**Registered number: 12323109 Charity number: 1187584**
## **LIFESPRING CHURCH AND CENTRE**
# **(a company limited by guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2024**
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
|**CONTENTS**||
|---|---|
||Page|
|**Reference and administrative details of the company, its trustees and advisers**|1|
|**Trustees' report**|2 - 7|
|**Independent examiner's report**|8|
|**Statement of financial activities**|9|
|**Balance sheet**|10 - 11|
|**Notes to the financial statements**|12 - 32|
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024**
|**Trustees**|M G Phillips, Vice Chair (deceased 28 April 2023)|
|---|---|
||C M T M Northey, Treasurer|
||E Phillips, Chair|
||B Whitworrh|
||C Maddison|
||J Day (resigned 26 March 2024)|
||D A Simpson|
||S Prothero (appointed 12 September 2023)|
|**Company registered**
**number**
12323109
**Charity registered**
**number**
1187584
**Registered office**
Sherwood Drive
New Ollerton
Nottinghamshire
NG22 9PP
**Chief executive officer**
E Phillips
**Accountant**
Jonathan Wilson
Chartered Accountant
Cromwell House
68 West Gate
Mansfield
Nottinghamshire
NG18 1RR
**Bankers**
The Co-operative Bank PLC
P O Box 250
Skelmerdale
WN8 6WWT
NatWest Bank PLC
Bede House
11 Western Boulevard
Leicester
LE2 7EJ||
Page 1
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024**
The trustees present their annual report together with the financial statements of the company for the year from 1 April 2023 to 31 March 2024. The annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **a. Policies and objectives**
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives.
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **b. Strategies for achieving objectives**
Charitable objects
- To advance the Christian Faith
- To relieve sickness and financial hardship
- To advance education
## **c. Activities undertaken to achieve objectives**
- Sunday morning Services conducted at New Ollerton.
- Make Lunch (during school holidays)
- Distribution of Christmas hampers.
- Memory Café every Monday
- Prayer meetings in Ollerton and Church Warsop
- Drop in sessions with the local college in the Town Hall in Warsop
- Charitable giving (at home)
- Support for overseas mission
- A training cafe´
- A Charity shop in Ollerton
- CAR (Community Action Project): - Delivering food hampers
Page 2
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **Objectives and activities (continued)**
## **d. Volunteers**
The Church leaders once again recognise the wonderful contribution made by volunteers during this financial year. They continued to work tirelessly and consistently to make sure people who needed food received it in a timely manner. These volunteers care about our community and want to make people’s lives better by sharing the love of God and meeting needs. They sacrifice their time, talents, and finances to do so. It is estimated that the Church benefited from hundreds of hours voluntary service each week and more than 80 volunteers were involved. These volunteer hours are invaluable and without them the Church would be greatly impoverished. We thank and appreciate our volunteers very much.
These are the main areas they worked in:-
- Stewarding and welcome
- Music team
- Various ministry teams – preaching, prayer, offering etc.
- Church Council, Planning.
- Volunteers who worked for the CAR Project
- Taking phone calls for help
- Procuring food
- Stock control
- Preparing food
- Cafe work including food prep, Front of house and Cleaning
- Packing hampers
- Delivering hampers
- Leading and managing the project
- Administration
- Turnaround - Charity Shop. Managing the shop including, serving customers, managing the donations.
## **Achievements and performance**
## **a. Main achievements of the company**
2023 - 2024, the main activities undertaken for the public benefit in relation to our charitable purposes were: -
## **1. Community Action Response**
The CAR project continues to respond to the impacts of COVID -19 and the Cost of Living Crisis. This project served towns and villages in North Nottinghamshire - all in our catchment area.
