##
|Contents|Contents|||
|---|---|---|---|
|Charity
information
.||||
|Trustees report.||||
|Statement of|trustees'|responsibilities||
|Independent|Auditors|report.||
|Consolidated|Statement
of Financial||Activities|
|Consolidated|Balance|Sheet..||
|Charity Balance Sheet.||||
|Consolidated|statement
ofcashflows||.|
|Notes to the|financial|statements.||
##
|Charity registration|Charity registration|Charity registration|number|number|1185953||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Company|registration|||number|11973632||||||
|Governing|instrument||||Memorandum
And Articles|||Incorporated||1 May 2019|
|Trustees|||||P F Manchester||||||
||||||Pastor J M James||||||
||||||Pastor L Bryant (appointed|||29June 2022)|||
||||||J Dowds (appointed|29June 2022)|||||
||||||RV Atkin (appointed||28 September 2022)||||
||||||J Barnes (appointed|28 September 2022)|||||
||||||M A Walker (resigned||29|June|2022|)|
||||||E M F Ajayi (resigned||28|September 2022)|||
||||||S D Gambill (resigned||14|December 2022)|||
|Registered||Office|||Life Church
Ministries||||||
||||||Wapping
Road||||||
||||||Bradford||||||
||||||BD3OEQ||||||
|Independent||Auditor|||Watson Buckle Limited
Statutory
Auditor and Chartered||||Accountants||
||||||York House||||||
||||||Cottingley
Business|Park|||||
||||||Bradford||||||
||||||BD161PE||||||
|Bankers|||||Barclays Bank Pic||||||
||||||10Market Street||||||
||||||Bradford||||||
||||||BD1 1EG||||||
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||||||Total|
|---|---|---|---|---|---|
|||Notes|Unrestricted|Restricted|Funds|
||||Funds|Funds|2021|
||||||F|
|Income||||||
|Donations
and Legacies|||7,258,925|611,467|7,870,392|
|Other trading
activities||4(a)|402,841||402,841|
|Charitable
activities|||106,827||106,827|
|Investments|||35||35|
|Other|||279,906||279,906|
|Total Income|||8,048,534|611,467|8,660,001|
|Expenditure||||||
|Charitable
activities|||2,121,274|128,456|2,249,730|
|Other expenditure||4(b)|394,577||394,577|
|Total Expenditure|||2,515,851|128,456|2,644,307|
|Net Income/(expenditure)|||5,532,683|483,011|6,015,694|
|Transfers
between|funds|22|165,443|(165,443)||
|Reconciliation
of|funds|||||
|Total funds brought|forward|22||||
|Total funds carried forward|||5,698,126|317,568|6,015,694|
##
##
|||||Group|
|---|---|---|---|---|
||||Notes|Funds|
|||||2021f|
|Fixed assets|||||
|Tangible assets|||13|7,284,932|
|Investments|||14||
|||||7,284,932|
|Current assets|||||
|Stock
Debtors|||15
'16|9,089
208,427|
|Cash at bank||in hand|17|740,211|
|||||957,727|
|Liabilities|||||
|Creditors: due||within one year|18|(1,068,122)|
|Net current (liabilities)/assets||||110,395|
|Total assets less|current liabilities||||
|Less: Creditors —due after one year|||19|(1,158,843)|
|||||6,015,694|
|The funds ofthe|charity||||
|Unrestricted|income funds||22|3,550,911|
|Revaluation|reserve||22|2,147,215|
|Total unrestricted|income funds|||5,698,126|
|Restricted funds|||22|317,568|
|Total charity funds||||6,015,694|
##
|||||Charity|Charity|
|---|---|---|---|---|---|
||||Notes|Funds|Funds|
|||||2021|2020f|
|Fixed assets||||||
|Tangible assets|||13|7,072,039||
|Investments|||14|3||
|||||7,072,042||
|Current assets||||||
|Stock|||15|||
|Debtors|||16|246,284||
|Cash at bank||in hand|17|659,662||
|||||905,946||
|Liabilities||||||
|Creditors: due||within one year|18|(825,595)||
|Net current (liabilities)/assets||||80,351||
|Total assets less|current liabilities|||||
|Less: Creditors —due after one year|||19|(1,136,699)||
|||||6,015,694||
|The funds ofthe|charity|||||
|Unrestricted|income funds||22|3,550,911||
