OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-12-31-accounts

The Charity Registration Number is :- 1069490

LIVING WORD MINISTRIES INTERNATIONAL

Report and Accounts 31 December 2020

LIVING WORD MINISTRIES INTERNATIONAL

Report and accounts for the year ended 31 December 2020

Contents

Page
Charity information 1
Trustees' Annual Report 2
Statement of Trustees' responsibilities 6
Independent Accountant's Report 8
Funds Statements:-
Statement of Financial Activities 10
Statement of Financial Activities - Prior Year statement 11
Statement of total recognised gains and losses 13
Movements in funds 13
Revenue Funds 13
Income and Expenditure account 14
Summary of funds 15
Balance sheet 15
Notes to the accounts 17

LIVING WORD MINISTRIES INTERNATIONAL Trustees' Annual Report for the year ended 31 December 2020

The Trustees present their Report and Accounts for the year ended 31 December 2020.

Reference and administrative details

The charity name.

The legal name of the charity is:- LIVING WORD MINISTRIES INTERNATIONAL

The charity is also known by its operating name, Living Word Ministries International

The charity's areas operation and UK charitable registration.

The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1069490

Legal structure of the charity

The governing document of the charity is the Trust Deed establishing the charity.

The Governing Document is dated 20 March 1998

The trustees are all individuals.

1

LIVING WORD MINISTRIES INTERNATIONAL

Trustees' Annual Report for the year ended 31 December 2020

The principal operating address, telephone number, email and web addresses of the charity are:-

45 Georgia Road Thornton Heath, Surrey, CR7 8DW

Telephone 020 8764 2111 Email Address info@lwmi.org.uk Web address www.lwmi.org.uk

The Trustees in office on the date the report was approved were:-

Pastor Charles Boakye

Pastor Emmanuel Oblitey Pastor Joan Ojuola Mr Blessing Emeanuwa Elder Afrim Mensah Elder Florence Alorka Deaconness Naomi Afful-Techie

The following persons served as Trustees during the year ended 31 December 2020 :-

Th e rus ees w t t h o serve d as a rus ee n t t i th e repor ti ng per o i d were as s h own a b ove, an d th ere were no changes during the year, or in the period between the year end and the approval of the accounts.

Pastor Charles Boakye

Pastor Emmanuel Oblitey

Pastor Joan Ojuola Mr Blessing Emeanuwa Elder Afrim Mensah Elder Florence Alorka Deaconness Naomi Afful-Techie

All the trustees are also members of the charity.

Objects and activities of the charity

The purposes of the charity as set out in its governing document.

The charity is set up for: (a) The advancement of the Christian Faith; and (b) The relief of poverty. The restrictions in the charity's activities are imposed by its governing documents.

2

LIVING WORD MINISTRIES INTERNATIONAL

Trustees' Annual Report for the year ended 31 December 2020

The main activities undertaken in relation to those purposes during the year.

The charity continued though with some restrictions due to the Covid pandemic, to carry on its missionary work and, to make some donations to other churches and organisations where necessary. Work commenced in ernest on the Ghana Project, a church building in Ghana. The charity maintained the church in London for Christian worship and services, teaching and counselling services. The charity continued to invite and receive contributions by way of donations, gifts, etc for the purpose of carrying out its objects.

The main activities undertaken during the year to further the charity's purpose for the public benefit.

The benefit to the public was mainly the provision of church services. The Crystal Palace branch continued to reach a wider community through social media platforms such as Zoom, Facebook and YouTube, whilst missionary work abroad is being established, to benefit a wider community. Local activites in this year were severely restricted as a result of the Covid-19 pandemic. The Croydon branch ceased its activites. The Ghana church has been registered however, and the church building process is continuing.

The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.

The main achievements and performance of the charity during the year.

Maintaining the church for worship and services including bible studies and Sunday school. Running men and womens fellowships, teaching, preaching and counselling services. The continuation of missionary work and promotion of evangelism. Making donations to other churches and organisations where necessary.

The difference the charity's performance during the year has made to the beneficiaries of the charity.

During the first wave of the pandemic the charity reached out to members by supplying food hampers. The charity has continued to successfully carry on missionary work which includes the youth fellowship, teaching and counselling services via online media for the benefit of the local and wider community. Some members are students at Rhema Bible School.

