Charity Registration Number: 1196491 Company Registration Number: 13072446
Life Church Seaford
Trustees' Report and Accounts
For the year ended
31 March 2024
Life Church Seaford Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees' report | 2 - 4 |
| Examiner's unqualified report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the accounts | 8 - 13 |
Life Church Seaford Legal and administrative information
| Trustees | J Clarke |
|---|---|
| S A Howitt | |
| P Jeffery | |
| M Archer | |
| M Tant | |
| A Meggs (appointed 29 January 2024) | |
| W Law (resigned 29 January 2024) | |
| T Da Costa (resigned 29 January 2024) | |
| Secretary | A Meggs (appointed 29 January 2024) |
| W Law (resigned 29 January 2024) | |
| Charity Number | 1196491 |
| Company Number | 13072446 |
| Registered Office | 12 Steyne Road |
| Seaford | |
| East Sussex | |
| BN25 1HT | |
| Reporting Accountants | Maiden Accountancy Services |
| 95 Seaside Road | |
| Eastbourne | |
| E Sussex | |
| BN21 3PL |
Page 1
Life Church Seaford Trustees' report
The trustees present their report and financial statements for the period ended 31 March 2024.
Governance Structure and Management
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 2018).
Trustees
The trustees, who are also the directors for the purpose of company law, who served during the year were:
J Clarke S A Howitt P Jeffery M Archer M Tant A Meggs (appointed 29 January 2024) W Law (resigned 29 January 2024) T Da Costa (resigned 29 January 2024)
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.
Objects of the charity
The advancement of the Christian faith in accordance with the Church's Statement of Faith. This is for the public benefit in Seaford and in other such parts of the United Kingdom or the world as the trustees of the charity may from time to time think fit.
Background to Life Church Seaford
Over twenty years ago a handful of people moved from Hastings to Eastbourne with the express purpose of starting a new church called King's. It started in a house and grew in size until it purchased a warehouse in 1999 for public church meetings. Continuing to grow it planted two further churches, one of which was Kings Church Seaford (LCS) and started meeting in a school from 2010 with the vision of becoming a totally independent church in the future. Life Church Seaford was formed as a Company Limited by Guarantee in December 2020 with a view to taking over all the activities of King's Church Seaford and which was eventually completed in 2022 when it also took ownership of the building and responsibility for the associated mortgage and formally separated from King's Church Eastbourne.
Structure and management
The spiritual leadership of LCS is with the paid full time Lead Elder who is supported by two unpaid Elders. These are supported by a part time Administrator and Property Caretaker. The Eldership is also supported by a team of voluntary Deacons who assist with various day to day activities of the church.
The Trustees/Directors manage the overall legal responsibilities and governance required by law and the Charity Commission.
Page 2
Life Church Seaford Trustees' report (continued)
Review of activities
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The Church meets twice on Sundays for public worship
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There is a monthly meeting for the whole church to gather in prayer
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Weekly small groups gather at various times for fellowship and can include, inter alia, worship, prayer and bible study.
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Children's work is undertaken primarily on a Sunday with the youth also meeting, at times, during the week
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- The youth also attend an annual "New Day" event held over a week during August in East Anglia where several thousand youth gather for worship, teaching and social interaction.
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The Church runs an annual "Alpha" course over several weeks where non-Christians can discuss and explore Christianity. Carol services are also held at Christmas time.
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We operate a debt counselling service designed by the award winning Christians Against Poverty, where trained counsellors advise the public on financial matters and how to budget.
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Once a year LCS organise a community open-air service (called Chyngfest) followed by family activities where the various church activities and services are promoted for the benefit of the general public.
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The Church allows the premises to be used during the week by various organisations including mother and toddler groups, counselling for individuals, activities for Downs Syndrome children and youth drama.
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During school term time we operate on a Tuesday and Wednesday a subsidised Community Café for the public to meetup and seek advice, if required.
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We help support and are part of the New Ground Churches organisation who operate around the South East of England and a number of overseas countries.
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LCS does not undertake any fundraising from the general public and all funds generated emanate from the church membership.
Reserves
The regular monthly costs of the running the charity are covered by the monthly income and the charity operates on the basis of keeping one and a half times the regular monthly cost base in cash general reserves in case of a sudden and unexpected fall in donations. This is kept under regular review and, as the charity grows, will be increased according to needs.
Investment policy
The Charity's liquid funds are held with its bankers, Metro Bank, with surplus daily funds held on a Deposit Account earning interest to maximise income. The cash balances held are below the Financial Services Compensation Scheme maximum of £85,000 and thus there is no requirement to protect these funds from failure of the Bank. However, this is kept in mind should either the limit change downwards or the cash funds increase above the £85,000 or a combination of the two factors.