|Revaluation|reserve||22|2,147,215||
|Total unrestricted|income funds|||5,698,126||
|Restricted funds|||22|317,568||
|Total charity funds||||6,015,694||
##
|||||2021|
|---|---|---|---|---|
|Cashflows
from operating
activities|||||
|Net incoming
resources before||||6,015,694|
|other recognised
gains/(losses)|||||
|Depreciation||||202,977|
|(Gain)/Loss
on disposal offixed assets||||(2,140)|
|interest received||6||(35)|
|Interest paid||12||14,754|
|Decrease
in stock||||5,550|
|Decrease
in debtors||||75,107|
|(Decrease) in creditors||||(305,815)|
|Gift ofnet assets from Life Church
UK||||~5,719,849|
|Net cash inflow from incoming
resources||||286,243|
|Cashflows
from Investing
activities|||||
|Interest received|||35||
|Purchase oftangible
fixed assets|||(61,062)||
|Proceeds from sale oftangible
fixed assets|||2,428||
|Net cash flow from investing
activities||||(58,599)|
|Cash flows from financing
activities|||||
|Proceed from new loans|||540,000||
|Repayment
of loans|||(150,948)||
|Repayment
offinance lease liabilities
Interest paid||12|(13,328)
~14,754||
|Net cash flows from financing
activities||||360,970|
|Net increase
in cash and cash equivalents||||588,614|
|Cash and cash equivalents
acquired;|gift ofnet assets from|||151,597|
|Life Church
UK 1 January 2021|||||
|Cash and cash equivalents
at 29 December 2021||17||740,211|
##
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|Freehold|Buildings|2%on cost|
|---|---|---|
|Leasehold|improvements|10%on cost|
|Fixtures,|Fittings & Equipment|15%on cost|
|Computer|8 Media Equipment|15%on cost|
|Motor Vehicles||25%on cost|
##
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|4|Income from trading
acti|vities ofsubs|vities ofsubs|vities ofsubs|idiary|idiary|idiary|idiary||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||The charity has one wholly|owned trading|||subsidiary.||||Abundant||Life Resources||Limited (Note||14)which|
||is incorporated
in England||and|Wales sells merchandise||||||related to the charity's|||objectives|through
as||
||shop,
mail
order
and
via||the|internal.|Funds|||are|also|raised|by hosting|conferences||for external||
||organisations.
When available,|||distributable||profits|||are donated||to the charity|under Gift Aid.||||
||||||||||||||||2021|
||4(a) Incoming resources
Merchandising
and events||(other trading|||activities|||in SOFA)||||||402,841|
||Other operating
income (other|||income|in|SOFA)|||||||||81,185|
||Profit on disposal offixed||assets (other||income|||in|SOFA)||||||30|
||Total incoming
resources||||||||||||||484,056|
||||||||||||||||2021|
||4(b) Merchandising,
event and|||administration|||costs||||||||394,577|
||Other expenditure||||||||||||||394,577|
|5|Income from charitable
activities|||||||||||||||
||||||||||||||||2021|
||Educational
and training|activities|||||||||||||98,031|
||Worship,
celebration
and||youth events||||||||||||8,796|
||||||||||||||||106,827|
|6|Income from investments|||||||||||||||
||||||||||||||||2021|
||interest received||||||||||||||35|
|7|Other Income|||||||||||||||
||||||||||||||||2021|
||Government
Grants Job|Retention Scheme|||||||||||||239,708|
||Other income||||||||||||||38,058|
||Profit on disposal offixed||assets||||||||||||2,140|
||||||||||||||||279,906|
|8|Expenditure
on Charitable|activities|activities|activities||Unrestricted
Restricted|Unrestricted
Restricted|Unrestricted
Restricted||
|---|---|---|---|---|---|---|---|---|---|
||||||||2021|2021|2021|
|||||||||F||
||Charity's objectives
Ministry Support —individuals
Staff costs||and|organisations|||31,617
