**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** ## **LIFESPRING TRUST** ## **CHARITY REGISTRATION No: 296276** Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF ## **LIFESPRING TRUST** ## **CONTENTS** |Pages 3 to 5|Report of the Trustees for the Year Ended 31 December 2022| |---|---| |Page 6|Statement of Financial Activities| |Page 7|Balance Sheet| |Pages 8 to 14|Notes to the Financial Statements| |Page 15|Independent Examiner's Report to the Trustees| 2 **LIFESPRING TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022** ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **CHARITY NUMBER** 296276 **OTHER NAME** LifeSpring Church **START OF FINANCIAL YEAR** 1st January 2022 **END OF FINANCIAL YEAR** 31st December 2022 **TRUSTEES AT 31ST DECEMBER 2022** Mr Luke Ellis Mrs Catherine Peirce Mr David Cornelius Ms Elizabeth Monger Mr Oluwasegun Olojo-Kosoko **PRINCIPLE ADDRESS** 143-145 Oxford Road Reading, RG1 7UY. **PRIMARY BANKERS** HSBC 26-28 Broad Street Reading, RG1 2BU. **SOLICITORS** Hewetts 55/57 London Street Reading, RG1 4PS. **ACCOUNTANTS** Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane, Bosham West Sussex PO18 8NF ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The existing trustees appoint any new trustees following the provisions laid out in the organisation's governing instrument. **GOVERNING INSTRUMENT** Declaration of Trust dated 2nd February 1987 as amended 16th July 1996 and 27th December, supplementary deed dated 14th October 1997. **LEGAL STATUS** Unincorporated Charity **OBJECTS** The advancement of the Christian religion and other charitable purposes. **SPECIFIC INVESTMENT POWERS** The Trustees have the power to invest in such assets as they in their absolute discretion think fit. **TRUSTEES SELECTION METHOD** The selection method is appointment by the leadership team headed by the Pastor, Neville Hollands. 3 **LIFESPRING TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022** The accounts have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) - (Charities SORP (FRS102)). ## **OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT** Door of Hope continued to support recovering addicts, resident in Hope House and elsewhere in the local area through support groups, despite the restrictions imposed by the Coronavirus regulations. Jim and Heather Herring continue to oversee the project and where practical voluntary work opportunities have been provided by Café 12, a LifeSpring Church project to serve and reach out to the local community, together with other local Christian charity projects. The trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the Trust's aims and objectives, in planning future activities, and in setting the policy's for the year. ## **REVIEW OF ACHIEVEMENTS AND PERFORMANCE** Door of Hope continues to support recovering addicts, both resident in Hope House and elsewhere in the local area and with restrictions imposed by the Coronavirus regulations lifting, these support groups are back to meeting as normal. Jim and Heather Herring continue to oversee the project and where practical voluntary work opportunities have been provided by Café 12, a LifeSpring Church project to serve and reach out to the local community, together with other local Christian charity projects. The Hope House residents are also encouraged to regularly attend LifeSpring Church and to be actively involved both in LifeGroups and volunteer for other church activities. ## **FINANCIAL REVIEW** There are no funds in deficit. The charity achieved a surplus of £11,846 income over expenditure in 2022 (surplus of £21,593 in 2021). ## **POLICIES** ## **Reserves** At the balance sheet date the Charity unrestricted free reserves totalled: £ 561,013 2021: £ 549,167 The trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily. 4 LIFESPRING TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022 PUNS FOR THÉ FUTUYtE The Trust syIII contlnue to run D¢)or of Hope, the Aèadlng ￿￿deNtIal house provldlng help and SLPPOrt for those recoverfw from drug and alcohol addlthons. Tru*t*os' r•sponslbllltles In relatlon to th• fi￿n¢la1 8tatsm•nts The trusiees are respongble for preparlng the Tru5tees' Report and the financlal statements In Jccordartt with apk41cablc law and the Vnlted Klngdom Acc(xJnbng Standard& The law ￿p￿1£able to charitles in Englané and