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2021-03-31-accounts

SLIC annual report and accounts 2020 / 21

----- Start of picture text -----
Bank balance (closing balance)
2017 2018 2019 2020 2021
70
63.196
60
53.519
48.807
50
40
31.215
29.408 29.094
30 26.571 27.93 26.767
23.781
20
10
0
General Projects
Thousands
----- End of picture text -----

2020 / 21 Trustees’ Introduction

Looking back over the last year, the world in 2019 seems a very different place from where we are right now. And yet, even while we rightly focus so much effort and forward planning on dealing with the current covid pandemic restrictions, we must not lose sight of all that we have seen God do this year. We held our AGM online this year. It is important to report back to our Church Members on ongoings and progress as well as providing time for questions. We decided for the AGM to be online as it allows for a larger attendance and for us to commit to a date that will not be impacted by changing Government restrictions. The format and accessibility worked well and we may continue this next year. I trust that you will find this report informative but also encouraging…

The past year has been a year of continuing to prepare and act out our mission ‘to love God, be family together and reach the world around us for Jesus’. This mission remains critical and flourishes in the face of a global pandemic. This has been Sanjay’s second year as Lead Pastor, supported by Clive and Kuldip. We thank our Pastors and the stable and hardworking support they have around them for providing all they have in 2020/21.

Whilst we have seen unexpected changes in people over the last year, we have had +50 new people take part in our services/collectives and 28 new members. We look forward to welcoming them all in-person soon. This is the third year for the Trustees to be in place under the new constitution, this opens the possibility of changes in April 2022.

This year has called upon extraordinary support by the entire Church to physically and mentally shift places, to undertake new roles and to keep steadfast. The financial and voluntary work to help prepare our various adaptations from online to restricted in-person services continues to bear fruit. We are very thankful for our Members’ sensible and selfless approach to organising and facilitating. We are delighted to see that so many Members are involved in many activities, enabling us to live our mission for Jesus together during a time where restrictions have made this much harder than normal.

God has been faithful and provided our work with the finances, people and tools to continue to live out our mission. Combined giving into our General and Building fund is very similar to last year, with income into the Building fund reducing in-line with the amount of building work needed. For ease to our members, we have merged the General and Building fund into one account now that the major building work is complete. We have 4 – 6 months forward cover in the bank (Charity Commission recommend 6 months cover). As we use the new Church building more we will get an better understanding of how much the utility bills and safety costs will be. We are continuing to pay off the loans we took to finance the building work and will strive to pay off the full amount by 2030. A more detailed insight into our finances can be found later in this document.

Looking back to 2020 / 21

Members (including children and 28 new people): 195

Additional joining on Sundays or in collectives (including some new believers): 54

Baptisms: 4

Weddings: 4

Fearless Prayer Online: 37 sessions

Online: Services and Collectives moved online throughout UK’s national restrictions and a new Sunday livestream launched to supplement return to the building

Other online events/courses: Built on the Rock (3 times); Welcome to Lighthouse events & Quiz Nights; Pentecost gathering online (May 2020) EHS (June-July 2020); Discover (July 2020); Where is God in a Covid World? (November 2020); Digging for Truth (Feb 2021); Welcome to Lighthouse sessions and Quiz nights

Winter Shelter: Lighthouse used for 60 days as a homeless shelter

General fund

2020 / 21
Value £
Change YoY
Change £		 2020 / 21
Value £
Change YoY
Change £
Income
71,811
+14%
8,754
Income + legacy gift & furlough
91,714
+ 45%
28,656
Expenditure(external)
74,439
+5%
3,367
Balance(bank)
48,807
Property value(non-current assets)
902,608
+2%
17,226
Key Income
Value £
Change
YoY
Key
Expenditure
Value
£
Change
YoY
Gifts (inc cash gifts)
56,945
+12%		 Salaries
52,062
-4%
HRMC gift aid
12,807
+17%		 Utilities
3,914
+11%
Legacy gift
16,215
N/A		 Insurance
6,446
+411%
Furlough grant
3,687
N/A		 Technology
4,302
+51%

General giving is 14% up compared to last year and very similar to 2018/19. The giving behaviour is aligned to the needs of our church and givers have redirects some of their contributions from the building fund to the general fund. The large one-off legacy gift was from a friend of Lighthouse. We claimed furlough for a short period of last year while Clive was caring for this parents in IoW.

