**REGISTERED COMPANY NUMBER: 12160439 (England and Wales) REGISTERED CHARITY NUMBER: 1186661**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024**
## **FOR**
**FAITH IN LATER LIFE LTD (A COMPANY LIMITED BY GUARANTEE)**
Higginson & Co (UK) Ltd 3 Kensworth Gate 200 - 204 High Street South Dunstable Bedfordshire LU6 3HS
**FAITH IN LATER LIFE LTD**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**|6|to|7|
|**Notes to the Financial Statements**|8|to|13|
|**Detailed Statement of Financial Activities**||14||
**FAITH IN LATER LIFE LTD**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
The main objectives and aims of the charity are -
to advance the Christian faith by inspiring and equipping Christians and churches to serve and equip older people in their Christian service, and
to engage effectively with older people in communities everywhere, and to bring older people into Christian faith and community, for the public benefit.
## **Significant activities**
During the year to 31 March 2024 the following were our significant activities -
We supported nine hundred 'Church Champions' who are regularly engaging with around 40,000 older people. Some are seeing older people come to faith, whilst almost all are encouraged by decreased loneliness, strengthening faith and increased church engagement, as a result of their work.
21,000 people accessed our website of resources to support them in their ministry among older people, our social media reach was 14,000 people, and the newsletter reached 2000 people per month.
We championed the cause of older people and inspired and equipped Christians by reaching many people (sometimes 3 million) across Christian radio and TV, and BBC local and national radio, as well as significant Christian publications.
We produced resources and delivered our Love My Neighbour winter campaign to help volunteers and our Church Champions reach out to lonely and isolated people.
In 2023/24 900 unique callers to the DailyHOPE were supported with over a million call minutes bringing hope and comfort through almost 100,000 calls.
We inspired and equipped Church Champions through 6 online Church Champion Training sessions from experts in the field, and we continued to make this training available after each event. As a result of Church Champion research, we began to focus on key issues that concern those ministering among older people in their local communities; loneliness, sharing the gospel, and bereavement.
We have provided online networking opportunities for our Church Champions through six zoom events, providing prayer, encouragement and guidance to those serving older people in their communities.
We have developed partnerships with and delivered training, talks, and podcasts for denominations, para church organisations, and churches, to encourage and equip them to practically value older people and help them to have faith in later life.
We continued to develop a response to the Archbishop of Canterbury's Reimagining Care Commission and collaborated with the Church of England to deliver this.
1
**FAITH IN LATER LIFE LTD**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024**
## **OBJECTIVES AND ACTIVITIES**
## **Public benefit**
The charity meet the requirement for public benefit by -
- providing resources and information regarding different aspects of older age to equip Christians and churches to better serve older people; via the website and in the media.
- supporting a network of Christians involved with older people in the church/community. This support is via shared resources and online training events.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
We supported nine hundred 'Church Champions' engaging with older people, advancing the Christian faith; addressing loneliness; and encouraging older people in their gifts an ministries.
Our Facebook reach is around 14,000 people, and the newsletter reaches two thousand people per month.
In the year 900 unique callers to the DailyHOPE were supported with over a million call minutes bringing hope and comfort through almost 100,000 calls.
The "Love my Neighbour "campaign encouraged churches to reach out to older people in the dark and cold winter months.
We inspired and equipped Christians by reaching many people across Christian radio and tv, and BBC local radio
## **Fundraising activities**
We secured grants from the founding organisations that support Faith in Later Life, as well as securing the final year of a grant from an external grant funding Trust.
## **FINANCIAL REVIEW**
## **Financial position**
The charity ended the year with a surplus of £2,658 (2023 deficit £53,587). This comprises a deficit of £438 on the Daily Hope restricted fund and a surplus of £3,096 on the unrestricted fund. The reserve amounted to £81,120 (2023 £78,463). Of these restricted funds totalled £59,361 (2023 £59,799).
## **Principal funding sources**
These were:
- Grants from organisations who were involved in setting up the charity.
- Grants from grant funding organisations
- Donations and fundraising from supporters and volunteers.
- Transfers of funds into a restricted fund to support DailyHope.
## **Investment policy and objectives**
The trustees consider the present policy of investing funds in bank accounts offers the least risk in the current economic climate.
## **Reserves policy**
The trustees have considered the requirements for the reserves policy based on the main risks of the charity. The trustees targeted aims are for the charity reserves are to have three months operating costs held in reserve.
## **Going concern**
The trustees consider that there are sufficient funds available to ensure the charity continuing as a going concern and continue to actively search for new funding sources. The charity has the continued commitment from the initial funding partners...
