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2025-03-31-accounts

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 2025

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 2025

Trustees C M T M Northey, Treasurer
E Phillips, Chair
B Whitworrh
C Maddison
D A Simpson
S Prothero
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 2025

The trustees present their annual report together with the financial statements of the company for the year from 1 April 2024 to 31 March 2025. 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

c. Activities undertaken to achieve objectives

Page 2

LIFESPRING CHURCH AND CENTRE

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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:-

Achievements and performance

a. Main achievements of the company

2024 - 2025, 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.

Page 3

LIFESPRING CHURCH AND CENTRE

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

2. Christmas

In December 2024 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.

3. 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.

4. Gas & Electric Payments

We continued to support several families with Gas and Electric grants donated by our Turnaround Charity shops.

5. Charity Shops (Turnaround)

Our Ollerton Charity shop provides donated quality goods at a very affordable price, especially for families on low incomes.

The Trustees received regular reports concerning the performance of the shop and were very encouraged.

6. 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.

7. 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 1 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 70s. 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.

8. Training

We continued to work with other organisations to deliver quality training to members of our community. These courses included:

Page 4

LIFESPRING CHURCH AND CENTRE

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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. No Changes were made in the members of the Church Council.

  6. Agreed to renew the lease for the Ollerton Charity shop.

  7. On the 1st May 2024 Warsop Town Hall was Asset transferred to Lifespring Church and Centre.

  8. Agreed various donations to good causes from the profits of the Charity shops.

  9. 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 2025

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.

Page 6

LIFESPRING CHURCH AND CENTRE

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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 recruiting new trustees as part of the Church Council and developing their roles.

We will sell the building in Church Warsop and potentially the derelict building next door.

I am so grateful to God and to the many, many people that I am able to work alongside, both within the organisation and in the community. Lifespring wouldn’t be the thriving place that it is without the help and support of so many volunteers. Thank you doesn’t feel enough to describe the gratitude that I feel. Thank you all for being so amazing.

Every blessing in Christ,

Approved by order of the members of the board of trustees on 17 September 2025 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 2025

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 2025.

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 FCA CTA

Dated: 22 September 2025

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 2025

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 income
Transfers between funds
19
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
67,188
4,594
114,543
1,772
188,097
19,105
165,755
184,860
3,237
3,354
6,591
740,715
6,591
747,306		 Restricted
funds
2025
£
-
25,928
-
-
25,928
-
15,993
15,993
9,935
(3,354)
6,581
37,175
6,581
43,756		 Total
funds
2025
£
67,188
30,522
114,543
1,772
214,025
19,105
181,748
200,853
13,172
-
13,172
777,890
13,172
791,062		 Total
funds
2024
£
74,206
28,261
98,629
1,262
202,358
23,631
158,556
182,187
20,171
-
20,171
757,719
20,171
777,890

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 2025

Note
Fixed assets
Tangible assets
12
Investments
13
Current assets
Stocks
14
Debtors
15
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
16
Net current assets
Total assets less current liabilities
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
28,180
212,015
242,195
(6,548)		 2025
£
653,701
1
653,702
235,647
889,349
(98,287)
791,062
43,756
747,306
791,062		 2,000
6,652
207,193
215,845
(6,300)		 2024
£
668,664
1
668,665
209,545
878,210
(100,320)
777,890
37,175
740,715
777,890

Page 10

LIFESPRING CHURCH AND CENTRE

(a company limited by guarantee) REGISTERED NUMBER: 12323109

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025

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 17 September 2025 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 2025

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 the wider geopolitical environment and the cost of living. 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 2025

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:

Page 13

LIFESPRING CHURCH AND CENTRE

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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 2025

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 2025

3. Income from donations and legacies

Unrestricted
funds
2025
£
Donations
Gift Aid from Oasis Cafe
16,033
Offerings
41,430
Ghana donations
120
Gift Aid
7,078
Special offerings
527
Grants
Warsop Town Hall
2,000
67,188
Total 2024
60,706		 Restricted
funds
2025
£
-
-
-
-
-
-
-
13,500		 Total
funds
2025
£
16,033
41,430
120
7,078
527
2,000
67,188
74,206		 Total
funds
2024
£
13,541
41,211
120
5,734
100
13,500
74,206