Notable expenses include upscaling our technology and licences to maintain highquality online services. Salaries is 4% lower than last year due to Clive and Kuldip reducing their days by 1 in 2019. For the first time, we have the appropriate comprehensive insurance for both our buildings. As expected, utilities have increased due to the Church building being operational, this will further rise this year as we make more use of both buildings. We have forecasted for a significant expenditure to maintain the flat roofs in our buildings.

Building fund

2021 / 21
Value £
Change YoY
Change £		 2021 / 21
Value £
Change YoY
Change £		 2021 / 21
Value £
Change YoY
Change £
Gift income + gift aid
37,462
-44%
-29,606
Expenditure(inc capex)
18,770
-18%
-£4,256
Loan payments
£12,953
(£164,109k of loan still to be paid)
Key costs
Value £		 List of potential future expenses
Equipment
622		 Baptistery, children room in Church building,
enhanced stage lighting, plastering small rooms,
safety measures, heating and decoration
Maintenance
853

We are pleased the major phase of building work completed last year. Thank you for your practical and financial contributions to enabling this. Giving is down by 44% but still covering the building loan repayments as well as minor refurbishment work (listed above). The work carried out this year is largely apportioned as Capex (expenditure on upgrading/maintaining fixed assets). Purchases including an audio system and window repairs are included in the key costs.

Praise God we are still on track to repay our loans by 2033, we are praying that full repayment can be completed 3 years before this, in 2030. Reaching this target requires overpayment each year, which we were able to achieve this year by paying an extra £5k off the loan. This approach saves us considerable money in the long run as it will incur less interest. It is also important to note that a reduction in just a few regular givers could mean that we are unable to directly meet our repayments.

Now that the major building work is complete, we will finalise the merger of this fund into the general fund.

SOUTHAMPTON LIGHTHOUSE INTERNATIONAL CHRISTIAN CHURCH Naujavan fund

Projects fund

Project Income
£		 Income
change YoY		 Expend
£		 Expend
change YoY		 Balance
B/F £
Ganeshpur
Good Shepard Sch		 1,458
398		 -25%
-71%		 2,180
0		 -14%
-100%		 4,903
5,007
Hope of Glory 550 -11% 316 -59% 610
Help fund 2,025 -9% 1,836 -23% 920
Naujavan 10,427 -47% 7,180 -60% 19,775
OM R. Bhakar
Other		 2,938
5,490		 -51%
426%		 3,283
5,213		 -46%
399%		 0
0

Despite the challenges faced this year, giving to projects and initiatives continues and we have been able to support through your specific contributions.

We have a large reserve for our ongoing support to Ganeshpur and the Good Shepard School, which we hope to be able to use this year to aid COVID relief and recovery. The refugee fund has been renamed the help fund, along with a broad scope in order to provide aid to our Church members if needed.

The fund setup to support Rujuni has now been closed as Rujuni’s time with OM is complete.

Naujavan’s expenditure is largely due to salaries as events, including the annual weekender, have been postponed in-line with Government restrictions.

Appeals throughout the year have seen giving to various causes including Hospital in India, Bring Good News, Release International, Tearfund for Yemen, DFN, IFES and to one our church members who lost her husband.

