LICC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
REPORT AND ACCOUNTS
st
FOR THE YEAR ENDED 31 MARCH 2024
COMPANY NO: 01680265
REGISTERED CHARITY NO: 286102

CONTENTS
Page
Annual Report
1-12
Independent Auditor5, Report
13-16
Statement of Financial Activlties
17
Balance Sheet
18
Statement of Cash Flows
19
Notes to the Accounts
20-32

UCC UMITED
THE LONDON INSTITUTE FOR CONTEMPORARY CHRISTIANITY
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 31" MARCH 2024
The trustees present thelr annual report and flnanclal review for the year ended 31st March 2024. The
accounts comply with statutory requirements and with the requirements of the charity's governlng
document.
Structurefv governance, and management
Statusi Kovernlng document. and constltutlon
LICC Llmlted is a registered char￿V (number 2861021. The legal status of the charity is a company limited by
guarantee, without a share capital. Its company number is 01680265. The liability of member5 of the
ompany Is Ilmlted to £1 each.
The charltyls also known as The London Instltute forcontemporary Chrlstlanw ILICCI.
The 8ovemlng documents of the company are its memorandum and artides of association. LICC is
adminlstered bya Board ofTrusteeswho are the membersènddirectors ofthe company.The Board meets
regularly in the mannerprescribed in the articles of association. The Board rotation policy requirestW5tees
to retire after foLrr years after which they are eligible for re-election for a further four years. The Board of
Trustees is authorised to appoint new members to Its number. There is an Inductlon programme for new
members, whlch Includes meetingthe senior managementteam,training on good corporate gOVernaTh￿ and
ensuring a clear understanding of their roles and responsibilities.
The trustees do not receive remuneration or derwe any other personal benefit from the activities of the
Charity.
Board of Trustees
The Board of Trustees listed below have continued to seNefrom IApril 2023 to the date of thls report unkss
Stated otherwise:
Alasdair Christopher Gillies
Alexandra Uoyd Davies
Jessica Lacey
John Ibbett.
Julia Sloan
Keith Wllson
Olivia Harris
Paul Valler
Slmon Abrams
Vlctorla Lawren
Vanessa Wilson
ITrea5urer, appointed 26 September 2023
(Appointed 5 December 20231
(Treasurer, resigned 26 September 20231
{Chairl
Member of the Finan￿ and Operations Committee durSng the year
Memberof the People Committee during the year
LICC Umlted
Page I

LICC UMITED
THE LONDON INSTITUTE FOR CONTEMPORARY CHRISTIANITY
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 31" MARCH 2024
Organisation and management
The Board of Trustees is responsible forthe 5trategicdirection of the charityand agreesthe annual objett￿eS
and budgetwlth the senior management, whoare responslble fortheday-t&daymanagement of the charity.
The Board usually meets formally four times a year, includlng a 24 hour long retreat. An update on
achievement against objectwes Is provided at each meeting of the trustees. A 'related parties, register Is
maintained and the Board has adopted a conflicts of Interests policy which is referred to at every Board
meeting. The Board has two committees which usually also meet four times a year and review 5pecifl
aspects of the charlty's policy and operations In more detail: these are the Flnance and Operations
Committee and the People Committee, both are advisoryand Make recommendationstothe Board. Other
committees may be formed as and when required.
Senior management
The senior management personnel of LICC are a150 those normally in attendance at Board meetings.. Paul
Woolley ICEO}, Davld Leeds ICOOI. Erln Winfield (up to 3 October20231, and Rowena 8iddlecombe (Direthr
of Finance and Fundralsingl. These named individuals formed the senior management team during the
reporting period, but due to changes in the scope of some roles, and for ease of referen￿, theircurrentjob
titles have been used.
LICC is led by an Executive Team and a Strategic Leadership Team. The Executive Team is responslble for
everyday operational issues such as f inan￿, HR, logistics, and administration, and the Strateglc Leadersh
Team is responsible for the design and delwery of organisational strategy.
Reglstered offlce and prlntlpal address
St. Peterfs Church, Vere Street, London, WIG ODQ
Company secretary
Rowena Blddletombe
Bankers
HSBC Plc, 90 Bakerstreet, London, WIU 6AX
CAF Bank Ltd. 25 Kings Hlll Ave. Kings Hill, West Malling, Kent, ME19 4JQ
Audltors
Knox Cropper LLP, 65 Leadenhall Street, London EC3A 2AD
Legal advisor
Keelys Solicitors, 28 Dam Street, Llchfield, Staffordshire, WS13 6AA
Support of volunteers
LICC is extremely grateful for the support we receive f rom a number of volunteers, including trustees,
wlthout whose help we would not be able to operate.
UCC Limited
Page 2

