## **True Life Church MK** **TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 28th February 2025** Charity Registration No. 1181845 **True Life Church MK Charity: 1181845 Trustees Report and Financial Statements Year ended February 28th 2025** ## **Contents** ||**Page**| |---|---| |Statutory Information
3|| |Trustees Report
4|| |Independent Examiners Report
6|| |Statement of Financial Accounts
7|| |Balance Sheet
8|| |Notes to the Accounts
9 - 13|| Page: 2 **True Life Church MK Charity: 1181845 Trustees Report and Financial Statements Year ended February 28th 2025** ## **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** WORLD VISION UK WORLD VISION HOUSE OPAL DRIVE FOX MILNE MILTON KEYNES MK15 0ZR ## **Trustees** Mr Dylan Russell Mr Timothy Morris Mr Rob McFarlane Mr Stephen Thompson ## **Appointed By:** Members Members Members Members ## **Independent Examiner** Mr Mervyn Thomas 128 Putnoe Lane, Bedford, MK41 8LS ## **Bankers** HSBC Bank (403333 82737515) Page: 3 **True Life Church MK Charity: 1181845 Trustees Report and Financial Statements Year ended February 28th 2025** ## **Trustees Annual Report for 2024 - 2025** The Trustees present their Annual Report and financial statements for the Year ended 28 February 2024 ## **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 the eldership team. They are 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 and expansion. We have grown into the space at the World Vision building. We have grown in community and seen a number of new believers added. We have seen the favour of God in more people coming to faith in Christ and being baptised which has encouraged us greatly. There has also been an increase in seeing the youth growing and coming to faith and young adults increasing. Page: 4 **True Life Church MK Charity: 1181845 Trustees Report and Financial Statements Year ended February 28th 2025** 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, Asher and they have developed Josh and Hope to help steward this. We have two couples on an apprenticing eldership journey with us which is exciting to see the potential ahead for the church. True Life Church MK is made up from different age groups, and from different ethnic and social backgrounds. 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. Our heart is to grow this next year and serve the church worldwide as well as our local context. We are believing God for more life and people to be added to his church. ## **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. Emily and Kenzie are on staff helping in administration and doing a great job in this. ## **Financial Review** Income was £141,578 (Previous year £96,88) Expenditures were £118,775 (Previous year £76,572) Donations have increased over the year as seen above. Expenses have increased slightly due to venue costs, sowing into the apostolic and extra staffing needs which have been necessary for the growth of the church. The general free reserves is at £ 43,038 which is adequate to meet our reserves policy of holding at least 3 months value of necessary expenditures and not more than 6 months. £10,000 extra has been designated to our future building fund. ## **Approved by the Trustees and signed on their behalf.** ## Dylan Russell Dylan Russell 1 October 2025 Page: 5 **True Life Church MK Charity: 1181845 Trustees Report and Financial Statements Year ended February 28th 2025** ## **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 2024 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 Bedford MK41 8LS Dated: 1 October 2025 Page: 6 **True Life Church MK Charity: 1181845 Trustees Report and Financial Statements Year ended February 28th 2025** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **Year Ending 28th. February 2025** |**Note**
**Income from:**
Donations and legacies
Other trading activities
**Total income**
**3**
**Expenditure on:**
Generating funds
Charitable activities
**Total Expenditure**
4
**Net income/(expenditure)**
Transfers between funds
7
Net movement in funds
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried**
**forward**|**Unrestricted**
**Restricted**
**Total funds**
**Total funds**
**income**
**funds**
**income**
**funds**
**2025**
**2024**
**£**
**£**
**£**
**£**| |---|---| ||| ||122,214
251
122,465
87,809| ||19,113
-
19,113
8,679| ||**141,327**
**251**
**141,578**
**96,488**| ||| ||| ||| ||-
-
674| ||118,035
740
118,775
75,898| ||**118,035**
**740**
**118,775**
**76,572**| ||| ||**23,292**
**(489)**
**22,803**
**19,916**| ||(10,000)
10,000
-
-| ||**13,292**
**9,511**
**22,803**
**19,916**| ||| ||| ||29,746
93,105