SLIC BALANCE SHEET

----- Start of picture text -----
31.03.2020 31.03.2021
NON-CURRENT ASSETS
285,727.93 ALL PROPERTY 285,727.93
2019 / 20 CAPITALISED EXPENDITURE Value £ Change YoY Change £
288,776.27 CAPITALISED IN PRIOR YEARS 599,654.57
310,878.30 CAPITALISED IN THE PERIOD 17,226.10
-
Income 19,669 16% -3,646
885,382.50 TOTAL NON-CURRENT ASSETS 902,608.60
Expenditure CURRENT ASSETS 17,848 -12% -2,419
HRMC GIFT AID RECEIVABLE
2,687.18 SLIC GENERAL AND BUILDING FUND 4,212.55
Income over expenditure309.00 PROJECTS 1,821 -46% 807.50 -1,524
BANK AND CASH
Balance 1,011.32 CASH GROUPS 17,038 +12% 801.46 1,821
3,548.77 CURRENT ACCOUNT -BUILDING 50.57
4,274.29 CURRENT ACCOUNT-NAUJAVAN 113.16
3,494.00 CURRENT ACCOUNT-PROJECTS 5,001.00
Key income 856.28Value £CURRENT ACCOUNTS - GENERALChange Key expend Value £17,081.84 Change
38.95 DEPOSIT ACCOUNTS - BUILDING -
12,569.74 DEPOSIT ACCOUNTS - NAUJAVANYOY - YOY
8,447.56 DEPOSIT ACCOUNTS - PROJECTS 26,451.60
25,714.50 DEPOSIT ACCOUNTS - GENERAL 31,725.11
Gifts(inc cash) 10,551 -14% Salary 7,820 -28%
62,951.59 TOTAL CURRENT ASSETS 86,244.79
Events 948,334.09 6,590 TOTAL ASSETS +52% Events 9,278 988,853.39 +13%
NON-CURRENT LIABILITIES
Gift aid 144,437.72 2,201STEWARDSHIP LOAN -20% Transport 133,934.49 206 -49%
3,000.00 STEWARDSHIP LOAN INTEREST 1,800.00
29,625.00 OTHER LOAN 28,375.00
Naujavan has see 177,062.72 n a stable level of income and expenditure. A TOTAL NON-CURRENT LIABILITIES sides from salary, 164,109.49 the
CURRENT LIABILITIES
majority of the cash movements are event related. Events were held in Coventry, 3,365.51 VENTURE -
Southall, Weeken 180,428.23 d away, East London and Naujavan Girl. We TOTAL LIABILITIES were encouraged t 164,109.49 hat the
annual weekend away in November broke-even largely due to generous giving that
RESERVES
BROUGHT FORWARD BALANCES
helped support attendees who were unable to afford to attend. We continued to
701,944.21 GENERAL & BUILDING FUND 738,811.27
support events in Canada last year. We received a one-off £4k grant in 2018 so income 26,766.93 PROJECTS 29,094.59
in 2019 is level with the previous year. PROFIT/LOSS IN THE PERIOD
36,867.06 GENERAL & BUILDING FUND 60,005.52
2,327.66 PROJECTS 3,278.67
Unfortunately, all the events planned for this year are now either cancelled or
postponed. Sanjay and Sam will continue to reach out to Naujavan’s current community 767,905.86 TOTAL RESERVES 831,190.05
and also look to hold events in accordance with Government legislation or onlin 948,334.09 TOTAL LIABILITIES + RESERVES 995,299.54 e.
0.00 (6,446.15)
----- End of picture text -----

AGM (23/06/21) minutes

Questions and answers from the AGM 23/06/2021

• General fund concerns – Even without the legacy gift and furlough our income was +14% up YoY. Expenditure was £2628 more than our income (not including the legacy and furlough income). We are not declaring a risk at this point as the building and general fund will be combined from now on, we have 6 months reserves and have experienced unplanned one-off COVID related expenses. We will be keeping an eye on the utilities (especially gas) as we use our building in the through the winter.

We forecast utility bills to rise:

• Additional giving needed? We are very grateful for the stability of giving in the last year. To answer the question “is there a need for more money?” we do have future expenses, listed in the building fund section, yet to be fully costed. Depending how we are able to use our increased space (Covid restrictions dependent) there could be future costs. This will be reviewed when the restrictions are lift, hopefully by August. More people giving less is better than a few giving lots. Here is a snapshot analysis of our giving breakdown.

General fund income giving breakdown:

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General Fund
Building Fund
Projects Fund
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SOUTHAMPTON LIGHTHOUSE INTERNATIONAL CHRISTIAN CHURCH
SLIC MAIN ACCOUNT COMPRISING GENERAL & BUILDING INCOME & EXPENDITURE
31.03.2020 31.03.2021 YoY %
INCOME - GENERAL
50,640.73 GIFT INCOME 56,945.32 12%
10,961.93 GIFT AID 12,806.71 17%
55.84
0.00
0.00		 BANK INTEREST
LEGACY GIFT
FURLOUGH GRANT INCOME		 10.61
16,215.17
3,687.05		 -81%
1,399.20 OTHER MISC INCOME 2,048.68 46%
63,057.70
63,057.70		 Incomegeneral -(repeatable) 91,713.54
71,811.32		 45%
14%
56,792.97 INCOME - BUILDING
GIFT INCOME		 32,462.64 -43%
10,642.85 GIFT AID 5,366.10 -50%
71.67 BANK INTEREST 0.01 -100%
30,611.00 TRANSFER FROM GENERAL FUND 0.00 -100%
400.00 SALE OF METAL 0.00 -100%
98,518.49 37,828.75 -62%
## 54,202.58 EXPENDITURE - GENERAL
SALARIES		 52,061.71 -4%
4,798.70 RATES,POWER AND INSURANCE 3,913.74 -18%
3,252.10 REPAIRS AND MAINTENANCE 3,483.68 7%
981.12
60.00		 TELEPHONE,BROADBAND AND STATIONARY
BANK CHARGES		 1,418.90
69.00		 45%
15%
2,842.15 EQUIPMENT,COMPUTER SOFTWARE AND WEBSITE COSTS 4,301.55 51%
460.00 GIFTS TO SPEAKERS 570.00 24%
2,026.95 CHURCH EVENT COSTS 357.56 -82%
445.00
1,095.00		 TRAINING
SUBSCRIPTIONS		 1,107.00
200.00		 149%
-82%
30,611.00 TRANSFERS TO B&D 0.00 -100%
908.84 OTHER 510.17 -44%
101,683.44 67,993.31 -33%
71,072.44 General expenditure - internal bank transfers 67,993.31 -4%
EXPENDITURE - BUILDING
60.00 BANK CHARGES 69.00 15%
8,687.98 EQUIPMENT 621.94 -93%
2,900.00
11,036.00		 REPAIRS AND MAINTENANCE
PROFESSIONAL FEES		 852.52
0.00		 -71%
-100%
341.71 OTHER 0.00 -100%
23,025.69 1,543.46 -93%
36,867.06 EXCESS INCOME OVER EXPENDITURE 60,005.52 63%
701,944.21
738,811.27		 BALANCE BROUGHT FORWARD 738,811.27
798,816.79		 5%
8%
SOUTHAMPTON LIGHTHOUSE INTERNATIONAL CHRISTIAN CHURCH
SLIC PROJECTS ACCOUNT
31.03.2020 31.03.2021 YoY %
INCOME
GIFT INCOME
1,671.25 GANESPHUR - CHURCH 1,351.00 -19%
130.00 GANESHPUR - PASTOR 0.00 -100%
1,124.75 GOOD SHEPHERD SCHOOL 275.00 -76%
505.00 HOPE OF GLORY FOUNDATION 440.00 -13%
1,780.00 REFUGEES 1,690.00 -5%
17,449.61 NAUJAVAN 8,801.44 -50%
4,866.75 OM R.BHAKAR 2,360.00 -52%
847.50 OTHER 4,602.24 443%
GIFT AID
135.25 GANESPHUR - CHURCH 105.00 -22%
5.00 GANESHPUR - PASTOR 0.00 -100%
253.75 GOOD SHEPHERD SCHOOL 121.25 -52%
113.75 HOPE OF GLORY FOUNDATION 110.00 -3%
445.00 REFUGEES 335.00 -25%
2,201.00 NAUJAVAN 1,620.00 -26%
1,186.70 OM R.BHAKAR 577.50 -51%
196.87 OTHER 888.00 351%
BANK INTEREST
6.13 GANESPHUR - CHURCH 1.90 -69%
2.19 GANESHPUR - PASTOR 0.00 -100%
3.73 GOOD SHEPHERD SCHOOL 1.50 -60%
0.64 HOPE OF GLORY FOUNDATION 0.22 -66%
0.00 REFUGEES 0.05 #DIV/0!
18.90 NAUJAVAN 5.51 -71%
0.00 OM R.BHAKAR 0.00 #DIV/0!
0.00 OTHER 0.00 #DIV/0!
#DIV/0!
32,943.77 23,285.61 -29%
EXPENDITURE
EXPENSES
2,499.75 GANESPHUR - CHURCH 2,150.00 -14%
0.00 GANESHPUR - PASTOR 0.00 #DIV/0!
0.00 GOOD SHEPHERD SCHOOL 0.00 #DIV/0!
749.75 HOPE OF GLORY FOUNDATION 300.00 -60%
2,372.99 REFUGEES 1,825.00 -23%
17,788.51 NAUJAVAN 7,104.75 -60%
6,040.00 OM R.BHAKAR 3,275.44 -46%
1,044.61 OTHER 5,202.50 398%
BANK CHARGES
15.75 GANESPHUR - CHURCH 18.50 17%
14.25 GANESHPUR - PASTOR 11.50 -19%
15.50 GOOD SHEPHERD SCHOOL 0.00 -100%
15.00 HOPE OF GLORY FOUNDATION 16.00 7%
0.00 REFUGEES 10.75 #DIV/0!
60.00 NAUJAVAN 75.00 25%
0.00 OM R.BHAKAR 7.50 #DIV/0!
0.00 OTHER 10.00 #DIV/0!
30,616.11 20,006.94 -35%
2,327.66 EXCESS INCOME OVER EXPENDITURE 3,278.67 41%
26,766.93 BALANCE BROUGHT FORWARD 29,094.59 9%
29,094.59 32,373.26 11%