The CAR project continued to supply their clients in need. Nottinghamshire County Council, Local Councillors, Unite 57 and other charities provided funding. We received amazing support again throughout the financial year from the Farnsfield residents who have adopted our CAR Project/Food Bank and they supported us with food and with monetary donations, running street collections and other fundraising activities. We are so grateful to all our supporters! Food donations from the community have decreased due to the cost of living crisis but the project was still able to meet the high demand.
## **2. Make Lunch**
The Make Lunch project is a nationwide initiative that provides a free hot meal to children from low-income families during the school holidays. This project has been running at Lifespring since 2014. Families in Ollerton
Page 3
## **LIFESPRING CHURCH AND CENTRE (a company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **Achievements and performance (continued)**
and Warsop were able to access fun activities with a meal for children and adults.
## **3. Christmas**
In December 2023 we distributed around 350 Christmas hampers to people in special circumstances. Yet again, there was a great group of volunteers that ensured the smooth running of this. From Admin, ensuring appropriate referrals were promoted and received, food collection from customers at our local Tesco to food being organised and packed. ROB (Recycling Ollerton and Boughton) was a fantastic help in providing trucks and volunteers to deliver the hampers.
## **4. Toys for Children**
We worked in conjunction with #MissionChristmas to ensure that children in our local area who were referred by local organisations, received at least one toy (more where we were able) and did not go without. We were able to support other groups that help vulnerable families with toys too. We worked in partnership with local agencies such as Social Services, to ensure that the most vulnerable families were provided for.
## **5. Gas & Electric Payments**
We continued to support several families with Gas and Electric grants donated by our Turnaround Charity shops.
## **6. Charity Shops (Turnaround)**
We decided as Trustees that it was impractical to continue running the charity shop in Clipstone and we took the decision to terminate the lease at the end of March 2024.
Our Ollerton Charity shop provides donated quality goods at a very affordable price, especially for families on low incomes.
- The shop serves as a contact point for the community.
- It provides opportunities for people to serve the community.
- It creates wealth for local and overseas causes.
The Trustees received regular reports concerning the performance of the shop and were very encouraged.
## **7. Community Cafe**
Oasis Cafe´ Ollerton Limited is a subsidiary company of Lifespring Church and Centre. The Cafe´ is a training centre for people with learning disabilities and disadvantaged persons within a realistic working environment. The Cafe offers work placements and teaches skills in independent living.
## **8. Let’s all Eat Partnership with ATTFE**
We worked in partnership with ATTFE to provide a ‘warm space’ where people could access a free hot meal and the opportunity to keep warm and spend time with people in a safe space. This was a huge success starting 1st Nov 2022. This Warm Space provides a hot 2 course meal and the opportunity to access training, join in craft activities for play games. It is a relaxed atmosphere and has children as young as 6 years and adults in their 70’s. It has a great social feel and people appreciate the safe space to relax and enjoy company with others with the benefit of being warm and having a hot meal.
Page 4
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **Achievements and performance (continued)**
## **Church Council Matters**
During the year, the Church Council:
1. Carefully monitored the income and expenditure of the church at each meeting to ensure that the church remained sustainable during this difficult period.
2. Looked carefully at projected budgets and cash flow to make sure the Council was able to meet the salary levels agreed for employed staff.
3. Reviewed contracts of employment for all paid members of staff and agreed the salary levels for them.
4. Started the discussion about the appointment of new staff including an Associate Minister.
5. Changes were made in the members of the Church Council. We added Sarah Prothero in Sept 2023. Joy Day retired from Church Council at the end of March 2024 and Michael Phillips was removed due to his death in April 2023.
6. Agreed to renew the lease for the Ollerton Charity shop.
7. Closed the Clipstone Charity Shop at the end of March 2023
8. Reviewed the COVID-19 risk assessment.
9. We continued to liaise with Mansfield District Council about potential properties that may be available for Lifespring. There were discussions about the potential asset transfer of Warsop Town Hall as the building was at risk of being lost to the community. A business plan was submitted for review and was accepted. Warsop Parish Council, Mansfield District Council and Lifespring began the process of asset transfer.
