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2022-09-30-accounts

REGISTERED CHARITY NUMBER: 1174845

Report of the Trustees and

Financial Statements for the Year Ended 30 September 2022

for

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Owadally & King Chartered Certified Accountants & Statutory Auditors 73 Park Lane Croydon Surrey CR0 1JG

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Contents of the Financial Statements FOR THE YEAR ENDED 30 SEPTEMBER 2022

Page
Report of the Trustees 1 to 4
Report of the Independent Auditors 5 to 8
Statement of Financial Activities 9
Balance Sheet 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 21
Detailed Statement of Financial Activities 22 to 23

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2022

The trustees present their report with the financial statements of the charity for the year ended 30 September 2022. 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives of Life Tabernacle Church are to advance the Christian faith in accordance with our Statement of Beliefs in the United Kingdom and other parts of the world as the trustees may think fit and to fulfil other such purposes which are connected to charitable work of the Trust.

Significant activities

The charity seeks to support the members of the same Christian belief whose purposes include the relief of poverty; provision of assistance to those in need through age, ill-health, disability, financial hardship or other disadvantage; provision of education or the supporting of community development in the said location and in such other parts of the United Kingdom or the world as the Trustees may from time to time think fit.

The charity intends to achieve these objectives by community projects and proclamation of the faith through various outreach and community projects.

Public benefit

The charity affirms that it exists and operates exclusively for charitable purposes for the benefits of the public and to further the it’s cause in so doing by her activities and decisions in accordance with the Charity Commission’s guidance.

Page 1

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2022

ACHIEVEMENT AND PERFORMANCE

Charitable activities

In the fifth year as Chief Information Officer (CIO) of the church, overseeing all its operational facets, including personnel, volunteers, and tangible and intangible assets, proved to be invigorating as we continued to streamline management processes for our two premises post-pandemic. Throughout 2021, we revived our facilities for public functions, witnessing a gradual return to normalcy by early 2022. The Croydon and Battersea premises now operate without social distancing restrictions, although the lingering effects of the pandemic are evident, with fewer attendees opting for in-person gatherings, favoring online engagement via social media platforms for religious activities.

Notably, our 50th Church Jubilee Anniversary in March 2022 was celebrated with a commemorative service and festivities, including a members' banquet. Key achievements during this period align with our organizational objectives:

In Battersea, we introduced Spanish-speaking services alongside regular services, bolstering our social media presence, and witnessing three individuals undergoing water baptism. Despite challenges, our Living Manna services continued to offer daily prayer sessions, fostering spiritual growth locally and internationally, with testimonies of healing and revival spanning continents.

Similarly, at our Croydon premises, we seamlessly transitioned to online ministries during the pandemic, maintaining public worship with an average attendance of 55 on Sundays. Noteworthy accomplishments include baptizing ten individuals and engaging an average of 40 online viewers during midweek Bible studies. Consistent translation services to Spanish facilitated connections with Spanish-speaking families, while our Pentecostal Family Church at Labroke saw increased attendance.

Youth work thrived with weekly gatherings and significant attendance at conferences, while RHEMA HOUR TU VOZ RADIO garnered a global following, transcending borders. The inception of Northwood Church further expanded our outreach, complemented by ongoing maintenance works at our premises.

A hardship fund was established to aid members facing financial hardships exacerbated by the pandemic, reflecting our commitment to community support. Additionally, through our missions department, we provided aid to areas affected by natural disasters, embodying our ethos of global solidarity.

Community engagement remained paramount, with our premises hosting public events and maintaining online ministries beyond the pandemic. Notably, we facilitated 19 water baptisms and witnessed spiritual manifestations during virtual services, underscoring our enduring commitment to spiritual enrichment.

Fundraising activities

Some fundraising exercises were carried out to raise money for specific needs like our building project in the period. We had our building project fundraising drive from May 2021 to Dec 2021 when we encouraged members to raise fund to reduce our debt commitment through online means giving throughout the year. The aim was to raise £160k at the end of the year but only achieved £8,000 as at reporting. No further fundraising drive for the building project.