AGM Presentational slides (slide 7- 14)

SLIC annual report and accounts 2020121 IHO& +4fioNN

AGM introduction and agenda

Welcome 5 minutes
Trustees’ Introduction 5 minutes
Looking back to 2020 / 21 5 minutes
General fund 10 minutes
Building fund 10 minutes
Projects fund 10 minutes
Questions 15 minutes

AGM agenda and overview

Bank balance (closing balance)

----- Start of picture text -----
Welcome 5 minutes 70
63.196
Trustees’ Introduction 5 minutes 60
53.519
2017 2018 2019 2020 2021
Looking back to 2020 / 21 5 minutes 48.807
50
General fund 10 minutes
40
Building fund 10 minutes 31.215
29.408 29.094
27.93
30 26.571 26.767
23.781
Projects fund 10 minutes
20
Questions 15 minutes
10
0
General Projects
Thousands
----- End of picture text -----

Looking back to 2020 / 21

Members (including children and 28 new people): 195

Additional joining on Sundays or in collectives (inc some new believers): 54 Baptisms: 4

Weddings: 4

Fearless Prayer Online: 37 sessions

Online: Services and Collectives moved online throughout UK’s national restrictions and a new Sunday livestream launched to supplement return to the building

Other online events/courses: Built on the Rock (3 times); Welcome to Lighthouse events & Quiz Nights; Pentecost gathering online (May 2020) EHS (June-July 2020); Discover (July 2020); Where is God in a Covid World? (November 2020); Digging for Truth (Feb 2021); Welcome to Lighthouse sessions and Quiz nights Winter Shelter: Lighthouse used for 60 days as a homeless shelter

General fund
2020 / 21
Value £
Change YoY
Change £
Income
71,811
+14%
8,754
Income + legacy gift &
furlough
91,714
+ 45%
28,656
Expenditure(external)
74,439
+5%
3,367
Balance(bank)
48,807
Property value(non-current assets)
902,608
+2%
17,226
Key Income
Value £
Change
YoY
Key
Expenditure
Value £
Change
YoY
Gifts (inc cash gifts)
56,945
+12%
Salaries
52,062
-4%
HRMC gift aid
12,807
+17%
Utilities
3,914
+11%
Legacy gift
16,215
N/A
Insurance
6,446
+411%
Furlough grant
3,687
N/A
Technology
4,302
+51%

Building fund

Building fund Building fund
Income to date (since 2013)
£592,600
Loan value to date (exc interest)
£177,772
Spend to date (since 2013)
£658,156
2021 / 21
Value £
Change YoY
Change £
Gift income + gift aid
37,462
-44%
-29,606
Expenditure (inc capex)
18,770
-18%
-£4,256
Loan payments
£12,953
(£164k to be paid)
Church building capitalisation
Capex in this period
£17,226
Capex in prior years
£599,655
Key costs
Value £
Equipment
622
Maintenance
853
Key costs
Value £		 Church building capitalisation
Equipment
622		 Capex in this period
£17,226
Maintenance
853		 Capex in prior years
£599,655

List of potential future expenses

Baptistery, enhanced stage lighting, plastering small rooms, safety measures, heating and decoration

