Year Ended 31 March 2024 for De5tlny Llfe Church Ltd Ward Goodman Audii Services Lid 4 Cedai. Park Fcimdown Indusiri81 Estaie Wimborne Dorset BH217SF Destiny Life Church Ltd Contents of the Flnanclal Statement5 for the Year Ended 31 MArch 2024 Page Report of the Trustees Independent E%amin¢r's Report Stalemenl of Flnwnclwl Actlvities Balance Sheet Notes to the Flnfinclal Statements 10 10 20 Destlny Llfe Church Ltd (Registered number: 055J6571) Report of the Trustees for the Yeir Ended 31 March 2024 The twsiees who are also dirccloi's of Ihc charity for the puo)oscs of ihc Companies Act 2Th)6, present Ihcii. )rport wilh the rinaneial siateincnls of ihe chariry for the year ended 31 March 2024. Thc tiuslccs havc adopied the provisions or Accounting and Rcpoi'ling by Charilies.. Statement of Rccommcnded Praclicc applicable to charities preparing their accounis in accordance with ihe Financial Reporting Standard applicable in ihe UK and Republic of Ircland IFRS 102) (cffectivc I January 20191. The Iruslccs of Dcsliny Life Chuirh have the responsibility of co-operating with thc Scnior Pastors. Andrcw and Alison Timms in pi'oinoling thc niission and objcclivcs of Ihc chiii'ch, Ihc pasloral and evangclistic aims of the church and it's social inieraclion wilh Ihc local commiinily and lurthcr aficld. The iruslees are directly Irsponsible for ihc assets of Ihe charity and Iheir maintenance, Ihis ￿fer8 io the building al 25a Ellioll Road. Wesi Howe Indusii'ial Eslate Boumei))ouih. The trnstees also ovciscc thc financial rcsponsibililies within ih¢ chui'ch and Ihe policy and procedui'es relating to safeguarding and charitable i)bli8ations. OBJECTIVES AND ACTIVITIES ObJectlve5 and alms Thc objcclivc% and aims of Ihc charity are conlained within our conslitulion, namely; the advancement of the Christian religion in accordance with the Slalernenl of faiih through the following Means.. l. Woi'ship. preaching and teaching of Christian doclrine and all fornis of media 2. The insliuclion and cair of Chrislians including young people and children, 3, The evan8elisin of non-chrisiians, and 4. The reliefof persons who are in conditions of need. hardship, pov¢rty oi. who ar¢ aged or sick. The charity operates in Dorset and abroad and is linked with other ch8ri1ies wilh similai. objeciives. The pr¢inises ai 25a Elliott lioad is Ihc main hiib of thc church and is whcr¢ mosi activities lake place and iherefore il is important thc Iru51ee5 mainlain the fabric of Ihe church complex. Publ1¢ benefit TNstees have had regard 10 the Charity Commission guidance on public ixnefit and inforniation of how Ihe church 0￿rat¢S for Ihe public benelil can be found in the Achievenienls and Pcrfonnancc section of Ihc rep)rt. Pag¢ I Destiny Llfe Chureh Ltd {Reglstered number: 05516571) Report of the Trustees for the Year Ended 31 March 2024 ACHIEVEMENT AND PERFORMAiYCE Charitable activilie$ Destiny Life Church ha5 continued io reeslablish activities and comniunilics within the church troin 2023 iii to 2024. Thc Charity continucs lo prcach thc gospel and provide education and training hcrc in Bouinemouih and in Bulgaria. The cong￿gatiOll remains at about 65 pcople allcnding lh¢ Sunday scrvice. with a lolal congiEgaiioii of about 85 people. This has. bcen rcfleeted in Ihe iiihes and offei'ings and the allcndancc al Ihc Iraining courses run within Ihc church. Acllvldes outslde of Sunday Serviee Connect Groups - these ai'c mcelings outside the Sunday service where peoplc connect Ihn)Ligh a common goal. The groups all havc a social aspect as well as a Icaching of the Biblc and encouraging aspect lo help members of the church grow in their faith and belong 10 a cominuniiy. The differeni types of groups would bc a place to connecl for women, for men and for those over 60. A gix)up foi. those between 18 and 40 and a very successful family fun day in the summei. whei'e all the Chui'ch along with friends and family look part in an afternoon of t.un and games. Bible leachin8 lakes place every Monday night, called Bible