Registered Charity Number :. 1190785 tfNITED LIFE CHAPEL TRUSTEES, REPORT FINANCIAL STATEMENTS FOR THE YEAR END 31 March 2024 40 Armfield Street Arnfield Street Coventry 07Y21Y2791197
FOR THE YEAR ENDED 31 March 2024 TRUSTEES, REPORT............................................................................................................................................ INDEPENDENT EXèXMINER'S REPORT............................................................................................................ STATEMEKt OF FINANCIAL AcTIV[rS....................................................................................................II BALANCE SHEET..............................................................................................................................................12 NOTES TO THE FANCIAL STATEMEKfs..................................................................................................13
FOR THE YEAR ENDED 31 March 2024 Govei'nance The charity is governed by a constitution signed and approved by the trustees of the church. Ob"ectives aDd Activities The main activity of the organisation is to extend the gospel of the Lord Jesus Christ to communities, foster fellowship for spiritual edification, and support the emotional and physical needs of its members and tbe wider community. Our fellowships transcend the borders of the United Kingdom and reach the utterniost parts of the world. Review of Affails The organisation, through the distribution of tracts, group and individual virtual evangelism, bas continued to spread the gospel throughout various communities. Sunday church services and Friday prayer meetings are currently held both in person and online via Zoom and YouTube. This enables the gospel of Jesus Christ to reach people from diverse backgrounds. The online services have had a significant positive impact, helping to build a "church without walls." During this period, a weekly Wednesday youth service was introduced with the aim of engaging and empowering young people in the church and the community. We also held our annual Easter Family Camp, bringing together all our branches and affiliations in the UK. The charity SuccessllY acquired a new church building, The Full Assembly Church Auditorium, located at 40 Arn]field Street, Coventry. This property, now an asset of the church, was purchased tIough a mortgage with a monthly repayment of £ 1,000. Additionally, United Life Chapel secured funding from the National Lottery to support the conununity by providing food, clothing? shelter? games equipment, and entertainment. During the year, the church began the process of purchasing its current place of worship tIough a mortgage. This process is ongoing. The Men's and Women's Ministries marked their respective annual anniversaries by organising fonuns to discuss various topics related to men, women. youth, and family relationships. These programs attracted many participants and helped resolve numerous domestic issues.
FOR THE YEAR ENDED 31 March 2024 The church also organised marriage seminars to support couples within and outside the church community. Despite the challenges faced this year, by the grace of God, we were able to reach many people with the help of teC1oI0gy. As we move forward, we look forward to applying the experiences gained during this challenging time to enhance our in-person operations. Visioll foi. Next Yeai. United Life Chapel remains committed to its vision and mission. Our purpose continues to drive us as we pursue the following goals: Open more branches in the UK. Continue to positively impact the local community. Provide financial and material support to those in need. Establish a music school to engage youth in our community. Set up a coffee mornillg initiative to engage the elderly in our community. It is our hope and prayer that through dedication and hard work, the Lord will bless and help us achieve our purpose. The organisation remains committed to maintaining positive momentum in the coming years by offering excellent value for money and fostering strong, healthy relationships with our members and the wider community. Cbai Inde endent Examlneis & Accollntants SA Accountancy Practice continues to serve as the charity's accountants and independent examiners. They have expressed their willingness to continue ill this capacity. Ti'ustees, Res ollsibilities The Charities Act 1993 requires trustees to prepare fmancial statements for each fanCIal year that give a tnie and fair view of the charity's financial activities and fanCIal position at the end of the year.
FOR THE YEAR ENDED 31 March 2024 In preparing these fanCIal statements, the trustees are required to: Select suitable accounting policies and apply them consistently. Make judgments and estimates that are reasonable and prudent. Prepare the fanCIal statements on a goillg concern basis unless it is inappropriate to assume that the charity will continue in operation. The tnistees are responsible for keeping proper accounting records, which must accurately reflect the charity's fmancial position at any given time. These records must ensure compliance with the Charities Act 1993. This report has been prepared in accordance with the Statement of Reconunended Practice (SORP): Accounting and Reporting by Charities (issued March 2005) and the Charities Act 1993. The trustees declare that they have approved the Trustees, Report above.
