## # # |LIFE CHRISTIAN|CENTRE|ANNUAL|REPORT AND UNAUDITED|ACCOUN|| |---|---|---|---|---|---| |||CONTENTS|||| ||||||a e| |Charity
Inform atio n|||||| |Trustees'
Report|||||| |Independent
Examiner's|Report||||| |Accountants'
Report|||||| |Income & Expenditure|Statement||||10| |Financial Position Statement|||||| |Notes to the Accounts|||||13| |Detailed
Financial Statement|||||20| ## ## ## ## ## ## ## ## ## ## ## |he costs outAow|structure
in the year are summarised|as follows:|| |---|---|---|---| |||2021|2020| |Administrative|Expenses||12,794| |Administration:|Salaries 8 Wages||| |Charity Activities||9,437|20,889| |Governance
Costs||2,020|| ||||f32,282| ## ## ## ## ## ## |||2021|2020| |---|---|---|---| |||E|| |Incoming Resources||16,603|43,671| |Fund Raising Costs|||| |Gross Income||16,603|43,671| |Administrative
Expenses||3,320|10,293| |Administration:
Salaries g Wages|||| |Direct Charity Activities||10,023|20,889| |Governance
Costs||2,020|| |Total Resources Expended||15„363|32,282| |Net Fund IVtovement
serves|Transferred to Re-|1,240|11,389| ## ||||||31st March.|31st March| |---|---|---|---|---|---|---| ||||||2021|2020| |||||Notes||| |FIXEDASSETS||||||| |Buildings|||||28,036|21771| |Computers|||||982|1,309| |Equipment|||||1,376|1,834| |Music Equipment|||||1,542|2,086| |Office Furniture||||||| |||||||27,089| |CURRENT ASSETS||||||| |Bank|||||6,934|9,995| |Debtors|||||6,190|6,235| |Savings|||||3,129|3,129| ||||||16,253|19,359| |LIABILITIES||||||| |Creditors|||||1,735|1,145| |Net Current|Assets|||||45,303| |RESERVES||||||| |Unrestricted||income Funds||||| |Retained||Surplus||||45,303| |Restricted|Funds|||||| |Special|Projects/Building||Fund|||| |TOTAL CHARITY FUNDS|||||46,543|45,303| ## ## ## ## ## ## ## ## ## ## |These are included
in the|These are included
in the|Statement
of Financial
Activities (SoFA) when.|Statement
of Financial
Activities (SoFA) when.|| |---|---|---|---|---| |~|the charity becomes|entitled to the resources;||| |~|it is more likely than|not|that the trustees
will receive the resources;|| |~|the monetary
value|can|be measured
with sufficient
reliability.|| |There has been no offsetting|||of assets and liabilities,
or income and expenses,|un-| |less|required
or permitted|by|the FRS 102SORP or FRS 102.|| ## |Grants and donations are only included
in the SoFAwhen the general income recog-| |---| |nition criteria are met (5.10to 5.12 FRS'I02 SORP).| |In the case of performance
related
grants,
income
must
only be recognised
to the| |extent that the charity has provided
the specified goods or services as entitlement
to
the grant only occurs when
the performance
related
conditions
are met (5.16 FRS| |102SORP).| |Legacies||||Legacies are included
in the SOFA when receipt is probable,
that is, when there|| |---|---|---|---|---|---| |||||has been grant of probate, the executors
have established
that there are sufficient|| |||||assets
in the estate and any conditions
attached to the legacy are either within
the|| |||||control ofthe charity or have been met.|| |Government||grants||The charity has received government
grants
in the reporting
period|| |Tax reclaims||on|dona-|Gift Aid receivable
is included
in income when there is a valid declaration
from the|| |tions and|gifts|||donor.
Any Gift Aid amount
recovered
on a donation
is considered
to be part of|| |||||that gift and is treated as an addition
to the same fund as the initial donation
unless|| |||||the donor or the terms of the appeal
have specified otherwise.|| |Contractual||income||This is only included
in the SoFA once the charity has provided
the related goods|| |and performance|||re-|or services or met the performance
related conditions.|| |lated grants|||||| |Donated|goods|||Donated goods are measured
at fair value (the amount
for which the asset could|be| |||||exchanged)
unless impractical
to do so.|| |||||The cost ofany stock ofgoods donated
for distribution
to beneficiaries
is deemed|to| |||||be the fair value ofthose gifts at the time oftheir receipt and they are recognised|on| |||||receipt.
In the reporting
period
in which the stocks are distributed,
they are recog-|| |||||nised as an expense at the carrying
amount
ofthe stocks at distribution.|| |||||Donated
goods for resale are measured
at fair va1ue on initia1 recognition,
which|is| |||||the expected proceeds from sale less the expected costs ofsale, and recognised|in| |||||'Income from other trading
activities'
with the corresponding
stock recognised
in the|| |||||balance sheet.