4. Income from charitable activities

Unrestricted
funds
2025
£
CAR income
-
Church activities
686
Church events
310
Other church income
982
901
Sundry income
1,715
4,594
Total 2024
3,929		 Restricted
funds
2025
£
25,928
-
-
-
-
-
25,928
24,332		 Total
funds
2025
£
25,928
686
310
982
901
1,715
30,522
28,261		 Total
funds
2024
£
24,332
544
-
797
1,052
1,536
28,261

Page 16

(a company limited by guarantee)

LIFESPRING CHURCH AND CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

5. Income from other trading activities

Income from fundraising events

Unrestricted
funds
2025
£
Turnaround charity shops
47,754
Room hire and associated income
54,389
Sales of product income
-
Fundraising
12,400
114,543
Total 2024
98,629
Investment income
Unrestricted
funds
2025
£
Investment income - local cash
1,772
Total 2024
1,262		 Total
funds
2025
£
47,754
54,389
-
12,400
114,543
98,629
Total
funds
2025
£
1,772
1,262		 Total
funds
2024
£
61,779
34,371
79
2,400
98,629
Total
funds
2024
£
1,262

6. Investment income

Page 17

LIFESPRING CHURCH AND CENTRE

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. Expenditure on raising funds

Turnaround shops expenditure

Unrestricted
funds
2025
£
Premises and maintenance costs
16,854
Operational costs
1,856
Administration costs
395
19,105
Total 2024
23,631		 Total
funds
2025
£
16,854
1,856
395
19,105
23,631		 Total
funds
2024
£
18,335
5,031
265
23,631

Page 18

LIFESPRING CHURCH AND CENTRE

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8. Analysis of charitable expenditure

Direct costs
Total 2024		 Activities
undertaken
directly
2025
£
168,848
147,565		 Support
costs
2025
£
12,900
10,991		 Total
funds
2025
£
181,748
158,556		 Total
funds
2024
£
158,556

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
Warsop Town Hall expenses		 Total
funds
2025
£
51,929
18,462
16,088
41,110
16,671
5,861
3,700
6,884
752
3,855
920
2,616
168,848		 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

Page 19

(a company limited by guarantee)

LIFESPRING CHURCH AND CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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
2025
£
1,650
2,593
8,327
330
12,900
2025
£
1,375
300		 Total
funds
2024
£
1,650
91
8,742
508
10,991
2024
£
1,300
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 2025

10. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2025
£
50,462
-
1,467
51,929		 2024
£
44,292
3,504
1,281
49,077

The average number of persons employed by the company during the year was as follows:

2025 2024
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:

2025 2024
£ £
M G Phillips Remuneration - 895
E Phillips Remuneration 37,421 34,357
Pension contributions paid 1,123 1,031
C M T M Northey Remuneration 11,483 8,352
Pension contributions paid 345 250

During the year ended 31 March 2025, no trustee expenses have been incurred (2024 - £NIL).

Page 21

LIFESPRING CHURCH AND CENTRE

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

12. Tangible fixed assets

Cost or valuation
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
property
£
713,934
-
713,934
51,166
14,277
65,443
648,491
662,768		 Fixtures and
fittings
£
17,807
3,499
21,306
11,911
4,185
16,096
5,210
5,896		 Total
£
731,741
3,499
735,240
63,077
18,462
81,539
653,701
668,664

The total potential liability owed to the secured creditors at 31 March 2025 amounted to £100,126 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 2025
13.
Fixed asset investments
Cost or valuation
Additions
At 31 March 2025
Net book value
At 31 March 2025
14.
Stocks
Finished goods and goods for resale
15.
Debtors
Due within one year
Trade debtors
Concessionary loans
Other debtors
Tax recoverable		 2025
£
2,000
2025
£
6,645
17,773
1,619
2,143
28,180		 Investments
in
subsidiary
companies
£
1
1
1
2024
£
2,000
2024
£
632
1,740
-
4,280
6,652

