## **Trustees’ Annual Report for the period**
Period Start Date - From **01/10/2022** Period End Date – To **30/09/2023**
## **Charity name: LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST (LT UPC CIO)**
## **Charity registration number: 1174845**
## **Objectives and Activities**
||SORP reference||
|---|---|---|
|Summary of the
purposes of the charity
as set out in its
governing document|Para 1.17|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.|
|Summary of the main
activities in relation to
those purposes for the
public benefit, in
particular, the activities,
projects or services
identified in the
accounts.|Para 1.17 and
1.19|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|
|Statement confirming
whether the trustees
have had regard to the
guidance issued by the
Charity Commission on
public benefit|Para 1.18|The charity affirms that it exists and operates exclusively for
charitable purposes for the benefits of the public and to
further it’s cause, in so doing by her activities and decisions
in accordance with the Charity Commission’s guidance|
## **Additional information (optional)**
You may choose to include further statements where relevant about:
||SORP reference||
|---|---|---|
|Policy on grant making|Para 1.38||
|Policy on social
investment including
program related
investment|Para 1.38||
|Contribution made by
volunteers|Para 1.38||
|Other|||
## **Achievements and Performance**
||SORP reference||
|---|---|---|
|Summary of the main
achievements of the
charity, identifying the
difference the charity’s
work has made to the
circumstances of its
beneficiaries and any
wider benefits to society.|Para 1.20|The church seventh year as a CIO with the incorporation of all its
functioning arms (personnel, volunteers, and facilities both
tangible and non-tangible assets) has been invigorating as we
continue to consolidate on the management of our two premises
in Croydon and Battersea after the 2020/21 pandemic era
The Pastoral Board supports senior pastor, Bishop Leroy Francis
with the Spiritual Leadership of the Church. It consists of 13
Ministers licensed with the UPC GB&I, and 6 trainee ministers.
Daily prayer meetings are held and coordinated at 6am & 12 noon
except on weekends.
On Sundays: We have 8 services held in six separate locations
across London, each with a Pastoral Team leader that catering for
the public
Our two premises are fully available for public usage without
social distancing restrictions though the pandemic impact has
made some members to only engage with the church through the
social media angles. The percentage of the elderly that stayed
away from church have increased
We continued having dual audiences for our location-based
services on Sundays and through social media have gained a
followership.
We had 1 public wedding, 8 funerals, 4 baby dedications and 25
new memberships in the period. We had a total of 70 pupils on
average involved in our weekly Sunday school gathering in all our
churches
**OUR 51st CHURCH ANNIVERSARY**
We celebrated our 51st anniversary in March 2023 with a
commemorative services and activities in our premises from the
10th- 12th of March. It was an occasion of thanksgiving, and we
invited the local communities to celebrate with us
The main achievements during this period in meeting our stated
objectives included the following
**Our Battersea Premises**
Spanish speaking services at 3pm on Sundays
•
Regular services throughout 2023 with webcasting also.
They have seen an increase in their attendance in their
Sunday services. Average attendance on a Sunday is 120
persons
•
Social media share of participation has increased along
with interactions.
•
6 persons were water baptised
•
7 active house groups but online in operation
Living Manna services at 9.30am on Sundays
•
Average attendance is 30 persons
•
House fellowships - Twice a week in 7 different homes
•
Regular weekly prayer services were maintained and
have been beneficial to the members and the public that
joined them. To God be all the glory.
**Our Croydon Premises**
•This is our 6thyear of regular services in the main building and
have managed to transition back to full use of the facilities after
the pandemic and only use virtual ministry as supplementary or|
|in addition to the physical appearances. As a result, we have|
|---|
|more engaging members in our bible studies, outreaches and|
|prayer groups.|
|•Public worship has also been successful throughout this|
|reporting period we had an average of 65 people in the building|
|on Sundays|
|•We baptised 8 persons in water this year, with 1 person spirit|
|filled|
|•Consistent translation to Spanish has helped us connectwith|
|Spanish speaking families seeking a church in the|
|community|
|Our Pentecostal Family Church @Labroke Grove|
|•
Average attendance in the period is 57|
|•
3 persons were baptised in water|
|**Other Achievements**|
|Mental Health First Aiders – The board financially approved|
|supporting Mental Health First Aiders Programme for our|
|members to gain the skills to help people - We now have up|
|to 10 qualified MH first-aiders.|
|Youth Work - Weekly Average attendance on Fridays was 30 with|
|online presence. 4 baptised in water and 1 received the holy|
|spirit. At the youth conference, the attendance was 65 on the|
|main day|
|The RHEMA HOUR TU VOZ RADIO has regular followership|
|covering many countries outside UK including nations like|
|Spain and in South & North Americas catering for a large|
|online audience|
|•
500 views on average per week on different platforms Tu|
|Voz, Facebook, YouTube, UPCGB&I page|
|Our Northwood Church was two years old in July 2023 and have|
|regular Sunday service to meet the needs of communities in|
|Northwood and its environs.|
|•
Average attendance is 30 persons with 6 baptised in|
|water and one person filled with the holy spirit.|
|•
They have new memberships|
|**The Building Project**:|
|**Maintenance Works @ Croydon & Battersea Premises**|
|A lot of maintenance work carried out in this period to meet|
|the standard expected for the use of the premises. Some are|
|still on-going but most of the works were done by|