Chart / Further data

Projects fund
Project
Income
£
Income
change
YoY
Expend
£
Expend
change
YoY
Balance
B/F £
Ganeshpur
1,458
-25%
2,180
-14%
4,903
Good Shepard Sch
398
-71%
0
-100%
5,007
Hope of Glory
550
-11%
316
-59%
610
Help fund
2,025
-9%
1,836
-23%
920
Naujavan
10,427
-47%
7,180
-60%
19,775
OM R. Bhakar
2,938
-51%
3,283
-46%
0
Other
5,490
426%
5,213
399%
0

SOUTHAMPTON LIGHTHOUSE INTERNATIONAL CHRISTIAN CHURCH Naujavan fund

SLIC BALANCE SHEET

----- Start of picture text -----
31.03.2020 31.03.2021
NON-CURRENT ASSETS
285,727.93 ALL PROPERTY 285,727.93
2019 / 20 CAPITALISED EXPENDITURE Value £ Change YoY Change £
288,776.27 CAPITALISED IN PRIOR YEARS 599,654.57
310,878.30 CAPITALISED IN THE PERIOD 17,226.10
-
Income 19,669 16% -3,646
885,382.50 TOTAL NON-CURRENT ASSETS 902,608.60
Expenditure CURRENT ASSETS 17,848 -12% -2,419
HRMC GIFT AID RECEIVABLE
2,687.18 SLIC GENERAL AND BUILDING FUND 4,212.55
Income over expenditure309.00 PROJECTS 1,821 -46% 807.50 -1,524
BANK AND CASH
Balance 1,011.32 CASH GROUPS 17,038 +12% 801.46 1,821
3,548.77 CURRENT ACCOUNT -BUILDING 50.57
4,274.29 CURRENT ACCOUNT-NAUJAVAN 113.16
3,494.00 CURRENT ACCOUNT-PROJECTS 5,001.00
Key income 856.28Value £CURRENT ACCOUNTS - GENERALChange Key expend Value £17,081.84 Change
38.95 DEPOSIT ACCOUNTS - BUILDING -
12,569.74 DEPOSIT ACCOUNTS - NAUJAVANYOY - YOY
8,447.56 DEPOSIT ACCOUNTS - PROJECTS 26,451.60
25,714.50 DEPOSIT ACCOUNTS - GENERAL 31,725.11
Gifts(inc cash) 10,551 -14% Salary 7,820 -28%
62,951.59 TOTAL CURRENT ASSETS 86,244.79
Events 948,334.09 6,590 TOTAL ASSETS +52% Events 9,278 988,853.39 +13%
NON-CURRENT LIABILITIES
Gift aid 144,437.72 2,201STEWARDSHIP LOAN -20% Transport 133,934.49 206 -49%
3,000.00 STEWARDSHIP LOAN INTEREST 1,800.00
29,625.00 OTHER LOAN 28,375.00
Naujavan has see 177,062.72 n a stable level of income and expenditure. A TOTAL NON-CURRENT LIABILITIES sides from salary, 164,109.49 the
CURRENT LIABILITIES
majority of the cash movements are event related. Events were held in Coventry, 3,365.51 VENTURE -
Southall, Weeken 180,428.23 d away, East London and Naujavan Girl. We TOTAL LIABILITIES were encouraged t 164,109.49 hat the
annual weekend away in November broke-even largely due to generous giving that
RESERVES
BROUGHT FORWARD BALANCES
helped support attendees who were unable to afford to attend. We continued to
701,944.21 GENERAL & BUILDING FUND 738,811.27
support events in Canada last year. We received a one-off £4k grant in 2018 so income 26,766.93 PROJECTS 29,094.59
in 2019 is level with the previous year. PROFIT/LOSS IN THE PERIOD
36,867.06 GENERAL & BUILDING FUND 60,005.52
2,327.66 PROJECTS 3,278.67
Unfortunately, all the events planned for this year are now either cancelled or
postponed. Sanjay and Sam will continue to reach out to Naujavan’s current community 767,905.86 TOTAL RESERVES 831,190.05
and also look to hold events in accordance with Government legislation or onlin 948,334.09 TOTAL LIABILITIES + RESERVES 995,299.54 e.
0.00 (6,446.15)
----- End of picture text -----

Questions IHO(/ 4rioNI

Thank you IHO(/ 4rioNI