Wales reou¢res the trLStee{$l to prepare financlal Statements for each fin8*)clal ye4r whlch glve a true and falr vlew ofthe state of Offal￿ of the charfty and or the Incomlng res0￿rteS and applicatlon of resources of the charity for that p2rlod. In p￿parfn9 these finandal staternents the trustees are requlred to.. solort sultsble accounung pollcl•É and thqn Jpply them 0)n￿sLe￿¥Y. observe the methods aThJ principle5 of the Charftles SORP- make Judgements estlmate5 thai are reasonable and prudent,. stÈte whether appllcable accountlng Standards and statements of recommended prathce have been fvllowed subject ro any departures dlsdosed and explalnetl In the finandal statements.. and p￿Pa￿ the hnandal statement5 on the golng concem bo515 unless It Is Inapproprlate to presyrne that the tharity viill wnisnue In lJus(nes Th@ tnyttp.ps arp rpgponglNÈ for rnalnt2lnlng adwuat4 acctsuh￿n9 r•cordG wh5ch dls¢lose wlth reasonable a¢curaw ot ony tlffle the flnandal posltlon of the charfty and whlch are sufflclent to show and explaSn the eharity's transortions and end￿e them to ensure that the flnanclal statements comply wth the char￿￿es Aa 2011. the Charity IAccounts and Rèports) Re9ulaUons 2008 and the prov151ons trf the trust deed. They are also re5ponslbl2 for 5afeguardlng the assets of the chartty and hencè for tsklng reasonable steps for the preventyon and detethon of fra￿ and other Irre9ulaAtle The trustees are responslble ferthe malntrnance and Integrfty of the tharY(y and finanoal Information induded on the charity. website. Leglslatlon In the Unlted KlrKJdom governlng the preparnbon and dlsseminatton of finandal #otements may dlffer from leg151aden In orher lurf5dlthon SIGNATURE AND DE£L￿TION Declaratlon: l Oeclare, In rny capadty of Chadty Trustee. that.. tht Trustees have approved the report above,. and have authorlsed me to slgn It on thèlr behalf. Slgnature: rnelius Full Mme- Mr Dovld Cornellus ## **LIFESPRING TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **For The Year Ended 31st December 2022** |Notes
**Income**
Donations and legacies
3
Income from charitable activities
4
Investment income
5
**Total income**
**Expenditure**
Expenditure on charitable activities
6
**Total expenditure**
**Net income/expenditure**
Transfers between funds
**Net movement in funds**
**Reconciliation of funds:**
Total Funds Brought Forward
**Total Funds Carried Forward**|Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2022
2021
£
£
£
£
12,196
-
12,196
17,489
68,334
-
68,334
70,895
26
-
26
1
80,556
-
80,556
88,385
68,710
-
68,710
66,792
68,710
-
68,710
66,792
11,846
-
11,846
21,593
-
-
-
-
11,846
-
11,846
21,593
549,167
-
549,167
527,574
561,013
-
561,013
549,167| |---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities. 6 LIFESPRING TRUST BALANCE SHE As At JI DEEemb8r 2022 Unrestritted Funds Restritted Funds 31-Dec-22 Total 31-De¢-21 Total Note Flxed Assets Tanglble assets Total flxed assets 14 620,956 620.956 608,522 Current Ass•ts Debtors Cash at bank and In hand Total Curnent Assets 15 Llabiliti¢8 Creditors: falllng due wlthin i year 16 13,310 13.310 12,466 Net Current As$•ts}{Liabilltles) 12,162 12.162 22.734 Total asmts l•ss currnnt Ilablllti 633.118 633,IL8 631.256 Credltors: amounts falling due aftèr more than l year 17 72,105 72,105 82.089 Net assets 561.013 561,013 549.167 Fund# of the Charlty 19 Unrestricted Income funds Re5trlcted Income funds 561.013 561,013 549.167 Totsl Charlty Funds 1.013 561,013 549,167 The notes on pages 8 tg 14 fomi part of these flnanclal statements. Approved by the Trustees on the .. Slgned on their behalf by Trustee D Comellus Prlnt Name: MR DAVID CORNEUUS ## **LIFESPRING TRUST NOTES TO THE FINANCIAL STATEMENTS** ## **1. Accounting policies** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: ## **a) Basis of preparation** The accounts have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) - (Charities SORP (FRS102)). Lifespring Trust meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes. Preparation of the accounts is on a going concern basis. The Trustees are of the view that the level of reserves will support the charity going forward. ## **b) Income** All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income, its receipt is probable and the amount can be quantified with reasonable accuracy. ## **c) Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. ## **d) Fund accounting** Unrestricted funds are available to spend on activities that further any purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **e) Expenditure** Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **f) Tangible fixed assets** Tangible fixed assets are stated at cost less depreciation. Assets costing less than £500 are written off in the year of purchase. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life as follows: Freehold property - 0% Fixtures and Fittings - 5% straight line ## **2. Legal status of the charity** The charity is an unincorporated charitable trust. 8 ## **LIFESPRING TRUST NOTES TO THE FINANCIAL STATEMENTS** ## **3. Income from donations and legacies** |**Donations**
Donations and gifts
Gift aid received
Post box
Other
Total|Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2022
2021
£
£
£
£
11,080
-
11,080
15,841
730
-
730
1,025
-
-
-
83
386
-
386
540
12,196
-
12,196
17,489| |---|---| The income from donations and gifts was £11,080 (2021 : £15,841) of which £0 was restricted (2021 : £0). The Trust did not receive any income from donated services in financial year ended 31st December 2022 (2021: £Nil). ## **4. Income from charitable activities** |Events, activities and fundraising
Door of Hope project income
Total
**5. Investment income**
Interest received
Total
The investment income arises from money held in
interest bearing deposit accounts.|Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2022
2021
£
£
£
£
7,790
-
7,790
8,100
60,544
-
60,544
62,795
68,334
-
68,334
70,895
Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2022
2021
£
£
£
£
26
-
26
1
26
-
26
1| |---|---| 9 ## **LIFESPRING TRUST NOTES TO THE FINANCIAL STATEMENTS** ## **6a. Expenditure on charitable activities** |_Direct charitable activities_
Buildings
Depreciation
Door of Hope - Salary support
9,11
Door of Hope - Other expenditure
Mortgage interest
Post Box
_Governance and Support_
Office and administration
6b
Total
**6b) Analysis of governance and support costs**
Independent examiners fees
Bank Charges|Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2022
2021
£
£
£
£
159
-
159
159
531
-
531
-
40,053
-
40,053
39,111
24,314
-
24,314
24,642
2,651
-
2,651
1,829
-
-
-
83
1,002
-
1,002
968
68,710
-
68,710
66,792
Support
Governance
Total
Basis of
Apportionment
£
£
£
-
990
990
Direct cost
12
-
12
Direct cost
12
990
1,002| |---|---| ## **7. Summary analysis of expenditure on charitable activities** This table shows the cost of the main charitable activities including support costs and grant funding to third parties. |Activity or programme
Direct charitable activities
Charitable grants
(note 12)
Governance costs
Support costs|Church activities
Grant making
Total
and community
activities
initiatives
£
£
£
68,698
-
68,698
-
-
-
990
-
990
12
-
12
69,700
-
69,700| |---|---| 10 ## **LIFESPRING TRUST NOTES TO THE FINANCIAL STATEMENTS** ## **8. Net income/(expenditure) for the year** |This is stated after charging:
Bank mortgage interest payable
Independent Examiner's remuneration
Total|Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
2022
2021
£
£
£
£
2,651
-
2,651
1,829
990
-
990
960
3,641
-
3,641
2,789| |---|---| ## **9. Analysis of staff costs, trustee remuneration and expenses and the cost of key management personnel** |Salary Support Payments to LifeSpring Church|2022
2021
£
£
40,053
39,111
40,053
39,111| |---|---| No employees received emoluments in excess of £60,000. No staff are paid on a self employed basis as at the balance sheet date (2021 : nil). The Door of Hope regular staff are paid by Lifespring Church charity and this charity sends salary support payments towards the cost. In 2022 payments totalling £40,053 were sent (2021: £39,111). ## **10. Trustee remuneration and expenses** |Number of Trustees who were paid out of income
Nature of the expenses - related party employment and expenses|2022
2021
Nil
Nil
-
-| |---|---| |Total amount paid
£|-
-| No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them. The total amount donated as unconditional donations by Trustees and Related Parties to the charity during this financial year was £600 (2021: £600). ## **11. Donated Services** On the 1st November 2012 all activities from Lifespring Trust started to be transferred to Lifespring Church (registered charity number 1148013). In 2013 the first transfer comprised the newly purchased property asset 'The Pavilion', Reading. In 2014 all other activity bar that of the project 'Door of Hope', was transferred. In this financial year the following transactions between the two entities have been recorded: |LifeSpring Trust salary support payments