LICC UMITED
ThE LONDON INSTITUTE FOR CONTEMPORARY CHRISTIANITY
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 31" MARCH 2024
Purpose and objectives
LICC was established for:
lal the advancement of the Chrlstian religlon, In partlcular by Instructlon In the Christlan faith, life, and
mission and thelr appllcation to lrfe In the contemporary world,. and
Ibl the advancement of the education of adults and young people In the fields of sociology* social
sciences, polltlcs and economics with particular reference to the impact of the Christian faith on such
matters,
LICC is committed to the fundamental truth5 of historic, biblical Christianity. Trustees are required to signify
their acceptance of LICCS doctrinal basis, which is based on these truths.
In furtherance of its aims, and working with individuals, churche5 and denomlnatlons, LICC undertakes
speaking engagements, runs courses, workshops and events, offers consultancy, produces and distributes
books, podcasts, vldeos and other resources, conducts research, and communlcates through its website.
social media, email and postal malllngs and magazines, seeking to be a thought leader and influencer.
Public benefit
The Board of Trustees has considered the Charlty Commission's guidan￿ on publlc benefit and, in particular,
the speciflc guldance on the advancement of religion, and believe that LICC fulfi15 the requirement5 in a
number of ways.
LICC'S primary beneficiarie5 are those who engage wlth our content and tralnlng, but our impact extends
intentlonally beyond our direct beneficiaries to the wider public. In our ￿cent impact survey, 84% of
respondent5 said LICC has helped them become more fruirful on their frontline. Our first Impact Report was
published in September 2023 and hlghlighted examples of the difference LICC makes to society through the
lives of ordinary Christlans.
Christlans are called to seNe others, whether they are Christians or not. and work for the wellbeSng of the
communities and organisations of which theyare a part. A key framework we use to help Christians be fruitfijl
In their everyday contexts is the 6Ms:
Modelllng godly chararter: Being bearers of the fruit of the Holy Spirit.. love, joy, peace, patience,
kindness, goodness, faithfulness, gentleness. and self-control. Displaying self-control by keeping a
cool head when a colleague Is provoklng you,. promoting peace by mediatlng an argument between
two buslnesses,. bringing joy by encouraging those around you.
Makin88ood work: Everythlng we do Is to and for theglory ofGod. We can do everything-the fun,
the interesting, the big, the small, the mundane, and the just plain borin8- for the love of God and
the servlce of others.
LICC Limited
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LICC LIMITED
THE LONDON INSTITUTE FOR CONTEMPORARY CHRISTIANITY
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Ministering grace and love.. This could be as simple as a timely cup of coffee, or tsking ten minutes
out to talk stuff over with someone who is struggling.
Moulding culture.. Thi5 mean5 making small changes that help 'the way we do thin8s' become more
Christlike.
Belng a Mouthplece fortruth and Justlce.. Big or small, bein8 a mouthplece for truth and Justice looks
like standing up- often at personal cost-to promote good, fair, and just practices.
Belng a Messenger of the gospel: This means having an intentionality, a desire to talk about Jesus
with those around us, In a way that brings life and is good news.
Activitie5 and achievements during the year
LICC 2022-27 Strategy
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In 2023-24, the second year of Implementing our five-year strategy, the focus has been on the development
of new content, distribution channels, and strateglc partnerships to scale our work and extend our Impact
and effectiveness.
We have attended to our organisational culture, value5, and the growth of our supporter base. The results
of staff surveys indicate continued high, and increasing, levels of staff engagement and an excellent
organisational culture.
Our organisational value5 are wisdom, authenticity, creativity, generosity, and excellence. We asplre to
embody and exhibit these values in all we do, as we join in God's mission to cultivate whole-life disciples gf
Jesus.
We have continued to work with Eido research to develop and Improve our impact and effectiveness
framework, and we were encouraged by over 600 respondents to the latest survey.
LICC Limited
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UCC LIMITED
THE LONDON INSTITUTE FOR CONTEMPORARY CHRISTIANITY
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 31" MARCH 2024
Key emphases In 2023-2024
In addltion to developlng new content, including Vltal Signs. we reached new audiences through events
such as those wlth Tom Holland and Justin Brierleyi and Pete Greig, and through strate8lc partnerships
such as those with the Everything Conference and the Redeemed Christlan Church of God IRCCGI. The
Vision tour also continued to engage new and existing audiences. In the digltal space, we increased our
offering and engagement on our own platforms, including Instagram and YouTube, and third-party
platforms, such as RightNow Medla, Youversion and Premier. We launched two podcast series IThank God
it's Monday and The Whole Life Podca5t} which secured audlence figures in the top IO% of all podcasts.
The vision and strategy for ChristSans at work were reviewed and refreshed under the leadership of David
Walker, and, internally, we reviewed our malling and events strategy to increase Impact and effectiveness.
We also secured new income streams, which we aim to grow in the coming year.
LICC Strategic Outcomes Framework
Overall, we have seen good prog￿$5 towards our ambitiOUS targets across our strategic priorities. Some key
highlight5 from our impact suNey are below.
Strategic prlorlty I: Frontllnes. Insplre Chrlstlans to see how thelr Èveryday frontllnes matter to
God, and equip them for frultfulness there
OUTCOME5
Reported LICC Impact
Chrlstian respondents demonstrate a clear
vlslon for whole-llfe dlsclpleship on thelr
frontllne
84% say LICC has Increased thelr motlvatlon to Ilve out their faith
on their frohtllne In the past 12 months
Chrlstlan respondents demonstrate a hlgh level
of fruitfulnLWS on their frontline
73% say LICC has helped them become more frulttul In the past
12 months
Examples of slgnlficant activltles In this space include:
Embarking on a si8nificant partnershlp with RlghtNow Medla, a vldeo streaming and content
producer to reath new churches in the UK and across the world. 'Doe5 God Care About My Work,,
the first series produced in partnership with RightNow MedSa, has been completed and due to
launch in the coming weeks. Thls unpacks the various ways In whlch our work Join5 in with the
mi551on of God.
Relaunching LICC'S Instagram channel in September 2023, with 60-second reels from Christians
living fruitfully and faithfully wlth Jesus in their everyday life- from footballers to singer-
50ngwriters, dietlcians. nursery nurses and recruitment consultants. We've since seen an increase
In engagement with 128% more accounts reached and 214% more accounts engaged.
LICC Llmlted
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LICC UMITED
THE LONDON INSTITUTE FOR CONTEMPORARY CHRISTIANITY
REPORT OF THE BOARD OF TRUSTEES
ST
FOR THE YEAR ENDED 31 MARCH 2024
Releasing the first slx-episode season of Mark Greene's podcast Thank God It's Monday featuring
conversations with Christians in entry-level and Senior roles acro55 different sectors, exploring how
they put their falth Into action at work. The Series insplre5 listeners to spot how they're making a
difference through their own job and has built an audience of over 600 engaged listeners since
launchlng, with an estimated 50% of listeners aged 18-35.
Strateglc prforlty 2: Church. Embed who1￿life dlsclplemaking In the Ilfe of the gathered church
OUTCOMES
Reported LICC Impart
Church leader respondents demonstrate a clear
vlslon for whole-life dlsclplemaklng in their
church
68% say they have increased the Importance they place on
whole-llfe disclplemaklng In the last 12 months thanks to LICC
Church leader respondents demonstrate clear
behavlours of bulldlng whole-1Sfe dlsdples wtthin
thelr church
66% Say they have done more to build whole-life di5ciple5 in
their chuich In the last 12 months thanks to LICC
Exarnple5 of SiBniflcant activities In thls space include:
Vital Signs, a new resource to help leaders embed whole-life disciplemaking into the Ilfe of their
churches is complete and ready to launch In May. The project Includes a book. an online diagnostic
tool for leaders and their teams. 'next steps, videos, and further online content.
Strategic partnershlp with the Redeemed Christlan Church of God IRCCGI. In April 2024, we took
the LICC stand to their Europe Continent Ordained Ministers, Conference which Eathers over 2,500
RCCG leaders for an annual splritual retreat. Ken Benjamin spoke at the conference. and we are
exploring how LICC can work more strategically with RCCG to develop and support their faith and
work stream.
The vislon tour. In addition to the evening vision events, the ongoing tour of cltie5 acr05S the UK has
included church leader breakfasts and lunches, and preaching engagements, enabling us to engage
with new audiences.
Strategic prlorlty 3: Culture. Help individuals understand culturei grapple wlth complex Issues,
and Ilve wisely in our tlme
OUTCOMES
Reported LICC Impact
Chrlstian respondents demonstrate clear confidence
In engagin8 Wlth and responding wlsely to Complex
155ues In contemporary culture
73% say LICC has Increased thelr confidence In th15
area in the past 12 n)onths
LICC Llmlted
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UCC UMITED
THE LONDON INSTITUTE FOR CONTEMPORARY CHRISTIANITY
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 31" MARCH 2024
Examples of Significant artlvltles In thls space include:
The Whole Life Podcast. Connectlng the Chrlstlan story with all of Ilfe. Paul Woolley and Grace
Fieldin8 have been joined by well-known experts over 12 eplsodes to discuss tOPiC5 such as Al,
politics, comedy, the imagination, and beauty and Justlce. The Whole Life Podcast is already in the
top IO% of podcasts on iTunes. In March, we hosted a live podcast retordlng at Westmlnster Chapel
with author Justin Brierley and hlstorlan Tom Holland. Over 500 people came to hear how people
are Elvlng belief in God a second look as we explored Justin's book, The Surprising Rebirth of Belief
in God.
Relmaglne. In January 2024. we ￿Corded a 13-part series of 30-minute programme5 which have
been broadcast twice by TWR, exploring a process of better understandin& engaging, and changing
the culture of our everyday places where we're called to follow Jesus. We are in the proce55 of
developing our Reimagine course as a 5-session small group resource to help participants see God at
work In all of their lives - and how they might join In what he's already dolng around them. Each
sesslon has a video, reflectlon on Scripture. and teaches people a splrltual practice to form and
SU5taln them as a disciple In their particular time and place. The resource is currently In the plloting
stage, and we hope to release it In Q4 2024.
Strate8lc prlorlty 4.. Blble. Grow confidence In the Blble, Its whole-llfe relevance, and It5 practlcal
application
OUTCOMES
Reported LICC Impact
Chrlstian respondents demonstrate a clear confldence
In the Blble, its whole-life relevance, and Its practlcal
application
83% say LICC has helped them see the relevance of the
Blble to their life and practically apply It In the past 12
months
Examples of significant actlvitle5 In this space Include:
Devotlonal Journeys. Our Advent and Lent devotlonal Journeys IThe Whole Christmos Story and On
Purposel helped a total of over 30,000 people read the Bible with a whole-life lens and respond to
God's Invitation to walk with him in the everyday moments of each season.
Extraordlnary Iformerly known a5 Biblical Frontlinersl. These films exploring Bible characters who
had a particular'frontline impact,, presented by Mark Greene, Tim Yearsley, and Ennette Lainchbury,
were alred on prime-time slots on GodTV and are available on demand. At the end of April, we
released the episodes on our own channels, alongside a discussion guide for those wanting to dive
deeper into each video.
LICC Llmlted
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UCC LIMITED
THE LONDON INSTITUTE FOR CONTEMPORARY CHRISTIANITY
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024
Objectlves for 2024-25
Our third year of strategy implementation will be key in Seeing an acceleration towards the scaling of our
work and achievement of our targets..
l. Increasln8 our ft)cus on our strategic 18-35-year-old mission audience and the content required to
engage them le.g. including the launch of 'Un5cripted.' honest questions aboijt culture, faith, and
everything in-between, on YouTube. a redesign of Frultfulness on the Frontline).
2. Focusing on the implementation of the work strategy to support strategic priority one lfrontllnesl
under the leadership of David Walker.
3. Identlfylng major partnership opportunitles that wlll enable us to scale and accelerate our impact.
4. Continuing to priorit15e the reach and Impact of our content through digital media.
5. Maximising the reach and impact of Vital Signs, a new resource designed to help embed whole-life
disciplemaking into the Ilfe and culture of churches.
Below are the specific initiatives to support the progress of our strateglc prlorltles. Some activities
support more than one goal.
> strateglc priority I: Frontlines. Inspire Chrlstians to see how their everyday frontllnes matter
to God and equip them for fruitfulness there.
Implement a new work strategy, under the leadership of David Walker, ￿fresh existing
assets, and develop new ones to See every ChristSan confident in their calling and equipped
for fruitfulness in thelr workplace.
Continue to grow profile and engagement through Our presence at festivals and through
the LICC Vision tour.
Undertake due diligence for a major new partnership and maximise synergies Wlth LICC'5
current offering to extend strategic audience reach and impact.
strdteglc prlorlty 2: ChU￿h. Embed whole-life disciplernaking in the life of the gathered
church.
Successfully launch Vital Signs, our new resource. which includes an online diagn05tic tool,
a book. and a series of videos, and helps leaders embed whole-life dlsciple maklng into the
life of their churches.
Develop our relationshlp with Integrity music and artists through the 'Boundless: songs for
the scattered church, songwriting camp and beyond.
Develop strategit partnerships with larger thurches li.e. over 5001, and other networks and
colleges trainlng church leaders.
> Strategic priority 3: Culture. Help individuals understand their culture* grapple with complex
issues, and live wisely in our time.
Develop LICCS podcast offerinB and grow audlence reach.
Continue staling our current offer to reach new audiences le.8. through the production and
launch of the Reimagine small group resourcel.
LICC Llmlted
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UCC LIMITED
THE LONDON INSTITUTE FOR CONTEMPORARY CHRISTIANITY
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024
> Strate8lc prlorlty 4: Blble. Grow confldence In the Bible, its whole-life relevance, and practKal
application.
Complete and market a major new resource in partnershlp with another organisatk)n to
maximlse engagement.
Continue to offer world-dass content (written. audlo-vlsual, and In person} to help peop
read the Bible through whole-lrfe eyes.
Financial review
The deficit for the year after unrealised losses on investments was £327,52512023'. deficit of £42,386). A
deflcit budget for 2023-24 had been approved in order to invest our reseNes In increasing our reach and
impact. Notwithstandlngthis, the end result was a larger deficit than budgeted which was mainly due to the
timing of a slgnificant donation. Additionalty. the eeonomlc environment, the closure of some famity trust
f unds that have historically supported vs and the absence of a Di￿ttor of Fundraising for half of the year
have all contrlbuted to a challenging financial tontext. However, despite thls, we celebrate the fatt that, by
the grace of God, we remain In a healthy flnancial position.
Total incoming resources forthe year were £1,695,04712023: £2,048,789). Although thls is a decrease from
the outstanding 2022-23 result, it still represents a 17% Increase compared to 2021-22.
During the year expenditure rose by 1.7% to £2.021,633 from £1,987,147.
Overall investments were largely unchanged with an unrealised loss of £93912023: £104,028).
Investments
LICC has an investment policy whtch seeks to manage risks Suth as volatlllty, Ilquidity, security. ￿tum,
reputatlon, and inflatw)n. Investments are spread across a variety of institution5 Wlth balan￿d portfolios.
LICC invest5 funds that are not required at short notice. The investment funds selerted are designed
especially for charities and the trustees considerthese have performed adequately In relation to the market
and the circumstances. Envlronmental, social. and governance factors are considered In the selection of
funds.
The Finance and Operations Committee scrutlnlses LICC'S investments.
Resenos
At 31 March 2024, LICC had unrestricted rese￿e5 of £915.23412023: £1,250,1341 of whith £28.248 12023.,
£41,456) has been deslgnated for futu￿ requlrements leaving 'free' reseNes of £886,986 12023..
£1,208,678), see notes 19 and 20.
The ￿SerVeS policy is reviewed by the Board of Trustees annualty. The trustees have agreed that 'free'
reseNes should fall within a range which would enable LICC to withstand a variety of stre55 scenarios. Thi5
range reflects the amount needed foran orderfyclosure of the charity plus amounts that would enable the
organisation to withstand a sustained drop in incorne caused bya varietyof different st￿ssesfOr3 period of
twelve months. The target range is currently set at £600k-£800k.
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LICC LIMITED
TME LONDON INSTITUTE FOR CONTEMPORARY CHRISTIANITY
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 31" MARCH 2024
This range equates to between 3.5 and 4.5 months of total running costs. The current reseNes level of
£886,986 is slightly higher than the target range. LICC remains commlttedto a growth strategy and has set a
deflcit budget for 2024-25 to invest some of these re5eNes in increasing our impart, It IS experted that by
31st March 2025, the level of 'f ree, reserves wlll fall within the target range.
In addition to unrestricted funds, LICC had expendable endowment funds of £92,21312023., £84,8381.
Going concern
The trustees considerthatthe charity can continue as agoing concernfora period of at least 12 monthsf rom
the date of approval of these financial statements. The trustees aL50 have a reasonable expectation thatthe
charity will have adequate resources to contlnue in operation for the foreseeable f uture.
Risk
The risks faced bythe tharity have been reviewed during the year, and policies and controlsto mitlgate these
risks are in place.
The lour most significant rtsks Identified, together with mitigating attions are:
Failure to deliver the mission against the set success criteria, caused by lack of focus, relevan￿, or
Inability to attract or retain key staff. The new strategy provide5 US with the necessary clarity and
focus with the risk of dlstraction being mitigated through regular Strategic Leadership Team
discussion5. conslstent messaglng, one-to one meetings, and staff workshops. Performance is
monitored quarterly against the current yearfs prioritles and targets are reviewed. Work has been
carrled outwlth the help of Eido to assess ourlmpact and in September2023 ourfirst Impact Report
was published.
Voluntsry income doe5 not grow Sufficient￿ to match the growth strategy and we remain highlv
dependent on a small numberof major donors. Followingsuccessf ul recrultmentto the fundralsing
team, our Income generation strategy is being reviewed and updated. Key dependencies of income
sourcesare reviewed bythe Finance & Operations Committee and everyeffort made to maximise
the diversificatlon of income sources with income targets developed. Monthly management
accounts are provided to the Executive and the Finance and Operations Committee. so that there is
early awareness of any potential shortfalls.
Reputational damage arislng from cultural contexti public messaging, and integrity of personnel.
LICC'S theologlcal approach is carefully and prayerfully considered, with broad consultation for anv
Issues which are regarded as particularly sensitive. and escalation to the Board as appropriate. We
have a reputational risk management framework in place, a strong Communications Team with
access to external support where needed, and there are regular l..1 meetings between the Board
Chair and Chief Executive. There is also a regular dlalogue between trustees and those on the
ExecutiveTeam. We promote a culture of transparency arid accountablllty. We have robust policies
in place including Whistleblowing, Safeguardlng, Bullylng and Harassment along with relevant
sections within our Staff Handbook.
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UCC LIMITED
THE LONDON INSTITUTE FOR CONTEMPORARY CHRISTIANITY
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024
Spiritual opposltlon. Our work is not only in the physical dimenslon, there are many spirltual
aspects to what we do and we must remain prayerful and faithful. Our trustees, staff and some
supporters pray for the organisation on a regular basis.
Remuneratlon policy
At LICC. it Is accepted that most individuals are attracted, retained, and motivated by our calling and misslon.
However, we should never seek to exploit this motivatlon, remembering that Jesus, own teaching Is that the
'worker deserves hSs wages, ILuke 10.71, In settlng remuneration and in accordance wlth our values. LICC
adopts the following prSnciples:
l. We seek to offer fair and generous pay for all staff, not least towards those in lower graded roles.
2. We seek to reflect objective measures to quantify the reward appropriate for the role (typically these
mea5ure5 will include educational attainment or skills, responsibility, complexlty, rlsk, relationships
pressure of work and environment).
3. We ￿COgnise that pay is part of a wider employment package that includes not only other tangible
benefits le.g. pension, maternity & paternlty pay, death-in-service coverl but also personal
development, fulfilment and assoclation with LICC'S cause.
4. We will agree on remuneration band5 Using a variety of data including relevant benchmarked salary
ranges in the UK charity sector (using Cronerl.
The Implementation of thls pollcy Is effected by LICC'S Executive. The People Committee provides governance
oversight and Input on all matters concerning principles and policies of pay and benefits, whi15t the Finance
and Operations Committee sets the overall salary budget and review5 and approves salary increase5.
comparing with approprlate benchmarks. All salaries are reviewed on an annual basis.
Fundralslng policy
The Charity does not use fundraising 5ervice5, consultants or external professional fundraisers to undertake
its fundraising activities. Additionally, no data is shared beyond our Privacy Pollcy or sold to any extemal
agencies. LICC Issues quarterly paper mailings and monthly and bi-weekly emails to subscribers Iwhich they
can unsubscribe from) that share information about the charitable work of LICC. The Charity invites
individua15 to attend events but does not exert undue pressure to attend or donate. It doesn't approach or
pressure vulnerable people to support its work. The Charlty adheres to the Fundralslng Code of Practice
Issued by Fundraising Regulator, and a complaints policy is in pla￿. No complaints about fundraising were
received durlng the year.
Statement of Board of Trustees, responslbilities
The trustees (who are a150 the dlrectors of LICC for the purposes of company lawl are responsible for
preparing the Report of the Board of Trustees and the financial Statements In accordance with applicable law
and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practicel,
Including Financial Reporting Standard 102 The Financial Reportlng Standard applicable in the UK and
Republic of Ireland,.
LICC Llmlted
Page 11