FINANCIAL REVIEW

Financial position

Total incoming resources for the year were £536,244 compared to £420,976 received in the prior year. £390,862 of this income was received from the church community as general giving (2021: £321,706).

The expenditure of resources on the church's activities during the year of £463,765 (2021: £360,485) was in line with the church's charitable aims.

Page 2

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2022

FINANCIAL REVIEW

Going concern

As of the financial year ending 30 September 2022, the financial statements of the Charity reflect current liabilities amounting to £404,028. This figure indicates that our current liabilities exceed our current assets by £338,930. Despite this, the Trustees are confident in the organization's ability to continue its operations effectively.

To address the net current liabilities and ensure continued operational stability, we have implemented several measures. A detailed cash flow projection has been developed for the next 12 months, projecting positive cash flows based on secured funding, expected grants, and planned fundraising activities. We have also negotiated extended payment terms with soft loan provider to better align with our cash inflows. Regular monitoring of cash flow against projections is being conducted, with adjustments made as necessary to ensure liquidity is maintained.

An internal review of all operational costs has been completed, resulting in a strategic reduction of non-essential expenditures.

New revenue-generating activities have been introduced, including the new tenants in James Dallas house, which are projected to generate additional income of £40,000 per annum. Existing revenue streams have been enhanced through targeted marketing and outreach efforts to increase engagement and support from our donor base. The organisation also has access to a line of credit from core members of the church, providing a financial cushion to manage any short-term cash flow challenges. A contingency plan has been developed, outlining specific actions to be taken in the event of significant deviations from the forecasted cash flows.

The Trustees believe that with these strategies in place, Life Tabernable United Pentecostal Church Trust is well-positioned to manage its financial obligations and continue its mission-driven work. Regular reviews and updates to our financial plan will be conducted to ensure ongoing financial health and responsiveness to any emerging financial challenges. The Trustees are committed to maintaining transparency and will provide further updates on our financial position and operational strategies in subsequent reports.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1174845

Principal address

32 Battersea Park Road Battersea London SW11 4HY

Trustees

Rev L Francis Chair Rev C Okala Trustee Deaconess C Smartt Trustee J Igbinoba Trustee Elder S Brown Trustee L Badenhorst Trustee Deacon D Francis Trustee Rev A Banton Trustee

Page 3

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2022

REFERENCE AND ADMINISTRATIVE DETAILS

Auditors

Owadally & King Chartered Certified Accountants & Statutory Auditors 73 Park Lane Croydon Surrey CR0 1JG

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 06 June 2024

...................................................................... Rev C Okala - Trustee

Page 4

Report of the Independent Auditors to the Trustees of Life Tabernacle United Pentecostal Church Trust

Opinion

We have audited the financial statements of Life Tabernacle United Pentecostal Church Trust (the 'charity') for the year ended 30 September 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We draw attention to the going concern note in the Trustees' report and the accounting policies in the financial statements, which indicate conditions that may cast significant doubt on the charity's ability to continue as a going concern. As stated in the going concern note and in the Trustees' report, a material uncertainty exists that may cast significant doubt on the charity's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the Trustees' assessment of the charity's ability to continue adopting the going concern basis of accounting included a review of the cash flow projection prepared by the Trustees and the resources available to fund the required minimum liabilities for the next 12 months, as well as the disclosure note in the accounting policies.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Page 5

Report of the Independent Auditors to the Trustees of Life Tabernacle United Pentecostal Church Trust

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Page 6

Report of the Independent Auditors to the Trustees of Life Tabernacle United Pentecostal Church Trust

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We designed our audit by determining materiality and assessing risks of material misstatement, including fraud, through inquiries with management about their consideration of fraud. We focused on subjective judgments in significant accounting estimates involving assumptions about uncertain future events. We also assessed potential pressures, opportunities, and motivations for fraud, identifying internal controls to mitigate related risks and reviewing management's monitoring processes. Our procedures included reviewing and testing manual journals and key estimates and judgments.

We examined the legal and regulatory framework relevant to the company and industry, considering risks of noncompliance, including fraud, with laws like FRS 102, the Copyright, Designs and Patents Act 1988, and UK tax legislation. We inquired about compliance and corroborated evidence by reviewing legal correspondence and obtaining legal letters on significant matters.