|professionals some by members voluntarily and some at the|
|going cost.|
|•
A team of Volunteers have worked tirelessly|
|completing maintenance work in both buildings.|
|The following works list, they saved us|
|thousands of pounds.|
|•
The Fire Alarm & Warning System in Croydon|
|upgraded to meet required Insurance and|
|building standard at a cost of over £20k|
|•
The Intruder Alarm system in Croydon was|
|upgraded to meet the standard our insurer|
|requested at a cost of about £3k|
|•
The Croydon kitchen Vents’ filters were|
|upgraded to meet the insurer’s standard for our|
|premises at a cost of over £250|
|•|The
Lightening
protection
system
was|
|---|---|
||overhauled in Croydon to meet the insurer’s|
||requirement|
|•|The shed roof covering was completed after the|
||asbestos sheets were removed some years|
||back|
|•|Environmental health tasks done for the small|
||kitchen area – Made good the ceiling after the|
||water damage, Repaired the sink kitchen|
||cabinet removed the cobwebs and cleaning the|
||whole kitchen and installed a remote-control|
||blow heater in the kitchen|
|•|The Vicarage|
||- The main entrance door realigned - Ceiling|
||damage in the front porch due to water|
||penetration from the roof repaired. – Wall|
||damage due to water penetration was repaired|
||after sealing the external areas|
|•|About 75% of the tasks were done by the|
||brethren volunteering their time and resources|
||willingly to ensure that the church is in good|
||maintenance.|
|•|From October 2022 to September 2023 the|
||following tasks were accomplished at BPR: Roof|
||leak fixed Toilet Blockage cleared in Male toilet,|
||and Ceiling tiles replaced due to roof leaks, DIY|
||tasks around the church done – Changed busted|
||main water pipe, wooden sliding doors repaired,|
||and kitchen dining area floor tiles replaced. Main|
||door area was revamped and painted|
||Roof tiles replaced and made watertight for|
||Croydon premises as well as Battersea with|
||ceiling tiles replaced also|
|•|From October 2022 to September 2023 the|
||following tasks were done at Croydon: Main|
||Sanctuary Boiler Room was flooded – New|
||Sump Pump fitted,|
||Pest Control Measures taken – Mainly in small|
||kitchen area, nursery hall, main sanctuary,|
||hallways, chapel, and the main kitchen units.|
||DIY tasks around the halls done included refitting|
||floor strips, repairing blocked men’s toilet sink,|
|•|DIY to seal leak with resin, 3 Church Wooden|
||Entrance Doors Revamped and Painted, Lower|
||Hall wooden flooring was washed and polished|
||and varnished. The Middle Hall roof guttering by|
||car park was replaced and extensive work done|
||to repair external wall as inside wall was|
||damaged due to water penetration|
- **Hardship Fund for Those in Unfortunate Situations - £205** • **Impact** Our hardship fund serves to support the members and families of Life Tabernacle who encountered financial difficulties.
Members of the entity also contributed generously towards this ministry and some families were financially supported as a result.
• **Disasters Elsewhere – Through our missions’ department** In the period we were able to raise fund for others who were at a peril because of natural disasters in their area. Members raised funds and supported such appeals at the Philippines and in South America in the period
## **Additional information (optional)**
You may choose to include further statements where relevant about:
|Achievements against
objectives set|Para 1.41|In the period we also served the community by using our
premises and/or ministers for public events including
Referendum, Voting, Community Prayer Gathering,
Community Meeting and public worship and other childcare
activities. We had church services and worship throughout
the year at the same time had live streaming for those in our
larger online community. We achieved the following
-
33 water baptisms in the period and 19 filled with the
holy spirit in the year
-
We had many off-location ministry activities such as
one-to-one, phone and online bible studies and
house fellowships all over our neighbourhoods
-
32 Borough vision to prayer for God’s presence in
our London boroughs started with organised prayer
walks in all our London boroughs where we live or
work. We prayed for our communities by praying in
groups to our streets throughout the year.
-
Tu Voz Radio service to the public continued
through Facebook and gained more audience
-
We had organised outings for the elderly folks and
home visits to the ones to frail ones
-
Our two weeks summer schemes to the young
people where they learned skills and make friends
happened on both of our Croydon and Battersea
premises and it involved day trips to farms and the
coastal towns|
|---|---|---|
|Performance of
fundraising activities
against objectives set|Para 1.41|Some fundraising exercises were carried out to raise money
for specific needs like our fire protection & intruder alarm
insurance compliance installation cost in our Croydon
premises.
MyChurch fundraising scheme raised £526 in the period|
|Investment performance
against objectives|Para 1.41||
|Other|||
## **Financial Review**
Review of the charity’s Para 1.21 financial position at the end of the period Statement explaining the Para 1.22 policy for holding reserves stating why they are held Amount of reserves held Para 1.22 Reasons for holding zero Para 1.22 reserves Details of fund materially in Para 1.24 deficit Explanation of any Para 1.23 uncertainties about the charity continuing as a going concern
## **Additional information (optional)**
You may choose to include further statements where relevant about:
|The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|**_The members’ tithes, donations and offerings_**|
|---|---|---|
|Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|**_In line with our governing document_**|
|A description of the principal
risks facing the charity|Para 1.46|**none**|
|Other|||
## **Structure, Governance and Management**
|Description of charity’s trusts:|||
|---|---|---|
|Type of governing document
(trust deed, royal charter)|Para 1.25|**Constitution**|
|How is the charity constituted?