LICC LIMITED
THE LONDON INSTITUTE FOR CONTEMPORARY CHRISTIANITY
REPORT OF THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Company law requlres the Board of Trustees to p￿pare financial statements for each financlal year which
give a true and fair view of the state of affairs of the charitable company and of the incoming resources and
application of resources, including the income and expenditure. of the charitable company for that period.
In preparing those financlal statements, the trustees are required to..
Select Suitable accountlng policles and then apply them conslstently
Observe the methods and principles in the Charity SORP
Make judgements and estimates that are reasonable and prudent
Prepare the financial statements on the going concern basls unless it 15 inappropriate to presume
that the charltable company will continue in buslness
The trustees are responsible for keeping proper accounting records whlch dlsclose with reasonable acturacv
at any time the financial position of the charitable company and to enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of
the charitable company and hence for taklng reasonable step5 for the prevention and detection of fraud and
other irregularlties.
In so far as the trustees are aware:
There is no relevant audit information of which the charitable company's auditors are unaware
The trustees have taken all Steps that they ought to have taken to make themselves aware of anv
relevant audit information and to establlsh that the auditors are aware of that information
Auditors
Knox Cropper LLP have slgnlfled their willin8ness to continue in office and a resolution proposing their
reappointment will be submitted to the Annual General Meetlng.
8y order of the Board of Trustees on 2 July 2024 and signed on its behalfr.
Paul Valler, Chalr
St. Peter's,
Vere Street,
London WIG ODQ
LICC Limited
Page 12