FOR THE YEAR ENDED 31 March 2024 I report on the accounts of the Charity for the year ended 31 March 2024, which are set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages. Respective responsibilitr'es of trustees and examiner The trustees of the charity are responsible for the preparation of accounts: they consider that the audit requirement under section 43{2) of the Charities Act 1993 (the 1993 Act)), does not apply. It is my responsibi lity to: Examine the accounts under section 4313) of the 1993 Act. Follow the procedures laid down in the General Directions given by the Charity Commi55ioner5 made under section 43(7)(b) of the 1993 Act, and State whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINERS REPORT My examination was carried out in accordance with the General Direction given by the Charity Commissioner's. An examination included a review of the accounting records kept. It also includes consideration of any unusual items of disclosures in the accounts. And seeking examinations from you as trustee5 concerning any matters. The procedure5 undertaken do not provide all the evidence that would be required in an audit, and as a result I do not express an audit opinion on the view given by the accounts. INDEPENDENT EXAMINER'S STATEMENT In accordance with my examination, no matter has come to my attention: Which gives me a reasonable cause to believe that in any material respect the requirements:
FOR THE YEAR ENDED 31 March 2024 to keep accounting record in accordance with section 41 of the 1993 Act and to prepare which accord with the accounting records and to comply with the accounting requirements of the 1993 Act. have not been met. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. SA Accountancy SA Accountancy Practice Prnctr• Limitod Certified Chartered Accountants Equltable House 10 Woolwich New Road London SE18 6AB
FOR THE YEAR ENDED 31 March 2024 Reeonllnended eategorfies b? Notes Unrestrlcted funds Total Funds 2024 Total Funds 2023 Income and endow'ments from: Donations and Legacies 154.948 154.948 114,754 Other trading activities 2.887 2.887 4,702 Investments 65 Total 157,835 157,835 119,521 Expenditure on: Raisillg funds 22,188 22,188 101,437 Charitable activities 65,299 65,299 35,718 Other 2.070 2.070 25,778 Total 89,557 89,557 162,933 Net Ineomel(expendAture) 68278 68278 (43,412) Net movement in funds 68278 68J78 (43,412) Reconclllailon of fllnds: Total ft]nds brought foThvard 16,458 16,458 Total funds carried fornard 84,736 84,736 (43,412)
FOR THE YEAR ENDED 31 March 2024 Reeonllnended eategorfies b? Notes Unrestrlcted funds Total Funds 2024 Total Funds 2023 Fixed assets Tangible assets l L 8,278 118.278 11,996 Tot red assets 118278 IIS,278 11,996 Current assets Cash at bank and in hand io 87.098 87.098 (5,623) Total currellt assets 87,098 87,098 (5.623) Creditors.. amounts falling due within one year li 3,000 3,000 Net current assetsloiabilities) 84,098 84,098 (5,623) Total assets less currellt liabilities 202.376 202J76 6J73 Creditors". aruoutkts falling due after on¢ year 12 50.000 50,000 Tot net assets or Ilabllltles 152J76 152J76 6J73 Funds of the Ch&rlts' Unrestricted fuLids 13 84.736 84,736 16,458 Restricted illcome funds 13 Endowment funds 13 Total funds 84,736 84,736 16,458 The finaClaI statements ivere approved by the Board oll 18_Jan-2025 at]d siglled oll its behalf by: Michael Oiyusu Twst¢e Chair
FOR THE YEAR ENDED 31 March 2024 l Accounting Policies 1.1 AccountiDg Policies The principal accountillg policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows. 1.2 Basis of pi'epAI'atlon These accounts have been prepared under the bistorical cost Conventio as modified by the illclusion of charitable properties and fed asset investsnents and investmellt properties at valuation. These aecoullts bave been prepared ill accordance with "Accoulltiiig and Reportillg by Cjwities: Statee1]t of Reconllnellded Practice applicable to charities preparing their accounts in accordallce wlth the Financial Reporting Standard applicable ill the UK and Republic of Irelalld IFRS 102)" (effective l January 2019) - (Charities SORP (FRS 102)), the Fitwicial Reporting Standard applicable ill the UK and Republic of Ireland {FRS 102) and tbe Charities Act ?01 l. These accounts are presented An pounds sterling and rounded to the nearest pound. 