3

LIVING WORD MINISTRIES INTERNATIONAL

Trustees' Annual Report for the year ended 31 December 2020

The degree to which the achievements and performance during the year have benefited wider society.

The charity also provides training and support for the church in Togo and Ghana (mentioned above). The charity also co-operates with other charities, voluntary bodies and statutory authorities in the furtherance of the objects or similar charitable purposes.

The methods used to recruit and appoint new charity trustees.

There shall be at least three trustees. Every future trustee shall be appointed by a resolution of the trustees passed at a special meeting called under clause 'XI' in the trust deed. In selecting persons to be appointed trustees, the trustees shall take into account the benefits of appointing a person who is able by virture of his personal or professional qualifications to make a contribution to the pursuit of the objects or management of the charity. If for any reason trustees cannot be appointed in accordance with the foregoing positions the statutory power of appointing new additional trustees shall be exercised.

How the charity makes decisions and how decisions are delegated.

The pastor retains oversight of all church matters, but is answerable to two elders and four trustees . The trustees and elders meet regularly to discuss and plan objectives and implementation thereof. Matters of general concern are raised with all members. All matters are subject to prayer and God's direction.

The charity as a part of a wider network.

The charity co-operates with other charities, voluntary bodies and statutory authorities in the furtherance of the objects or similar charitable purposes.

The charity's relationships with related parties.

The charity carries on missionary work, promotes evangelism and makes donations to other churches and organisations. The church also provides training and support for the church in Togo mentioned above. The charity also co-operates with other charities, voluntary bodies and statutory authorities in the furtherance of the objects or similar charitable purposes.

Bankers Accountants

Barclays Bank Plc, 1 Churchill Place, London EC14 5HP. HSBC , 91 High Street, Thornton Heath, Surrey CR7 8XE.

Newman Nede & Co, 1 Bromley Lane, Chislehurst, BR7 6LH.

4

LIVING WORD MINISTRIES INTERNATIONAL

Trustees' Annual Report for the year ended 31 December 2020

Financial review

The charity's financial position at the end of the year ended 31 December 2020

The financial position of the charity at 31 December 2020 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-

Restricted Revenue Funds
Total Funds
Net expenditure
Unrestricted Revenue Funds available for the
general purposes of the charity		 2020
£
(16,788)
115,270
60,277
175,547		 2019
£
(8,567)
133,369
58,966
192,335

Financial review of the position at the reporting date, 31 December 2020 .

The financial situation of the charity for the year is as shown in the accounts. The financial position of the charity is that it is still in a strong position. General operating costs are constantly being reviewed and reduced where possible. Gifts and mission contributions increased as a result of establishing a new branch in Ghana and in furtherance of achieving objectives.

The trustees consider the financial performance by the charity during the year to have been satisfactory.

Specific changes in fixed assets are detailed in the notes to the accounts.

Policies on reserves.

The trustees have resolved to establish reserves to provide for future activities and the trustees have wide powers of investment. Within those powers, a statement of investment principles has been adopted as set out below. The policy on reserves is that the existing assets are retained to support existing activities. In furtherance of the the charity, the trustees may buy, take on lease or exchange, hire or otherwise dispose of all or any part of the property comprised in the trust fund; delegate to any one of the trustees the transaction of any business or the performance of any act required to be transacted or performed in the execution of the trusts of the charity and which is within the professional or business competence of such trustee or trustees, provided that the trustees shall exercise reasonable supervision over any trustee or trustees acting on their behalf under provision and shall ensure that all their acts and proceedings are fully and promptly reported to them.

5

LIVING WORD MINISTRIES INTERNATIONAL

Trustees' Annual Report for the year ended 31 December 2020

Availability and adequacy of assets of each of the funds

The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

Other information about the charity and its activities

Details of The Independent Examiner

Ms J Newman BSc Hons, MAAT

Member of AAT

1 Bromley Lane Chislehurst

Kent

BR7 6LH.

Statement of Trustees's Responsibilities

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) .

In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-

6

LIVING WORD MINISTRIES INTERNATIONAL

Trustees' Annual Report for the year ended 31 December 2020

The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.

This report was approved by the board of trustees on ............................