Risks
The Trustees/Directors have examined the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate these. Policy statements are in place covering:
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Safeguarding (Based on the Thirtone:Eight guidelines)
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Investment
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Reserves
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Conflict of Interest
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Complaints
These are available to the public on request.
Page 3
Life Church Seaford Trustees' report (continued)
Trustees responsibilities
The trustees are responsible for preparing the accounts in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the trust and of its incoming resources and application of resources, including its net income and expenditure for the year.
In preparing these accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the trust will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the trust and which enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Risk factors
The trustees have examined the major business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
Asset cover for funds
Note 12 sets out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the charity’s obligations on a fund by fund basis.
On behalf of the board of trustees
S Howitt Trustee
Dated: 17.01.2025
Page 4
Life Church Seaford Examiner's unqualified report
Independent examiner’s report to the trustees
I report on the accounts of the company for the year ended 31 March 2024 set out on pages 6 to 16.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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(i) examine the accounts under section 145 of the Charities Act,
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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(iii) to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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(a) to keep accounting records in accordance with section 130 of the Charities Act; and
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(b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Steve Maiden, ACA 95 Seaside Road Eastbourne E Sussex, BN21 3PL
Dated:
Page 5
Life Church Seaford Statement of Financial Activities Including Income and Expenditure Account For the year ended 31 March 2024
| Notes Incoming resources Donations and gifts Activities for generating funds Investment income Total incoming resources 2 Resources expended Costs of generating funds Charitable activities Governance costs Total resources expended 3 Net income for the year |
Unrestricted Restricted funds funds 2024 £ 167,004 21,653 188,657 32,592 0 32,592 533 0 533 200,129 21,653 221,782 12,902 0 12,902 179,238 585 179,823 4,133 0 4,133 196,273 585 196,858 3,856 21,068 24,924 |
2023 £ 271,599 30,158 153 301,910 15,329 184,898 4,612 204,839 97,071 |
|---|---|---|
Page 6
Life Church Seaford Balance sheet As at 31 March 2024
| Notes Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 11 Net Assets Income funds General Fund 12 Restricted Fund - community reserves 12 |
2024 2024 2023 2023 £ £ £ £ 280,148 290,456 18,559 11,523 53,017 33,579 71,576 45,102 (19,829) (13,587) 51,747 31,515 331,895 321,971 (209,900) (224,900) 121,995 97,071 98,694 94,838 23,301 2,233 121,995 97,071 |
|---|---|
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities;
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i) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
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ii) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
The financial statements were approved by the board on
S Howitt Trustee
Page 7
Life Church Seaford Notes to the accounts For the year ended 31 March 2024
1 Accounting policies
1.1 Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
1.2 Incoming resources
Voluntary income and donations are accounted for as received by the Charity. Grants are recognised in full in the Statement of Financial Activities in the period in which they are receivable.
1.3 Resources expended
Resources expended are recognised in the period in which they are incurred and allocated to the particular cost centre to which they relate. Resources include irrecoverable VAT.
1.4 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided using the following rates and basis to reduce by annual instalments, the cost of the tangible assets over their estimated useful lives.
Freehold buildings 2% Straight line basis Fixtures, fittings and equipment 20% Straight line basis
1.5 Leasing and hire purchase commitments
Rentals payable under operating leases are charged against income on a straight line basis over the period of the lease.
1.6 Stock
Stocks of consumables and food are considered of no value and no valuation is included within the Financial Statements.
1.7 Pensions
The trust operates a defined contributions pension scheme. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme.