LICC LIMrrED
THE LONDON INsfiTUTE FOR CONTEMPORARY CHRISTIANITY
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024
Oplnlon
We have audited the financial statements of LICC Llmlted for the year ended 31 March 2024 which comprise
the statement of financlal activities, the balance sheet, the statement of cash flows and notes to the flnancial
statements, Including a summary of significant accounting policies. The financlal reporting framework that
has been applied In thelr preparation 15 applicable law and United Kingdom Accounting Standard5, Including
Financial Reporting Standard 102 The Financlal Reportin8 Standard appllcable in the UK and Republic of
Ireland (United Kingdom Generally Accepted Accountlng Practice),
In our opinion, the financial statement5-
• give a true and falr view of the state of the charltable company's affairs as at 31 March 2024 and of its
incoming resources and applicatlon of resources for the year then ended:
have been property prepared in accordance with United Kingdom Generally Accepted Accounting
Practice, including Financial Reporting Standard 102 The Financlal Reporting Standard applicable in the UK
and Republit of Ireland., and
have been prepared in accordance wlth the requirements of the Companies Act 2006.
Basis for oplnlon
We conducted our audit in accordance wlth International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilities under those Standards are further described in the Auditorfs
responslbilltles for the audit of the financial statements sectlon of our report. We are independent of the
charitsble company in accordon¢e with the ethical requlrements that are relevant to our audit of the
financlal statement5 in the UK, Including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requlrements. We believe that the audlt evidence we have obtained
is sufFicient and appropriate to provide a basi5 for our opinion.
Concluslons relatlng to golnB concem
In auditlng the flnancial statements, we have concluded that the tru5tees' use of the going concern basis of
accountlng in the preparatlon of the financial statements 15 approprlate.
Based on the work we have performed, we have not identified any material uncertainties relating to events
or conditions that, indivldually or collectivelyi may cast significant doubt on the charitable tompanws ability
to contlnue as a going concern for a period of at least twelve months from when the financial statements
are authorSsed for Issue.
Our re5ponslbllities and the responsibilities of the trustees wlth respect to going concern are described in
the relevant sections of thi5 report.
LICC Limited
Page 13

LICC LIMITED
THE LONDON INSTITUTE FOR CONTEMPORARY CHRISTIANITY
INDEPENDENT AUDITORS, REPORTTO THE TRUSTEES
FOR THE YEAR ENDED 31sr MARCH 2024
Other Information
The other information comprises the information Included in the annual report, other than the financial
statements and our auditorfs report thereon. The trustees are responslble for the other information.
Our oplnlon on the financlal statements does not cover the other information and, except to the extenl
otherwlse explicitly stated in our report, we do not express any form of assuran￿ conclusion thereon.
In connectlon wlth our audit of the finantial statements, our responsibllity 15 to read the other Information
and. in doing so, consider whether the other information 15 materially Inconsistent with the financial
statements or our knowledge obtained In the audit or otherwise appears to be materially misstated. If we
Identify such material inconslstencies or apparent material misst4tement5, we are required to determine
whetherthere is a material mi55tatement in the financial statements ora material misstatement of the other
information. If, based on the work we have performed, we conclude that there is a material mi55tatement
of thls Other Information, we are required to report that fact. We have nothing to report in this regard.
Oplnlons on other matters prescrlbed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given In the Trustees, report, which includes the directors, report prepared for the
purposes of company law, for the financial year for which the financial statements are prepared is conslstent
with the finantial 5tatements,' and
the directors, report included wlthin the Trusteeg report has been prepared in accordance with applicable
legal requlrements.
Matters on whlch we are requlred to report by exception
In the light of the knowledge and understanding of the charttable company and Its environment obtained In
the course of the audit, we have not identifled material misstatement5 in the directors, report included
within the Trustees. report.
We have nothin8 to report in respect of the followin8 matters in relation to which the Companles Act
2006 requires us to report to you if. in our opinion:
• adequate accounting records have not been kept, or returns adequate for our audit have not been received
from branches not Vlslted by us; or
the financial statements are not in agreement wlth the accounting records and returns; or
certain disclosures of Trustees, remuneration speclfied by law are not made,. or
we have not received all the information and explanations we require for our audlt; or
• the Trustees were not entitled to prepare the financial statements in accordance wlth the small companies
regime and take advantage of the small companles. exemptions in preparing the Trustees, report and from
the requlrement to prepare a strategic report.
LICC Umlted
Page 14