10. Agreed various donations to good causes from the profits of the Charity shops.
11. Monitored Health and Safety and maintenance of all equipment.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
The trust carries reserves sufficient to ensure that it has funds available to enable it to meet its aims and objectives. The trustees have examined the charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be three months of expenditure. The reserves are needed to meet the working capital requirements of the charity and the Management Committee are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding.
## **c. Principal risks and uncertainties**
The company has adopted the policies of internal controls recommended in the Charity Commission's Booklet CCS "Internal Financial Controls for Charities" wherever possible, and relevant action is taken to address any risks that are highlighted.
Page 5
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
## **Structure, governance and management**
## **a. Constitution**
Lifespring Church and Centre is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
## **b. Methods of appointment or election of trustees**
The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Memorandum of Association. New trustees are nominated by the existing trustees.
## **c. Organisational structure and decision-making policies**
During the year, Lifespring had one full time employed worker – the Pastor and a part time Assistant Pastor as well as an Administrator and a cleaner. In the cafe we employ a cafe manager and support staff. All other workers at Lifespring are volunteers and none of the volunteers received payment for running any of the mentioned groups.
## **d. Policies adopted for the induction and training of trustees**
The chair of the trustees is responsible for the induction of any new trustees. This involves awareness of trustee responsibilities, the governing document, administrative procedures, the history and philosophical approach to the organisation. A new trustee would receive a copy of the previous year's financial statements together with a copy of the Charity Commission leaflet "The Essential Trustee: What You Need To Know".
## **e. Related party relationships**
The charity owns 100% of the issued share capital of Oasis Cafe Ollerton Limited, the trading subsidiary that was set up to provide the cafe facility at the church.
## **f. Financial risk management**
The trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
## **Plans for future periods**
The charity will continue to serve the needs of the people of Ollerton and Warsop. We will continue to develop the church members and work towards spiritual and numerical growth in the congregation.
We will look at having new trustees as part of the Church Council and developing their roles.
I am grateful to God and to the many people that I am able to work alongside. Lifespring would not be the thriving place that it is without the help and support of so many volunteers. Thank you does not feel enough to describe the gratitude that I feel. Thank you all for being so amazing.
Every blessing in Christ,
Page 6
## **LIFESPRING CHURCH AND CENTRE**
**(a company limited by guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
Approved by order of the members of the board of trustees on 19 November 2024 and signed on their behalf by:
## **E Phillips**
(Chair of Trustees)
Page 7
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024**
## **Independent examiner's report to the trustees of Lifespring Church and Centre ('the company')**
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the trustees of the company (and 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 the company's accounts 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.
This report is made solely to the company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's trustees as a body, for my work or for this report.
Signed: Jonathan Wilson
Dated: 19 November 2024
Chartered Accountant
Mansfield
Page 8
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024**
|**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
**Total income**
**Expenditure on:**
Raising funds
7
Charitable activities
8
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**60,706**
**3,929**
**98,629**
**1,262**
**164,526**
**23,631**
**128,084**
**151,715**
**12,811**
**727,904**
**12,811**
**740,715**|**Restricted**
**funds**
**2024**
**£**
**13,500**
**24,332**
**-**
**-**
**37,832**
**-**
**30,472**
**30,472**
**7,360**
**29,815**
**7,360**
**37,175**|**Total**
**funds**
**2024**
**£**
**74,206**
**28,261**
**98,629**
**1,262**
**202,358**
**23,631**
**158,556**
**182,187**
**20,171**
**757,719**
**20,171**
**777,890**|Total
funds
2023
£
71,946
36,536
93,918
101
202,501
35,853
172,992
208,845
(6,344)
764,063
(6,344)
757,719|
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 12 to 32 form part of these financial statements.
