## **True
Life
Church
MK**
**TRUSTEES
ANNUAL
REPORT
AND
FINANCIAL
STATEMENTS FOR
THE
YEAR
ENDED
28th
February
2023**
Charity
Registration
No.
1181845
**True
Life
Church
MK Trustees
Report
and
Financial
Statements Year
ended
February
28th
2023**
**Charity:
1181845**
## **Contents**
|**Contents**
|||
|---|---|---|
|Statutory Information
|**Page**
3||
|
Trustees Report
|
4||
|
Independent Examiners Report
|
6||
|
Statement of Financial Accounts
|
7||
|
Balance Sheet
|
8||
|
Notes to the Accounts
|
|9 - 12|
Page: 2
**True
Life
Church
MK Trustees
Report
and
Financial
Statements Year
ended
February
28th
2023**
**Charity:
1181845**
## **Statutory
Information**
True
Life
Church
MK
is
a
Charity
registered
with
the
Charity
Commission
of
England
and
Wales
as
a
charitable incorporated
organisation.
The
incorporation
was
registered
on
February
1st
2019
## **Registered
Address**
32
Bottesford
Close,
Emerson
Valley,
Milton
Keynes,
MK42
AF
## **Trustees**
Mr
Dylan
Russell Mrs
Anna
Russell Mr
Timothy
Morris Mr
Rob
McFarlane Mr
Stephen
Thompson
**Appointed
By:** Members Members Members Members Members
## **Independent
Examiner**
Mr
Mervyn
Thomas
128
Putnoe
Lane, Bedford,
MK41
8LS
## **Bankers**
HSBC
Bank
Page: 3
**True
Life
Church
MK Trustees
Report
and
Financial
Statements Year
ended
February
28th
2023**
**Charity:
1181845**
## **Trustees
Annual
Report
for
2022
-‐
2023**
The
Trustees
present
their
Annual
Report
and
financial
statements
for
the
Year
ended
28
February
2023
## **Charitable
Objects**
The
objectives
of
the
charity
are
- To
advance
the
Christian
faith
in
accordance
with
the
statement
of
faith
annexed
in
such
ways
and
in such
parts
of
the
United
Kingdom
or
the
world
as
the
trustees
from
time
to
time
think
fit.
## **Organisational
Structure
and
Decision-‐making
processes**
The
charity
is
led
by
Dylan
Russell
who
is
the
pastor
of
the
church.
He
is
supported
by
the
team
of
trustees
and a
wider
leadership
team.
True
Life
Church
MK
is
linked
relationally
to
a
number
of
churches
and
leaders
who
provide
input,
wisdom
and accountability
to
the
church.
We
have
benefitted
as
a
church
from
the
input
of
Rob
McFarlane
from
the
River Church
in
St
Neots,
Stephen
Thompson
from
Bromham
Baptist
Church,
Jason
Shiels
from
Liberty
Church
and
a number
of
other
leaders
we
relate
to.
They
have
provided
valuable
insight
and
guidance
to
the
trustees
and leadership
team.
Rob
and
Stephen
are
official
trustees
as
well
which
helps
the
church
greatly
in
accountability and
guidance.
## **Public
Benefit
Statement**
The
Church
provides
opportunities
for
Christian
worship
on
a
weekly
basis
to
which
all
members
of
the
public are
welcome.
In
addition,
a
number
of
activities
for
people
of
all
ages
are
offered
that
are
again
open
to
the public
and
provide
opportunities
for
the
building
of
relationships
and
instruction
in
the
essentials
of
the Christian
faith.
These
include
but
are
not
limited
to:
- Sunday
service
of
worship
- Mid-‐week
life
group
- Other
occasional
church
related
activities
such
as
prayer
meetings,
men’s
and
women’s
connect
times
The
Trustees
have
read
the
Charity
Commission
guidance
on
public
benefit,
and
are
satisfied
that
the
activities outlined
above
clearly
demonstrate
that
the
charity
is
meeting
its
Purpose
and
is
providing
a
benefit
to
the public.
## **Achievements
in
the
year**
The
church
has
continued
to
make
a
number
of
advances
during
the
last
twelve
months
as
reported
here
by our
Pastor
Dylan
Russell:
The
church
has
had
a
year
of
growth.