UCC LIMITED
THE LONDON INSTITUTE FOR CONTEMPORARY CHRISTIANITY
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024
Responsibilttles of Trustees
As explained more fully in the Trustees, respoFlSibilities statement, as set out in the Report of the Board of
Trustees. the Trustees, who are also the directors of the charStable company for the purposes of company
law, are respon5Ible for the preparation of the financlal statements and for being satlsfled that they glve a
true and fair view, and for such intemal control as the Trustees determine is necessary to enable the
preparation of financial statements that are free from material misstatement. whether due to fraud or error.
In preparing the financial statements, the Trustees are responslble for assessing the company's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accountin8 unless the Trustees elther Intend to Ilquidate the company or to cease
operation5, or have no realistic alternative but to do so.
Auditoe$ respenslblllties for the audlt of the flnanclal statements
Our objectives are to obtain reasonable assurance about whether the financl31 statements as a whole are
free from material misstatement, whether due to fraud or error. and to issue an auditorfs report that
Includes our opinion. Reasonable assurance is a high level of assurance but Is not a guarantee that an audit
conducted in accordance with ISAS IUKI will alway5 detect a materlal misstatement when it exists.
Misstatements can arise from fraud or error and are considered materlal if, Individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basls of these
financial statements.
Irregularities, including fraud, are Instances of non-compliance with laws and regulations. We design
procedures in line wlth our responsibilitie5, Outlined above, to detect material mlsstatements in respect of
Irregularities, including fraud. The extent to which our procedures are capable of detecting Irregularltles,
including fraud Is detailed below..
The Charitable Company is required to comply with both company law and charity law and, based
on our knowledge of its activitles, we identified that the legal requirement to accurately account for
restricted funds was of key significance.
We Eained an under5tandlng of how the charitable company complied with its legal and regulatory
framework, Including the requirement to properly account for restricted funds, throu8h discussions
with management and a review of the documented wilicies, procedures and control5.
The audit team, which is experlenced In the audit of charitles, conside￿d the charitable company's
susceptibility to material misstatement and how fraud may occur. Our consideration5 Included the
risk of management override.
Our approach was to check that all restricted Income was properly identified and Separately accounted for
and to ensure that only valid and approprlate expenditure was charged to restricted funds. This included
reviewing journal adjustments and unusual transactions.
A further description of our responsibillties for the audit of the flnanclal statement5 is located on the
Flnancial Reporting Council's website at: www.frc.or
auditorsres
onsibilities. Th15 description forms
part of our auditorf5 report.
UCC Limited
Page 15

UCC LIMITED
THE LONDON INSTITUTE FOR CONTEMPORARY CHRISTIANITY
INDEPENDENT AUDITOR5, REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024
Use of our report
Thi5 report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undeitaken, so that we might state to the
charitable compan￿5 member5 th05e matters we are required to State to them in an auditorfs report and
for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to
anyone other than the charitable company and the charitable tompany's members as a body, for our audit
work, for this report or for the opinlons we have formed.
Rlchard Bllllnghurst FCA (Senlor Statutory Auditor)
For and on behalf of Knox Cropper LLP, Statutory Auditor
65 Leadenhall Street
London
EC3A 2AD
July 2024
LICC Limited
Page 16

LICC LIMrrED
THE LONDON INsrrruTE FOR CONTEMPORARY CHRISTIANrrY
STATEMEKf OF FINANCIAL ACTIvrrIES
FOR THE YEAR ENDED 31sf MARCH 2024
Unrestslcted
Funds
Restrlcted Endowment
Funds
Funds
2024
Total
2023
Totsl
INCOME FROM:
Donatbons and legacles
Charitstle artlvitbes
Other trading actfvitles
Investments
1,236,896
81,164
37,828
35,680
297,440
1,534,336
81,164
37,828
41,719
1,887,670
102,262
31,305
27,552
6,039
Total Income
1391568
1695 047
EXPENDITURE ON:
RalslThJ Fund5
ChadtaL* ActIvI￿e5
168,671
1,555,522
168,671
1052,962
89,828
1,897,319
297,440
Totsl Ewendlture
1724 193
297 440
2 021633
1987 147
Net Income1(Expend￿re)
before gainsl{10sse5) on
Investments
(332,625)
6,039
{326,586)
61,642
Other Recognlsed Galns
and L055e5
Net gainsl{losses) on
Invesiments
13
(2,275)
1,336
(939)
(104.028)
Net Income/(Ex￿ndIlUre)
l Net Movement in Fund5
(334,900)
7,375
(327,525)
(42.386)
Fund balar￿e5 brought
fO￿ard
1,250,134
84,838
lJ34,972
1,377,358
Fund balances carrted
forward
915 234
1007 447
1334 972
The companls income and expendlture all relate to contlnulng operatlons.
The full comparatlves are *t out In Note 23 to the accounts.
LICC Llmlted
Page 17

LICC UMITED
THE LONDON INSTrnITE FOR CONTEMPORARY CHRISTIANrrY
BALANCE SHEEr
AS AT 31ST MARCH 2024
2024
2024
2023
2023
Notes
FIXED ASSErs
Tangible Assets
Intsnglble Assets
Investments
li
12
13
25,206
3,042
26,445
15,011
803 057
844,513
838,892
CURRENT ASSETS
Stocks
Debtors
Cash Deposlts
Cash at Bank and in Hand
25,575
97,413
705
215 612
339,305
38,006
96,032
19,635
471 703
625,376
14
Creditors: Amount$ falling
due within one year
15
(170,750)
(134,917)
Net Current Assets
168,555
490,459
Totsl Assets less Current
Llabilltles
1,007,447
1,334,972
Funds
Capltsl Funds
Endowments
17
92,213
84,838
Inc(*ne Funds
Restritted Funds
18
Unrestricted Funds.. -
Deslgnated Fund
General Fund
19
28,248
886 986
41,456
1208 678
915,234
1,250,134
1,007,447
1,334,972
Approved by the Director5 on 2TvJ July 2024
and signed on thelr behalf:
Paul Valler, Chairman
Reglstered Company Number: 01680265
LICC Llmlted
Page 18