2
**FAITH IN LATER LIFE LTD**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Recruitment and appointment of new trustees**
Trustees will be appointed through Board approval. A trustee skill and experience matrix is maintained and gaps are addressed through Board development.
## **Organisational structure**
The Charity has two members: Pilgrims' Friend Society, and Keychange. They are represented by two individuals who are Trustees. There are three other additional Trustees. Trustees appoint a Chair of Trustees annually.
## **Wider network**
The charity is run by the Chief Executive Officer who is the sole employee. Additional administrative support is provided by a subcontracted relationship as it can be afforded. IT (web), communications and payroll is outsourced.
The charity is a part of three wider networks, 'Churches Together in England', 'Evangelical Alliance' and 'Affinity'.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
12160439 (England and Wales)
## **Registered Charity number**
1186661
## **Registered office**
175 Tower Bridge Road London SE1 2AL
## **Trustees**
S Hammersley Chair E Cobb T Puttick A Wileman R Chaplin
## **Independent Examiner**
Higginson & Co (UK) Ltd 3 Kensworth Gate 200 - 204 High Street South Dunstable Bedfordshire LU6 3HS
Approved by order of the board of trustees on 12th December 2024 and signed on its behalf by:
12/12/24
S Hammersley Chair - Trustee
3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FAITH IN LATER LIFE LTD**
## **Independent examiner's report to the trustees of Faith in Later life Ltd ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2024.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Donald M Brown
Higginson & Co (UK) Ltd 3 Kensworth Gate 200 - 204 High Street South Dunstable Bedfordshire LU6 3HS
12th December 2024
4
## **FAITH IN LATER LIFE LTD**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
106,221
Other trading activities
2
61
Other income
-
**Total**
106,282
**EXPENDITURE ON**
**Charitable activities**
Resources
44,985
Other
58,201
**Total**
103,186
**NET INCOME/(EXPENDITURE)**
3,096
**RECONCILIATION OF FUNDS**
Total funds brought forward
18,663
**TOTAL FUNDS CARRIED FORWARD**
21,759|Restricted
fund
£
79,555
-
-
79,555
79,993
-
79,993
(438)
59,799
59,361|2024
Total
funds
£
185,776
61
-
185,837
124,978
58,201
183,179
2,658
78,462
81,120|2023
Total
funds
£
155,736
15
1,137|
|---|---|---|---|
||||156,888|
||||34,284
69,017|
||||103,301|
||||53,587
24,875|
||||78,462|
The notes form part of these financial statements
5
## **FAITH IN LATER LIFE LTD**
## **BALANCE SHEET 31ST MARCH 2024**
|Unrestricted
Restricted
fund
fund
Notes
£
£
**FIXED ASSETS**
Tangible assets
7
374
-
**CURRENT ASSETS**
Debtors
8
1,547
-
Cash at bank
22,114
59,361
23,661
59,361
**CREDITORS**
Amounts falling due within one year
9
(2,276)
-
**NET CURRENT ASSETS**
21,385
59,361
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
21,759
59,361
**NET ASSETS**
21,759
59,361
**FUNDS**
10
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|2024
Total
funds
£
374
1,547
81,475
83,022
(2,276)
80,746
81,120
81,120
21,759
59,361
81,120|2023
Total
funds
£
-
-
78,462|
|---|---|---|
|||78,462
-|
|||78,462|
|||78,462|
|||78,462|
|||18,663
59,799|
|||78,462|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
6
continued...
## **FAITH IN LATER LIFE LTD**
## **BALANCE SHEET - continued 31ST MARCH 2024**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 12th December 2024 and were signed on its behalf by:
**----- Start of picture text -----**
12/12/24
**----- End of picture text -----**
S Hammersley Chair - Trustee
The notes form part of these financial statements
7
**FAITH IN LATER LIFE LTD**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
8
**FAITH IN LATER LIFE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024**
## **2. OTHER TRADING ACTIVITIES**
|**2.**|**OTHER TRADING ACTIVITIES**|||
|---|---|---|---|
|||2024|2023|
|||£|£|
||Sale of resources|61|15|
|**3.**|**NET INCOME/(EXPENDITURE)**|||
||Net income/(expenditure) is stated after charging/(crediting):|||
|||2024|2023|
|||£|£|
||Depreciation - owned assets|125|-|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023.
## **5. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Administration
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
99,610
Other trading activities
15
Other income
1,137
**Total**
100,762
**EXPENDITURE ON**
**Charitable activities**
Resources
34,284
Other
67,517|2024
1
Restricted
fund
£
56,126
-
-
56,126
-
1,500|2023
1
Total
funds
£
155,736
15
1,137|
|---|---|---|
|||156,888|
|||34,284
69,017|
## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
continued...