On its sale the value of stock is charged against 'Income
from other|| |||||trading
activities'
and the proceeds
from sale are also recognised as 'Income
from|| |||||other trading
activities'.|| |||||Goods donated
for on-going
use by the charity are recognised
as tangible
fixed as-|| |||||sets and included
in the SoFA as incoming
resources
when receivable.|| |||||Gifts in kind for use by the charity are included
in the SoFA as income from donations|| |||||when receivable.|| |hnnetnA|ccnsawnc||end||| |facilities||||Donated services and facilities are included
in the SOFA when received at the value
ofthe gift to the charity
provided
the value ofthe gift can be measured
reliably.|| |||||Donated
services
and facilities that are consumed
immediately
are recognised|as| |||||income with an equivalent
amount
recognised as an expense under the appropriate|| |||||heading
in the SOFA.|| |Supportcosts||||The charity has incurred
expenditure
on support costs.|| |Volunteer
help|The value of any voluntary
help received
is not included
in the accounts
but is de-| |---|---| ||scribed
in the trustees'
annual
report.| |Income from interest,|This is included
in the accounts when receipt is probable
and the amount
receivable| |royalties
and dividends|can be measured
reliably.| |Income from member-|Membership
subscriptions
received
in the nature
of a gift are recognised
in Dona-| |ship subscriptions|tions and Legacies.| ||Membership
subscriptions
which gives a member
the right to buy services or other| ||benefits are recognised as income earned
from the provision
ofgoods and services| ||as income f'rom charitable
activities.| |Settlement of insur-|Insurance
claims are only included
in the SoFA when the general
income recogni-| |ance claims|tion crifena are met (5.I0to 5.I2 PRS'I02 SORP) and are included as an item of| ||other income
in the SoFA.| |Investment
gains and|This includes
any realised or unrealised
gains or losses on the sale of investments| |losses|and any gain or loss resulting
from revaluing
investments
to market value at the| ||end of the year.| |3.2 EXPENDITURE AND|LIABILITIES| |Llaull lty
f eL"Ugll ltlOI'1|LlaUIIIIlee dle
1eovgl fleeU wl lefe
IL ls
11lvle likely
Lfldll llvl Llldl
Lffefd ls d If Lldl vl Cvfl"
structive
obligation
committing
the charity to pay out resources and the amount
of| ||the obligation
can be measured
with reasonable
certainty.| |Governance
and sup-|Support costs have been allocated
between
governance
costs and other support.| |port costs|Governance
costs comprise
ail costs involving
public accountability
of the charity
and its compliance
with regulation
and good practice.| ||Support costs include central functions
and have been allocated to activity cost cat-| ||egories on a basis consistent
with the use of resources, e.g. allocating
property
costs by floor areas, or per capita, staff costs by the time spent and other costs by| ||their usage.| |Grants with perfor-
mance conditions|Where the charity gives a grant with conditions
for its payment
being a specific
level of service or output to be provided,
such grants are only recognised
in the| ||SoFA once the recipient of the grant has provided
the specified service or output.| |Grants payable without
performance
condi-|Where there are no conditions
attaching
to the grant that enables the donor charity
to realistically
avoid the commitment,
a liability for the full funding
obligation
must| |tions|be recognised.| |Redundancy
cost|The charity made no redundancy
payments
during the reporting
period.| |Deferred income|No material
item ofdeferred
income has been included
in the accounts.| |Creditors|The charity has creditors
which are measured
at settlement
amounts
less any trade| ||discounts| |Provisions||for|iiabili-|A liability
is measured
on recognition
at its historicai|A liability
is measured
on recognition
at its historicai|cost and|then
subsequently|then
subsequently|then
subsequently|then
subsequently| |---|---|---|---|---|---|---|---|---|---|---| |ties||||measured
at the best estimate of the amount
required||to settle the obligation||at||the| |||||rspnrtino
Ckta||||||| |Basic financial|||instru-|The charity accounts for basic financial
instruments
on||initial recognition
as per par-||||| |ments||||agraph 10.7 FRS102SORP. Subsequent|measurement|is as per paragraphs|||11.17|| |||||to 11.19, FRS102SORP||||||| |3.3ASSETS||||||||||| |Tangible
for use by|fixed
charity||assets|These are capitalised
if they can be used for more than
irised||one year,|and cost at|least||| |||||They are valued at cost.||||||| |||||Thc denrer iation rate c anrl methnrls|arc ac fnllnws|||||| |||||Land 8 buildings|2%|||||| |||||Plant & machinery|25%|||||| |||||Motor vehicles|25%|||||| |||||Fixtures &fittings|25%|||||| |||||Computer equipment-----|50%|||||| |Intangible||fixed assets||The charity has no intangible
fixed assets,|that is, non-monetary||assets that|do||not| |||||have physical substance
but are identifiable|and are controlled
by||the charity through|||| |||||custody or legal rights.||||||| |||||They are valued at cost.||||||| |Investments||||||||||| |||||Fixed asset investments
in quoted shares, traded bonds||and similar investments||||are| |||||valued
at initially
at cost and subsequently|at fair value
(their market value)|||at||the| |||||year end.