UCC LIMITED
THE LONDON INsfrniTE FOR CONTEMPORARY CHRIsfiANrrY
srATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST MARCH 2024
2024
2024
2023
2023
CASH FLOWS FROM OPERATING
ACTIVITIES
Net Incomel(expendlture) for ￿ year
{327,5251
{42,386)
Adjustments for:
Depreclatlon charges
Amortisation charges
Interest and dlvldends
{Gains)/losses on Investments
{Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) In creditors
11,112
11,969
141,7191
939
12.431
(1,3811
9,802
11,970
{27.552}
104,028
18,956}
(29,9451
NET CASH PROVIDED BY (USED
IN) OPERATING ACTIVITIES
{298,3411
26,184
CASH FLOWS FROM INVESTING
ACTIVITIES
Interest and dlvldends receSved
Purchase of tanglble f￿ed assets
Purchase of Investsnents
41,719
(9,8731
27,552
(21,4551
7,387
CASH (USED IN) PROVIDED
BY INVESTING ACTIVITIES
23,320
{1,2901
Change In cash and cash equlvalents In
the year
1275,0211
24,894
Cash and cash equivalents at the
beglnnlng of the year
491,338
466,444
Cash and cash equivalents at the end
of the year
216,317
491,338
LICC Llmlted
Page 19

LICC LIMrrED
THE LONDON INsfrniTE FOR CONTEMPORARY CHRISTIANrrY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31￿ MARCH 2024
CHARITY INFORMATION
LICC Llmlted Is a private company limlted by guarantee (reglstered company number 01680265) whlch
is incorporated In England and Wales. The address of the reglstered offke Is St. Peterfs, Vere Stree(
London, WIG ODQ.
ACCOUNTING POLICIES
The principal accountlng policies adopted and crltkal area5 of judgements are as folbws:
2.1 Basis of preparatlon
The accounts have been prepared in accordan￿ wlth the Charities SORP (FRS 102) applicable to
charlties preparing thelr accounts in accordance wlth the Finanaal Rep)rtlng Standard applicable in the
UK and Republlc of Ireland and the Charitles Act 2011 and UK Generally Accepted Prattice as It applles
from l January 2018.
LICC meets the deflnltlon of a publlc benefit entty under FRS 102. Assets and Ilabllltles are initkilly
recognised at historical cost or transaction value unless otherwise stated In the accounting policies
notes.
2.3 Preparatlon of the accounts on a going concern basls
The trustees have assessed whether the use of the going concern basis is approprlate and have
consldered possible events or condltlon5 that might cast slgnificant th)ubt on the ablllty of the Charity
to contlnue as a going COn￿rn. The trustees have made this assessment for a perfod of at least one
year from the date of approval of the flnancial statements. In particular the trustees have conside￿d
the Char(Vs forecasts and projections and have taken account of pressures on donation and investment
Income. After maklng enquiries the trustees have concluded that the Charity has sufficient resources to
continue In operational existen￿ for the foreseeable future. The Charity therefore contlnues to adopt
the going con￿rn basis in preparing its flnancial ststements.
2.4 Functlonal currency
The functlonal currency of the Charity is considered to be pounds sterllng because that is the currency
of the primary economic environment in whlch the Charity operates. The flnanclal statements are also
presented In pound5 Sterling.
2.5 Xncome and Expendlture
Income
All income is Included in the Ststement of Flnanclal Activities when the charltable company Is legally
entitled to the income, ￿￿[pt Is probable and the amount can be quantiffied wlth reasonable accuracy.
Donations and glfts are credlted to the SOFA on re￿Ipt.
Expenditure
Expenditure is ￿CogniSed once the￿ is a legal or constructive obligation to make a payment to a thlrd
party, it is probable that setttement wlll be requlred and the amount of the obligatlon can ￿ measured
Ilably.
LICC Limlted
Page 20

LICC LIMITED
THE LONDON INsrrruTE FOR CONTEMPORARY CHRIsfIANITY
NOTES TO THE FINANCIAL sfATEMEKrs
FOR THE YEAR ENDED 31W MARCH 2024
AccourirING POLICIES (Contlnued)
Support costs are those functlons that asslst the work of the charity but do not dlrectly undertake
charltsble athvltles. Supwrt costs include back office costs, finan￿1 personneli payroll and governance
costs. These costs have been aliocated be￿een cost of raising funds and expendliure on tharitable
actlvttles on the bosls of stsff tlme.
2.6 Tanglble and Intangible Mxed Assets
Tanglble flxed assets are stated at cost less depreciation. DepreCIat￿Sn is provided at rates calculated
to write off the cost less estlmated resldual value of each asset over Its expected useful Ilfe, as follows:
Fixtures and Fittings
IO% stralght Ilne
Equlpment
20Yo Stralght Ilne
Computer Equlpment
33.3% straight line
Intsngible assets are stated at C05t less amorusatlon. Assets are amortlsed once brought Into use
Amortlsatson Is provlded at ratss calculated to write off the cost less esttmated resldual value of each
asset over Its expthd usefvl life, os follows:
CRM system
20% straight Ilne
2.7 Investments
Investments are siBted In the balan￿ sheet at thelr market value as at the balan￿ Sheet date. All
movements In value arlsSng from Investment changes or revaluation are shown In the Statement of
Financial Attivities.
Reallsed gains or1055es on investments are calcvlated as the differen￿ be￿een the disposal proceeds
and market value at the beglnnlng of the year or cost If purchased durlng the year. Unrealised galns
or losses are derived from the movement In market values during the year.
2.8 stocks
St(Kks are of goods for resale and are stated at the lower of cost and net reallsable value.
2.9 Rnanclal Instruments
Flnandal assets such as cash and debtors are MeasU￿d at their present value of the amounts
recelvable, les5 an allowance for the ex￿cted level of doubtful recelvabks, Financial liabilltles such as
trnde credltors, loans and finance leases are measured at the present value of the obllgatlon.
2.10 Operatlng Lease$
Rentals payable under operating leases are charged on a straight line basls over the temi of the lease.
2.11 Pension Costs
The company makes contributlons to Personal Pens5on Plans for all eligible employeesi unle55 they have
opted out of the company's scheme.
LICC Llmlted
Page 21

LICC LIMITED
THE LONDON INSTrruTE FOR CONTEMPORARY CHRISnANITY
NOTES TO THE FINANCIAL sfATEMENTS
FOR ThE YEAR ENDED 31ST MARCH 2024
ACCOUNTING POLICIES (Contlnued)
2.12 Fund Accounting
Funds held by the charitable c(*npany are either:
Unrestrlcted funds- these are funds whlch can be us&1 in accordan￿ wlth the company's charltable
objects at the discretlon of the trustees, some of which have been designated for speclflc purposes.
ENlowment funds- these are funds, the capltal of whKh has to be retslned.
Restricted funds - these are funds that can only be used for particular restricted purp)ses wlthln
the obJects of the charitsble company. Restdctk)ns arlse when speclfled by the donor or when
funds are ralsed for particular restrfcted purposes.
Further explanatton of the nature and purp)se of each fund is included In the notes to the financial
statements.
2.13 Forelgn Currencles
Assets, l￿bIlItIeS, revenues and costs expressed In forelgn currencies are translated Into sterling at rates
of exchange rullng on the date on which transactions occur, except for monetary assets and Ilabllities
whKh are translated at the rate ruling at the balance sheet date. DIfferen￿S arlsing on the translation
of such items are dealt with in the statement of financial actIvI￿e$.
INCOME
Income and the result for the year are attributsble to the company's activitles In seeklng the
advan￿rnent of Chrlstlanlty, In particular by providing Instructlon In the Ch￿stIan falth, Ilfe and mlssSon
in the context of the contemporary world, With the eX￿ptIon of a very small amount of overseas sales,
all the Income arose In the Unlted Klngdcft).
4. INVESTMENT INCOME
Total
2024
Total
2023
Bank Interest
Income from Fixed Asset Investments
15,597
2,819
5. RAISING FUNDS
Total
2024
Total
2023
Direct Stsff Costs
Other Direct Costs
Support Costs (See Note 7)
115,620
22,921
30,130
168,671
53,336
5,721
30,771
89,828
All costs of raising funds are unrestrlcted.
LICC Umlted
Page 22