9
**FAITH IN LATER LIFE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024**
|**6.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**||
|---|---|---|---|---|
|||Unrestricted|Restricted|Total|
|||fund|fund|funds|
|||£|£|£|
||**Total**|101,801|1,500|103,301|
||**NET INCOME/(EXPENDITURE)**|(1,039)|54,626|53,587|
||**RECONCILIATION OF FUNDS**||||
||Total funds brought forward|19,702|5,173|24,875|
||**TOTAL FUNDS CARRIED FORWARD**|18,663|59,799|78,462|
|**7.**|**TANGIBLE FIXED ASSETS**||||
|||||Computer|
|||||equipment|
|||||£|
||**COST**||||
||Additions|||499|
||**DEPRECIATION**||||
||Charge for year|||125|
||**NET BOOK VALUE**||||
||At 31st March 2024|||374|
||At 31st March 2023|||-|
|**8.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
||||2024|2023|
||||£|£|
||Other debtors||24|-|
||Prepayments||1,523|-|
||||1,547|-|
continued...
10
**FAITH IN LATER LIFE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024**
## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Social security and other taxes
**10.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Restricted
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Restricted
**TOTAL FUNDS**|At 1.4.23
£
18,663
59,799
78,462
Incoming
resources
£
106,282
79,555
185,837|2024
2023
£
£
1,576
-
700
-
2,276
-
Net
movement
At
in funds
31.3.24
£
£
3,096
21,759
(438)
59,361
2,658
81,120
Resources
Movement
expended
in funds
£
£
(103,186)
3,096
(79,993)
(438)
(183,179)
2,658|
|---|---|---|
continued...
11
**FAITH IN LATER LIFE LTD**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024**
## **10. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|At 1.4.22
£
**Unrestricted funds**
General fund
19,702
**Restricted funds**
Restricted
5,173
**TOTAL FUNDS**
24,875
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
100,762
**Restricted funds**
Restricted
56,126
**TOTAL FUNDS**
156,888|Net
movement
At
in funds
31.3.23
£
£
(1,039)
18,663
54,626
59,799
53,587
78,462
Resources
Movement
expended
in funds
£
£
(101,801)
(1,039)
(1,500)
54,626
(103,301)
53,587|Net
movement
At
in funds
31.3.23
£
£
(1,039)
18,663
54,626
59,799
53,587
78,462
Resources
Movement
expended
in funds
£
£
(101,801)
(1,039)
(1,500)
54,626
(103,301)
53,587|
|---|---|---|
|||53,587|
A current year 12 months and prior year 12 months combined position is as follows:
|||Net||
|---|---|---|---|
|||movement|At|
||At 1.4.22|in funds|31.3.24|
||£|£|£|
|**Unrestricted funds**||||
|General fund|19,702|2,057|21,759|
|**Restricted funds**||||
|Restricted|5,173|54,188|59,361|
|**TOTAL FUNDS**|24,875|56,245|81,120|
continued...
12
**FAITH IN LATER LIFE LTD**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024**
## **10. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted
**TOTAL FUNDS**|Incoming
resources
£
207,044
135,681
342,725|Resources
Movement
expended
in funds
£
£
(204,987)
2,057
(81,493)
54,188
(286,480)
56,245|Resources
Movement
expended
in funds
£
£
(204,987)
2,057
(81,493)
54,188
(286,480)
56,245|
|---|---|---|---|
||||56,245|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31st March 2024.
13
## **FAITH IN LATER LIFE LTD**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
General grants received
**Other trading activities**
Sale of resources
**Other income**
Other income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
DailyHOPE costs
Church champion project
Website costs
Communications and marketing
Office and computer costs
Conference and travel
Sundries
**Other**
Wages
Donations given
Admin support and programme costs
Computer equipment
**Support costs**
**Finance**
Bank charges
Total resources expended
**Net income**|2024
£
85,776
100,000
185,776
61
-
185,837
96,286
978
4,400
15,606
4,106
2,350
1,192
124,918
23,030
-
35,046
125
58,201
60
183,179
2,658|2023
£
59,636
96,100|
|---|---|---|
|||155,736
15
1,137|
|||156,888
-
331
10,453
14,779
1,359
4,255
3,107|
|||34,284
32,307
1,500
35,210
-|
|||69,017
-|
|||103,301|
|||53,587|
This page does not form part of the statutory financial statements
14