We
have
moved
location
once
again,
this
time
to
the
World
Vision building
which
has
allowed
growth
in
the
community
to
happen.
We
have
grown
in
lifegroups,
leadership
and people.
We
have
seen
the
favour
of
God
in
more
people
coming
to
faith
in
Christ
and
being
baptised
which
has encouraged
us
greatly.
Page: 4
**True
Life
Church
MK Trustees
Report
and
Financial
Statements Year
ended
February
28th
2023**
**Charity:
1181845**
The
church
continues
to
practise
the
Christian
faith
by
teaching
the
Bible,
meeting
relationally
with
new believers
over
meals,
providing
mid-‐week
small
groups
for
friendship
and
encouragement,
training
and
prayer, and
our
worship
to
God
is
enhanced
by
a
gifted
worship
team
led
by
Tim
and
Asher.
We
have
started
the process
of
appointing
elders,
which
we
feel
is
the
right
step
to
see
stability
in
the
community.
Brad
and
Beth Taylor
along
with
Tim
and
Asher
Morris are
in
the
process
of
eldership
with
Dylan
and
Anna
Russell.
True
Life
Church
MK
is
made
up
from
different
age
groups,
and
from
different
ethnic
and
social
background’s. The
church
reflects
the
heart
of
God
to
connect
and
unite
His
people
as
one
body.
This
is
an
encouragement
to us
all
as
building
family
is
such
a
key
part
of
our
vision
and
heart.
We
had
a
mission
trip
to
Kenya,
which
was
an amazing
experience
for
the
group
that
went
as
they
had
an
impact
on
the
nation.
The
challenges
we
face
as
a
church
are
exciting
as
well
as
very
stretching
and
we
look
forward
to
another
year of
being
a
church
with
the
vision
to
impact
the
community
of
Milton
Keynes
with
the
heart
of
Jesus.
## **Volunteers**
All
of
the
above
activities
are
largely
led
and
staffed
by
volunteers,
and
the
church
would
be
unable
to
function without
their
commitment
and
often
sacrificial
giving
of
time.
This
is
the
case
on
Sunday
meetings
which other
than
the
teaching
from
the
leaders
and
others,
are
organised,
led
and
run
by
volunteers
from
within
the congregation.
## **Financial
Review**
Income
was
£90,091
(Previous
year
£92,852) Expenditures
were
£71,907
(Previous
year
£30,692)
Donations
were
slightly
down
as
we
had
a
generous
one
off
donation
the
year
before.
Expenses
have increased
due
to
venue
costs
and
extra
staffing
which
has
been
necessary
for
the
growth
of
the
church.
The
general
free
reserves
is
at
£
20,887
which
is
adequate
to
meet
our
reserves
policy
of
holding
at
least
3 months value of necessary expenditures and not more than 6 months. Last
year
we
designated
£70,000
into
a
buildings
reserve
fund
which
remains
at
£75,000.
## **Approved
by
the
Trustees and
signed
on
their
behalf.**
## Dylan Russell
Dylan Russell 30/09/2023
Page: 5
**True
Life
Church
MK Trustees
Report
and
Financial
Statements Year
ended
February
28th
2023**
**Charity:
1181845**
## **Independent examiner’s report on the accounts**
To the trustees and members of True Life Church MK (Charity no: 1181845) relating to the Accounts for the period ended 28th February 2021 as set out on pages 7 to 12 which follow.
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
I have completed my examination. I confirm that no material matters have come to my attention in connection with my examination which gives me cause to believe that in, any material respect:
- the accounting records were not kept in respect of the charity as required by action 130 of the act.