LICC LIMITED
THE LONDON INSTrruTE FOR CONTEMPORARY CHRIsfIANITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
6. CHARITABLE ACTIVITIES
Researchingi Envlslonlngi Equlpplng and Resourcing Chrlstlans and Churches
Total
2024
Total
2023
Dlrect Staff Costs
other Dlrect Costs
Support Costs (See Note 7)
957,920
322,570
572 472
1.852,962
997,716
324.001
575,602
1,897,319
7. SUPPORT COSTS
Ralslng
Funds
Charitable
Activities
Total
2024
Total
2023
Stsff Costs
Premises Costs
Office Costs
Other Costs
14,887
5,703
2,542
6,179
29,311
282,851
108,359
48,305
117,403
556.918
297,738
114,062
50,847
123,582
586.229
264,358
102,521
47,107
175,610
589,596
Staff Costs Governan
other G0Veman￿ Costs
415
404
819
7,882
7,672
15,554
8,297
8,076
16,373
11,897
4,880
16,777
Total Support Costs
30,130
572 472
602 602
606 373
8. STAFF cosrs
Total
2024
Total
2023
Gross Salary Costs
Ex-gratia
NIC Empbyerf5
Penslon Employer's
1,121.085
1,089.180
15.270
123,322
99.535
1,327.307
121.210
137.280
1,379,575
The average headcount during the year was:
27.8
24.9
The average number of stsff (full tlme equlvalent) durlng the year
was:
24.9
22.3
The totsl employee b￿rits of the Key Management Personnel of
the Charity, defined as the Senior Management Team as identified
In the Trustees Report were.,
248,674
366,962
LICC Llmlted
Page 23

LICC LIMITED
THE LONDON INSTrruTE FOR CONTEMPORARY CHiusfIANrrY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31sf MARCH 2024
8. STAFF cosrs (contlnued)
The number of empbyees whose employee benefits (excluding employer penslon costs) exceeded £60,000
was:
Total
2024
Total
2023
£60,001- £70,000
£70,001- £80,000
£80,001- £90,000
£90,001- £100,000
£ioo,ooi - £110,￿0
Contributlons to a defined contributlon pen5w)n scheme amounting to £45,060 (2023,. £44,397) were atso
made In respect of these staff MeM￿r5,
9. NET INCOME
This Is ststed after charglng:
Total
2024
Total
2023
Auditors, remuneration
statutory audit- current year
Depreciatlon
Amortlsation
4,900
11,112
11,969
4,250
9,802
11,970
10. TAXATION
The company Is a registered charity and no taxatlon Ilabllltles arise from its charltsble actfvitles.
LICC Limlted
Page 24

LICC LIMITED
THE LONDON INsrrrLrrE FOR CONTEMPORARY CHRIsfIANrrY
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31sf MARCH 2024
11. TANGIBLE FIXED ASSEfs- ALL FOR CHARrrY USE
fixtures &
Fittings
Computer
Equipment
Equlpment
Total
Cost
At start of year
Additions
Di5P05a15
At 31st March 2024
17,586
49,612
690
47,074
9,183
114,272
9,873
17,586
50.302
56,257
124,145
Depreciation
At stsrt of year
Charge for the year
Disposals
At 315t March 2024
17,215
36,336
3,022
34,276
8.026
87,827
11,112
17,279
39,358
42,302
98.939
Net Book Values
At 31st March 2024
307
10,944
25,206
At 14 Aprll 2023
371
12, INTANGIBLE FIXED ASSETS- ALL FOR CHARITY USE
CRM System
At start of year
Addltlons
Disposals
At 31* March 2024
59,843
Anwrtlsatlon
At start of year
Charge for the year
Dlsposals
At 315t March 2024
44,832
11,969
Net Book Values
At 3151 March 2024
3,042
At 1st Aprll 2023
LICC Umlted
Page 25

LICC LIMrrED
THE LONDON INsrrruTE FOR CONTEMPORARY CHRisfrANrrY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31W MARCH 2024
13. FIXED ASSETS - INVESTMENTS
Total
2024
Total
2023
Market Value
At Isr Aprll 2023
Purchases
Dlsposals
Galns l (Losses)
At 31&t March 2024
803.057
8,526
899,698
7,387
{9391
810 644
{104,028
803 057
2024
2023
Market
Value
Market
Value
BlackR￿k Charttes UK
Equlty
M & G Charlfund
CCLA COIF
Epworth AIF
Sarasin Alpha CIF
Endava plc
89.133
147,431
162,639
200,579
85,014
169,784
45.197
810644
89,133
152,213
126,500
78,986
126,500
31,723
805 055
143,244
155,935
183,705
82,218
156,470
81,575
803,057
160,738
126,500
78,986
126,500
31,723
613,580
14. DEBTORS
Total
2024
Total
2023
Due Wlthin One Year
Trade Debtors
Prepayments and accrued Or￿orne
other Debtors
34.71 S
61.281
1.417
97.413
22.176
73.553
303
96,032
15. CREDrroRS: Amounts falllng due within one year
Total
2024
Total
2023
Trade Credltors
PAYE and Social Security costs
VAT
Accruals and Deferred Income
21,191
30,689
2,528
116.342
170.750
7.139
35.513
1,292
90,973
134,917
UCC Limited
Page 26

LICC LIMITED
THE LONDON INSTITirrE FOR CONTEMPORARY CHRIsfxANrrY
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
15. CREDITORS: Amounts falllng due within one year (Contlnued)
Analysls of deferred Income
Total
2024
Total
2023
As at l* Aprll 2023
Released to the Statement of Financial Activities
Deferred in the current year
As at 315t March 2024
22,748
(22,74B)
45,290
45,290
32,083
(32,083)
22.748
22.748
16. PENSION COMMITMENTS
A stakeholder penslon scheme is open to all employees and the Charlty contributes to a number of personal
plans. The assets of the plans are held separately from those of the Charty In independently adminlstered
funds. The penslon cost charge represents contributions payable by the Charlty to these plan5 and amounted
to £137,280 durlng the year (2023.. £99,535).
17. EXPENDABLE ENDOWMENT FUNDS
2024
Movement In Funds
Balance at 1st
Aprll 2023
Balan￿ at 3181
March 2024
Income
Gain$1
(Losses) on
Investments
Endowment Fund & Legacy
Contlngency Fund
84,838
6,039
1,336
92,213
84,838
6,039
1.336
92,213
2023
Movement in Funds
Balance at 1st
Aprll 2022
Balance at 3191
March 2023
Income
Galnsl
(Losses) on
nvestments
Endowment Fund & Legacy
Contlngency FurKI
83,732
5,216
(4,110)
84,838
84,838
The Endowment and Legacy Contingency Fund has been set up as a last resort if no other source of finance
is avallable. It may be used to repay outstandlng commltments and debt arising in the unllkely event of the
company closing down.
There Is no restriction on expenditure from Income arising from this fund.
LICC Llmited
Page 27

LICC LIMITED
THE LONDON INSTrnITE FOR CONTEMPORARY CHRISTIANrrY
NOTES TO THE FINANCIAL sfATEMEKrs
FOR THE YEAR ENDED 31ST MARCH 2024
18. REsfRICTED FUNDS
The Income funds of the company Indude restricted funds comprising the followlng unexpended balan￿S
of dOna￿On$ and grnnts held on trust to te applied for speclflc purposes.
2024
Balance at
191 Aprll
2023
Income
Expenditure Transfersl
Gains on
Investments
Balance at
31st March
2024
Executlve Toolbox
Emerglng Generatlons
The Workpla
Vital Signs
10,000
281,052
2,888
3,500
297,440
110,0001
1281,0521
12,8881
3,500
(297,440)
297 440
2023
Balance at
1st Aprll
2022
Income
Expendlture
Transfersl Balance at
Garns on
31st March
Investments
2023
Prfnclpal trust funds
Dlck Blrd Fund
281
281
221
(221)
4,509
(4,569)
Other funds
Imaglne Project
The Workplace
Blble & Culture
Queen Project
9Jstsining Transformatlve
Dlsclples
Emerglng generatlons
Growing on the Frontline
14,943
5,770
1,749
17,673
21,200
160,264
{14,9431
15,7701
11.7491
{17.6731
{62,0251
{160,264}
43.222
(305,646)
40,825
43,222
84,047
221,599
221880
310 215
221
Prlnapal trust funds are..
The Dlck Bird Fund is used for International ministry.
Otherfunds..
The Imaglne Project Fund Is to be used for LICC'S work focussed on creating whole-life dlsdple-making
communltfes.
The workpla￿ Fund is to be used for UCC'S range of projects to help individuals and churches advan
the cause of the Christian falth In the workpla￿.
The Blble and Culture Fund is to be used to enable individuals and church leaders to engage better wlth
the Bible and how It applies in today's world.
LICC Llmlted
Page 28