Connect and ranges between 14 and 30 people depending on commitments. Many subjects havc been laught and thei'e ale people attendin8 from other churches. The idea of advertisin8 on social media outsidc ihe church is being toyed with since the numbers seem 10 be ￿'oWIng. Mlsslon and Evangellsm Desiiny Life Church reit)ain in partnership with Radiant Encounter Minislries {re8iStered Charity - 11658071 the woll( began wilh supporting a Romany Comtnunity of 5.000 wplc in the heart of Biilgaria. The work has expanded lo oiher areas of the country, Plovdiv and Slai'a Zagora. The work centres around helping children and disadvantaged people providing relief and support. Destiny Life Church are also linked with Calvary Faith Minisli'ics, which is based in India and comes under the Elim Pentecostal denomination. Calvary Faith Ministries is a group of IIJO churches and DLC will provide leaching, training, and further cducalional support. DLC are looking lo run some outreach courses lo the l(Kal aira such as the Alpha course, FINANCIAL REVIEW Flnanclal posltlon Desliiiy Life Church is dependent on the financial 8en¢rosily of those who attend the church in the form of liihes and offerings. 11 is upon this incomc that the trnsiees base (heir forecasl lor Ihe yeai.. Any individual gifts above this ar¢ not accourjled for in Ihe nonnal giving in the church. At the year end the Church had a nel income of £38,377 before deprecialion char8es of £25.275 resulting in a nei income for the year of £13,102 (2023 net eXp￿ndItUre of £5,015). Unreslricled reserves at the year end lotalled £617.008 (2023.. £595.324). The charilable company has negative free reserves of £249,863 as al 31 March 2024 12023 negative fl'ee reserves of £286,406). Free i'eserves air calculated by deducting fixcd asscls from Ihc unreslricted reserves held at the ycar-end. This is largely due io the value of thc property on the balance sheet. If associaied mortgagc and oihcr loans relaled to the propcity were also cxcludcd then Ihc reserves balance would be £19.734 (positive). Res¢Tves polity Dcsliny Lifc Chiii'ch aiins lo scl asidc re%eives into a rcscrvc accoiinl {savings} in order lo provide 3 months buffer to caier tor any drop in giving. Over the pei'iod of 2023 10 2024 ihis reserve has bccn used to mecl any delicils in the y&r Tr.ndcYl 31 Ilurcli 21124 Ri'%iifi'ri'(I C-lithrili niinihi'r 1()7? ?iil I:.Ilii)i R(kiil l)ursLI 141111 %l.Q ru.%tL'Lb A N l)liKLI' R¥1 A IJ 'fiiiiin S l- Ilakil. l¢ippiiiiIILLI I I ,().141 fvli'% C. I'41S'1Ill)Pi)illlLcI ?.I.1 ?41 Con)i)aii% .%ecri'tiin iidc'pendeiil Kyaminer .V¢iiil Gi)oili))iin Aiiclil SL'n 1.111 4 C'iulill. Pill'k 'Iiiiboi'iiL lJll?17SI". I'hi% r￿.￿1￿ bLLn prLP&ifL'd ii) IlLLI)IdJnLL Ii'iili Ilii 4PiLl%il pn)i i4i(Ins 111, l)Iii'i l i i)I' IhL' C I)IllPlll)IL% ALI ?IMI(I rL'laliiig ii) %inall Ll)mp4iliiC'N. Appnbi hi i)rilL'r i)I'il)L' IMbarJ ()I'iru%liL% i)ii I ru%lkX' Independent Examiner's Report to the Trllstees of Destiny Llle Churth Ltd Independenl examiner's reporl to the trustees of Destlny Llfe Church Ltd {'the Company,) I Icport lo ihc charity Iruslccs on my cxaiiiination of the accounts of th¢ Conipany for ihe ye￿. ended 31 Mai'ch 2024. Responsibilfities and basls of report As Ihe charity's irusices ot. the Company (and also lis dii'cctors tor Ihe pu￿oSe$ of cotnpniJ (11) il* IK'liJli'l) N l)i¥kLI I I'Li%liX' Destlny Llfe Church Lld Note5 to the Financial Statement5 for the Year Ended 31 March 2024 LEGAL FORM Thc company is a pi'ivale company limilcd by guaranice and trgisiercd in Eiigland dnd Wales. The menibers of ihc company are Ihc Tiiisices named on page 5. In the evenl of the company beinsi wound lip. Ihc liability in rcspccl of the guaraiil¢¢ is limitcd to £10 Irlcinbcr of thc company. Thc addr￿th5 of the rcBi%lcrcd otrice can bc found on pagc 5. ACCOUNTING POLICIES BASIS of preplrlng the fln8ndal statements The financial siaiemenis ol- Ihe Charitable company. which is a public benefit entity linder FRS 102, have becn prcparcd in accordancc with Ihc