ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 LIFESPRING TRUST CHARITY REGISTRATION No.. 296276 Independent Exarninet5 Ltd Unit 2 The Broadbridgc Bu51ne55 Centro Dclling Lane Bosham Wost Susse P018 8NF LIFESPRTNG TRUST CONTeNT5 Pa9cs 3 to 5 Report of the Trustees for the Year Ended 3 1 December 2023 Page 6 StatEnent of Financlal Artivities Page 7 Balance Sheet Pages B to 14 Note5 to tho Financial Statements Page 15 Indepcndont ExaFniner's Report to the Trustees LtFESPRING TRUST REPORT OF THE TRUSTEES FOR THe YEAR ENDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE INFORMATION CHARITY NUMBER 296276 OTHER NAM.E LifeSpring Church START OF FINANCIAL YEAR Ist January 2023 END OF FINANCIAL YEAR 315t Decembor 2023 TRUSTEES AT 31ST DECEMBER 2023 Mr Luke Ellis Mrs Catherine Peir Mr David Cornelius Ms Elizabeth Mong¢r Mr Olusyascgun OIoJD-Kosoko PFUNCIPLE ADDRESS 143-145 Oxford RDad Reading, RGI 7UY. PRIMARY BANKER5 M5BL 26-28 Broad Stoet Reading1 RGI 2SU. SOLICITORS H¢w¢tts 55157 London street Reading, RGI 4P5. ACCOUNTANTS Independent Exarniners Ltd Unit 2 The Braadbrid9e Business Centre Delling thne, Bo£ham Vlest sussex P018 ¥NF STRLICTURE, GOVERNANCE AND MANAGEMENT The Èx15ting trustoes appoint any new trustees following the provisions laid out in the organi5ation'5 governin9 instrument. GOVERNING INSTRVMENT Declaration of Trust dated 2nd February 1987 as ainendcd 16th July 1996 and 27th December, supplefflentary deed dated 14th Ortober 1997. LEGAL STATUS Unincorporated Charity OBJECTS Tho advancement of the Chr15tiafi religion and other charitable purposes. SPECIFIC INVESTMÈNT POWERS The Trustees have the PDwer to invest In such assets as they in their absolutE discretion think fit. TRUSFEE5 SELECTION METHOD The S￿lection method is appointment by the leadership toaTn headed by the Pastor. Neville HDlland5. LIFESPRING TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The £ccouTrts have been PFeparcd In accordaTrie ￿1th the Financial Reporting Standard appllcablè In the UK and Republic of Ireland IFR51021 Icffective I I£TrLJary 20191- Ichiritie5 SORP fFRS10211. OBJECTIVES AND ACTIVITIES FOR THE PIJtsLIC BENEFIT The charitable objects as ¢gistered Yéith the Charity Cotnmisison arc the advancement of the Christian Religion and other charitable D￿rpoSeS. Door of Hope CDntinued to support recovorillg addicts, rc51dent In Hope House and elsewhere in the loc41 area through support gmup5. The trustees confirtn that Ihey havc referrèd to the Charity Cornm155iOn'5 guidance OTr public benefit when reviewing the Tru5t'5 aims and objectivcs, In planning fvture artivilies, and in 5ctting the policy'5 for the year. REVIEW OF ACHIEVEMENTS AND PERFORMANCE oor of Hope contin￿eS to support recoverino addicts, both re51dent in Hope Mouse and elsewhere In the local are8, with Jim and Heather Herring continuing to ovetsee the proiect. Where practical, voluntary Work Opport￿nItIeS have been provided by Cafe 12, a LifeSprin9 Church proiert to seroe and reach out LO the local coinmunity, together with other IDcal Christian charity proiects. The Hope House re51dent5 are also eniouTrged to regulady attend Lifespring Church and tD be artively involved both In LifcGroups and volunteer for other church attivities. FINANCIAL REVIEW There are no funds in deficit. The Trustees report a deficit of £8,521 Incorne over expenditure In 2023 Isurplvs of £11,846 In 20221. POLICIES Reserves Free Resepdc5 Total Reserves At thE balanoc sheet date ttte Charlty unrestritted rp.sp.rves totallcd.