122,851
102,935| ||**43,038**
**102,616**
**145,654**
**122,851**| Page: 7 **True Life Church MK Charity: 1181845 Trustees Report and Financial Statements Year ended February 28th 2025** ## **BALANCE SHEET** **Year Ending 28th. February 2025** |||**Unrestricted**|**Restricted**|**Total funds**|**Total funds**| |---|---|---|---|---|---| |||**income**|
**income**||| ||Note|**funds**|**funds**|**2025**|**2024**| |||**£**|**£**|**£**|**£**| |**Current assets**|||||| |Debtors|5|17,965|
-|
17,965|
12,177| |Cash at bank and in hand||25,673|
102,616|
128,289|
111,274| |**Total current assets**||**43,638**|**102,616**|**146,254**|**123,451**| |Creditors|6|(600)|
-|
(600)|
(600)| |**Net assets**||**43,038**|**102,616**|**145,654**|**122,851**| |**Funds of the Charity**|||||| |Unrestricted funds|7|43,038||43,038|
29,746| |Restricted income funds|7||102,616|
102,616|
93,105| |**Total funds**||**43,038**|**102,616**|**145,654**|**122,851**| Signed on behalf of the trustees ## Dylan Russell October 1st 2025 Page: 8 **True Life Church MK Charity: 1181845 Trustees Report and Financial Statements Year ended February 28th 2025** ## **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 Charity: 1181845 Trustees Report and Financial Statements Year ended February 28th 2025** SoFA when the general income recognition criteria above are met and in the case of performance-related 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 Charity: 1181845 Trustees Report and Financial Statements Year ended February 28th 2025** ## **Notes to the Financial Statements (Continued)** ## **3.1 ANALYSIS OF INCOME for the year ending February 28th. 2025** ||**Unrestricted**
**Restricted**
**2025**
**2024**
**funds**
**funds**
**funds**
**funds**
**£**
**£**
**£**
**£**
104,264
201
104,465
75,469
17,950
50
18,000
12,340
**122,214**
**251**
**122,465**
**87,809**
19,113
-
19,113
8,679| |---|---| ||| |**Donations and legacies**|| |Donations|| |Gift Aid|| |**Total donations and legacies**|| |Event Income|| |**Total Income**|**141,327**
**251**
**141,578**
**96,488**| ## **3.2 Comparative ANALYSIS OF INCOME for the year ending February 28th. 2024** ||**Unrestricted**
**Restricted**
**2024**
**2023**
**funds**
**funds**
**funds**
**funds**
**£**
**£**
**£**
**£**
74,033
1,436
75,469
74,087
12,317
23
12,340
15,765
**86,350**
**1,459**
**87,809**
**89,852**
8,679
-
8,679
239| |---|---| ||| |**Donations and legacies**|| |Donations|| |Gift Aid|| |**Total donations and legacies**|| |Event Income|| |**Total Income**|**95,029**
**1,459**
**96,488**
**90,091**| (Continued) Page: 11 **True Life Church MK Charity: 1181845 Trustees Report and Financial Statements Year ended February 28th 2025** ## **4 ANALYSIS OF EXPENDITURE for the year ending February 28th. 2025** ||**Unrestricted**
**Restricted**
**2025**
**2024**
**funds**
**funds**
**funds**
**funds**
**£**
**£**
**£**
**£**
20,040
-
20,040
20,040
35,353
-
35,353
9,417
27,232
-
27,232
22,697
20,067
-
20,067
5,240
2,901
-
2,901
2,742
-
740
740
-
-
-
-
518| |---|---| ||| |**Expenditure on**|| |Salaries, NI and Pensions
Administration
Premises
Leadership Expenses
Meeting Expenses
Hardship and Support
Church Ministry
Conferences and Event Costs
Global mission|| ||12,442
-
12,442
14,210| ||-
-
1,708| |Grand Total Expenditures|**118,035**
**740**
**118,775**
**76,572**| ## **5 DEBTORS** |**5 DEBTORS**|| |---|---| ||**2025**
**2024**| ||**£**
**£**| |Gift Aid receivable|17,965
12,177
**17,965**
**17,965**| |**Total Debtors**|| ||| **6 CREDITORS AND ACCRUALS** ||**2025**
**2024**
**£**
**£**
175
150
425
450
**600**
**600**| |---|---| |Accrual for Independent
Examiner|| |Other Accruals|| |**Total**|| Page: 12 **True Life Church MK Charity: 1181845 Trustees Report and Financial Statements Year ended February 28th 2025** ## **7. CHARITY FUNDS** ## **7.1 Details of All Funds with movements during the CURRENT reporting period 2025** |FUNDS|**Opening**
**Balance**|
**Income**|**Expenditure**|**Transfers**|**Closing**
**Balance**| |---|---|---|---|---|---| |General Church|29,746|
141,326|
(118,035)|
(10,000)|
43,038| |**Total Unrestricted**|**29,746**|**141,326**|**(118,035)**|**-**|53,038| |Special Collection|621|
1|
-|
-|
622| |Kenya|6,778|
-|
-|
-|
6,778| |Building Fund|85,000|
-|
-|
10,000|
95,000| |Hardship|686|
250|
(740)|
-|
196| |Youth|20|
-|
-||20| |**Total Restricted**|**93,105**|**251**|**(740)**|**10,000**|**102,616**| |**TOTAL FUNDS**|**122,851**|**141,577**|**(118,775)**|**-**|**145,654**| ## **7.2 Movement in funds 2025** The trustees have designated a further £10,000 to the Building Fund Page: 13