Charities SORP (FRS 1021 'Accounlin8 and Rcpoi1ing by Chariiics.. Staicmcni of Rccon)rncndLd Pi'aclice applicable lo charilics pi'cparing iheir accounls in accordance wilh Ihe Financial Reporting Slaiidai'd applicablc in Ihc UK and Rcpublic of Ircland IFRS 102) {cffcctivc l January 2019),. Financial Reporting Standard 102 'The Financial Rcporting Standard applicable in Ihc UK and Rcpiiblic ol. Ireland, and the Companies Act 2006. The financial statemenls have been prepared undei. the historical cost convcnlion. Flnanclal reportlng standard 102 - reduced dtsclosure exemptlons The charilablc coinpany has taken advantage of the following disclosure exemplion in pi'eparing Ihese finaneial sialeinenis. as pemitied by FRS 102 'The Financial Reponing Siandard applicable in the UK and Republic of Ireland,: the requireinenls of Section 7 Statcment of Cash Flows. Income All incon)e is I'ecogniscd in the Statcineni of Financial Activities once the charity has cnlitlemcnl lo the fiinds. it is probable thai ihe incoine will be received and Ihe amount Can be Ineasured reliably. For legacies. eniiilement is taken as the earlier of the date on which either.. Ihe coinpany is awaiE that piDbale has been gi'ant. the estate has been finalised and nolificalion has been madc by thc excculorfs) lo Ihc Tnjsl Ihal a dislribulion will be n)ade, or when a dislribuiion is received from Ihc eslale. Receipt of a legacy, in ivhole or in part is only considered probable when ihe amount cali bc measured irliably and the coinpany has been notified of the execuloi s inlention lo make a granling of probate, and the ¢rileriA for income i'ecognilion hav¢ not been mel, then the legacy is Ireaied as conlingenl asset and disclosed if material. Gi'aiils (including government grants) are recognised only when theit is reasojidble a&8ui'ance Ihal thc company will eomply with Ihc eonditions attached to them and Ihai the grants will be received. Grdnis Ihai are receivable as compensation t.or expenses ali'eady inCu￿¢d are recognised in the Slaiemenl of Financial Activities in the p¢riod in which Ihcy becomc rcceivable. Donalcd scrviccs of facililics are recogni5ed when the company has control over Ihe iiem, any condiiions associaied with ihe donated item have been Inel, Ihe receipt of economic benefil from Ihe use of the Company ot the ilem is probable and that cconoInic bcnefit cali bc measured reliably. In accordance wilh the Charilics SORP (FRS 102). Ihc general voliinleer liinc is not rccognised and refer lo Ihe Tiiistces" report for more infoiinalion about their conti'ibiition. Oli receipt. donated profcssional se￿IceS and donated facilities ait recognised on the basis of the valuc of Ihc gift to Ihc company which 15 the amount the compaiiy woiild have been willin8 to pay io obli¢ in services oi. faciliiies or equivaleni economic benefit on the open market. a conrsponding amouni is then rccogniscd in expcndiliiir in Ihc kxriod of ￿ceIpt. Income lax recoverable iii i'elatioii to donations rcceivcd undci- Gift Aid oi. dccds of covcnanl 15 recogniscd al ihc liinc of the donalion. Page 10 conlinucd... Destlny Llfe Church Ltd Note5 to the FinAn¢ial Statement5- continued ror the Year Ended 31 Marth 2024 ACCOULYTING POLICIES- eonllnued Income Incomc lax rccoverablc in rclaiion to investincnt incomc is reco8niscd ai the tiinc Ihc investmeiii incomc is rcccivablc. Expendilure Expendiliire is rccognised once iha'e is a legal or eonsiruciivc obligaiion io transt"ei' economic bencfil io a third party. li is probable thai a ti7nster of economi¢ bencfiis will be irquii'cd in settlement aiid Ihe aniounl ot the obli8alion can bc mcasui'cd rcliably. Expenditure is classified by activity. -rhe costs of each aciivily are Inadc up of Ihe ioial of dirca cosis and shdi'ed costs, including suppo11 cosis involved in iindertaking each aciivity. Dii'ecl cosis alli'ibulable to a singlc aclivily arc allocalcd dircctly to that activity. Shai'cd c¢Jsls which conti'ibulc to niorc Ihan onc activity and 511PPOrt C0515 which arc nol attribulablc