- 2,306 12,162 552,492 561,013 2022.. Free Reserves are represented by unrestricted net current assets. The trustees have conSide￿d the Icvel of reserves rhey wlsh to retain, appropriate to the chtrity's needs. This 15 baged Dn the chariry's Si2e and the level of financial commitfftcnt5 held. The trustees airn to onsure the charity will be 8Lile to oontiDue io fulfil its charitablo obJective5 even if thero 15 a temporary shortfall In Income or unoxpetted expendituffj. The trLlStees will endeavour not tu Set aside funds unneccssarily. LIFESPRING TRVST REPORT OF THE TRUSTEES FOR TFIE YEAR ENDED 31 DECEMBER 2D23 PLANS FOR TTrIE FUTURE The Trust will contiTruc to njn Door Df Hope, the Reading residential house providing help and support for those retovering from drug and alcohol addirtion5. Trustees, responsibilit1¢5 in ielation to the financial statements The trJsteE5 are responsible for prcparing the Tru5tees' Repott and the financial statements In accordance with applicable law and the Unitod Kingdom Accounting Standards. The law applicable to charities in England and Wales require5 the trusleels j to prepare financial statements for each financial ycar which give a true and fair view of the state of affairs Df the charity and of the incoming re50urces and application of resource5 of rhe charity for that poriod. preparino these financial 5tateiMents tho trustees 8ro req￿rred to-. 5elcct 5Ultable accounting policies and then apply them consistently,. observe Ihe methDd5 and principles of the Charitie5 50RP', makc judgements and e5timateg that arc reastsnablo and prudent-, state ¥vhether applicable accounting standards 2nd statemonts of recommended practice have been followed subjett to any departure5 disclosed and explaiiied the financial 5tatements'. 2nd prepare the Financial staternentS the qoing ioncern basis unle55 It Is inappropriate to preS￿me thèt the charity will continue In tyusines5. The InJstees are ro5ponsible for maintaining adequatc accounting records w'hich disclose with rcasonable Occuracy at any time the financial p051tlOn Df the charity and which are sufficient to shoiv and explain Ihe charity's transactions and enable them to ens￿re thèt the financial statement5 comply 4Ylth the Charitie5 Art 2011, the Charity IAccouDts and Reports) Regulations 2008 and che provisions of the trust deed They arp also responsible for safeguarding the assets of the charify and hence for taking reasonable step5 for the prevèntion and detertion of fraud and other Ir￿gUlarItieS. The trustees are responsiblc for the maintenance and Intogrity of the charity financial Iriformation lytluded or¥ the tharity's website. Legislation In the United KingdoTll governing the proparat10n and disspmination of financial ststetnents m3y differ from legislat10n in other jurisdiction5. SIGNATURE AND DECLARATION Declaration: J declare, in my capacity of Charity Trustoe, that-. the Tru5tee5 hawe approved the report above," a.Id have authorised me to sign it on their behalf. Sigrbature.. Full name - Mr David Cornelius Date 24109124 LIFESPRING TRUST STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 31st Deeember 2023 Unrestricted Funds Rostricted Funds TOTAL 2023 TOTAL 2022 Notes Incorne Donation5 and legacie5 12.31ts 36 12.346 12,196 Income from charitable aLtivities 78,555 78,555 68,334 Investment Income 188 188 26 Total income Expenditure ExpenditurE on ch3ritable activities 99,574 36 99,610 68,710 Total expellditure 36 Net incomelexpenditure Tr8nsfer5 between funds Net movement in funds (8,J2 1) 18,5211 11.846 18,521} 18,5211 11,846 Reconciliation of fund5'. Total F￿ndS Brouoht Forward 561,013 561,013 549,167 Total Funds Carried Forward 552 4Q2 The staternont Df finantial a¢tivitie5 Includes all gains and 1055Q5 recognised In Ihe year. All IncorTre and expenditure dorlves frotn continuing activities, LIFESPRING TRUST BALANCE SHEET As At 31 December 2023 Unrestncted Funds Restricted Funds 31-Dec-23 Total 31-Dec-22 Total Note Fixed Assets Tangible assets Total fixed assets J4 620,308 620,308 620,956 urrent Assets Debto sh at bank 8nd In hand Total Current A55etS J5 Creditors.. falling duc within l year 16 1,200 1,200 13,310 Net Curtrent AssetsllLiabtlitiesl 2,306 2,306 l?.,L62 Total assets less cthrrent liabilities 622.614 622,614 633,11 Credi-0￿.. amounts falling due after fflore than l ypar 17 10,122 7Q,122 72,105 Net assets 2.492 561 U13 Fund5 of the Chatity 19 Unresrrirted iTrtome f￿ndS Restricted income funds 552,492 552,492 561,013 Total Charity Funds 52 492 552.492 Thc Trotes on page5 8 to 14 form part of these financial statements. Approved