The same treatment
is applied|to unlisted
investments||unless fair||value|| |||||cannot be measured
reliably
in which case|it is measured
at cost||less impairment.|||| |||||Investments
held for resale or pending
their|sale and cash and cash equivalents||||with|| |||||a maturity
date of less than
1 year are treated as current asset investments||||||| |Stocks and||work|in pro-|Stocks held for sale as part ofnon-charitable|trade are measured||at the lower ofcost|||| |gress||||or net realisable vaalue.||||||| |||||Goods or services provided as part ofa charitable
activity are measured
at net|||||real-|| |||||isable value based on the service potential|provided
by|items ofstock.||||| |||||Work
in progress
is valued at cost less any|foreseeable|loss that is likely to occur||||on| |||||the contract.||||||| |Debtors||||Debtors (including
trade debtors and loans|receivable) are measured
on initial|||recog-||| |||||nition at settlement
amount
after any trade discounts||or amount|advanced|by||the| |||||charity.
Subsequently,
they are measured|at the cash or other||consideration|||ex-| |||||pected to be received.||||||| ## |||They are valued|at fair value except where|at fair value except where|they|qualify as basic financial|instru-| |---|---|---|---|---|---|---|---| |||ments.|||||| |4.
INCOMING|RESOURCES||2021|2020|||| |Gift Aid|||0|9,298|||| |Interest|||0|5|||| |Offering|||0|4,619|||| |Other|||345|1,604|||| |Room Hire|||495|3,145|||| |Special Prniects||Funding|150|1,065|||| |Sunday School||Special Offering|0|60|||| |Tithes||15,613||23,875|||| |Total||16,603||43,6?1|||| |5.ADMINISTRATION|5.ADMINISTRATION|EXPENDI-|2021|2020| |---|---|---|---|---| |TURE||||| |Cleaning Costs||||1,572| |Electricity and Gas|||602|?91.| |Light g Heating||||1,056| |Special Occasion Expenses||||50| |Other|||1,569|6„824| |TOTAL|||3,3Z0|10,293| |6.SALARIES L ALLOWANCES|||2021|2020| |Salaries wages 8|Allowances|||900| |Sociai security costs||||| |Pension costs||||| |Other Employee|benefits|||| |Total staff costs||||900| |7.Cltari|Activities|2021|2020| |---|---|---|---| |Conference|Costs|43|855| |Council Collections||0|252| |Compassion|Assist|586|2,501| |Fuel Costs||0|453| |Honorarium||0|2,390| |Interest Charges||0|1| |Internet &|Telephone|211|288| |Light & Heating||605|792| |Rents||7,800|8,190| |Repairs & Maint||180|579| |Software||144|199| |Teas &Entertainment|||466| |Travel Exp|||18| |Other|||3,905| |TOTAL||10,023|20,889| ## ||land and
Buildings|Computers|Fixtures and
Fittings|Qlce/Music
Equipment|Motor Yehi-
cles|| |---|---|---|---|---|---|---| |At01.04.2020||1,309||||27,088| |Additions|6,700|||||6,700| |Dis osals|0|0||||0| |At31.03.2021|28,471|1,309|1,834|2,174||33,788| |At01.01.2020||||||| |Charge forthe||||||| |year||||||| |On disposais||||||| ||435||458|||1,764| |t
kVau||||||| |At31.03.2021|28,036||1,376|1,630||32,024| |9.Bank|2021|2020| |---|---|---| |Lul rent Account|6,934|| |Savings Account|3,129|3,129| ||M,OH|13,124| |10.Debtors|| |---|---| |Other|| |Gift Aid*|6,190| ||6,235| |Other||310| |---|---|---| |Service|Provider*|835| |||1,145| ## |INCOMING
RESOURCES|INCOMING
RESOURCES|INCOMING
RESOURCES||2021|2020| |---|---|---|---|---|---| |Gift Aid||||0|9,298| |Offering||||0|4,619| |Other||||345|1,669| |Room Hire||||495|3,145| |Special Projects|Funding|||150|1,065| |Tithes||||15,613|23,875| |Total||||16,603|43,671| |EXPENDITURE|||||| |Auditing
Costs||||250|200| |Bad Debts Written|Off||||950| |Cleaning Costs|||||1,572| |Compassion
Assist|||||2„501| |Conference
Costs|||||855| |Council Collections|||||252| |Depreciation||||1,764|2,217| |Electricity and Gas||||602|798| |I uel Costs|||||| |Gardening||||104|| |Honorarium|||||2,390| |Insurance|||||| |Internet
&Telephone|||||576| |Licences|||||| |Light &Heating||||807|1,056| |Pastor Allowance|||||3,600| |Rents||||7,800|8,190| |Repairs g Maint||||180|579| |Software|||||199| |Other|||||129| |Teas & Entertainment|||||466| |Training
& Seminar|Costs|||1,034|| |Water||||540|1,035| |Write offs|||||4,107| |Yn&ah Articats|||||| |TOTAL RESOURCES|EXPENDED||||32,282| |Net Fund Movement||Transferred|to Reserves|1,240|11,389|