Registered Charity number 1038650 INTERNATIONAL MINISTRIES FOR THE LIVING WORD TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2 Chapel Place 6 White Hart Lane London N17 8DP 0208 88017885 ordtem aol.com Tel: Email: Livin
INTERNATIONAL MINISTRIES FOR THE LIVING WORD YEAR ENDED 31 MARCH 2024 Page Contents Administrative information Trustees and Object of the Charity Report of the trustees Independent examiner's report to Trustees Statement of Financial Activities Balance Sheet Notes Formin8 part of the Financial statements 10.-15 page I 1038650
INTERNATIONAL MINISTRIES FOR THE LIVING WORD LEGAL AND ADMINISTRATIVE INFORMATION AS AT 31 MARCH 2024 Principal aims The object of the charity 15 to advance Christian religion in UK and overseas by spreading the word of the gospel. The charity is staffed by one full time administrator and is assisted by one volunteer , administrative secretary, supported by 5 volunteers as pastors. Status of the Charity The Organisation was registered as a charity, no 1038650 in June 1994 ORGANISATIONAL STRUCTURE The Charity's activities are carried out by I staff and 6 volunteers. It rs managed and controlled by the Trustees through a management committee. TRUSTEES The Trustees who held office during the year were as follows: Sam Asi Bothwell Nyemba Virgo Kasozi Batende Gifty Buachie Brenda Mwangi Chairperson Secretary Treasurer Member Member Trustees are elected by the member of the Charity at the Annual General Meeting. Principal Address 2 Chapel Place 6 White Hart Lane London N17 8DP Independent ExamÉner Patrick J Izebhor 13 Chelsfield Avenue London N9 8EY BANKERS HSBC Bank PLC Tottenham High Road 448 High Road London N17 9JN Page 2 1038650
INTERNATIONAL MINISTRIES FOR THE LIVING WORD Annual Report for the year ended 31 March 2024 The International Min istries for the Living Word is constituted by Deed of Trust and is registered Charity, no 1038650. Its address is at 2 Chapel Place, 6 White Hart Lane London N17 8DR. The charity trustees during the year to 31 March 2024 were= Sam Asi Bothwell Nyemba Virgo Kasozi Batende Gifty Buachie Brenda Mwangi Chairperson Secretary Treasurer Member Member Appointments and resignations: New trustees are appointed by the board of trustees for renewable terms of 2 years. THE TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Charity is depending mostly on tithes and offering contributed by local church members to help pay for workers and the mission works in East Africa. Uganda, Zambia, Rwanda, and in United Kingdom" In West AfrÉca; Ghana (Accra and Kumasi) and in Europe. See Trustees, brief report for the year below The trustees present their report along side with the financial statement of the charity for the year ended 31 March 2024. The financial statement has been prepared in accordance with the accounting principles set on page 10 and 11 The trustees, names on page 3 served through out the year being reported. Appointment of trustees is govemed by the trust deed of the charity. During the financial year the charity funded East, Central, West and South Africa, Europe and England's advancement of the Gospel of peace in the countries mentioned above. page 3 1038650
London UK During the financial year, the charity refurbished the roof of unit 3 which was leaking. Extensive programmes were carried out to pursue EMPOWERING TOMORROW LEADERSTODAY agenda. Many within the local community signed for the programme and we have a successful year. We had some mentors and counsellors from the community who volunteered to carry out the programmes. During the summer 105 people in the church and their familie5/friends were sponsored by the charity to one- day social outing to South Fnd On Sea. The charity also ran health and women empowerment conference. We held youth and leaders retreat at Ashburnham Prayer Place. Quarterly church workers workshop was carried out. Women, men, children /youth days was celebrated. The church evangelism and intercessory team embarked on evangelism and 8 new converts accepted Jesus Christ and became certificate members. The church sent one leader to hold International Living Word African church in Ghana where members/ leaders from Zambia, Uganda and Rwanda attended. The charity also invested in the choir ministry and new musical instruments were bought. Ghana The charity continued to sponsor The Girl Child Education programme at our Glorious Living Word International School at Beposo in the Ashanti Region of Ghana. The charity donated toys, used clothes, nursery books, sanitary pads, disposable razors, body sprays, speakers, and other health products to the school. Maintenance and fencing works was carried out in the school. Pipeline work was carried out to extend water supply to the school from Ghana water company and 2,1000 litre poly tank was purchased to store water. The charity also sponsored the students to participate in Ghana's 66 Independence parade at Sekyere Central District and our school cadet was judged the best cadet and won a trophy. The Ghana church also host The International Living Word African churches conference. 23 students sat for (BECE)Basic Education Certificate Examination and we had 100 percent passed. The mission Director spent six months in Ghana to th Page 4 1038650