bv tho Trustees on the 241Cg.,24 Signed on their behalf by Tr￿stee o comElbu5 Print NaFne'. MR DAVID CORNELIUS UFESPRING TRUST NOTES TO THE FINANCIAL STATEMENTS l. Accounting policies The principal accounting policies adopted, Judgements koy Sources Df estimation uncertainty In the prepa￿tIOn of the financial statements are a5 ffollows-. a) Basis of preparation Thc accounts have been prepared in accordance vwith the Financial Reporting Standard applicable In the UK and Republic of freland i FRS1021 lefffective l Janudry 20191- ICharitlQ5 SORP iFR510211. Lifcspring Church meet5 the definitioD of a public benefit entity under FR5102. Assets aod liabilities are Initially recoqnised at historical cost unle%% c)ther￿Sse slated in the relevailt accounting policy notCS. Prcpar8tion of thc accounts 15 Dn a going concern basis The Trustees arc of the view that the level of reseNes will support the charity ooing forward. bl IM¢ome A15 Incoming rc50urce5 are Included on the Statement of Financial Artivitie5 when the charity Is legally entitled to the IfEcome, its ￿￿1pt Is probèble and Ihe amount can be quaDtified With re￿Onable accurocy. ¢} Interest receivable Interest on funds held on deposit 15 Included when rÈceivable and the affiount can be moa5ured reliably by the ch8rity,' th15 is normally notification of the Intercst paid or payable by the Bank. dl Fund accouvtlng Unrestricted funijs dre available to spend on activitie5 thai further any purposes Df tho charity. Do51gnated Fundg are uiresiricted funds of the charity which thc trusteos have dccided at their distretion to set aside to use for a 5pccific purpose. Restricted funds are donations Ivhich the donDr has Specified aro to be solely used for particular reas Df the charity'5 work or for sperific projects being uDdcrtaken by the charity. Further explanation of the nature purpose of each fund is Included In tho notes to the financial 5tatcments. e) Expenditure Expenditure Is aLcounLed fvr on an accwals ba515 and has been classified under headings that aggregate all cost related to the category. Ivhere costs cannot be dircrtly attributed to particular heading5 they have been ￿lloCated to artivitieg on a ba515 COnSlStent with the usc of resourcos. Grants offered S￿bJett tu cofjditions which have not been met at the yEar end dato are noted a5 a iornmitmenr but not accrued ag expenditure, f) Tangible fixed a55ets Tangible fixed assot5 are stated at cost IE55 depreciation. Asscts oosting less than £500 are Written off in the year uf purchase. Depreciation Is provided at the following annual rates in order to write orf each asset over its estimètpd useful life as follovés.. Frechold property JDIO Fixtures and Fitting5 5¥0 Straight 2. Legal status of the charity The charity is èn unincorporated charitable trust. LIFESPFUNG TRUST NOTES TO THE FINANCIAL STATEMENTS 3. Income from donations and le94cles Unre5trirt¢d Funds Restricted Funds Donations TOTAL 2023 TOTAL 2022 Donations and gifts Gift aid reccived P05t box other 10,950 217 10,950 217 36 1, 143 11.080 730 36 1,143 386 Total 12.310 The income fro￿ donations and oifts was £10,950 12022 . £1 L,OBOI of which £0 wag restricted 12022 £01. The Trust did not receivo any incoffle from dDnated 5ervice5 ITr finantial year ended 3 1st December 2023 12022-. 4. InconTe f.rom (hèritable activities Unrc5trirtod Funds Restrirted Funds TOTAL 2023 TOTAL 2022 Events, activitie5 and fundraising Door of Hope project Income 5,950 72,605 5.950 72,605 7,790 60,544 rotal 5. Investment income Unrestricted Fund£ Restrictod Funds TOTAL 2023 TOTAL 2022 Interest received The inve5ttnent Income ari5e5 from money held In IntEfE5t bearing deposlt accounts. 188 188 26 188 LIFESPRING TRUST NOTES TO TPIE FINANCIAL STATEMENTS 6a. Expenditure charitable activitie5 Unrestritrd Funds Rc5tricted Funds TOTAL 2023 TOTAL 2022 Direci ch3ritablE attivities 159 648 41,499 19,107 35,396 1,521 159 648 41,499 19,107 35,396 1.521 36 159 531 40,053 Door of Hope 531ary support Door of Hope Cift to Lifespring Church Door of Hope Other running costs exponditure Mortgaoe Interest Post Box 9,11 24,314 2,651 36 Governance an£1 support OFffice and administration 6b 1,244 1,244 1,002 36 6bl Analysts of governance and support costs Support Governance 'rotal Basis of Apportionment Independent examine￿ fees Bank Charyes 1,20( 1,200 44 DIre￿ cost Direct cos¢ 7. 