1,320,450||31,617
1,320,450|
||Marketing
and publicity
Provision and Maintenance|of|Premises||and||13,733
348,234|10,295|13,733
358,529|
||Equipment
Administration
costs||||||172,039|118,161|290,200|
||Depreciation||||||154,399||154,399|
||||||||2,040,472|128,456|2,168,928|
||Governance costs|||||||||
||Audit services||||||30,000||30,000|
||Professional fees||||||50,802||50,802|
||||||||80,802||80,802|
||Total expenditure
on charitable|||activities|||2,121,724|128,456|2,243,730|
|9|Auditor's
remuneration|||||||||
||||||||||2021|
||Fees payable to the charity's||auditor for the audit|||ofthe|charity's
annual|accounts|30,000|
||Fees payable to the charity's
auditor for other services:
Audit ofthe charity's subsidiaries||||||||26,600|
##
##
|||||||2021|
|---|---|---|---|---|---|---|
||Salaries and other short-term
employee
Social Security costs
Defined contribution
pension costs|||benefits||305,141
35,466
6,145|
|||||||346,752|
|11|Staff costs and employee
benefits|||||2021|
||Wages and salaries
Social Security
Defined contribution
pension costs
Other staff costs|||||1,196,069
91,674
20,886
11,821|
|||||||1,320,450|
|||||||Number|
||Number|ofemployees
receiving|benefits|(excluding|employer's||
||pension|costs) which fell within|880,000|-f90,000|||
||Average|number ofemployees||||55|
|12|Interest|payable and similar expenses||||2021|
||Bank loans and overdrafts|||||12,937|
||Finance|charges payable
under|finance|leases||1,817|
|||||||14,754|
##
|13|Tangible fixed assets||||||
|---|---|---|---|---|---|---|
|||Freehold||Fixtures|Computer||
||Group|Land &
Buildings|Leasehold
Improvements|Fittings &
Equipment|&Media
Equipment|Total|
||Cost or revaluation||||||
||At 1 January 2021
Gifts from other|6,720,272|237,781|318,044|98,455|7,374,552|
||charities||||||
||Additions|59,437||1,625|52,612|113,674|
||Disposals|||7,060||7,060|
||At 29 December 2021|6,779,709|237,781|312,609|151,067|7,481,166|
||Depreciation||||||
||At 1 January 2021
Charge for the year
Disposals|58,874|28,637|77,085
6,773|38,411|203,007
6,773|
||At 29 December 2021|58,874|28,637|70,312|38,411|196,234|
||Net book value||||||
||At 29 December 2021|6,720,835|209,144|242,297|112,656|7,284,932|
|espect ofassets held und|er finance lea|ses.||||
|---|---|---|---|---|---|
||Freehold||Fixtures|Computer||
|Charity|Land &
Buildings|Leasehold
Improvements|Fittings &
Equipment|&Media
Equipment|Total|
|Cost or revaluation||||||
|Gifts from other|6,720,272|160,464|231,249|57,451|7,169,436|
|charities||||||
|Additions|59,437||||59,437|
|Disposals|||5,500||5,500|
|At 29 December 2021|6,779,709|160,464|225,749|57,451|7,223,373|
|Depreciation||||||
|At 1 January 2021
Charge for the year
Disposals|58,874|20,046|53,606
5,500|24,308|156,834
5,500|
|At 29 December 2021|58,874|20,046|48,106|24,308|151,334|
|Net book value||||||
|At 29 December 2021|6,720,835|140,418|177,643|33,143|7,072,039|
##
##
|Investment|in subsidiaries||||||
|---|---|---|---|---|---|---|
||||||Percentage|of|
||||Number|and class|authorised||
|Subsidiary|company|Nature ofbusiness|ofshares|held|share capital||
|Momentum|AV Ltd|Dormant|1 Ordinary||100%||
|(Company|number 04198813)||||||
|Abundant|Life Music Limited|Dormant|1 Ordinary||100%||
|(Company|number 05194693)||||||
|Abundant|Life Resources
Limited|Merchandising|1 Ordinary||100%||
|(Company|number 04375729)|and conferences|||||
##
##
##
|16|Debtors||||||||
|---|---|---|---|---|---|---|---|---|
||||||||Group|Charity|
||||||||2021f|2021|
||Trade debtors||||||107,803|101,073|
||Other debtors||||||23,076|88|
||Prepayments
Amount