Page 8
Life Church Seaford Notes to the accounts For the year ended 31 March 2024
| 2 Incoming resources Donations and gifts Church offerings and gifts Gift Aid - tax refunds Sundry gifts Activities for generating funds Café Rental income Events Investment income Interest receivable Total incoming resources 3 Resources expended Costs of generating funds Café purchases Café wages Pension costs Events |
Unrestricted Restricted Total funds funds 2024 £ £ £ 140,729 0 140,729 25,130 3,660 28,790 1,145 17,993 19,138 167,004 21,653 188,657 7,954 0 7,954 20,081 0 20,081 4,557 0 4,557 32,592 0 32,592 533 0 533 533 0 533 200,129 21,653 221,782 Unrestricted Restricted Total funds funds 2024 £ £ £ 2,577 0 2,577 8,403 0 8,403 328 0 328 1,594 0 1,594 12,902 0 12,902 |
Total 2023 £ 180,145 27,232 64,222 271,599 8,661 16,741 4,756 30,158 153 153 301,910 Total 2023 £ 4,289 8,361 272 2,407 15,329 |
|---|---|---|
Page 9
Life Church Seaford Notes to the accounts For the year ended 31 March 2024
3 Resources expended (continued)
| Charitable activities Salaries Employers NI Pension costs Advertising, Marketing and Media Mortgage Interest Hospitality Equipment Cleaning Housekeeping General Expenses Building Maintenance Insurance Utilities Printing & Stationery IT Software and Consumables Repairs & Maintenance Training and conferences Licenses and Subscriptions Telephone & Internet Travel - National Travel - International Depreciation Sunday and General Meeting costs Church Giving - Tithes etc. Local Needs Newday Expense Discipleship courses Gifts Kids and Youth Work Band Baptistry Academy Training Course Eldership Allowance Newhaven Plant Turkey Trip |
Unrestricted Restricted Total funds funds 2024 £ £ £ 71,020 0 71,020 1,194 0 1,194 4,327 0 4,327 1,874 0 1,874 16,515 0 16,515 718 0 718 1,439 0 1,439 3,136 0 3,136 614 0 614 1,461 0 1,461 5,657 0 5,657 1,477 0 1,477 10,333 0 10,333 1,168 0 1,168 1,223 0 1,223 3,763 0 3,763 3,845 0 3,845 1,717 0 1,717 796 0 796 691 0 691 416 0 416 10,308 0 10,308 5,111 0 5,111 16,729 0 16,729 0 585 585 2,826 0 2,826 629 0 629 2,074 0 2,074 955 0 955 586 0 586 2,290 0 2,290 1,516 0 1,516 959 0 959 27 0 27 1,844 0 1,844 179,238 585 179,823 |
Total 2023 £ 75,063 1,711 4,099 4,170 9,209 875 2,726 2,702 0 4,607 12,659 1,333 10,459 1,258 1,803 3,807 4,053 1,021 794 1,178 2,779 10,308 4,510 0 0 4,562 0 18,710 502 0 0 0 0 0 0 184,898 |
|---|---|---|
Page 10
Life Church Seaford Notes to the accounts For the year ended 31 March 2024
3 Resources expended (continued)
| Governance costs Bank Fees Accountancy and Bookkeeping Legal and Professional Fees Total resources expended |
Unrestricted Restricted Total funds funds 2024 £ £ £ 240 0 240 3,502 0 3,502 391 0 391 4,133 0 4,133 196,273 585 196,858 |
Total 2023 £ 355 2,102 2,155 4,612 204,839 |
|---|---|---|
4 Trustees
There were no trustees' remuneration or other benefits for the year ended 31 March 2024
5 Employees
The average number of employees during the year was 6.
Employment costs
| Wages and salaries Social security costs Employers Pension |
2024 £ 79,423 1,194 4,655 85,272 |
2023 £ 83,424 1,711 4,371 89,506 |
|---|---|---|
There were no employees whose annual emoluments were £60,000 or more.
6 Pension costs
The trust is registered with the Government Workplace 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 £4,655. No contributions were payable to the fund at the year end.
7 Taxation
No corporation tax is payable on the results as Life Church Seaford is a registered charity.
Page 11
Life Church Seaford Notes to the accounts For the year ended 31 March 2024
8 Tangible fixed assets
| Cost As at 1 April Additions As at 31 March 2024 Depreciation As at 1 April Charge for year As at 31 March 2024 Net Book Value As at 31 March 2024 As at 1 April |
Fixtures, Freehold fittings and property equipment £ £ 276,916 23,847 0 0 276,916 23,847 5,538 4,769 5,539 4,769 11,077 9,538 265,839 14,309 271,378 19,078 |
Total £ 300,763 0 300,763 10,307 10,308 20,615 280,148 290,456 |
|---|---|---|
In the opinion of the trustees the freehold property is valued in excess of the book value shown.
9 Debtors
| Trade Debtors Other Debtors Creditors: amounts falling due within one year Mortgage Other Creditors |
2024 £ 0 18,559 18,559 2024 £ 12,450 7,379 19,829 |
2023 £ 2,527 8,996 11,523 2023 £ 12,450 1,137 13,587 |
|---|---|---|
10 Creditors: amounts falling due within one year
Page 12
Life Church Seaford Notes to the accounts For the year ended 31 March 2024
11 Creditors: amounts falling due after more than one year
| 2024 £ Mortgage 209,900 Loan maturity analysis Debt due in one year or less 12,450 In more than two years but not more than five years 49,800 In more than five years 160,100 222,350 12 Fund balances Balance at 1 April Incoming Resources Transfers 2023 resources expended £ £ £ £ Unrestricted funds General fund 94,838 200,129 (196,273) 0 Restricted funds Gift Days 2,233 21,653 (585) 0 |
2023 £ 224,900 12,450 49,800 175,100 237,350 Balance at 31 March 2024 £ 98,694 23,301 |
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Page 13