Our tests involved matching financial statement disclosures to supporting documents and management inquiries. We found no key audit matters related to irregularities or fraud. As in all audits, we addressed the risk of management override of controls by testing journals and evaluating potential biases that could lead to material misstatements due to fraud.

Our procedures acknowledged the higher risk of undetected material misstatement due to fraud compared to error, due to deliberate concealment through forgery, misrepresentation, or collusion. Despite inherent limitations in audit procedures, we aimed to identify material misstatements, recognizing that detection of non-compliance is less likely if it is not reflected in financial transactions.

For further details on our responsibilities, please visit the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This forms part of our auditor’s report.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 7

Report of the Independent Auditors to the Trustees of Life Tabernacle United Pentecostal Church Trust

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Owadally & King Chartered Certified Accountants & Statutory Auditors 73 Park Lane Croydon Surrey CR0 1JG

Date: ............................................. 07 June 2024

Page 8

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Statement of Financial Activities FOR THE YEAR ENDED 30 SEPTEMBER 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Other trading activities
3
Investment income
4
Total
EXPENDITURE ON
Raising funds
5
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2022
Unrestricted
fund
£
452,843
76,671
6,730
536,244
454,699
9,066
463,765
72,479
3,458,789
3,531,268		 2021
Total
funds
£
396,441
610
23,925
420,976
356,335
4,150
360,485
60,491
3,398,298
3,458,789

The notes form part of these financial statements

Page 9

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Balance Sheet 30 SEPTEMBER 2022

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
12
NET ASSETS
FUNDS
14
Unrestricted funds
TOTAL FUNDS		 2022
Unrestricted
fund
£
6,259,391
65,098
(404,028)
(338,930)
5,920,461
(2,389,193 )
3,531,268
3,531,268
3,531,268		 2021
Total
funds
£
6,267,627
161,966
(271,381)
(109,415)
6,158,212
(2,699,423 )
3,458,789
3,458,789
3,458,789

The financial statements were approved by the Board of Trustees and authorised for issue on 06 June 2024 ............................................. and were signed on its behalf by:

............................................. C Okala - Trustee

The notes form part of these financial statements

Page 10

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Cash Flow Statement FOR THE YEAR ENDED 30 SEPTEMBER 2022

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash provided by investing activities
Cash flows from financing activities
Bank loan repayment
Other loan repayment
Net cash used in financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2022
£
145,358
(89,153)
56,205
(5,515)
6,730
1,215
(71,888)
(82,400)
(154,288)
(96,868)
161,966
65,098		 2021
£
276,848
(78,029)
198,819
(5,861)
23,925
18,064
-
(142,765)
(142,765)
74,118
87,848
161,966

The notes form part of these financial statements

Page 11

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Notes to the Cash Flow Statement FOR THE YEAR ENDED 30 SEPTEMBER 2022

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
2022 2021
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 72,479 60,491
Adjustments for:
Depreciation charges 13,751 12,372
Interest received (6,730) (23,925)
Interest paid 89,153 78,029
(Decrease)/increase in creditors (23,295) 149,881
Net cash provided by operations 145,358 276,848
2. ANALYSIS OF CHANGES IN NET DEBT
At 1.10.21 Cash flow At 30.9.22
£ £ £
Net cash
Cash at bank and in hand 161,966 (96,868) 65,098
161,966 (96,868) 65,098
Debt
Debts falling due within 1 year (121,500) (155,942) (277,442)
Debts falling due after 1 year (2,699,423 ) 310,230 (2,389,193 )
(2,820,923 ) 154,288 (2,666,635 )
Total (2,658,957 ) 57,420 (2,601,537 )

The notes form part of these financial statements

Page 12

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Notes to the Financial Statements FOR THE YEAR ENDED 30 SEPTEMBER 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.

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.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

The charity is exempt from 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Going concern

In evaluating the financial statements of the charity for the financial year ending 30 September 2022, we have identified a material uncertainty regarding the organisation's ability to continue as a going concern. As disclosed in the Trustees' report, the charity has net current liabilities amounting to £404,028, indicating that current liabilities exceed current assets by this amount.

continued...