to a siiige activity air apportioned bciwcen thosc activities on basis ¢on25islenl with the use of rcsource5. Central 51aff costs are allocaicd on thc basiti of tinie spcnl, and dcprecialion chai'ges allocalcd on the ponion of thc asset's usc. Support costs are those costs incuiTcd dirccily in suppo11 of cxpcnditui'e on Ihe objecls uf ihe company and inclu(k pIDjeci manageinenl caiTied oui cenirally. Govemance costs al'e those incurred in connection with adininislralion t.o the company and compliance with coiistitutional and slatulory requircmcnls. Charitable aclivilies and Governance costs are costs incurred on the company's opa'alions, includin8 suppo11 costs and costs relating lo the governance of the company apportioned lo charitable activities, Llabllltks and provl$l•ns Liabililies are recognised when Ihcrc is an obligaiion al the balance sheet dale as a resuli of a pasl cvenl. il is probable thai a transfer of economic benefit will be required in seltleinent. and the ainount of Ihe seiilenienl can be csliindlcd I'eliably. Liabililics arc rccogniscd at Ihc aniounl thai Ihc Loillpany 8nlicipaies il will pay lo settl¢ the dcbi or Ihe amouni it has received as advanced payments for Ihe goods or seivices it must provide. Provisions are measured al Ihc bcst eslimatc of the ainounts requiird lo scttlc Ihc obli8alion. Where Ihc effeei of the limc value of money is maierial. the provision is based on the present value of those amounts. discounted al the ore-tax discount i'ale that reflects the risks specific lo the liability. Thc unwindin8 of Ihe discounl is reco8nised wiihin ihe inieresi payable and similar charges, Tanglble tlxed assets Dcprecialion is provided ai lh¢ following annual rates in order ￿ wriie off each asset over its esiinialed useful life. Freehold pi'operty Fixtures and fillings Computer cquipineni Siraighi line ovei. 50 years 20g/o on rcdiicing balancc Sii'aighi line over 3 yeais De51iny Life Church hold a capiialisaiion policy which slates any purchase of equipment below Ihe level of £250 will not be considered as a capital addition. Tax8tlon The chariiy is exempt from corporation Lqx on its charitable aciiviiies. Fund gccountlng Unresli'icled funds can be used in accordance with Ihc charilable objectives al thc discrclion of the 11118tccs. Reslricled tuiids can only be used for pai1iculai- reslricled purposes Within the objccls of thc charity. Rcsliiclions arise when specified by Ihc donor oi. when funds al'e raised for particular restricted purp)ses, Further cxplanalion of Ihc naliirc and puwosc of cach fund is incliidcd in Ihe notes to the financial slat¢menls. Page 11 continued... Destiny Life Church Léd ]Yotes to the Financial Siatements- continued (or the YeY4r Ended 31 March 2024 ACCOUNTING POLICIES- eontinued Preparation of the accounts on a going concern basis Destiny Lifc Church rcpoi'lcd a net incomc of £13,102 for the yeai. and net Cu￿ent liabililics of £5.666 al the reporting dale. The chlirch and its Iwslees have iaken aciions to reduce any non esseniial spending in the yeai. which should secure the iiiiniediatc fiilurc of Ihc chuirh lor the ncxl 12 months and on that basis Ihc church is a going conccm. Trustees noic thai the charity holds si¥nilicani fixed asseis which could provide resources in exireme circumsiances should cash flow be turther impacl¢d. Trnsl¢es have also inadc a continucd effort into the new rinancial year lo increasc fooifall and income Slr¢am polenlial ai thc church. Revaluatlon of langlble fixed assets The coinpany has adopicd thc irvaluation niodcl lo rcvaluc items of property. plant and cquipment ivhose fair value can be measured reliably. The Itvaluaiions shall be made with Su￿1cle￿I regularity 10 ensure Ihal the caryii)g ainouni does not diller maicrially li'oin thal which would be dctem)iiicd usiiig laii. valuc al Ihc cnd of Ihc i'eportin8 pcI'iixI. The fail. value of land and buildings is usiially delern)ined from market-based evidence by appraisal that is norn)ally undertaken be professionally qualified