Mr Blessing Emanuwa Trustee

7

LIVING WORD MINISTRIES INTERNATIONAL

Report of the Independent Examiner to the Trustees of the charity on the accounts for the year ended 31 December 2020

I report on the financial statements of the charity on pages 10 to 27 for the year ended 31 December 2020 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) adapted to meet the needs of unincorporated organisations, as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) published by the Charity Commission in England & Wales (CCEW) , effective January 2015 (The SORP), under the historical cost convention and the accounting policies set out on page 17.

Respective responsibilities of the Trustees and the Independent Examiner

As described on page 6, the charity's Trustees are responsible for the preparation of the accounts.

The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, theTrustees have elected that the financial statements be subject to independent examination.

Having satisfied myself that the charity is not subject to audit under any legal provision, or otherwise, and is eligible for independent examination, it is my responsibility to:-

a) examine the accounts under Section 145 of the Act;

b) follow the procedures in the General Directions given by the Charity Commission under section 145(5)(b) of the Act and;

Independent Examiner's Statement, Report and Opinion

Subject to the limitations upon the scope of my work as detailed above , in connection with my examination, I can confirm that :-

This is a report in respect of an examination carried out under 145 of the Act and in accordance with General Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;

and that no matter has come to my attention in connection with my examination which gives me reasonable cause to believe that in any material respect the requirements :-

to keep accounting records in accordance with with Section 130 of The Charities Act 2011;

when preparing accounts on an accruals basis, to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the Act and the Regulations setting out the form and content of charity accounts;

have been prepared in accordance with The Charities Act 2011. and with the methods and principles set out in the FRS102 Statement of Recommended Practice - Accounting and Reporting by Charities (effective January 2016)

have not been met or to which, in my opinion, attention should be drawn in my report in order to enable a proper understanding of the accounts to be reached;

Ms J Newman BSc Hons, MAAT - Independent Examiner

8

LIVING WORD MINISTRIES INTERNATIONAL

AAT

1 Bromley Lane Chislehurst Kent Kent BR7 6LH.

This report was signed on ...........................

9

LIVING WORD MINISTRIES INTERNATIONAL - Statement of Financial Activities for the year ended 31 December 2020

Statement of Financial Activities for the year ended 31 December 2020

Current year
Unrestricted Funds
2020
£
Income & Endowments from:
Donations & Legacies
A1
30,629
Investments
A4
197
Other - Gift Aid
A5
7,378
Total income
A
38,204
Expenditure on:
Charitable activities
B2
56,303
Total expenditure
B
56,303
Net expenditure for the year
(18,099)
Net income after transfers
A-B-C
(18,099)
(18,099)
Net movement in funds
SORP
Ref
Reconciliation of funds:-
E
Total funds brought forward
133,369
Total funds carried forward
115,270		 Current year
Restricted Funds
2020
£
1,311
-
-
1,311
-
-
1,311
1,311
1,311
58,966
60,277		 Current year
Total Funds
2020
£
31,940
197
7,378
39,515
56,303
56,303
(16,788)
(16,788)
(16,788)
192,335
175,547		 Prior Year
Total Funds
2019
£
52,223
404
(3,506)
49,121
57,688
57,688
(8,567)
(8,567)
(8,567)
200,902
192,335

The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.

A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.

All activities derive from continuing operations

The notes attached on pages 17 to 27 form an integral part of these accounts.

10

LIVING WORD MINISTRIES INTERNATIONAL - Statement of Financial Activities for the year ended 31 December 2020

LIVING WORD MINISTRIES INTERNATIONAL - Analysis of prior year total funds, as required by paragraph 4.2 of the SORP

SORP
Ref		 Prior Year
 Prior Year Prior Year
Total Funds
Unrestricted Funds Restricted Funds
2019 2019 2019
£ £ £
Income & Endowments from:
Donations & Legacies A1 50,198 2,025 52,223
Investments A4 404 - 404
Other - Gift Aid
Total income
Expenditure on:
Charitable activities
Other
Total expenditure
Net gains on investments		 A5
A
B2
B3
B
B4		 (3,506)
47,096
39,272
18,416
57,688
-		 -
2,025
-
-
-
-		 (3,506)
49,121
57,688
-
57,688
-
Net expenditure for the year (10,592) 2,025 (8,567)
Transfers between funds C - - -
Net income after transfers (10,592) 2,025 (8,567)
Net movement in funds (10,592) 2,025 (8,567)
Reconciliation of funds:- E
Total funds brought forward 143,961 56,941 200,902
Total funds carried forward 133,369 58,966 192,335

The notes attached on pages 17 to 27 form an integral part of these accounts.