5urnmary analysis Qf expenditure on charitable actlvbties This table 5how5 the cost of the rnain charitable activities iDcluding suppvrt cost5 and grant Funding to third partie5. Activity or programme Church aciivities Grant m3king and community Diort charitable actlvities Charitable qrants Governèllce costs Support costs q9.566 99,566 Inote 12} 1,200 L,201Y io LIFESPFUNG TRUST NOTE5 TO THE FINANCIAL STATEMENTS 8. Net income/lexpenditure} for the year Unrestricted Funds Restricted Funds TOTAL 2023 This IS Stated after charging.. TOTAL 2022 Bank mortgage Interest payable Ifidependent Examiller's remuneration 1,521 1,20Q 2,651 990 1,200 Total 9. Analysis of Staff costs, trustee remuneration and expenses and the tost of key rnanagemènt personnel 2023 2022 53lary Support Paytnonts to LifeSpFing Church 41.499 40,053 No employees reieivod emoluments in excess of E60,000. No staff are paid on a self employed ba51S a5 at the balance Sheet date 12022 The Door of Hope regular staff are paid by Lifc5pring ch￿rCh charity and this charity sends galary 5UPPOrt payments tow3rds the cost. In 2023 payments totalling 141,499 were Sent 12022.- £40,052). 10. Trustee rÈrnunerBtion and expenses 2023 2022 Number of Trustee5 who were paid our of Income Nalurc of the expenses rclated Pclrty employment and cxppnse5 Total afflount paid No payments wcro made to trustees or any pe￿0￿5 CDnnected with thom during thi5 financial periDd. No matori&l transaction took plaie between the organisation and a trustee or any person connected with them. The total amount donated as uncondition81 donations by Trustees and Rclated Parties to the charity during this financial year WAS £500 12D22-. £6001. 11. Donated Servtces On the 1st Novcrnber 2012 all activities from Lifespring Trust 5tsrted to be transferrod to Lifespring Church (registered charity number 11480131. In 201.2 the first t￿nsfer comprised the newly purEha5ed property asset The Pavilion., Roading. In 2014 all other ctivity bar that Df the project 'Door of Hopo,, wa5 transferred. In this fiDancial year the following traD5attions between the two entitics have been recorded.. Lifespring Trust paid salary 5UPPOrt payrnents to Life5pring Church Lifespring Trust giftcd to Lift5pring Church Donated Setvices- Paid -£ 41,499 -É 19 107 Thero wcre no outstanding baldnCCS Vélth relate¢ parties as at 31 Decembcr 2023. LIFESPRING TRUST NOTES TO THE FINANCIAL STATEMENTS 12. Grants ThÈ charity makes srnall gifts but does nDt grant fund attivities 12022.. Tr111- 13. Corporation tax rhc charity is exempt Irom tax on Income aFid gains falllng within Section 505 of the taxe5 Art 1988 or section 252 of the Taxarion of Chargeable Gain5 Act L992 to tho extent that these are applied to Its Iharitable objects. 14. Tarbgible fixed assets Land & rixtures and Fittin95 Tot•1 Title. BK400830 Cost.. A5 at 1st January 2023 dditiDns 608,522 12,965 621,487 As at 31 December ?023 606,522 12,965 621.487 Dcprecialion. A5 at 1st January 2023 Charge for the year S31 648 531 648 AS 3t 31 December 2023 1,179 1,179 Net book value.. at L5t January 2023 A5 at 31 Dccernber 2022 608 522 15. Debtors & prepayments Tho charity did not have any dcbtor5 or prepaymtrtts at 31st DecembEr 2023 or 31st December 20?.2. 31.12.2023 31.12.2022 Tax recovcrable Other charity debtors 16. Creditor5: amounts falling due within I year 31.12.2023 31.12.2022 Independent l.Xarnine￿ Fpes Mort9a9QS 1,200 990 12,32 The charity has no mortgage In place at 31st Deiember 2023.. A first mort e provided by HSBC Bank plc DD thc freehold prDperty, i40 nlehutst Road, Read1ng. The original £140,000 draw down ￿'aS on 6th October 2005. Additional draK' dDWnS toialling £IIO,OOQ were t8kÈn In 2D05 and 2006. The mDrtgage was taken Dut to purchagè a larger property for the Door of Hopc project and to complete extension ￿orkS to this new property, At 3LSt Decenber 2022 the balance outstandiTro was E84,425. Th15 fflOrtgBge was redeemcd In March 2023 by way of a loan from Life5pring Church to Lifespring Trust. The loan repayment tertns are El,431.08 x 56 mDnths ar.d a final payrnent of El,430.83. Lifcspring Trust reptid 111,448.64 dunng 2023, resulting in the amount owing to Lifespring Church a5 at 31st Jecetnber 2023 as £70,122. 