**Donated Services - Paid**|40,052
-£
40,052
-£| |---|---| There were no outstanding balances with related parties as at 31 December 2022. 11 ## **LIFESPRING TRUST NOTES TO THE FINANCIAL STATEMENTS** ## **12. Grants** The charity makes small gifts but does not grant fund activities (2021: nil). ## **13. Corporation tax** The charity is exempt from tax on income and gains falling within section 505 of the taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. ## **14. Tangible fixed assets** |Cost:
As at 1st January 2022
Additions
Disposals
As at 31 December 2022
Depreciation:
As at 1st January 2022
Charge for the year
Disposals
As at 31 December 2022
Net book value:
As at 1st January 2022
As at 31 December 2022|Land &
Fixtures and
Buildings
Fittings
Total
Title:BK400830
£
£
£
608,522
-
608,522
-
12,965
12,965
-
-
-
608,522
12,965
621,487
-
-
-
-
531
531
-
-
-
-
531
531
608,522
-
608,522
608,522
12,434
620,956| |---|---| ## **15. Debtors & prepayments** The charity did not have any debtors or prepayments at 31st December 2022 or 31st December 2021. ## **16. Creditors: amounts falling due within 1 year** |Independent Examiners Fees
Mortgages|31.12.2022
31.12.2021
£
£
990
960
12,320
11,506
13,310
12,466| |---|---| The charity has one mortgage in place at 31st December 2022: A first mortgage is provided by HSBC Bank plc on the freehold property, 140 Tilehurst Road, Reading. The original £140,000 draw down was on 6th October 2005. Additional draw downs totalling £110,000 were taken in 2005 and 2006. The mortgage was taken out to purchase a larger property for the Door of Hope project and to complete extension works to this new property. At 31st December 2022 the balance outstanding was £84,425. 12 ## **LIFESPRING TRUST NOTES TO THE FINANCIAL STATEMENTS** ## **17. Creditors: amounts falling due in more than 1 year** |Mortgages|31.12.2022
31.12.2021
£
£
72,105
82,089
72,105
82,089| |---|---| ## **18. Analysis of charitable funds** ## **Analysis of movements in unrestricted funds:** ## **General fund** The free reserves of the charity after allowing for all designated funds. |Balance at 1st January
Income
Expenditure
Transfers between funds
Movement in funds
Total general reserves at 31st December|**2022**
**2021**
549,167
527,574
80,556
88,302
(68,710)
(66,709)
-
-
11,846
21,593
561,013
£
549,167
£| |---|---| ## **Analysis of movements in restricted funds:** ## **Special Collections** The special collections fund tracks one-off giving for restricted purposes and the corresponding expenditure by the charity. Full details are recorded for each within the charity records and bookkeeping. |Balance at 1st January
Income
Expenditure
Transfers between funds
Movement in funds
Balance as at 31st December|**2022**
**2021**
-
-
-
-
-
-
-
-
-
-
£
-
£| |---|---| ## **Post Box fund** This is a holding account for making transfers between funds. |Balance at 1st January
Income
Expenditure
Transfers between funds
Movement in funds
Balance as at 31st December|**2022**
**2021**
-
-
-
83
-
(83)
-
-
-
-
-
£
-
£| |---|---| 13 ## **LIFESPRING TRUST NOTES TO THE FINANCIAL STATEMENTS** ## **19. Analysis of net assets between funds** |Fixed assets:
Net current assets:
General
Special Collections
Post Box fund
Long term liabilities:|General
Designated
Restricted
TOTAL
Fund
Reserves
Reserves
31.12.2022
£
£
£
£
620,956
-
-
620,956
12,162
-
-
12,162
-
-
-
-
-
-
-
-
(72,105)
-
-
(72,105)
561,013
-
-
561,013| |---|---| 14 ## **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS** I report to the trustees on my examination of the accounts of Lifespring Trust for the year ended 31st December 2022. As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). ## **Responsibilties and basis of report** I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or · the accounts did not accord with the accounting records; or · the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Name: J Irvinesmith FCIE Date: .............................4th September 2023 Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF 15