Page 13

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

1. ACCOUNTING POLICIES - continued

Going concern

To address this situation, the Trustees have implemented several measures, including developing a detailed cash flow projection, securing committed funding, negotiating extended payment terms, reducing non-essential expenditures, and enhancing revenue-generating activities.

Despite these proactive steps, there remains material uncertainty about the adequacy of these measures to ensure the organisation's ongoing financial stability.

However, after considering these points, the Trustees are confident in the charity's ability to maintain cash flow and continue operating for the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis.

2. DONATIONS AND LEGACIES

3.

Donations
Gift aid
Grants
Grants received, included in the above, are as follows:
Other grants
OTHER TRADING ACTIVITIES
Fundraising events
Rental Income
Parking		 2022
£
390,862
57,491
4,490
452,843
2022
£
4,490
2022
£
1,845
62,608
12,218
76,671		 2021
£
321,706
12,884
61,851		 2021
£
321,706
12,884
61,851
396,441
2021
£
61,851
2021
£
610
-
-
610

continued...

Page 14

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

4.
INVESTMENT INCOME
Curr asset inv income
5.
RAISING FUNDS
Raising donations and legacies
Hire of plant and machinery
Insurance
Light and heat
Telephone
Postage and stationery
Petrol
Travel
Maintenance
Rubbish Collection
Consultancy & Professional Fee
Computers
General Expenses
Hall Rental
Subscriptions
Admin Expenses
Ministers Tithes
Livewire
Hardship Payments
Love Offering
Loan Interest
Bank Charges
Other
Advertising
Anniversary Expenses
Depreciation
Other trading activities
Trustees' remuneration etc
Staff costs
Missions
Agent costs
Surveyor Cost
Interest payable and similar charges

Page 15

continued...

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

5. RAISING FUNDS - continued

Investment management costs
Support costs
Aggregate amounts
6.
SUPPORT COSTS
Investment management costs
Other resources expended
7.
TRUSTEES' REMUNERATION AND BENEFITS
Trustees' salaries
Trustees' social security
Trustees' pensions paid		 2022
2021
£
£
1,430
-
454,699
356,335
Governance
costs
£
1,430
9,066
10,496
2022
2021
£
£
26,976
26,976
2,597
2,862
2,400
2,400
31,973
32,238

Above remuneration is in respect of the Chairman Rev. Leroy Francis.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2022 nor for the year ended 30 September 2021.

8.
STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
General staff		 2022
£
88,888
5,222
786
94,896
2022
5		 2021
£
77,860
10,456
1,806
90,122
2021
5

No employees received emoluments in excess of £60,000.

Page 16

continued...

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activities
Investment income
Total
EXPENDITURE ON
Raising funds
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported
Prior year adjustment
As restated
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
396,441
610
23,925
420,976
356,335
4,150
360,485
60,491
3,460,783
(62,485)
3,398,298
3,458,789

continued...

Page 17

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

10. TANGIBLE FIXED ASSETS

COST
At 1 October 2021
Additions
At 30 September 2022
DEPRECIATION
At 1 October 2021
Charge for year
At 30 September 2022
NET BOOK VALUE
At 30 September 2022
At 30 September 2021		 Freehold
property
£
6,200,000
-
6,200,000
-
-
-
6,200,000
6,200,000		 Improvements
to
property
£
101,700
-
101,700
40,680
10,170
50,850
50,850
61,020		 Fixtures
and
fittings
£
8,809
-
8,809
2,202
2,202
4,404
4,405
6,607		 Computer
equipment
£
-
5,515
5,515
-
1,379
1,379
4,136
-		 Totals
£
6,310,509
5,515
6,316,024
42,882
13,751
56,633
6,259,391
6,267,627

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans and overdrafts (see note 13)
Other creditors		 2022
£
39,100
364,928
404,028		 2021
£
39,100
232,281
271,381

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Bank loans (see note 13)
Other creditors		 2022
£
2,195,193
194,000
2,389,193		 2021
£
2,267,081
432,342
2,699,423

continued...