Page 9
## **LIFESPRING CHURCH AND CENTRE (a company limited by guarantee) REGISTERED NUMBER: 12323109**
## **BALANCE SHEET AS AT 31 MARCH 2024**
|**Note**
**Fixed assets**
Tangible assets
12
Investments
13
**Current assets**
Stocks
14
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
**Net current assets**
Creditors: amounts falling due after more
than one year
17
**Total net assets**
**Charity funds**
Restricted funds
19
Unrestricted funds
19
**Total funds**|**2,000**
**6,652**
**207,193**
**215,845**
**(6,300)**|**2024**
**£**
**668,664**
**1**
**668,665**
**209,545**
**(100,320)**
**777,890**
**37,175**
**740,715**
**777,890**|300
4,978
175,310
180,588
(7,746)|2023
£
686,480
1
686,481
172,842
(101,604)
757,719
29,815
727,904
757,719|
|---|---|---|---|---|
Page 10
## **LIFESPRING CHURCH AND CENTRE**
**(a company limited by guarantee) REGISTERED NUMBER: 12323109**
# **BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024**
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the trustees on 19 November 2024 and signed on their behalf by:
E Phillips (Chair of Trustees)
The notes on pages 12 to 32 form part of these financial statements.
Page 11
## **LIFESPRING CHURCH AND CENTRE**
**(a company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Lifespring Church and Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 Going concern**
At the date of signing there is a degree of uncertainty about the economic impact of COVID-19, the wider geopolitical environment and the cost of living crisis. The trustees continue to monitor the position closely however they believe that the charity will maintain its current level of activity and they therefore continue to adopt the going concern basis.
## **1.3 Income**
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Page 12
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1. Accounting policies (continued)**
## **1.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **1.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **1.6 Tangible fixed assets and depreciation**
Tangible fixed assets costing £100 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
- Freehold property 2% straight line - Fixtures and fittings 20% or 1/3 straight line
Page 13
## **LIFESPRING CHURCH AND CENTRE**
**(a company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1. Accounting policies (continued)**
## **1.7 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.
Investments in subsidiaries are valued at cost less provision for impairment.
## **1.8 Stocks**
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
## **1.9 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.10 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.11 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.
## **1.12 Financial instruments**
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.13 Operating leases**
Rentals paid under operating leases are charged to the statement of financial activities on a straight line basis over the lease term.
Page 14
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1. Accounting policies (continued)**
## **1.14 Pensions**
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
## **1.15 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
## **1.16 Concessionary loans**
The company has taken advantage of Section 34 of FRS102 to recognise loans to and from public benefit entities as concessionary loans. As such the company initially recognises and measures the loan at the amount receivable, in the balance sheet. In subsequent years, the carrying value is adjusted to reflect repayments and any accrued interest, where applicable and adjusted if necessary for any impairment.
## **2. General information**
Lifespring Centre and Centre is a company limited by guarantee, registered in England and Wales, registration number 12323109 and a charitable company registered with The Charity Commission, registration number 1187584.