(e.g unincorporated
association, CIO)|Para 1.25|**Incorporated (Charitable Incorporated**
**Organisation)**|
|Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of any
person or body entitled to
appoint one or more trustees|Para 1.25|(1) At the first annual general meeting of the
members of the CIO all the charity trustees shall
retire from office;
(2) At every [subsequent] annual general meeting of
the members of the CIO, one-third of the
charity trustees shall retire from office. If the number
of charity trustees is not three or a multiple
of three, then the number nearest to one-third shall
retire from office, but if there is only one
charity trustee, he or she shall retire;
(3) The charity trustees to retire by rotation shall be
those who have been longest in office since
their last appointment or reappointment. If any
trustees were last appointed or reappointed on
the same day those to retire shall (unless they
otherwise agree among themselves) be
determined by lot;
(4) The vacancies so arising may be filled by the
decision of the members at the annual general
meeting; any vacancies not filled at the annual
general meeting may be filled as provided in sub-
clause (5) of this clause;
(5) The members or the charity trustees may at any
time decide to appoint a new charity trustee,
whether in place of a charity trustee who has retired
or been removed in accordance with clause
[15] (Retirement and removal of charity trustees), or
as an additional charity trustee, provided that
the limit specified in clause [12(3)] on the number of
charity trustees would not as a result be
exceeded|
## **Additional information (optional)**
You may choose to include further statements where relevant about:
|Policies and
procedures adopted for
the induction and
training of trustees|Para 1.51||
|---|---|---|
|The charity’s
organisational structure
and any wider network
with which the charity
works|Para 1.51|**See Below Chart**|
|Relationship with any
related parties|Para 1.51|**None**|
|Other|||
## **Reference and Administrative details**
|Charity name|LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST|
|---|---|
|Other name the charity
uses|LIFE TABERNACLE UPC CIO|
|Registered charity
number|1174845|
|Charity’s principal
address|32 BATTERSEA PARK ROAD
BATTERSEA
LONDON
UK
Postcode SW11 4HY|
|||
## **Names of the charity trustees who manage the charity**
|1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not**
**for whole year**|**Name of person (or**
**body) entitled to**
**appoint trustee (ifany)**|
|---|---|---|---|---|
||Rev. Leroy Francis|Chairman/ Pastor|||
||Rev. Anthony Banton|Member/ Assistant Pastor|||
||Elder Stanley Brown|Member/ Deacon|||
||Deaconess Carol Smartt|Member/ Deaconess|||
||Deacon David Francis|Member/ Deacon|||
||Rev. Lemuel Badenhurst|Member/ Assistant Pastor|||
||Jerry Igbinoba|Member|||
||Rev. Chukwuemeka Okala|Member/Treasurer|||
||Rev Doris Perez|Member|||
||Rev Jocelyn Moreno|Member|||
||Sis. Sis Sadie Burnett|Member|||
||Sis, Niki Okala|Member|||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
**Corporate trustees** – names of the directors at the date the report was approved
|**Director name**|||
|---|---|---|
|Rev. Leroy Francis|Rev. Chukwuemeka Okala||
|Rev. Anthony Banton|Bro. Jerry Igbinoba||
|Rev. Lemuel Badenhurst|Rev Doris Perez||
|Sis. Carol Smartt|Rev Jocelyn Moreno||
|Elder. Stan Brown|Sis. Sis Sadie Burnett||
|Deacon David Francis|Sis, Niki Okala||
Name of trustees holding title to property belonging to the charity
|**Trustee name**
**Dates acted if not for whole year**
**held as custodian trustees on behalf of others**|**Trustee name**|**Dates acted if not for whole year**||
|---|---|---|---|
|||||
|||||
|||||
|||||
|||||
|||||
|||||
|Description of the assets
held in this capacity||||
|Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects||||
|Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own assets||||
## **Funds held as custodian trustees on behalf of others**
## **Additional information (optional)**
## **Names and addresses of advisers (Optional information)**
|**Type of**|**Name**|**Address**|
|---|---|---|
|**adviser**|||
**Name of chief executive or names of senior staff members (Optional information)**
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
## **Other optional information**
## **Declarations**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
**Signature(s) Full name(s)** Leroy Francis **Position (eg** Chairman **Secretary, Chair, etc) Date** 8[th] Jan 2025
LEADERSHIP ORGANISATIONAL CHART 2022
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**REGISTERED CHARITY NUMBER: 1174845**
## **Report of the Trustees and**
**Audited Financial Statements for the Year Ended 30 September 2023**
## **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 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Report of the Independent Auditors**|4|to|7|
|**Statement of Financial Activities**||8||
|**Balance Sheet**||9||
|**Cash Flow Statement**||10||
|**Notes to the Cash Flow Statement**||11||
|**Notes to the Financial Statements**|12|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 2023**
The trustees present their report with the financial statements of the charity for the year ended 30 September 2023. 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 it's activities and decisions in accordance with the Charity Commission’s guidance.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
In the sixth 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.
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.
We also intend 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.
Page 1
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
**Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **FINANCIAL REVIEW**
## **Financial position**
Total incoming resources for the year were £585,214 compared to £536,244 received in the prior year. £406,654 of this income was received from the church community as general giving (2022: £390,862).
The expenditure of resources on the church's activities during the year of £500,139 (2022: £453,595) was in line with the church's charitable aims.
## **Going concern**
As of the financial year ending 30 September 2023, the financial statements of the Charity reflect current liabilities amounting to £387,425. This figure indicates that our current liabilities exceed our current assets by £305,228. 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 Tabernacle 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
Page 2
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **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
## **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
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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: 8th January 2025
...................................................................... Rev C Okala - Trustee
Page 3
**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 2023 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:
- give a true and fair view of the state of the charity's affairs as at 30 September 2023 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **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**
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.
Based on the work we have performed, we have identified material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
We draw attention to the going concern note in the Trustees' Report and the accounting policies in the financial statements, which indicate that there is material uncertainty as to whether the Charity will remain a going concern due to its net-current liabilities position of £305,228. The Trustees have implemented several measures to address this situation, as outlined in the going concern note within the Trustees' Report and accounting policies, including the preparation of a detailed cash flow projection for the next 12 months. Our opinion is not modified in respect of this matter.