12 LIFESPRING TRLIST NOTE5 TO THE FINANCIAL STATEMENTS 17. Creditors.. amounts falling due in more than I year 31.12.2023 31.12.2022 Loan',rom Lifespring Church MDrtgage5 ?0,122 72,105 The loan ffoffl Lifespring Church was oiven vnseEiJred and Intercst free. It Is b¢ing ropaid at a rato of 11,431 PEr month for 57 tnonth5 Starting In Nay 2023. IB. Analysis of charitable funds A Thalysis of mDvements in untestrirted funds.. General fund Tho free reserves of the charity ater allowino for all designated funds. 2023 2022 Balanc￿ at 1st lanuary Income Expepditurc Transffc￿ betw￿en funds fr1ovement In fund5 561,013 91,053 199,5741 549, 167 80,55D 68,7101 18,5211 11,846 Total general reserves at 3 1st December Analysis of movements in restricted funds.. Special Collections The special collectlDns fund tracks one-off giving for re5trioted purp05os and the CO￿eSpOnding expenditure by the charity. Full dotai15 are recorded for each withiD the charity recDrd5 bookkeeping. 2023 2022 Balance at 1st January Income Exponditure Tran5fEr5 botween funds Movcnent In funds Balance as at 31st Decernber Post Box fund This Is a holding account for making transfers betweon funds. 2023 2022 84lance at 1st January Income Exponditure T￿nsfer5 betw2on fJTrds Movetnent in funds 8alanco as at 31st December LIFESPFUNG TRUST NOTES TO THE FINANCIAL STATEMENTS 19. Analysis of net assets between funds General Fund Des19nated Restricted Reserves Re5errfes TOTAL 31.12.2023 Fixed assets.. Not current assets.. Goneral Spocial Collections Post Box fund Long :erm liabilities.. 620,308 620,308 2,306 2,306 170,122) 170, 1221 552 492 20. Non-Adjusting post balanee Sheet event During 2023, the Trustees agreed that tho assets and attivity of Life5pring Trust byDuld be transferrcd 10 LifespriTrg Church Icharity number 11480131. Due to legal formalitlC5, a5 at the date of signing thcse financial st8tement5, the transfer has not yet been finalised. 14 INDEPENDENT EXAMINER'S REPORT ON THE ACCQUNTS report to the trustees on my examinatlDn of the 3ccount5 of Lifespring Trust for the year ended 31st Decornber ?023. As thc charlty'5 trustees, you are respon51ble for the preparation ol the accounts in accordance Nvith the rEquirement5 of the Charitie5 Act 20 J I I'the Act"). Re5ponsibiltie5 and basss of report report in ￿spCct Df my exarninaLion of the Trust's accounrs carried out undcr section 145 of the ?011 In tarrying out my examination, I have followed 311 the applicable Dirertions given by the Charity Commission under stction 145lSllbl of the Act. Independent examiner's statement I have cornpleted my examin3tiDD. confirm that no rnate."ial rnatter5 have come to tny attention n connettion with the examination which gives me cause to beliove that in, any materi41 respett-. the accounting records were not kepl in accordance with sectlDn 130 of the Charities Att,. or the accounts did not accord iyith the accounting records.. or the accounts diG not comply '￿1th the applicaLile rcquircments concerning the form and CDntent of account5 Set out In the Chanties IAccouiliS and Reportsi Regulations 2008 Dthor than any roquirement that the accounts give 8 'true and fair, view whiih 15 Dot a matter cDnsidered as part of an Indepcndent elarninativn. I have Tro concerns and have come across no other matters in connectioTr with the examination to which attention Should be in this report In order to en&blE a proper undorstandin9 of the accounts to be rcachcd. Name.. Date". Independent Exarnifie￿ Ltd Unit 2 The Broadbridge Business Centrc Dclling Lane B05ha West Sussex P018 BNF