1.3 Golng concei The Trustee5 hake prepared fanCIal projections. tai£illg illto eonsiderdtion the currellt economic conditions and have, at the tie of approNillg these accounts, a reasonable expectation that tbe cbarity has adequate resources to olltillue iu operational existence for the foreseeabEe future. Tbus they continue to adopt the going concern basis of accountiug in preparing the accounts. 1.4 Challge of afcoulltillg policy These accounts have been prepared to give a 'true and fair. view 1.5 Income fi'oll) donations oi. 'antS Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable aIid the amount can be measured reliably. For donations. this is usualLy on receipt. For allts. this is usually when formal o'er is made in ivritiiig. If a doiiation or grant coiitains tern ld conditions outside of the charity's control ivhich inust be met before the charity is entitled to the funds. or if the doiior specifies tliat the fiillds must be used in future time periods, then the income is deferred. 1.6 Legacies Legacies are included in the SOFA when receipt is probabKe, that is, when there has been grant of probate, the execuiors have established ibat diere are sufficient assets in the estafr alld any conditions attached to the legacy are either within the control of the charity or have been met. 1.7 Tax itclafims on donallons glfts Gift Aid receiN'able is included iti income ivhen there is a valid declaration from the donor. Ally Gift Aid amount recovered oll a doithtioll is considered to be part of tltht gift and is treated as all additiOlI to the sae fund as the itlitial dollation ullless the donor or the tern]s of the appeal have specified otherwise. io
FOR THE YEAR ENDED 31 March 2024 1.8 Donated goods Donated goods are measured at fair value lthe amount for wbicb the asset could be exchanged) unless itnpractical to do so. Gifts in kind for use by the clwity are included in the SOFA as incolne from donations when receivable. *) Donated goods for dL8trlbution to benelldariesThe cost of ally stock of goods donated for distribution to benefLCLaries is deemed to be the falr value of those gifts at the tiftne of their receipt and they are recognised oll receipt. In the reportillg period in ivbicb tbe stocks are distributed, they are recogllised as an expense at the carryillg amount of the stocks at distribution. b) Donated goods for rtsakDonated goods for resale are measured at fair value on initial recogttition, which is the expected prnceeds from sale less the expected Costs of sale: and recogllised in 'lncotne from other tradillg activities, with the corresponding stock recogillsed in tbe balallce sheet. Oll its sale the value of stock is charged agaillst '1come from other tradIg actlVLtie5' and the proceeds fron] sale are also recognised as 'llleome from other tradRng actLVlties'. c) Donated goods 5eThices capltalised as Ta]Ible ftxed asset5Goods donated for on-ooing use by a charity in carryit]g out its actIltIeS are recogllised a5 tangible fixed assets with the corresponding gakn recognised as incon]e fro dollatiolls within the SOFA. 1.9 Expenditure Expenditure És recognised ivheu a preseut legal OT constructive obligation exists at the balauce sheet date as a result of a past eveut. it is probable that a traDsfer of ecouou)ic bellefits will be Tequired to settle d]e obligation. and the aruouut cau be eStintell relÉably. It is iuclusive of VAT which cauuot be recovered. Direct costs are those costs which directly attribute to its activities. Wages aud 5aLaries are allocated to direct ¢05ts based ou an estillte of time spellt ou charitable artivities by staff ebe[s. Support costs include staff costs aud are those do not produce a direct output. Staff costs relate to specific activities and this is reflected in the allocation of payroll costs based on the perceutage of time spent. All costs, iucludiug governall¢e costs. are allocated b¢e¢ll the expenditure categories of tlie charity oll a basis designed to reflect the use of the resource. Costs relating to a particular acti4.ity are charged directly; others are apportioned on an appropriate basis. Support costs and ol-erheads have been calcuEated by aLLocatillg staff time to the level of involvement lli the various activities of the Charity. 1.10 TaDgible fixed assets Tangible fixed assets, such as laLid and buildings, plant, vehicles and equipment, are held to provide an on-going econoinic benefit to a charity through their colltribution, directly or illdirectly, to the provision of goods or services by the chaiity. Tangible fixed assets, other than freehold land, are stated at cost or valuation Less depreciation and any provision for impairment. Depreciation is proN'ided at rates calculated to ivrite off the cost or valuation of fixed assets, less their estin]ated residual value, over their expected useful lives on the followillg basis: Name Rate (96) Year Plant & Machinery Fixtures & Fittings Land & Buildllig Method 200/0 SL 20% SL NIA li