oversee the running and the administrations of the school and the African churches. Zambia The charity continued to sponsor the community farm project to grow potatoes, soya beans, butternuts, maize, watermelon and other seasonal vegetables to finance the orphanage and the local churches. Maintenance work and cleaning was carried out on the farm sun venter solar panels and the submersible pump which empowers the borehole for irrigation. Rwanda The charity sponsored the Rwandan churches with their church rents, maintenance works and evangelism. U anda The charity continued to support the local churches with their rents and utility bills. 2 orphans were supported with their tuition fees by 2 individual church members from Living Word Temple-London Page 5 1038650
CONCLUSION: A special thanks for the fund we received through the Gift Aids from Inland Revenue to support mission works. With such fund continuing to come in, the charity would Gontinue to recruit, develop and appoint mtssion staff in Africa and continue the advancement in the Gospel, by training leaders and sending missionaries abroad and providing enhanced transportation facilities and educational projects for Africa mission. INTERNATIONAL MINISTRIES FOR THE LIVING WORD 31 March 2024 Unspent income at 31 March 2024 is £106272.00 and 2023 was £108208.00 The trustee estimated the value of assets held overseas £80,345 Signed Date 01 October 2024 M5 Virgo Kasozi-Batende page 6 1038650
Independent Examinerfs report to the Trustees of International Ministries of the Living Word (IMLW). I report on the accounts of the organisation for the year ended 31 March 2024 which are set out on pages 9 to 15 Respective responsibilities of trustees and independent examiner: The charity's trustees are responsible for the preparation of the accounts. The charit5ls trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charity Acl) and that an independenl examination is needed. It is my responsibility to: 1. Examine the accounts under section 145 of the Charity Act, 2. To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145 (5)(b) of the Charity Act), and 3. To state whether particular matters have come to my attention. Basis of independent examiner's report= My examtnation was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seektng examinations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair,. view and the report is limited to those matters set out in the statement below. Independent examiner's statement: In connection with my examination, no matter has come to my attention" (a) which gives me reasonable Gause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the Charity Act. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charity Act have not been met. or (b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the aGcounts to be reached. Joseph Izebhor FMAAT, ACIS & MCIM Accountants and Tax Advisers 13 Chelsfield Ave London N9 8EY Signed by:.... Date: 02 October 2024 page 7 1038650
INTERNATIONAL MINISTRIES FOR THE LIVING WORD STATEMENT OF FINANCIALAcfiviTIES FOR THE YEAR TO 31 MARCH 2024 NOTE Un restricted Restricted 31.3.2024 31.3.2023 INCOME AND EXPENDITURE Incoming Resources Gift Aids 21,879 109,952 21,879 109,952 21,531 107,793 116 Tithes & offering Other 131,832 131,832 129,439 less: RESOURCES EXPENDED Children camping /events Bereavement Office Expenses/books S 3 Sundry expenses S4 Rent/service charge Fire protection Mission work overseas S 5 Legal and professional S 6 Sage software Salary & HMRC Depreciation Electricity bill Guest Preachers Feeding community needing Social aids Total resources expended 1,306 130 1,306 130 140 37,134 5,785 28,800 228 37,134 5,785 28,800 228 32,376 10,363 30,356 287.92 26,320 4,233 284 26,320 4,233 284 13,332 3,930 205 25,294 1,033 1,551 1,670 25,294 1,033 1,551 1,670.00 31,445 799 315 I,Iso 1,197 125,896 133,768 133,768 Net (outgoing)/incoming -1,936 -1,936 3,543 Transfers Net (outgoing)/incomin8 Resources after Transfers -1,936 -1,936 3,543 Total Funds at start of year 105,298 2,910 108,208 104,665 Total Funds at end of year 103,362 2,910 106,272 108,208 Page 8 1038650
INTERNATIONAL MINISTRIES FOR THE LIVING WORD BALANCE SHEET AT 31 MARCH 2024 31_3.2024 31.3.2023 Notes unrestritted restricted tot31 total FIXED ASSETS Fixed Assets B2 4,130 4,130 3,196 CURRENT ASSETS Cash in Hand and Bank Investment Gift Akds Pan African Radio Project Total assets 7.118 77,018 5,500 13,460 107,226 7,118 79,928 5,500 13,460 110,136 10,038 79,928 5,500 13,460 112,122 2,910 2,910 CURRENT LIABILITIES PAYABLE WITHIN ONE YEAR Sundry Creditors B5 -3,864 -3,864 -3,914 LIABILITIES OVER ONE YEAR Net Assets 103,362 2,910 106,272 108,208 REPRESENTED BY: Fund Balance B/FD Balance BID Balance BID Thks year's deficit unrestricted Restricted 105,298 2,910 -1,936 106,272 108,940 2,910 -3,642 108,208 unrestricted Ms Virgo Kasozt-Batende Trustee Stgned Date: 01-Oct-24 For and on behalf of the managing committee Page 9 1038650