Page 15
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **3. Income from donations and legacies**
|**Unrestricted**
**funds**
**2024**
**£**
**Donations**
Gift Aid from Oasis Cafe
13,541
Offerings
41,211
Ghana donations
120
Gift Aid
5,734
Special offerings
100
**Grants**
Capital project - Warsop Town Hall
-
60,706
Total 2023
63,946|**Restricted**
**funds**
**2024**
**£**
-
-
-
-
-
13,500
13,500
8,000|**Total**
**funds**
**2024**
**£**
**13,541**
**41,211**
**120**
**5,734**
**100**
**13,500**
**74,206**
71,946|Total
funds
2023
£
8,945
44,563
200
7,515
2,723
8,000|
|---|---|---|---|
||||71,946|
|||||
## **4. Income from charitable activities**
|**Unrestricted**
**funds**
**2024**
**£**
CAR income
-
Church activities
544
Other church income
797
Solar panels income
1,052
Sundry income
1,536
3,929
Total 2023
5,072|**Restricted**
**funds**
**2024**
**£**
24,332
-
-
-
-
24,332
31,464|**Total**
**funds**
**2024**
**£**
**24,332**
**544**
**797**
**1,052**
**1,536**
**28,261**
36,536|Total
funds
2023
£
31,464
3,614
389
993
76|
|---|---|---|---|
||||36,536|
|||||
Page 16
**(a company limited by guarantee)**
## **LIFESPRING CHURCH AND CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **5. Income from other trading activities**
## **Income from fundraising events**
|**Unrestricted**
**funds**
**2024**
**£**
Turnaround charity shops
61,779
Room hire and associated income
34,371
Sales of product income
79
Fundraising
2,400
98,629
Total 2023
93,918|**Total**
**funds**
**2024**
**£**
**61,779**
**34,371**
**79**
**2,400**
**98,629**
93,918|Total
funds
2023
£
59,034
29,620
-
5,264|
|---|---|---|
|||93,918|
||||
## **6. Investment income**
|**Unrestricted**
**funds**
**2024**
**£**
Investment income - local cash
1,262
Total 2023
101|**Total**
**funds**
**2024**
**£**
**1,262**
101|Total
funds
2023
£
101|
|---|---|---|
||||
Page 17
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **7. Expenditure on raising funds**
## **Turnaround shops expenditure**
|**Unrestricted**
**funds**
**2024**
**£**
Premises and maintenance costs
18,335
Operational costs
5,031
Administration costs
265
23,631
Total 2023
35,853|**Total**
**funds**
**2024**
**£**
**18,335**
**5,031**
**265**
**23,631**
35,853|Total
funds
2023
£
33,051
2,575
227|
|---|---|---|
|||35,853|
||||
Page 18
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **8. Analysis of charitable expenditure**
|Direct costs
Total 2023|**Activities**
**undertaken**
**directly**
**2024**
**£**
147,565
165,105|**Support**
**costs**
**2024**
**£**
10,991
7,887|**Total**
**funds**
**2024**
**£**
**158,556**
172,992|Total
funds
2023
£
172,992|
|---|---|---|---|---|
||||||
## **Analysis of direct costs**
|Staff costs
Depreciation
CAR expenses
Premises and maintenance costs
Overseas and other support costs
Activity costs
Affiliation costs
Administration costs
Training costs
Other expenditure
Promotional materials
Capital project - Warsop Town Hall feasibilty study|**Total**
**funds**
**2024**
**£**
**49,077**
**17,817**
**18,343**
**26,385**
**10,095**
**4,470**
**3,377**
**5,632**
**912**
**1,182**
**975**
**9,300**
**147,565**|Total
funds
2023
£
54,797
17,891
32,445
21,267
11,151
8,289
3,569
6,993
2,545
2,451
1,210
2,497|
|---|---|---|
|||165,105|
Page 19
**(a company limited by guarantee)**
## **LIFESPRING CHURCH AND CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **8. Analysis of charitable expenditure (continued)**
## **Analysis of support costs**
|Independent examiner fees
Legal fees
Morgage interest
Website costs
**Independent examiner's remuneration**
Fees payable to the company's independent examiner for the independent
examination of the company's annual accounts
Fees payable to the company's independent examiner in respect of:
All other services not included above|**Total**
**funds**
**2024**
**£**
**1,650**
**91**
**8,742**
**508**
**10,991**
**2024**
**£**
**1,500**
**300**|Total
funds
2023
£
1,650
-
6,092
145|
|---|---|---|
|||7,887|
|||2023
£
1,500
300|
## **9. Independent examiner's remuneration**
Page 20
**(a company limited by guarantee)**
## **LIFESPRING CHURCH AND CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **10. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2024**
**£**
**44,292**
**3,504**
**1,281**
**49,077**|2023
£
50,001
3,587
1,209|
|---|---|---|
||||
|||54,797|
The average number of persons employed by the company during the year was as follows:
||**2024**|2023|
|---|---|---|
||**No.**|No.|
|Charitable activities|**4**|4|
No employee received remuneration amounting to more than £60,000 in either year.