11

LIVING WORD MINISTRIES INTERNATIONAL - Statement of Financial Activities for the year ended 31 December 2020

LIVING WORD MINISTRIES INTERNATIONAL - Resources applied in the year ended 31 December 2020 towards fixed assets for Charity use:-

Funds generated in the year as detailed in the SOFA
Resources applied on functional fixed assets
Net resources available to fund charitable activities		 2020
£
(16,788)
(11,824)
(28,612)		 2019
£
(8,567)
(411)
(8,978)

The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposal

The notes attached on pages 17 to 27 form an integral part of these accounts.

12

LIVING WORD MINISTRIES INTERNATIONAL - Statement of Financial Activities for the year ended 31 December 2020

Movements in revenue and capital funds for the year ended 31 December 2020

Revenue accumulated funds

Accumulated funds brought forward
Closing revenue funds
Summary of funds
Revenue accumulated funds
Recognised gains and losses before
transfers		 Unrestricted
Funds
2020
£
133,369
(18,099)
115,270
115,270
Unrestricted
and
Designated funds
2020
£
115,270		 Restricted
Funds
2020
£
58,966
1,311
60,277
60,277
Restricted
Funds
2020
£
60,277		 Total
Funds
2020
£
192,335
(16,788)
175,547
175,547
Total
Funds
2020
£
175,547		 Last year
Total Funds
2019
£
200,902
(8,567)
192,335
192,335
Last Year
Total Funds
2019
£
192,335

The notes attached on pages 17 to 27 form an integral part of these accounts.

13

LIVING WORD MINISTRIES INTERNATIONAL - Statement of Financial Activities for the year ended 31 December 2020

LIVING WORD MINISTRIES INTERNATIONAL

Income and Expenditure Account for the year ended 31 December 2020 as required by the Companies Act 2006

Income
Income from operations
Interest receivable
Other operating income
Gross income in the year before exceptional items
Gross income in the year including exceptional items
Expenditure
Charitable expenditure, excluding depreciation and amortisation
Depreciation and amortisation
Governance costs
Realised losses on disposals of social investments which are programme related
Total expenditure in the year
Net income before tax in the financial year
Investment income
Tax on surplus on ordinary activities
Retained surplus for the financial year
Net income after tax in the financial year		 2020
£
31,940
197
7,378
39,515
39,515
52,549
3,254
500
-
56,303
(16,788)
-
(16,788)
(16,788)		 2018
£
52,223
404
(3,506)
49,121
49,121
56,034
704
950
-
57,688
(8,567)
-
(8,567)
(8,567)

All activities derive from continuing operations

In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.

The notes attached on pages 17 to 27 form an integral part of these accounts.

14

LIVING WORD MINISTRIES INTERNATIONAL - Balance Sheet as at 31 December 2020

SORP
Note Ref 2020 2019
£ £
Fixed assets A
Tangible assets 8 A2 11,383 2,813
Current assets B
Debtors 9 B2 7,630 11,765
Cash at bank and in hand B4 161,312 180,332
Total current assets 168,942 192,097
Creditors: amounts falling due within
one year 10 C1 (4,778) (2,575)
Net current assets 164,164 189,522
The total net assets of the charity 175,547 192,335
The total net assets of the charity are funded by the funds of the charity, as follows:-
Restricted funds
Restricted Revenue Funds 16 D2 60,277 58,966
Unrestricted Funds
Unrestricted Revenue Funds 16 D3 115,270 133,369
Designated Funds
Total charity funds 175,547 192,335

The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..

The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.

The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 9.

TheThe Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

15

LIVING WORD MINISTRIES INTERNATIONAL - Balance Sheet as at 31 December 2020

Mr Blessing Emanuwa

Trustee Approved by the board of trustees on ...........................

The notes attached on pages 17 to 27 form an integral part of these accounts.

16

LIVING WORD MINISTRIES INTERNATIONAL

Notes to the Accounts for the year ended 31 December 2020

1 Accounting policies

Policies relating to the production of the accounts.