## **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 4
**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:
- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **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 5
**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.
Owadally & King Chartered Certified Accountants & Statutory Auditors is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
Page 6
**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
08/01/2025 Date: .............................................
Page 7
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Statement of Financial Activities FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|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**|2023
2022
Unrestricted
Total
fund
Unrestrictedfunds
as restated
£
£
466,795
452,843
117,494
76,671
925
6,730
585,214
536,244
489,489
444,529
10,650
9,066
500,139
453,595
85,075
82,649
3,480,418
3,397,769
3,565,493
3,480,418|
|---|---|
The notes form part of these financial statements
Page 8
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Balance Sheet 30 SEPTEMBER 2023**
|Notes
11
12
13
14
16
**FIXED ASSETS**
Tangible assets
**CURRENT ASSETS**
Debtors
Cash at bank
**CREDITORS**
Amounts falling due within one year
**NET CURRENTLIABILITIES **
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
**NET ASSETS**
**FUNDS**
Unrestricted funds
**TOTAL FUNDS**|2023
Unrestricted
fund
£
6,206,985
26,491
55,706
82,197
(387,425)
(305,228)
5,901,757
(2,336,264 )
3,565,493
3,565,493
3,565,493|2022
Total
Unrestrictedfunds
as restated
£
6,208,541
-
65,098
65,098
(404,028)
(338,930)
5,869,611
(2,389,193 )
3,480,418
3,480,418
3,480,418|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. C Okala - Trustee
The notes form part of these financial statements
Page 9
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Cash Flow Statement FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|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 (used in)/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**|2023
a
£
213,632
(157,652)
55,980
(2,160)
925
(1,235)
(53,841)
(10,296)
(64,137)
(9,392)
65,098
55,706|2022
s restated
£
145,358
(89,153)
56,205
(5,515)
6,730
1,215
(71,888)
(82,400)
(154,288)
(96,868)
161,966
65,098|
|---|---|---|
The notes form part of these financial statements
Page 10
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Notes to the Cash Flow Statement FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|
|---|---|---|---|---|
||||2023|2022|
|||||as restated|
||||£|£|
||**Net income for the reporting period (as per the Statement of Financial**||||
||**Activities)**||85,075|82,649|
||**Adjustments for:**||||
||Depreciation charges||3,716|3,581|
||Interest received||(925)|(6,730)|
||Interest paid||157,652|89,153|
||Increase in debtors||(26,491)|-|
||Decrease in creditors||(5,395)|(23,295)|
||**Net cash provided by operations**||213,632|145,358|
|**2.**|**ANALYSIS OF CHANGES IN NET DEBT**||||
|||At 1.10.22|Cash flow|At 30.9.23|
|||£|£|£|
||**Net cash**||||
||Cash at bank and in hand|65,098|(9,392)|55,706|
|||65,098|(9,392)|55,706|
||**Debt**||||
||Debts falling due within 1 year|(277,442)|11,208|(266,234)|
||Debts falling due after 1 year|(2,389,193 )|52,929|(2,336,264 )|
|||(2,666,635 )|64,137|(2,602,498 )|
||**Total**|(2,601,537 )|54,745|(2,546,792 )|
The notes form part of these financial statements
Page 11
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
**Notes to the Financial Statements FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **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 costs 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.
Fixtures and Fittings: straight line over 4 years Computer Equipment: straight line over 4 years
## **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.
The trust has only unrestricted fund as at and year ended 30 September 2023 and for year ended 2022.
## **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.
continued...
Page 12
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
**Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Going concern**
In evaluating the financial statements of the charity for the financial year ending 30 September 2023, 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 £305,228, indicating that current liabilities exceed current assets by this amount.
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**
|**DONATIONS AND LEGACIES**|||
|---|---|---|
|Donations
Gift aid
Grants|2023
a
£
406,654
60,141
-
466,795|2022
s restated
£
390,862
57,491
4,490|
|||452,843|
Grants received, included in the above, are as follows:
## **3.**
|Other grants
**OTHER TRADING ACTIVITIES**
Fundraising events
Rental Income
Parking|2023
a
£
-
2023
a
£
828
107,873
8,793
117,494|2022
s restated
£
4,490
2022
s restated
£
1,845
62,608
12,218|
|---|---|---|
|||76,671|
continued...
Page 13
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **4. INVESTMENT INCOME**
|Current asset investment
**5.**
**RAISING FUNDS**
**Raising donations and legacies**
Hire of plant and machinery
Insurance
Light and heat
Telephone
Postage and stationery
Petrol
Travel
Repairs and maintenance
Rubbish Collection
Consultancy & Professional Fee
Computers
Hall Rental
Subscriptions
Admin Expenses
Ministers tithes
Livewire
Hardship payments
Love offering
Loan Interest
Bank Charges
Other
Advertising
Anniversary Expenses
Depreciation|2023
a
£
925
2023
a
£
2,844
20,117
37,902
3,559
2,473
2,906
6,434
25,008
3,002
30,045
5,614
8,703
3,255
10,554
13,632
2,187
-
5,389
2,315
3,037
19,109
466
1,817
3,716
214,084|2022
s restated
£
6,730
2022
s restated
£
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
17,936
50
25,646
3,581
234,948|
|---|---|---|
continued...