- accounts do not accord with those records, or
- the accounts do not comply with the applicable requirements concerning the form and content of account as set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with my examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mervyn Thomas 128 Putnoe Lane Bedford MK41 8LS
Dated: 30/09/2023
Page: 6
**True
Life
Church
MK Trustees
Report
and
Financial
Statements Year
ended
February
28th
2023**
**Charity:
1181845**
## **STATEMENT OF FINANCIAL ACTIVITIES**
**Year Ending 28th. February 2023**
||||**Unrestricted**|**Restricted**|**Total funds**|**Total funds**|
|---|---|---|---|---|---|---|
||Note||**income funds**|**income funds**|**2023**|**2022**|
||||**£**|**£**|**£**|**£**|
|**Income from:**|||||||
|Donations and legacies|||80,527|
9,325|
89,852|
92,852|
|Other trading activities|||239|
-|
239|
-|
|**Total income**||**3**|**80,766**|**9,325**|**90,091**|**92,852**|
|**Expenditure on:**|||||||
|Generating funds|||132|
-|
132|
-|
|Charitable activities|||69,497|
2,277|
71,774|
30,692|
|**Total Expenditure**|4||**69,629**|**2,277**|**71,906**|**30,692**|
|**Net income/(expenditure)**|||**11,137**|**7,048**|**18,185**|**62,160**|
|Transfers between funds|7||-|
-|
-|
-|
|Net movement in funds|||**11,137**|**7,048**|**18,185**|**62,160**|
|**Reconciliation of funds:**|||||||
|Total funds brought forward|||9,750|
75,000|
84,750|
22,590|
|**Total funds carried forward**|||**20,887**|**82,048**|**102,935**|**84,750**|
||||||||
Page: 7
**True
Life
Church
MK Trustees
Report
and
Financial
Statements Year
ended
February
28th
2023**
**Charity:
1181845**
## **BALANCE SHEET**
**Year Ending 28th. February 2023**
||||**Unrestricted**|**Restricted**|**Total funds**|**Total funds**|
|---|---|---|---|---|---|---|
||Note||**income funds**|**income funds**|**2023**|**2022**|
||||**£**|**£**|**£**|**£**|
|**Current assets**|||||||
|Debtors||5|13,812|-|
13,812|
3,134|
|Cash at bank and in hand|||7,675|82,048|
89,723|
81,766|
|**Total current assets**|||**21,487**|**82,048**|**103,535**|**84,900**|
|Creditors|||(600)|-|
(600)|
(150)|
|**Net assets**|||**20,887**|**82,048**|**102,935**|**84,750**|
|**Funds of the Charity**|||||||
|Unrestricted funds||7|20,887||20,887|
9,750|
|Restricted income funds||7||82,048|
82,048|
75,000|
|**Total funds**|||**20,887**|**82,048**|**102,935**|**84,750**|
## **Signed by Dylan Russell on behalf of all the trustees**
Dylan Russell 26/07/2022
Page: 8
**True
Life
Church
MK Trustees
Report
and
Financial
Statements Year
ended
February
28th
2023**
**Charity:
1181845**
## **Notes to the Financial Statements**
## **1. BASIS OF PREPARATION**
## 1.1 Basis of accounting
The accounts (financial statements) have been prepared in accordance with the relevant version of the 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) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The accounts (financial statements) have been prepared to give a ‘true and fair view' and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the relevant version of the 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) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The charity constitutes a public benefit entity as defined by FRS 102.
## 1.2 Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).
## **2. ACCOUNTING POLICIES**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period.
## 2.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. and in accordance with the Companies Act 2006 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011.
## 2.2 Fund accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. Transfers are made from unrestricted to restricted funds as necessary to prevent restricted funds from going into deficit.
## 2.3 Incoming resources
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the income, it is more likely than not that it will receive the resources and the amount can be quantified with reasonable accuracy. Voluntary income is received by way of donations and gifts and is included in full in the SoFA when receivable. Grants are included in the
Page: 9
**True
Life
Church
MK Trustees
Report
and
Financial
Statements Year
ended
February
28th
2023**
**Charity:
1181845**
SoFA when the general income recognition criteria above are met and in the case of performancerelated grants income is recognized to the extent that the specified goods or services have been provided. Donated services and facilities are included at the value to the charity where this can be measured reliably. The value of services provided by volunteers has not been included in these accounts. Investment income is included when received.
## 2.4 Resources expended
Expenditure is recognized on an accrual basis as a liability is incurred. Expenditure includes any VAT that cannot be fully recovered, which is reported as part of the expenditure to which it relates. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the charity’s legal constitution.