Key management are the charity's trustees and the disclosure of their remuneration is given in note 11,
## **11. Trustees' remuneration and expenses**
During the year, one or more trustees has been paid remuneration or has received other benefits from an employment with the company. The remuneration or other benefits were paid in respect of their employment by the company under a legal authority 6)(g)(ii) in the company's Memorandum of Association. The value of trustees' remuneration and other benefits was as follows:
|||**2024**|2023|
|---|---|---|---|
|||**£**|£|
|M G Phillips|Remuneration|**895**|9,294|
|E Phillips|Remuneration|**34,357**|32,721|
||Pension contributions paid|**1,031**|981|
|C M T M Northey|Remuneration|**8,352**|7,593|
||Pension contributions paid|**250**|228|
During the year ended 31 March 2024, no trustee expenses have been incurred (2023 - ).
Page 21
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **12. Tangible fixed assets**
|**Cost or valuation**
At 1 April 2023
Additions
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023|**Freehold**
**property**
**£**
**713,933**
**1**
**713,934**
**36,887**
**14,279**
**51,166**
**662,768**
677,046|**Fixtures and**
**fittings**
**£**
**17,807**
**-**
**17,807**
**8,373**
**3,538**
**11,911**
**5,896**
9,434|**Total**
**£**
**731,740**
**1**|
|---|---|---|---|
||||**731,741**|
||||**45,260**
**17,817**|
||||**63,077**|
||||**668,664**|
||||686,480|
The total potential liability owed to the secured creditors at 31 March 2024 amounted to £101,965 which represents 15.24% of the net book value of the tangible fixed assets at that date.
Page 22
**(a company limited by guarantee)**
## **LIFESPRING CHURCH AND CENTRE**
|**NOTES TO THE FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2024**|||
|---|---|---|
|**13.**
**Fixed asset investments**
**Cost or valuation**
Additions
At 31 March 2024
**Net book value**
At 31 March 2024
**14.**
**Stocks**
Finished goods and goods for resale
**15.**
**Debtors**
**Due within one year**
Trade debtors
Concessionary loans
Other debtors
Tax recoverable|**2024**
**£**
**2,000**
**2024**
**£**
**632**
**1,740**
**-**
**4,280**
**6,652**|**Investments**
**in**
**subsidiary**
**companies**
**£**
**1**
**1**
**1**
2023
£
300
2023
£
200
1,740
150
2,888
4,978|
Page 23
**(a company limited by guarantee)**
## **LIFESPRING CHURCH AND CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **16. Creditors: amounts falling due within one year**
|Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**2024**
**£**
**1,645**
**117**
**869**
**285**
**3,384**
**6,300**|2023
£
1,780
1,231
840
269
3,626|
|---|---|---|
||||
|||7,746|
The loan from Kingdom Bank is repayable over 26 years 11 months starting in March 2020 at a monthly amount of £865.58 and the interest rate chargeable is 3.50% above the higher of the Bank of England Base Rate from time to time.
The loan from Kingdom Bank, the aggregate of which amounts to £101,965 is secured on the freehold property by way of a fixed and floating charge.
Page 24
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **17. Creditors: amounts falling due after more than one year**
|Bank loans
Included within the above are amounts falling due as follows:
**Between one and two years**
Bank loans
**Between two and five years**
Bank loans
**Over five years**
Bank loans|**2024**
**£**
**100,320**
**2024**
**£**
**1,645**
**4,935**
**93,740**|2023
£
101,604|
|---|---|---|
|||2023
£
1,780|
|||5,340|
|||94,484|
The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is:
||**2024**|2023|
|---|---|---|
||**£**|£|
|Payable or repayable by instalments|**93,740**|94,484|
The loan from Kingdom Bank is repayable over 26 years 11 months starting in March 2020 at a monthly amount of £865.58 and the interest rate chargeable is 3.50% above the higher of the Bank of England Base Rate from time to time.