Page 14
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **5. RAISING FUNDS - continued**
|**Other trading activities**
Trustees' remuneration etc
Staff costs
Missions
Agent costs
Interest payable and similar charges
**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|2023
a
£
32,813
67,499
7,300
10,080
157,652
275,344
2023
a
£
61
489,489
Governance
Finance
costs
£
£
61
-
-
10,650
61
10,650
2023
a
£
27,787
2,626
2,400
32,813|2022
s restated
£
31,973
65,323
9,602
12,100
89,153
208,151
2022
s restated
£
1,430
444,529
Totals
£
61
10,650
10,711
2022
s restated
£
26,976
2,597
2,400
31,973|
|---|---|---|
|||s|
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 2023 nor for the year ended 30 September 2022.
Page 15
continued...
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|**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
No employees received emoluments in excess of £60,000.
**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**|2023
£
91,321
5,744
847
97,912
2023
5|2022
as restated
£
88,888
5,222
786
94,896
2022
as restated
5
Unrestricted
fund
as restated
£
452,843
76,671
6,730
536,244
444,529
9,066
453,595
82,649
3,458,789
(61,020)
3,397,769|
|---|---|---|
Page 16
continued...
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
**Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
as restated
£
3,480,418|
|---|---|
## **10. PRIOR YEAR ADJUSTMENT**
During the year, a review of the freehold land and property recognised in prior periods identified that £101,700 had been incorrectly capitalised in the accounts. This amount related to expenditure that should have been expensed as incurred in accordance with the requirements of FRS 102 Section 17 Property, Plant and Equipment.
As a result, a prior year adjustment has been made to correct this error. The adjustment has reduced the carrying amount of freehold land and property by £61,020 and increased the prior year's operating expenses by the same amount.
The impact of the adjustment is as follows:
" Statement of Financial Position: The carrying amount of freehold land and property has been reduced by £61,020 as at the beginning of the earliest comparative period presented.
" Statement of Comprehensive Income: Profit for the prior year has been reduced by £61,020, reflecting the reclassification of the expenditure from capitalised property costs to operating expenses.
" Equity: Opening retained earnings have been adjusted to reflect the decrease in net assets and increased in expenses resulting from the correction.
## **11. TANGIBLE FIXED ASSETS**
|**COST**
At 1 October 2022
Additions
At 30 September 2023
**DEPRECIATION**
At 1 October 2022
Charge for year
At 30 September 2023
**NET BOOK VALUE**
At 30 September 2023
At 30 September 2022|Freehold
property
£
6,200,000
-
6,200,000
-
-
-
6,200,000
6,200,000|Fixtures
and
fittings
£
8,809
2,160
10,969
4,404
2,337
6,741
4,228
4,405|Computer
equipment
£
5,515
-
5,515
1,379
1,379
2,758
2,757
4,136|Totals
£
6,214,324
2,160|
|---|---|---|---|---|
|||||6,216,484|
|||||5,783
3,716|
|||||9,499|
|||||6,206,985|
|||||6,208,541|
continued...
Page 17
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
**Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **11. TANGIBLE FIXED ASSETS - continued**
The financial statements include a small element of investment property within the freehold land and buildings. The trustees have reviewed the nature and scale of this investment property and have concluded that it is not material to the readers of the financial statements for the year ended 30 September 2023. Consequently, this element has not been shown separately. This approach is consistent with the trustees' assessment of the financial information's relevance and significance to stakeholders.
## **12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|2023
£
Trade debtors
26,491
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2023
£
Bank loans and overdrafts (see note 15)
38,188
Taxation and social security
45
Other creditors
349,192
387,425
**14.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
2023
£
Bank loans (see note 15)
2,142,264
Other creditors
194,000
2,336,264|2022
as restated
£
-
2022
as restated
£
39,100
-
364,928
404,028
2022
as restated
£
2,195,193
194,000
2,389,193|
|---|---|
## **15. LOANS**
An analysis of the maturity of loans is given below:
|Amounts falling due within one year on demand:
Bank loans
Other loans|2023
£
38,188
228,046
266,234|2022
as restated
£
39,100
238,342
277,442|
|---|---|---|
continued...
Page 18
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|**15.**
**LOANS - continued**
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
**16.**
**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
1.10.22
£
3,480,418
3,480,418
Incoming
resources
£
585,214
585,214|2023
£
38,188
50,000
88,188
114,564
144,000
258,564
1,989,512
Net
movement
in funds
£
85,075
85,075
Resources
expended
£
(500,139)
(500,139)|2022
as restated
£
39,100
50,000
89,100
117,300
144,000
261,300
2,038,793
At
30.9.23
£
3,565,493
3,565,493
Movement
in funds
£
85,075
85,075|
|---|---|---|---|
|||||
|||||
continued...
Page 19
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **16. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|Prior
At
year
1.10.21
adjustment
£
£
**Unrestricted funds**
General fund
3,458,789
(61,020)
**TOTAL FUNDS**
3,458,789
(61,020)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
536,244
**TOTAL FUNDS**
536,244||Net
movement
in funds
£
82,649
82,649
Resources
expended
£
(453,595)
(453,595)|At
30.9.22
£
3,480,418|At
30.9.22
£
3,480,418|
|---|---|---|---|---|
||||3,480,418||
||||Movement
in funds
£
82,649
82,649||
|||||82,649|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At
1.10.21
£
3,458,789
3,458,789|Prior
year
adjustment
£
(61,020)
(61,020)|Net
movement
in funds
£
167,724
167,724|At
30.9.23
£
3,565,493|
|---|---|---|---|---|
|||||3,565,493|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
1,121,458
**TOTAL FUNDS**
1,121,458|Resources
Movement
expended
in funds
£
£
(953,734)
167,724
(953,734)
167,724|Resources
Movement
expended
in funds
£
£
(953,734)
167,724
(953,734)
167,724|
|---|---|---|
|||167,724|
continued...