## 2.5 Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at cash or other consideration expected to be received.
## 2.6 Creditors
Creditors and accruals are recognized when liability for payment is recognized but not paid.
(Continued)
Page: 10
**True
Life
Church
MK Trustees
Report
and
Financial
Statements Year
ended
February
28th
2023**
**Charity:
1181845**
## **Notes to the Financial Statements (Continued)**
## **3 ANALYSIS OF INCOME**
||**Unrestricted**|**Restricted**|**Total 2023**|**Total 2022**|
|---|---|---|---|---|
||**funds**|**funds**|**funds**|**funds**|
|**Donations and legacies**|**£**|**£**|**£**|**£**|
|Donations|66,207|
7,880|
74,087|
89,714|
|Gift Aid|14,320|
1,445|
15,765|
3,138|
|**Total donations and legacies**|**80,527**|**9,325**|**89,852**|**92,852**|
|Trading activities|||||
|Sales|239|
-|
239|
-|
|**Total Trading Activities**|**239**|**-**|**239**|-|
|**Total Income**|**80,766**|**9,325**|**90,091**|**92,852**|
## **4 ANALYSIS OF EXPENDITURE**
|**4 ANALYSIS OF EXPENDITURE**|||||
|---|---|---|---|---|
||**Unrestricted**|**Restricted**|**Total 2023**|**Total 2022**|
||**funds**|**funds**|**funds**|**funds**|
|**Expenditure on**|**£**|**£**|**£**|**£**|
|Salaries, NI and Pensions|22,076|
-|
22,076|
17,288|
|Leadership Expenses|5,212|
2,277|
7,489|
-|
|Publicity and Website|132|
-|
132|
-|
|Administration|5,556|
-|
5,556|
892|
|Premises|24,570|
-|
24,570|
11,218|
|Hardship and Support|1,140|
-|
1,140|
-|
|Church Ministry|998|
-|
998|
418|
|Global Mission|9,945||9,945|
876|
|Grand Total Expenditures|**69,629**|**2,277**|**71,906**|**30,692**|
Page: 11
**True
Life
Church
MK Trustees
Report
and
Financial
Statements Year
ended
February
28th
2023**
**Charity:
1181845**
|**5 DEBTORS**|||
|---|---|---|
||**2023**|**2022**|
||**£**|**£**|
|Gift Aid receivable|694|11,460|
|Expenses duplication|-|2,352|
|**Total Debtors**||**13,812**|
|**6 CREDITORS AND ACCRUALS**|||
||**2023**|**2022**|
||£|£|
|Accrual for Independent Examiner|(150)|
(150)|
|Other Accruals|(450)||
|**Total**|(600)|
(150)|
## **7. CHARITY FUNDS**
## **7.1 Details of All Funds with movements during the CURRENT reporting period 2023**
|FUNDS
**Opening**
**Balance**|
**Income**
**Expenditure**
**Transfers**
**Closing**
**Balance**|
|---|---|
|General Church
9,750
**Total Unrestricted**
**9,750**
Kenya
-
Building Fund
75,000
Hardship (Ben)
-
**Total Restricted**
**75,000**|
80,765
(69,629)
-
20,887
**80,765**
**(69,629)**
**-**
20,887
8,551
(2,075)
-
6,476
-
-
-
75,000
775
(203)
-
572
**9,326**
**(2,278)**
**-**
**82,048**|
|**TOTAL FUNDS**
**84,750**|**90,091**
**(71,907)**
**-**
**102,935**|
## **7.2 Details of All Funds with movements during the Previous reporting period 2022**
|FUNDS
**Opening**
**Balance**|
**Income**
**Expenditure**
**Transfers**
**Closing**
**Balance**|
|---|---|
|General Church
22,590
**Restricted Funds:**
Building Fund
-
-
**Total Restricted Funds**
-|
87,852
(30,692)
(70,000)
9,750
-
-
-
5,000
-
70,000
75,000
-
-
-
-
**5,000**
**-**
**70,000**
75,000|
|**TOTAL FUNDS**
**22,590**|**92,852**
**(30,692)**
**-**
**84,750**|
Page: 12