INTERNATIONAL MINISTRIES FOR THE LIVING WORD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024 1 ACCOUNTING POLICIES The following relevant accounting policies have been applied on a consistent basis throughout the period. BASIS OF PREPARATION These financial statements have been prepared under the historic cost convention and in accordance with the Statement of Recommendation Practice Accounting and Reporting by Charities (SORP 2005) and the Finance Reporttng Standards for Small Entities (effective January 2007) Unrestricted Funds Unrestricted funds are incoming resources receivable or generated for the objects of the Charity without further specified purpose and are available as general fund. This time there is no restricted money received. Grants and Contracts Grants are recognised in full in the Statement of Financial Activities in the year in which they are receivable Donations Voluntary income is receivable by way of donations and gift and is included in full in the Statement of Financial Activities when receivable. The value of services provided by volunteers has not been included Income from Charitable Activities Income from charitable Activities derives from tithes and offerings from congregation and ES recognised in full in period in which they are received. Gift Aid related are treated in the same way RESOURCES EXPENDED Resources expended are recognised in the period in which they are incurred. Tangible Fixed Assets and depreciation The cost of furniture and equipment is capitalised as fixed assets and then depreciated at the rate of 20 % per annum on a reducing balance basis. Fees for examining the accounts 31.3_2024 31.3.2023 independent examiner's fee for reporting on the accounts 1,038 1,038 Page 10 1038650
INTERNATIONAL MINISTRIES FOR THE LIVING WORD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024 CONTD I ACCOUNTING POLICIES CONTD BASIS The financial statements have been prepared under the historical cost convention and include the results of the church's operations, which are described in the trustee's report. The financial statements have been prepared in accordance with applicable accounting standards. Tangible fixed assets and depreciation Depreciation on all fixed assets is provided at 20% on a reducing balance basis on all equipment B2 FIXED ASSETS Motor Computer Musical Fixture5 & Equipment Equipment Fittings Total Van Cost/Valuation 01-Apr-23 17,745 19,610 12,250 49,605 Additions 1,967.00 1,967.00 Disposals 31-Mar-24 17,745 21,577 12,250 51,572 Depreciation 01-Apr-23 16,487 17,925 11,998 46,410 Charge for the year 252 731 50 1,033 31-Mar-24 16,739 18,656 12,048 47,443 Net Book Value 31-Mar-23 1,258 1,686 252 3,196 31-Mar-24 1,006 2.922 202 4.130 Page 11 1038650
INTERNATIONAL MINISTRIES FOR THE LIVING WORD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024 CONTD S 3 OFFICE EXPENSES 31.3.2024 31.3.2023 Repairs Improvement & Decoration Insurance 3,455 870 11,387 278 Water 97 Media books Companies House Women's conference Sage softwear Pastoral care donations Nest Pension Heating Trips/f uel Visitation 298 13 13 182 1,587 1,675 13,975 4,590 -00 1,200 1,370 86 Social outing Trustees and Committee members meeting Membership Post, printing and stationery Telephone Outreach church Volunteer allowance/Travelling Petty cash Transport Thames water Children materials 50 120 120 1,127 4,201 2,003 4,210 580.19 778 2,933 2,200 3,935 531 515 602 Volunteer Exps Other & visa 1,8g2 2,500 136 37,134 32,376 S 4 SUNDRY EXPENSES 31.3.2024 31.3.2023 Bank Charges & financial charges Webhosting UK subscription Capital loss Management committee/ TAPAC Ccpd Security Cheques return Policy renewal Unpaid cheques Hygiene Asbunham Retreat exps Refreshment Evangelism expenses Subtotal 456 457 90 287 1,171 1,280 1,428 180 1,316 185 1,287 2,050 1,581 2,450 9,725 1038650 858 5,350 Page 12
Brought forward Pest control Instrumentalist/Music ministry training Other 5350 9725 542 435 96 Cleaning 5,785 10,363 Page 13 1038650
INTERNATIONAL MINISTRIES FOR THE LIVING WORD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024 CONTD S 5 Mission Work Ghana 1200 Tickets Zambia Rwanda 700 1,200 Uganda UK EUROP 340 total 3,440 3,649 3,058 2,523.22 4,078 8,871.47 700 Allowancè School 3,649 1,445.31 1,314 Travel 1612.77 Car Rental 1,208.90 4,078 4,090 700 Farm Building 4,781 Accornmodatior 12,390 1.613 10,777 1,200 340.00 26,320 S 6 LEGAL AND PROFESSIONAL 31.3.2024 31.3.2023 Accountancy fees/independent examiner's fee Loan refund/consultancy Subscri ption Insurance 3,863 3,863 84 67.20 285.51 Enthronement Album/others 4,233 3,930 S 7 SALARIES 31.03.2024 31.03.2023 Fordwour this year Inland Revenue-NIC & PAYE 22,501 2,792 25,294 22,284 9,161 31.445 There was one full timer employee in post in the financial year Fordwuor Kwadwo. Page 14 1038650
INTERNATIONAL MINISTRIES FOR THE LIVING WORD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024 CONTD B 5 SUNDRY CREDITORS 31.3.2024 31.3.2023 Book keeping Fees Accountancy Payroll related cost Nest Pension 950 950 1,200 300 1,200 300 Independent Examiner Fees Accountancy B/fwd Rent 1,038 376 1,038 426.00 Zambia Mission unclear cheque petty cash volunteer unclear cheque heating 3,864 3,914 Page 15 1038650