LICC LIMITED
THE LONDON INsrrruTE FOR CONTEMPORARY CHRIsfIANITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31sf MARCH 2024
18. RESTIUCTED FUNDS (contlnued)
The Queen fund is to be US￿ for the devebpment and dlsseminatlon of ￿SOUr￿5 that hlghllght the
role of the Queen'5 Christlan falth In her Ilfe and servlce, particularly amongst churches in the UK.
The SustalnlNJ Transfomiative Disciples Project has been set up to Identlfy how to sustaln a
disciplemaklng culture In a local church and to develop new resources to help Christians maxlmlse thelr
Impact on their dally frondlnes.
The Emerging Generattons Fund Is to ￿ used for LICC'S worf( supporting young adult ChrSstSans to grow
as disciples in their everyday Ilfe and work
The Growlng on the Frondine Fund Is to be used for the devdopment of a Small group resource of the
same name which will help Chrfstlans deepen thelr falth.
ExecutSve Toolbox is a tsilored leadership course speclfically for Christians in senlor marketplace
leadershlp roles and aims to equip them to have greater impact for Christ in their workpla￿, and to be
agents of transformatlve change. In the year 2023-24 thls course was run in Scotland.
Vital Slgns Is a comprehensive resourtr deslgned to help church leaders assess how whole-llfe-enabllng
their chuKhes a￿. By focussing on 20 vital signs, it provldes dlagnostic tools and resour￿$ to help
them make progress Sn embedding and 5UStaining whole-llfe values in their churches.
19. DESIGNATED FUNDS
2024
Balance Jt
311t March
2023
Income
And New
Allocatlons
utlllsed
Durlng
Year
Transfersl
Galns on
Investments
Balance
at 31Ji
March
2024
Tanglble Hxed Asset
Fund
Intangible Fixed Asset
Fund
26,445
9,873
(11,112)
25,206
15,011
41,456
111,969)
23,081
3,042
28,248
9,873
2023
Balance at
31Jt March
2022
Income
And New
Allocatlons
utlllsed
Durlng
Year
Transfersl
Galn$ on
Investments
Balance
at 311t
MaKh
2023
Tanglble Asset
Fund
Intanglble Flxed Asset
Fund
14,790
11,655
26,445
15.011
15,011
41,456
14,790
26.666
Tanglble Flxed Asset Fund: Thls fund provides for future depreclatlon charges.
Intanglble Flxed Asset Fund: Thi5 fund provldes for future amortisation charges.
UCC Llmlted
Page 29

LICC LIMITED
THE LONDON INsfITUTE FOR CONTEMPORARY CHRISTIANITY
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 315f MARCH 2024
20. ANALYSIS OF NEf ASSETS BEfwEEN FUNDS
Unrestrlrted
Funds
Restrlcted
Funds
Endowment
Funds
Total
Fund balances at 315t March
2024 are represented by
Tangible Fixed Assets
Intangible Fixed Assets
Investrnents
Net Current Assets
Net Total Net Assets
2S,206
3,042
718,431
168,555
915,234
25,206
3,042
810,644
168,555
1,007,447
92,213
92.213
Unrestrlcted
Fund$
Restrlcted
Funds
Endowment
Funds
Total
Fund balances at 31gt March
2023 are represented by
Tangible Fixed Assets
Intangible Flxed Assets
Investments
Net Current Assets
Net Totsl Net Assets
26.445
15,011
718,219
490,459
1,250,134
26,445
15,011
803,057
490,459
1,334,972
84,838
84,838
21. OTHER FINANCIAL COMMThMENTS
The total future minimum lease payments under nOn-Can￿lIable operatlng kases are payable:
Land and Bulldings
2024
2023
Wlthin One Year
Be￿een One and Five Yea
73,000
54,750
73,000
127,750
127 750
On 21st November 2022 a renewed li￿n￿ agreement in respect of St Peterfs Church, Vere Street, was
ag￿ed wlth All Souls Langham Pla￿ Church, London, commencing 1st January 2023 at an annual rentsl
of £73,000, untll 31st D￿mber 2025.
Durlng the year, lease payments amounted to £73,000 (2023.. £67,750).
LICC Llmlted
Page 30

LICC LIMITED
THE LONDON INStrnlTE FOR CONTEMPORARY CHR15TIANrrY
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31W MARCH 2024
21. OThER FINANCIAL COMMITMENTS (continued)
Photocopier Lease
2024
2023
Within One Year
Be￿ttn One and three Years
1,480
2,590
On 7 November 2023, an operatlng lease was taken out In respect of a photc(opler for a perhjd of 36
months beginning on l December 2023.
Durfng the year lease payments amounted to £493 {2023: nll).
22. TRUSTEES, REMUNERATION AND RELATED PARTY TRANSACTIONS
No remuneratlon was pald to the trustees in the year (2023,, £NII). Expenses totslllng £280 were paid to
three trustees In the year (2023: £Nil).
A number oftrustses, key management personnel and parties related to key management personnel gave
donation5 to the Charlty durlng the year. There were no conditions attached to these dO￿a￿On$. The
aggregate donatlons gfven to the Charlty by related partie5 was £68,625 (2023: £129,278)
LICC Llmlted
Page 31

LICC LIMrrED
THE LONDON INSTrtUTE FOR CONTEMPORARY CHRISTIANrrY
NOTES TO THE FINANCIAL sfATEMEKrs
FOR THE YEAR ENDED 31W MARCH 2024
23. COMPARATIVE sfATEMENT OF FINANCIAL AcfivrnES
Unrestrl¢ted
Funds
Restricted
Funds
Endowment
Funds
2023
Total
2022
Total
Notes
INCOME FROM:
DOna￿onS and legacle5
Cha￿table actfvities
Other tradlng activities
Investments.
1.666,071
102,262
31,305
22,055
221,599
I￿87,670
102,262
31,305
27,552
I￿41,334
77,920
11,241
23,133
281
5,216
TL*al Income
1821693
1453 628
EXPENDThURE ON:
Ralslng Funds
Chadtable kuvI￿eS
89,828
1,587,104
89,828
1,897,319
96,807
1,540,744
310,215
Totsl Expend￿Ure
1676 932
310 215
1987 147
1637 551
Net Incomel{ExpendibJre)
before galnsl{losse51 on
Investrnents
144,761
(88,335)
5,216
61.642
{183,923)
Other Recognised Galns
and Losses
Net gainsl(losses) on
Investments
13
(99,697)
(221)
(4,110)
{104,028)
106,928
Net Incomel{Expenditure)
45,064
(8B,556}
1,106
(41386)
(76,995)
Transfers bets¥een funds
Net Movement Sn Funds
45,064
{88,556}
1,106
(4l386)
(76,995)
Fund ba￿n￿S brought
forward
1,205,070
88,556
83.732
1,377,358
1,454,353
Fund balan￿ carr￿d
forward
1250 134
1334 972
1377 358
LICC Limited
Page 32