Page 20
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
**Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **17. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 September 2023 (2022: NIL)
Page 21
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Detailed Statement of Financial Activities FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
Grants
**Other trading activities**
Fundraising events
Rental Income
Parking
**Investment income**
Current asset investment
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Hire of plant and machinery
Insurance
Light and heat
Telephone
Postage and stationery
Petrol
Travel
Repairs and maintenance
Rubbish Collection
Consultancy & Professional Fee
Computers
Hall Rental
Subscriptions
Admin Expenses
Ministers tithes
Livewire
Hardship payments
Love offering
Loan Interest
Bank Charges
Carried forward|2023
a
£
406,654
60,141
-
466,795
828
107,873
8,793
117,494
925
585,214
2,844
20,117
37,902
3,559
2,473
2,906
6,434
25,008
3,002
30,045
5,614
8,703
3,255
10,554
13,632
2,187
-
5,389
2,315
3,037
188,976|2022
s restated
£
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|
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 2023**
|**Raising donations and legacies**
Brought forward
Other
Advertising
Anniversary Expenses
Fixtures and fittings
Computer equipment
**Other trading activities**
Trustees' salaries
Trustees' social security
Trustees' pensions paid
Wages
Social security
Pensions
Missions
Agent costs
Mortgage
**Support costs**
**Finance**
Foreign Exchange Losses
**Governance costs**
Auditors' remuneration
Accountancy and legal fees
Total resources expended
**Net income**|2023
a
£
188,976
19,109
466
1,817
2,337
1,379
214,084
27,787
2,626
2,400
63,534
3,118
847
7,300
10,080
157,652
275,344
61
9,000
1,650
10,650
500,139
85,075|2022
s restated
£
187,735
17,936
50
25,646
2,202
1,379|
|---|---|---|
|||234,948
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|
|||453,595|
|||82,649|
This page does not form part of the statutory financial statements
Page 23
**REGISTERED CHARITY NUMBER: 1174845**
## **Report of the Trustees and**
**Audited Financial Statements for the Year Ended 30 September 2023**
## **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 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Report of the Independent Auditors**|4|to|7|
|**Statement of Financial Activities**||8||
|**Balance Sheet**||9||
|**Cash Flow Statement**||10||
|**Notes to the Cash Flow Statement**||11||
|**Notes to the Financial Statements**|12|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 2023**
The trustees present their report with the financial statements of the charity for the year ended 30 September 2023. 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 it's activities and decisions in accordance with the Charity Commission’s guidance.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
In the sixth 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.
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.
We also intend 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.
Page 1
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
**Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **FINANCIAL REVIEW**
## **Financial position**
Total incoming resources for the year were £585,214 compared to £536,244 received in the prior year. £406,654 of this income was received from the church community as general giving (2022: £390,862).
The expenditure of resources on the church's activities during the year of £500,139 (2022: £453,595) was in line with the church's charitable aims.
## **Going concern**
As of the financial year ending 30 September 2023, the financial statements of the Charity reflect current liabilities amounting to £387,425. This figure indicates that our current liabilities exceed our current assets by £305,228. 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 Tabernacle 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
Page 2
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Report of the Trustees FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **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
## **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
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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: 8th January 2025
...................................................................... Rev C Okala - Trustee
Page 3
**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 2023 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:
- give a true and fair view of the state of the charity's affairs as at 30 September 2023 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **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**
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.
Based on the work we have performed, we have identified material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
We draw attention to the going concern note in the Trustees' Report and the accounting policies in the financial statements, which indicate that there is material uncertainty as to whether the Charity will remain a going concern due to its net-current liabilities position of £305,228. The Trustees have implemented several measures to address this situation, as outlined in the going concern note within the Trustees' Report and accounting policies, including the preparation of a detailed cash flow projection for the next 12 months. Our opinion is not modified in respect of this matter.
## **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 4
**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:
- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **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 5
**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.
Owadally & King Chartered Certified Accountants & Statutory Auditors is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
Page 6
**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
08/01/2025 Date: .............................................
Page 7
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Statement of Financial Activities FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|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**|2023
2022
Unrestricted
Total
fund
Unrestrictedfunds
as restated
£
£
466,795
452,843
117,494
76,671
925
6,730
585,214
536,244
489,489
444,529
10,650
9,066
500,139
453,595
85,075
82,649
3,480,418
3,397,769
3,565,493
3,480,418|
|---|---|
The notes form part of these financial statements
Page 8
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Balance Sheet 30 SEPTEMBER 2023**
|Notes
11
12
13
14
16
**FIXED ASSETS**
Tangible assets
**CURRENT ASSETS**
Debtors
Cash at bank
**CREDITORS**
Amounts falling due within one year
**NET CURRENTLIABILITIES **
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
**NET ASSETS**
**FUNDS**
Unrestricted funds
**TOTAL FUNDS**|2023
Unrestricted
fund
£
6,206,985
26,491
55,706
82,197
(387,425)
(305,228)
5,901,757
(2,336,264 )
3,565,493
3,565,493
3,565,493|2022
Total
Unrestrictedfunds
as restated
£
6,208,541
-
65,098
65,098
(404,028)
(338,930)
5,869,611
(2,389,193 )
3,480,418
3,480,418
3,480,418|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. C Okala - Trustee
The notes form part of these financial statements
Page 9
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Cash Flow Statement FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|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 (used in)/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**|2023
a
£
213,632
(157,652)
55,980
(2,160)
925
(1,235)
(53,841)
(10,296)
(64,137)
(9,392)
65,098
55,706|2022
s restated
£
145,358
(89,153)
56,205
(5,515)
6,730
1,215
(71,888)
(82,400)
(154,288)
(96,868)
161,966
65,098|
|---|---|---|
The notes form part of these financial statements
Page 10
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Notes to the Cash Flow Statement FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|
|---|---|---|---|---|
||||2023|2022|
|||||as restated|
||||£|£|
||**Net income for the reporting period (as per the Statement of Financial**||||
||**Activities)**||85,075|82,649|
||**Adjustments for:**||||
||Depreciation charges||3,716|3,581|
||Interest received||(925)|(6,730)|
||Interest paid||157,652|89,153|
||Increase in debtors||(26,491)|-|
||Decrease in creditors||(5,395)|(23,295)|
||**Net cash provided by operations**||213,632|145,358|
|**2.**|**ANALYSIS OF CHANGES IN NET DEBT**||||
|||At 1.10.22|Cash flow|At 30.9.23|
|||£|£|£|
||**Net cash**||||
||Cash at bank and in hand|65,098|(9,392)|55,706|
|||65,098|(9,392)|55,706|
||**Debt**||||
||Debts falling due within 1 year|(277,442)|11,208|(266,234)|
||Debts falling due after 1 year|(2,389,193 )|52,929|(2,336,264 )|
|||(2,666,635 )|64,137|(2,602,498 )|
||**Total**|(2,601,537 )|54,745|(2,546,792 )|
The notes form part of these financial statements
Page 11
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
**Notes to the Financial Statements FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **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 costs 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.