valucis. The fail. value of iiems of plant and machinery is usually their market valiic dcteiinined by appraisal. Revalualion gains and losses are recognised in oiher comprehensive income and accumulated in equity. Interest re¢tlv8ble Interesi on ￿ndS held on deposit is included when receivable and Ihe amounl can be measU￿d reliably by the company; this is nom)ally upon noiification of Ihe ini¢resi paid or payable by the Bank. Debtors Trade and othei. debtOlB air recognised al Ihe setileinenl amounl after any Irade discount olyered. Prepayments are valued al the amount incutTed ncl of any li'adc discounts duc. CAsh al Bank And In hand Cash at bank and in hand includes cash and sho11 lem highly liquid investments with a short maturity of threc months or less from the dale of a¢quisiiion or opening of the deposit or siinilar account. Flnantial Instruments The company only has financial assets and financial liabilities of a kind that qualify as basic financial instNmenls. Basic financial inslrnments are initially recognised al Irdnsaction value and subsequenily measured ai their settlemeni value with the exception of bank loans which are Subsequently Me8SU￿ at amorlised cosl using the effective interest meth(xl. Termln74tlon Payments Tenninalion benefils are amounls payable as a result of a decision by the Church lo tenninale an employee's conlracl belore th¢ noiTral retirement dale or an fflnployee's d¢cision lo accept voluntary rediindancy and are charged on an accruals basis lo the relcvanl line in Ihc Statcment of Financial Aclivilics. Pagc 12 continued,., Destiny Life Church Ltd Notes to Ihe Flnanclal Statements - continued for Ihe Yewr Ended 31 March 2024 DOIYATIONS AND LEGACIES 2024 2023 DonaliL)ns Gift aid 80,041 10,409 76,566 9.532 90,450 86,098 (YrHER TRADING ACTIVITIES 2024 2023 Other incoi)Ic 6,588 6,262 INVESTMENT INCOME 2024 2023 Interest receivable - tradiilg 19 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Minisiiy, OLiireach cosis Renial Incoine 29,480 11,625 NET INCOMEI{EXPENDITURE) incomel(expendilure) is slaled atler charginw'(crediling).' 2024 2023 Depreciation - owned assets Hire of pl the year ended 31 March 2024. the SPOLises of Inislees reccivcd remunei'aiion of £14,952 (2023: £2,882). Page 13 continued.. Destlny Llfe Church Ltd Note5 to the Finanelal Statements- continued for the Year Ended 31 March 2024 TRUSTEES, REMUNERATION AND BENEFITS- contlnued Trusttrs, expense5 During the ycar cnded 31 March 2024 no tnislecs12023:1) were re1mbli￿ed out olpocket expcnses {2023: £1,580). STAFF COSTS 2024 2023 Wages aiid 5alari¢s Socitil sccurity cosls 34,064 31.423 81 34.064 31.504 The a￿l'age monthly niimber of employees during Ihe year was as follows.. 2024 2023 Siaff Ih¢ad ¢ouni) No employees received emoluments in excess of £60.0(M). 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricled funds Restricied funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 86,098 86.098 Charltable 74Ctlvltles Minislry, outreach costs 11,625 11,625 Other Irading aciiviiies Inveslinenl income 6,262 6,262 Total 103.990 103.990 EXPENDITURE ON Raising fiinds 14239 14,239 Charitable activities Governance cosls Ministry, oulrcach costs 2.344 79.871 2,344 92,422 12.551 Total 96,454 12,551 1 (19,005 NET INCOMEI(EXPENDITURE} 7,536 112,551) (5,015) RECONCILIATION OF FUNDS Toial flinds bi'ought forward 587,788 23.229 611,017 Page 14 continued... Des¢lny Llfe Church Ltd Notes to the Flnancial Statements- continued for the Year Ended 31 Mareh 2024 io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrcslricied Resiricicd funds funds Total funds TOTAL FUNDS CARRIED FORWARD 595,324 10.678 606.002 TANGIBLE FIXED ASSETS Fixtures and tilting.8 Frcchold propeity Compuier equipinent Totals COST Ai l April 2023 Additions 975.000 118,535 2,306 1.180 1.094.715 2.306 Al 31 March 2024 975,000 120.841 1.180 1,097,021 DEPRECIATION Ai l April 2023 Charge for ycar 103.723 20.745 98.188 4.530 1.180 203,091 25,275 Al 31 March 2024 124.468 102,718 1,180 228,366 NET BOOK VALUE Al 31 M