The loan from Kingdom Bank, the aggregate of which amounts to £105,164 is secured on the freehold property by way of a fixed and floating charge.
Page 25
**(a company limited by guarantee)**
## **LIFESPRING CHURCH AND CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **18. Financial instruments**
|**Financial assets**
Financial assets measured at fair value through income and expenditure
**Financial liabilities**
Other financial liabilities measured at fair value through income and
expenditure|**2024**
**£**
**207,825**
**2024**
**£**
**105,382**|2023
£
175,510|
|---|---|---|
|||2023
£
107,915|
Financial assets measured at fair value through income and expenditure comprise the bank and cash balances and trade debtors.
Other financial liabilities measured at fair value through income and expenditure comprise the loan finance provided by Kingdom Bank, trade creditors and accruals.
Page 26
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **19. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
**Designated funds**
Freehold Property Fund
Ladies Ministry
Vision
Memory Cafe
**General funds**
General Fund
**Total Unrestricted funds**
**Restricted funds**
CAR project
Active Partners project
Restricted Fund 5
**Total of funds**|**Balance at 1**
**April 2023**
**£**
**573,662**
**196**
**9,597**
**2,707**
**586,162**
**141,742**
**727,904**
**Balance at 1**
**April 2023**
**£**
**17,963**
**3,584**
**8,268**
**29,815**
**757,719**|**Income**
**£**
**-**
**-**
**-**
**-**
**-**
**164,526**
**164,526**
**Income**
**£**
**24,332**
**-**
**13,500**
**37,832**
**202,358**|**Expenditure**
**£**
**-**
**-**
**-**
**-**
**-**
**(151,715)**
**(151,715)**
**Expenditure**
**£**
**(18,343)**
**-**
**(12,129)**
**(30,472)**
**(182,187)**|**Transfers**
**in/out**
**£**
**(12,858)**
**223**
**9,875**
**(1,464)**
**(4,224)**
**4,224**
**-**
**Transfers**
**in/out**
**£**
**-**
**-**
**-**
**-**
**-**|**Balance at**
**31 March**
**2024**
**£**
**560,804**
**419**
**19,472**
**1,243**|
|---|---|---|---|---|---|
||||||**581,938**|
||||||**158,777**|
||||||**740,715**|
||||||**Balance at**
**31 March**
**2024**
**£**
**23,952**
**3,584**
**9,639**|
||||||**37,175**|
||||||**777,890**|
Page 27
**(a company limited by guarantee)**
## **LIFESPRING CHURCH AND CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **19. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
**Designated funds**
Freehold Property Fund
Ladies Ministry
Boys Brigade
Warsop Youth and Children
Vision
Freedom Cafe - Warsop
Weddings and Party Money
Memory Cafe
Make Lunch CAR
Oasis Hub
**General funds**
General Fund
**Total Unrestricted funds**
**Restricted funds**
CAR project
Active Partners project
Chetwode Foundation
Town Hall project
**Total of funds**|Balance at
1 April 2022
£
586,161
109
705
188
7,039
200
1,314
5,493
494
5,779
607,482
131,288
738,770
18,944
3,584
2,765
-
25,293
764,063|Income
£
-
-
-
-
-
-
-
-
-
-
-
163,037
163,037
31,464
-
-
8,000
39,464
202,501|Expenditure
£
-
-
-
-
-
-
-
-
-
-
-
(173,903)
(173,903)
(32,445)
-
-
(2,497)
(34,942)
(208,845)|Transfers
in/out
£
(12,499)
87
(705)
(188)
2,558
(200)
(1,314)
(2,786)
(494)
(5,779)
(21,320)
21,320
-
-
-
(2,765)
2,765
-
-|Balance at
31 March
2023
£
573,662
196
-
-
9,597
-
-
2,707
-
-|
|---|---|---|---|---|---|
||||||586,162|
||||||141,742|
||||||727,904|
||||||17,963
3,584
-
8,268|
||||||29,815|
||||||757,719|
Page 28
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **19. Statement of funds (continued)**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
The Freehold Property Fund represents the amount of charity funds locked up in freehold property held for operational purposes, and is equivalent to its year-end book amount less the loans outstanding on the freehold property. This fund is unwound by transfers to the General Fund to reflect usage on an annual basis.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes.