owed|and accrued income
by group undertakings|||||77,548|53,169
91,954|
||||||||208,427|246,284|
|17|Cash and cash equivalents||||||||
||||||||Group|Charity|
||||||||2021|2021|
||Cash and cash equivalents|||in the statement||ofcash|740,211|659,662|
||flows||||||||
||Cash at bank||||||740,211|659,662|
|18|Creditors: Amounts||falling|due within|1year||||
||||||||Group|Charity|
||||||||2021|2021|
||Trade creditors||||||113,621|80,737|
||Other creditors||||||56,921|4,145|
||Bank loans||||||552,962|552,962|
||Hire purchase||||||17,140||
||Taxation and social security||||||91,236|24,218|
||Other loans||||||100,000|100,000|
||Accruals and deferred||income||||136,241|63,534|
||||||||1,068,121|825,596|
|Cred|itors: Amounts
falling due afte'|r 1year||
|---|---|---|---|
|||Group|Charity|
|||2021|2021|
|Bank|loans|1,136,699|1,136,699|
|Hire|purchase|22,144||
|||1,158,843|1,136,699|
##
|es
uarantee)
atements
ber 2021||
|---|---|
|Group|Charity|
|2021|2021f|
|146,105|146,105|
|990,594|990,594|
|1,136,699|1,136,699|
##
##
|Group||
|---|---|
||2021|
|Not later than one year|19,960|
|Later than one and not later than five years|24,950|
|Later than five years||
|Less finance charges|44,910
~6,626|
||39,284|
|Charity||
||2021|
|Not later than one year||
|Later than one and not later than five years||
|Less finance charges||
|Total future
minimum
lease payments
under non-cancellable|operating
leases are as follo|ws:|
|---|---|---|
||Land &||
||Buildings|Other|
|Group|2021|2021|
|Not later than one year|186,519|14,417|
|Later than one and not later than five years|551,021|48,342|
|Later than five years|666,052||
||1,403,592|62,759|
||Land &||
|---|---|---|
||Buildings|Other|
|Charity|2021|2021|
|Not later than one year
Later than one and not later than five years|186,519
551,021||
|Later than five years|666,052||
||1,403,592||
##
|Deferred income|||
|---|---|---|
||Group|Charity|
|Due within one year
Acquired
from gift ofnet assets from|283,898|5,908|
|Life Church
UK 1 January 2021
Additions
during the year
Amounts
released to income
Carried forward 29 December 2021|41,136
283,898
41,136|9,157
~5,908
9,157|
##
|und reconciliation|||||
|---|---|---|---|---|
|||||Balance at|
|||Net incoming||29 December|
|||Resources|Transfers|2021|
|||||R|
|Unrestricted|||||
|General||3,301,492|207,979|3,509,471|
|Designated
Cherish
Foundation||39,128||39,128|
|Christmas
Funds||2,312||2,312|
|Vision||42,536|(42,536)||
|Revaluation
reserve||2,147,215||2,147,215|
|||5,532,683|165,443|5,698,126|
|Restricted|||||
|SHE Kindness
kitty
We are one||18,591
29,009||18,591
29,009|
|Mortgage
Compassion
Conferences||357,747
6,800
6,458|(164,793)
(3,229)|192,954
6,800
3,229|
|Uganda
Daycare - CAP collection
Cherish||3,238
33
(1,929)|1,929|3,238
33|
|Cherish
Foundation|2021|(586)|586||
|YE Movement
Hampers-||29,570||29,570|
|Covid 19Relief Fund|||||
|Christmas
2020||16,749||16,749|
|Leeds electric oven||(44)|44||
|Rock Nations Vision||(21)|21||
|Rescue|||||
|Winter BoxAppeal||17,395||17,395|
|||483,011|165,443|317,568|
##
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|
quired),
showing
changes
resulting|from|||
|---|---|---|---|
||Acquired
from|||
||gift of net||At|
||assets 1||29December|
||January 2021|Cash flows|2021|
|Long term borrowing
Short term borrowing|1,300,610
100,000|389,052|1,689,661
100,000|
|Lease liabilities||39,284|39,284|
||1,400,610|389,052|1,828,945|
##
##
##
|imited re|ceivi|ng a com|mission
in exchange for acting as an|agent.|
|---|---|---|---|---|
|||||2021|
|Commission||received|from|1,075|
|Amounts|due|from||22,974|