FOR THE YEAR ENDED 31 March 2024 Note: Provide an optioll to illcrease roivs as per user reqUiellt. We bave to provide tbe above tabular forni the accountillg policy screen to enter details nlUallY and upon saving the data. it should appear in the report wiibout headings. 2 Income from Donations and Legacies Unrestricted llds Total funds 2024 Total fuuds 2023 Anals"sis Donation alld gifts Gelleral grants provided by Governmentlother charities Gift Aid Legacies Other Other Donations 79,279 79,279 54,385 10.490 10.490 38,859 450 1.423 24.447 154,948 38,859 450 L,423 24,447 154,948 32,237 15,072 13,060 114,754 3 Income from Other Trading Activities Unrestricted funds Total funds 2024 Total fuuds 2023 Analvsis Evellts 2,887 2.887 2.887 2.887 4,702 4.702 4 Income from Investments Totfdl funds 2024 Total funds 2023 Anal}sls luterest illcom 65 65 12
FOR THE YEAR ENDED 31 March 2024 5 Expenditure on Raising Funds Total funds 2024 Total funds 2023 Analysls InCU¢d seeking donations Intellectual property licencing costs Rent collection, pmpety repairs alld maintenance charges 19,297 727 2,164 22,188 94.360 3.505 3,572 101,437 6 Expenditure on Charitable Activities Total funds 2024 Total tsnds 2023 AnYdl)sis Chariry nllageMent & admilltarti0 Charity runllillg cost Cost of services Donations Legauprofessional lees Staff costs Support Costs 44.640 1.145 5.522 2.610 3.146 6.180 2.056 65,299 10,503 loo 121 21,102 3,254 638 35,718 7 Support Costs Total funds 2024 Total ndS 2023 Anal)sls Governance Costs Accouutants fees 2,056 2,056 638 638 13
FOR THE YEAR ENDED 31 March 2024 8 Other Expenditure Unrestrfieted funds Total funds 2024 Total funds 2023 Analysls Donations Othei Expenditure Depreciation Charge for the Year- Plant & Machinery Depreciation Charge for the Year- FiXreS & Fittings 5.040 20.738 1.590 1,590 480 480 2.070 2,070 25,778 14
FOR THE YEAR ENDED 31 March 2024 9 Tangible Fixed Assets 9.1 Cost or VAluation Freehold Land & Blllldlngs Plant & MY4chinery Fixtsres & Fittings At 01 April 2023 Additions 3.598 2,400 iio,000 4,350 Disposals Revaluations Translers At 31 March 2024 iio.000 7.948 2.400 9.2 Amorti$ation and impairmeDts Freehold Land & Bnlldings Plant & Machinery Fixtures & Fittings At 01 April 2023 Additions 1,590 480 Disposals Revaluations Translers At 31 March 2024 1,590 480 9.3 Net book value Freehold Land & BlIdIngS Plant & Mydchinery Fixtsres & Fittings At 01 April 2023 At 31 March 2024 3,598 2.4(M) iio.000 6,358 1.920 15
FOR THE YEAR ENDED 31 March 2024 10 Cash at bank and in hand Total fllnds 2024 Total fimds 2023 Barclays Ballk Cash at bank and on hand 87,098 15,623) (5.623) 87.098 11 Creditors: Amounts falling due within one year Total fvuds 2024 Total DdS 2023 Other creditors 3,000 3,000 12 Creditors: Amounts fallRng due after one year Total funds 2024 Total lld$ 2023 Bat& loans and overdrafts 50.000 50.000 16
FOR THE YEAR ENDED 31 March 2024 13 Charity funds 13.1 Details of mateiial fullds held and movemellts duiiDg the CURREYf I"epoitillg peiiod Fund balances brought forTvard Fnnd balances carried forsY&rd Gains and losses Fund names Income EendIture Transfers I"nrestricted Dds General Fund 5,486 5,486 Total 5,486 5,486 13.2 Details of mateiial fullds held and movements dui'iDg the PREVIOUS I'epoiting peiiod Fund balances brought forTward Fund baR8llces carried foTh8rd Income Expenditure Gains 2nd losses Fund names Trrdnsfers L'nrestricted Dds General Fund 86,953 (81,466) 5,486 General Fund 86.953 (81,466) 5,486 General Fund 86,953 (81,466) 5,486 Total ?60.8)9 1244.398) 13.3 Transfers between funds This Year Amount Betsveen unrestricted and restricted funds Between endOllellt and restricted fijnds Between elldothThent alld unrestricted fuES 17
FOR THE YEAR ENDED 31 March 2024 L Ydst Year Amount Bemeell ullrestricted and restricted fi]nds Bet¥Tr-eell endo7ellt aud restricted fiillds Between elldoi&illellt alld ullrestricted funds 18