Fixtures and Fittings: straight line over 4 years Computer Equipment: straight line over 4 years
## **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.
The trust has only unrestricted fund as at and year ended 30 September 2023 and for year ended 2022.
## **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.
continued...
Page 12
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
**Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Going concern**
In evaluating the financial statements of the charity for the financial year ending 30 September 2023, 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 £305,228, indicating that current liabilities exceed current assets by this amount.
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**
|**DONATIONS AND LEGACIES**|||
|---|---|---|
|Donations
Gift aid
Grants|2023
a
£
406,654
60,141
-
466,795|2022
s restated
£
390,862
57,491
4,490|
|||452,843|
Grants received, included in the above, are as follows:
## **3.**
|Other grants
**OTHER TRADING ACTIVITIES**
Fundraising events
Rental Income
Parking|2023
a
£
-
2023
a
£
828
107,873
8,793
117,494|2022
s restated
£
4,490
2022
s restated
£
1,845
62,608
12,218|
|---|---|---|
|||76,671|
continued...
Page 13
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **4. INVESTMENT INCOME**
|Current asset investment
**5.**
**RAISING FUNDS**
**Raising donations and legacies**
Hire of plant and machinery
Insurance
Light and heat
Telephone
Postage and stationery
Petrol
Travel
Repairs and maintenance
Rubbish Collection
Consultancy & Professional Fee
Computers
Hall Rental
Subscriptions
Admin Expenses
Ministers tithes
Livewire
Hardship payments
Love offering
Loan Interest
Bank Charges
Other
Advertising
Anniversary Expenses
Depreciation|2023
a
£
925
2023
a
£
2,844
20,117
37,902
3,559
2,473
2,906
6,434
25,008
3,002
30,045
5,614
8,703
3,255
10,554
13,632
2,187
-
5,389
2,315
3,037
19,109
466
1,817
3,716
214,084|2022
s restated
£
6,730
2022
s restated
£
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
17,936
50
25,646
3,581
234,948|
|---|---|---|
continued...
Page 14
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **5. RAISING FUNDS - continued**
|**Other trading activities**
Trustees' remuneration etc
Staff costs
Missions
Agent costs
Interest payable and similar charges
**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|2023
a
£
32,813
67,499
7,300
10,080
157,652
275,344
2023
a
£
61
489,489
Governance
Finance
costs
£
£
61
-
-
10,650
61
10,650
2023
a
£
27,787
2,626
2,400
32,813|2022
s restated
£
31,973
65,323
9,602
12,100
89,153
208,151
2022
s restated
£
1,430
444,529
Totals
£
61
10,650
10,711
2022
s restated
£
26,976
2,597
2,400
31,973|
|---|---|---|
|||s|
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 2023 nor for the year ended 30 September 2022.
Page 15
continued...
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|**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
No employees received emoluments in excess of £60,000.
**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**|2023
£
91,321
5,744
847
97,912
2023
5|2022
as restated
£
88,888
5,222
786
94,896
2022
as restated
5
Unrestricted
fund
as restated
£
452,843
76,671
6,730
536,244
444,529
9,066
453,595
82,649
3,458,789
(61,020)
3,397,769|
|---|---|---|
Page 16
continued...
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
**Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
as restated
£
3,480,418|
|---|---|
## **10. PRIOR YEAR ADJUSTMENT**
During the year, a review of the freehold land and property recognised in prior periods identified that £101,700 had been incorrectly capitalised in the accounts. This amount related to expenditure that should have been expensed as incurred in accordance with the requirements of FRS 102 Section 17 Property, Plant and Equipment.
As a result, a prior year adjustment has been made to correct this error. The adjustment has reduced the carrying amount of freehold land and property by £61,020 and increased the prior year's operating expenses by the same amount.
The impact of the adjustment is as follows:
" Statement of Financial Position: The carrying amount of freehold land and property has been reduced by £61,020 as at the beginning of the earliest comparative period presented.
" Statement of Comprehensive Income: Profit for the prior year has been reduced by £61,020, reflecting the reclassification of the expenditure from capitalised property costs to operating expenses.
" Equity: Opening retained earnings have been adjusted to reflect the decrease in net assets and increased in expenses resulting from the correction.