Page 29
**(a company limited by guarantee)**
## **LIFESPRING CHURCH AND CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **20. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**2024**
**£**
Tangible fixed assets
668,664
Fixed asset investments
1
Current assets
178,670
Creditors due within one year
(6,300)
Creditors due in more than one year
(100,320)
740,715
**Analysis of net assets between funds - prior period**
Unrestricted
funds
2023
£
Tangible fixed assets
686,480
Fixed asset investments
1
Current assets
150,773
Creditors due within one year
(7,746)
Creditors due in more than one year
(101,604)
727,904|**Restricted**
**funds**
**2024**
**£**
-
-
37,175
-
-
37,175
Restricted
funds
2023
£
-
-
29,815
-
-
29,815|**Total**
**funds**
**2024**
**£**
**668,664**
**1**
**215,845**
**(6,300)**
**(100,320)**
**777,890**
Total
funds
2023
£
686,480
1
180,588
(7,746)
(101,604)
757,719|
|---|---|---|
Page 30
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **21. Pension commitments**
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,281 (2023 - £1,209). £285 (2023 - £269) was payable to the fund at the balance sheet date and is included in creditors.
## **22. Operating lease commitments**
At 31 March 2024 the company had commitments to make future minimum lease payments under noncancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years|**2024**
**£**
**13,384**
**18,890**
**32,274**|2023
£
15,600
28,170|
|---|---|---|
||||
|||43,770|
The following lease payments have been recognised as an expense in the statement of financial activities:
||**2024**|2023|
|---|---|---|
||**£**|£|
|Operating lease rentals|**16,078**|23,619|
||**-**|-|
## **23. Members' liability**
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.
## **24. Related party transactions**
During the year the charity received £6,593 (2023 - £6,000) for service charges for use of the freehold property from Oasis Cafe Ollerton Limited, the company's trading subsidiary.
There is an amount of £1,740 (2023 - £1,740) owing to the company at 31 March 2024 from the trading subsidiary.
There are no further related party transactions that require disclosure apart from those given above.
Page 31
## **LIFESPRING CHURCH AND CENTRE**
## **(a company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **25. Merger of charities**
The charity was created as a result of the merger between two related charities, Lifespring in the Dukeries and Lifespring Centre on 31 August 2020.
## **26. Principal subsidiaries**
The parent, and group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the group is not ineligible as set out in section 384 of the Companies Act 2006.
The following was a subsidiary undertaking of the company:
|**Name**||**Company**|**Registered office or principal**|**Principal activity**|
|---|---|---|---|---|
|||**number**|**place of business**||
|Oasis Cafe|Ollerton Limited|12503702|Sherwood Drive, New Ollerton,|Cafe|
||||Newark, Nottinghamshire, NG22||
||||9PP.||
|**Class of**|**Holding**||||
|**shares**|||||
|Ordinary|100%||||
The financial results of the subsidiary for the year were:
|**Name**|**Income**|**Expenditure**|**Profit/(Loss)**|**Net assets**|
|---|---|---|---|---|
||**£**|**£**|**/ Surplus/**|**£**|
||||**(Deficit) for**||
||||**the year**||
||||**£**||
|Oasis Cafe Ollerton Limited|**84,886**|**69,150**|**15,736**|**15,440**|
Page 32