Page 23

(a company limited by guarantee)

LIFESPRING CHURCH AND CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

16. Creditors: amounts falling due within one year

Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2025
£
1,839
1,054
-
327
3,328
6,548		 2024
£
1,645
117
869
285
3,384
6,300

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 £100,126 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 2025

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		 2025
£
98,287
2025
£
1,839
5,517
90,931		 2024
£
100,320
2024
£
1,645
4,935
93,740

The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is:

2025 2024
£ £
Payable or repayable by instalments 90,931 93,740

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 2025

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		 2025
£
220,229
2025
£
104,508		 2024
£
207,825
2024
£
105,466

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 2025

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
Warsop Town Hall
Total of funds		 Balance at 1
April 2024
£
560,804
419
19,472
1,243
581,938
158,777
740,715
Balance at 1
April 2024
£
23,952
3,584
9,639
37,175
777,890		 Income
£
-
-
-
-
-
188,097
188,097
Income
£
25,928
-
-
25,928
214,025		 Expenditure
£
-
-
-
-
-
(184,860)
(184,860)
Expenditure
£
(15,993)
-
-
(15,993)
(200,853)		 Transfers
in/out
£
(12,440)
(382)
(9,818)
(833)
(23,473)
26,827
3,354
Transfers
in/out
£
-
(3,354)
-
(3,354)
-		 Balance at
31 March
2025
£
548,364
37
9,654
410
558,465
188,841
747,306
Balance at
31 March
2025
£
33,887
230
9,639
43,756
791,062

Page 27

LIFESPRING CHURCH AND CENTRE

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Statement of funds (continued)

Statement of funds - prior 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
Town Hall project
Total of funds		 Balance at
1 April 2023
£
573,662
196
9,597
2,707
586,162
141,742
727,904
17,963
3,584
8,268
29,815
757,719		 Income
£
-
-
-
-
-
164,526
164,526
24,332
-
13,500
37,832
202,358		 Expenditure
£
-
-
-
-
-
(151,715)
(151,715)
(18,343)
-
(12,129)
(30,472)
(182,187)		 Transfers
in/out
£
(12,858)
223
9,875
(1,464)
(4,224)
4,224
-
-
-
-
-
-		 Balance at
31 March
2024
£
560,804
419
19,472
1,243
581,938
158,777
740,715
23,952
3,584
9,639
37,175
777,890

Page 28

LIFESPRING CHURCH AND CENTRE

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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 2025

20. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
653,701
Fixed asset investments
1
Current assets
198,439
Creditors due within one year
(6,548)
Creditors due in more than one year
(98,287)
747,306
Analysis of net assets between funds - prior year
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		 Restricted
funds
2025
£
-
-
43,756
-
-
43,756
Restricted
funds
2024
£
-
-
37,175
-
-
37,175		 Total
funds
2025
£
653,701
1
242,195
(6,548)
(98,287)
791,062
Total
funds
2024
£
668,664
1
215,845
(6,300)
(100,320)
777,890

Page 30

LIFESPRING CHURCH AND CENTRE

(a company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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 £1,467 (2024 - £1,281). £327 (2024 - £284) was payable to the fund at the balance sheet date and is included in creditors.

22. Operating lease commitments

At 31 March 2025 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		 2025
£
13,396
1,533
14,929		 2024
£
13,384
18,890
32,274

The following lease payments have been recognised as an expense in the statement of financial activities:

2025 2024
£ £
Operating lease rentals 13,474 16,078
- -

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 £7,200 (2024 - £6,593) for service charges for use of the freehold property from Oasis Cafe Ollerton Limited, the company's trading subsidiary.

There is an amount of £1,7773 (2024 - £1,740) owing to the company at 31 March 2025 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 2025

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. Post balance sheet events

The Bethel Church in Warsop was sold in May 2025 and the charity has also accepted an offer for the sale of land adjacent to the town hall in Warsop.

27. 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 78,774 76,007 2,767 2,174

Page 32