## **11. TANGIBLE FIXED ASSETS**
|**COST**
At 1 October 2022
Additions
At 30 September 2023
**DEPRECIATION**
At 1 October 2022
Charge for year
At 30 September 2023
**NET BOOK VALUE**
At 30 September 2023
At 30 September 2022|Freehold
property
£
6,200,000
-
6,200,000
-
-
-
6,200,000
6,200,000|Fixtures
and
fittings
£
8,809
2,160
10,969
4,404
2,337
6,741
4,228
4,405|Computer
equipment
£
5,515
-
5,515
1,379
1,379
2,758
2,757
4,136|Totals
£
6,214,324
2,160|
|---|---|---|---|---|
|||||6,216,484|
|||||5,783
3,716|
|||||9,499|
|||||6,206,985|
|||||6,208,541|
continued...
Page 17
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
**Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **11. TANGIBLE FIXED ASSETS - continued**
The financial statements include a small element of investment property within the freehold land and buildings. The trustees have reviewed the nature and scale of this investment property and have concluded that it is not material to the readers of the financial statements for the year ended 30 September 2023. Consequently, this element has not been shown separately. This approach is consistent with the trustees' assessment of the financial information's relevance and significance to stakeholders.
## **12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|2023
£
Trade debtors
26,491
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2023
£
Bank loans and overdrafts (see note 15)
38,188
Taxation and social security
45
Other creditors
349,192
387,425
**14.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
2023
£
Bank loans (see note 15)
2,142,264
Other creditors
194,000
2,336,264|2022
as restated
£
-
2022
as restated
£
39,100
-
364,928
404,028
2022
as restated
£
2,195,193
194,000
2,389,193|
|---|---|
## **15. LOANS**
An analysis of the maturity of loans is given below:
|Amounts falling due within one year on demand:
Bank loans
Other loans|2023
£
38,188
228,046
266,234|2022
as restated
£
39,100
238,342
277,442|
|---|---|---|
continued...
Page 18
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|**15.**
**LOANS - continued**
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
**16.**
**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
1.10.22
£
3,480,418
3,480,418
Incoming
resources
£
585,214
585,214|2023
£
38,188
50,000
88,188
114,564
144,000
258,564
1,989,512
Net
movement
in funds
£
85,075
85,075
Resources
expended
£
(500,139)
(500,139)|2022
as restated
£
39,100
50,000
89,100
117,300
144,000
261,300
2,038,793
At
30.9.23
£
3,565,493
3,565,493
Movement
in funds
£
85,075
85,075|
|---|---|---|---|
|||||
|||||
continued...
Page 19
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **16. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|Prior
At
year
1.10.21
adjustment
£
£
**Unrestricted funds**
General fund
3,458,789
(61,020)
**TOTAL FUNDS**
3,458,789
(61,020)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
536,244
**TOTAL FUNDS**
536,244||Net
movement
in funds
£
82,649
82,649
Resources
expended
£
(453,595)
(453,595)|At
30.9.22
£
3,480,418|At
30.9.22
£
3,480,418|
|---|---|---|---|---|
||||3,480,418||
||||Movement
in funds
£
82,649
82,649||
|||||82,649|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At
1.10.21
£
3,458,789
3,458,789|Prior
year
adjustment
£
(61,020)
(61,020)|Net
movement
in funds
£
167,724
167,724|At
30.9.23
£
3,565,493|
|---|---|---|---|---|
|||||3,565,493|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
1,121,458
**TOTAL FUNDS**
1,121,458|Resources
Movement
expended
in funds
£
£
(953,734)
167,724
(953,734)
167,724|Resources
Movement
expended
in funds
£
£
(953,734)
167,724
(953,734)
167,724|
|---|---|---|
|||167,724|
continued...
Page 20
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
**Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **17. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 September 2023 (2022: NIL)
Page 21
**LIFE TABERNACLE UNITED PENTECOSTAL CHURCH TRUST**
## **Detailed Statement of Financial Activities FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
Grants
**Other trading activities**
Fundraising events
Rental Income
Parking
**Investment income**
Current asset investment
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Hire of plant and machinery
Insurance
Light and heat
Telephone
Postage and stationery
Petrol
Travel
Repairs and maintenance
Rubbish Collection
Consultancy & Professional Fee
Computers
Hall Rental
Subscriptions
Admin Expenses
Ministers tithes
Livewire
Hardship payments
Love offering
Loan Interest
Bank Charges
Carried forward|2023
a
£
406,654
60,141
-
466,795
828
107,873
8,793
117,494
925
585,214
2,844
20,117
37,902
3,559
2,473
2,906
6,434
25,008
3,002
30,045
5,614
8,703
3,255
10,554
13,632
2,187
-
5,389
2,315
3,037
188,976|2022
s restated
£
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|
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 2023**
|**Raising donations and legacies**
Brought forward
Other
Advertising
Anniversary Expenses
Fixtures and fittings
Computer equipment
**Other trading activities**
Trustees' salaries
Trustees' social security
Trustees' pensions paid
Wages
Social security
Pensions
Missions
Agent costs
Mortgage
**Support costs**
**Finance**
Foreign Exchange Losses
**Governance costs**
Auditors' remuneration
Accountancy and legal fees
Total resources expended
**Net income**|2023
a
£
188,976
19,109
466
1,817
2,337
1,379
214,084
27,787
2,626
2,400
63,534
3,118
847
7,300
10,080
157,652
275,344
61
9,000
1,650
10,650
500,139
85,075|2022
s restated
£
187,735
17,936
50
25,646
2,202
1,379|
|---|---|---|
|||234,948
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|
|||453,595|
|||82,649|
This page does not form part of the statutory financial statements
Page 23