LIFEWAY CHURCH
A Christian Church, operating through rented premises, employing a pastor and his wife. We organise meetings, including those for youth and outreach. We also give to the poor.
Objects
(1) THE CHARITYÆS OBJECTS (ÔOBJECTSÖ) ARE SPECIFICALLY RESTRICTED TO THE FOLLOWING:(A) TO ADVANCE THE CHRISTIAN FAITH IN ACCORDANCE WITH THE ARTICLES OF FAITH APPEARING IN THE SCHEDULE TO THIS CONSTITUTION FOR THE BENEFIT OF THE PUBLIC IN BOLTON AND IN SUCH OTHER PARTS OF THE UNITED KINGDOM OR THE WORLD AS THE TRUSTEES MAY FROM TIME TO TIME THINK FIT;(B) TO ADVANCE THE EDUCATION OF THE PUBLIC IN THE CHRISTIAN FAITH IN BOLTON AND IN SUCH OTHER PARTS OF THE UNITED KINGDOM OR THE WORLD AS THE TRUSTEES MAY FROM TIME TO TIME THINK FIT;(C) TO RELIEVE PERSONS WHO ARE IN CONDITIONS OF NEED OR FINANCIAL HARDSHIP OR WHO ARE SICK OR IN NEED AND TO RELIEVE THE DISTRESS CAUSED THEREBY IN BOLTON AND IN SUCH OTHER PARTS OF THE UNITED KINGDOM OR THE WORLD AS THE TRUSTEES MAY FROM TIME TO TIME THINK FIT;(D) TO PROMOTE AND FULFIL SUCH OTHER CHARITABLE PURPOSES BENEFICIAL TO THE COMMUNITY IN BOLTON AND IN SUCH OTHER PARTS OF THE UNITED KINGDOM OR THE WORLD AS THE TRUSTEES MAY FROM TIME TO TIME THINK FIT.
Financial health, per its FY2025 accounts
The accounts state that the charity reported a net expenditure of £6,735 for the year, resulting in a decrease in total net assets from £97,791 to £91,056. The trustees maintain a reserves policy targeting three months of salary and working capital, with unrestricted funds held at £71,837. The independent examiner confirmed that no material matters were identified during the examination of the financial statements.
What the accounts disclose
“The charity seeks to maintain adequate unrestricted funds to cover: • Working capital for 'ebbs and flows' of at least £500 • Three months salary • Savings towards a future building purchase” — page 4
“Trustee loan of £301 payable to Mike Aldaco” — page 16
Policies the charity declares
- Conflicting interests
- Financial reserves policy and procedures
- Paying staff
- Risk management
- Safeguarding policy and procedures
- Safeguarding vulnerable beneficiaries
Trustees
- Pastor MICHAEL ALDACOchair
- CONSTANT ANASET PGDT PGCE
- Jude Michael Aldaco
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 28/02/2025 | £52k | £59k |
| 29/02/2024 | £74k | £60k |
| 28/02/2023 | £92k | £56k |
| 28/02/2022 | £49k | £39k |
| 28/02/2021 | £49k | £31k |
Common questions
Is LIFEWAY CHURCH financially healthy?
Per its FY2025 accounts: The accounts state that the charity reported a net expenditure of £6,735 for the year, resulting in a decrease in total net assets from £97,791 to £91,056. The trustees maintain a reserves policy targeting three months of salary and working capital, with unrestricted funds held at £71,837. The independent examiner confirmed that no material matters were identified during the examination of the financial statements. Its FY2025 accounts were independently examined.