Page 18

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

13. LOANS

An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Other loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Other loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Other loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
14.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS		 At
1.10.21
£
3,458,789
3,458,789
Incoming
resources
£
536,244
536,244		 2022
£
39,100
238,342
277,442
39,100
50,000
89,100
117,300
144,000
261,300
2,038,793
Net
movement
in funds
£
72,479
72,479
Resources
expended
£
(463,765)
(463,765)		 2021
£
39,100
82,400
121,500
39,100
238,342
277,442
117,300
194,000
311,300
2,110,681
At
30.9.22
£
3,531,268
3,531,268
Movement
in funds
£
72,479
72,479

continued...

Page 19

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Prior
At
year
1.10.20
adjustment
£
£
Unrestricted funds
General fund
3,460,783
(62,485)
TOTAL FUNDS
3,460,783
(62,485)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
420,976
TOTAL FUNDS
420,976		 Net
movement
in funds
£
60,491
60,491
Resources
expended
£
(360,485)
(360,485)		 At
30.9.21
£
3,458,789		 At
30.9.21
£
3,458,789
3,458,789
Movement
in funds
£
60,491
60,491
60,491

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At
1.10.20
£
3,460,783
3,460,783		 Prior
year
adjustment
£
(62,485)
(62,485)		 Net
movement
in funds
£
132,970
132,970		 At
30.9.22
£
3,531,268
3,531,268

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
957,220
957,220		 Resources
Movement
expended
in funds
£
£
(824,250)
132,970
(824,250)
132,970		 Resources
Movement
expended
in funds
£
£
(824,250)
132,970
(824,250)
132,970
132,970

continued...

Page 20

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 September 2022.

Page 21

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Detailed Statement of Financial Activities FOR THE YEAR ENDED 30 SEPTEMBER 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Grants
Other trading activities
Fundraising events
Rental Income
Parking
Investment income
Curr asset inv income
Total incoming resources
EXPENDITURE
Raising donations and legacies
Hire of plant and machinery
Insurance
Light and heat
Telephone
Postage and stationery
Petrol
Travel
Maintenance
Rubbish Collection
Consultancy & Professional Fee
Computers
General Expenses
Hall Rental
Subscriptions
Admin Expenses
Ministers Tithes
Livewire
Hardship Payments
Love Offering
Loan Interest
Bank Charges
Carried forward		 2022
£
390,862
57,491
4,490
452,843
1,845
62,608
12,218
76,671
6,730
536,244
1,875
16,490
28,227
4,586
2,957
2,011
5,301
5,199
3,396
30,049
8,404
-
10,044
4,068
6,364
18,867
2,064
500
18,123
16,314
2,896
187,735		 2021
£
321,706
12,884
61,851
396,441
610
-
-
610
23,925
420,976
5,447
20,926
14,316
4,879
2,262
1,680
109
8,036
3,011
30,000
1,478
497
7,613
4,642
5,161
7,912
1,000
1,000
2,773
20,619
2,924
146,285

This page does not form part of the statutory financial statements

Page 22

LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST

Detailed Statement of Financial Activities FOR THE YEAR ENDED 30 SEPTEMBER 2022

Raising donations and legacies
Brought forward
Other
Advertising
Anniversary Expenses
Improvements to property
Fixtures and fittings
Computer equipment
Other trading activities
Trustees' salaries
Trustees' social security
Trustees' pensions paid
Wages
Social security
Pensions
Missions
Agent costs
Surveyor Cost
Mortgage
Support costs
Governance costs
Auditors' remuneration
Accountancy and legal fees
Independent Examiner Fee
Total resources expended
Net income		 2022
£
187,735
17,936
50
25,646
10,170
2,202
1,379
245,118
26,976
2,597
2,400
61,912
2,625
786
9,602
12,100
-
89,153
208,151
9,000
1,496
-
10,496
463,765
72,479		 2021
£
146,285
6,233
-
-
10,170
2,202
-
164,890
26,976
2,862
2,400
50,884
7,594
1,806
4,644
11,450
4,800
78,029
191,445
-
2,500
1,650
4,150
360,485
60,491

This page does not form part of the statutory financial statements

Page 23