Basis of preparation and accounting convention

The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) published by the Charity Commission in England & Wales (CCEW) ,effective January 2016, (The SORP), and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015 (as amended by the Bulletin issued in February 2016) in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.

Policies relating to categories of income and income recognition.

Nature of income

Offering and donations represent gifts from church members through collections and other donations received. This year the charity was also in receipt of Gift Aid.

Categories of Income

Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income.

Income from exchange transactions is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. There was no such income during the year.

Income from a non-exchange transaction is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.

Income recognition

Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.

All income is accounted for gross, before deducting any related fees or costs.

Policies relating to expenditure on goods and services provided to the charity.

Volunteers

In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity. However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note5.

Policies relating to assets, liabilities and provisions and other matters.

Tangible fixed assets

Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.

Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over estimated useful lives.

Plant and machinery 20 % reducing balance Motor vehicles 25 % straight line

17

LIVING WORD MINISTRIES INTERNATIONAL

Notes to the Accounts for the year ended 31 December 2020

Creditors and provisions

Creditors and provisions for liabilities and charges are recognised and measured according to the usual conventions applicable to accruals accounting.

Liability to taxation

2

The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.

3 Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.

4 Net (deficit)/surplus before tax in the financial year

Depreciation of owned fixed assets
The net (deficit)/surplus before tax in the financial year is stated after charging:-		 2020
£
3,254		 2019
£
704

18

LIVING WORD MINISTRIES INTERNATIONAL

Notes to the Accounts for the year ended 31 December 2020

5 The contribution of volunteers

The charity depends on the support of its volunteers, which is much appreciated. The arrangements with volunteers are difficult to value precisely in monetary terms and have not been recognised in the Statement of Financial Activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.

6 Staff costs and emoluments

Salary costs
Trustees' Remuneration as detailed in note 7
Employer's National Insurance for all staff
Total salaries, wages and related costs
Numbers of full time employees or full time equivalents
The average number of total staff employed in the year was
The average number of part time staff employed in the year was
The average number of full time staff employed in the year was
The estimated full time equivalent number of all staff employed in the year was
The estimated equivalent number of full time staff deployed in different activities in th
Engaged on charitable activities
The estimated full time equivalent number of all staff employed as above
Trustee remuneration is as shown above.		 2020
£
18,665
917
-
19,582
2020
1
-
1
1
e year was:-
1
1		 2019
£
16,486
788
-
17,274
2019
1
-
1
1
1
1

No employees received emoluments (excluding pension costs) in excess of £60,000 per annum.

7 Remuneration and payments to Trustees and persons connected with them

During the year, Pastor Boakye, a trustee received payment under a contract of employment shown in the employment costs. A donation of £1,000.00 and contribution for accomodation costs of £420.50 was made to a guest minister Pastor F. Ojuola who is connected to a trustee, for services to the church during the year.

19

LIVING WORD MINISTRIES INTERNATIONAL

Notes to the Accounts for the year ended 31 December 2020

8 Tangible fixed assets

Cost
At 1 January 2020
Additions
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019		 Land and
Buildings
£
-
-
-
-
-
-
-
-		 Plant &
Machinery
£
24,240
626
24,866
21,427
688
22,115
2,751
2,813		 Motor
Vehicles
£
-
11,198
11,198
-
2,566
2,566
8,632
-		 Total
£
24,240
11,824
36,064
21,427
3,254
24,681
11,383
2,813

9 Debtors

Trade debtors
Other debtors
10 Creditors: amounts falling due within one year
Accruals
PAYE, NIC VAT and other taxes		 2020
£
252
7,378
7,630
2020
£
500
4,278
4,778		 2019
£
252
11,513
11,765
2019
£
500
2,075
2,575

11 Loans to trustees included in debtors

There were no such loans.

12 Guarantees made by the charity on behalf of trustees

There were no such guarantees.

13 Income and Expenditure account summary

Income and Expenditure account summary
At 1 January 2020
Loss after tax for the year
At 31 December 2020		 2020
£
192,335
(16,788)
175,547		 2019
£
200,902
(8,567)
192,335

14 No related party transactions

There were no related party transactions.

20

LIVING WORD MINISTRIES INTERNATIONAL

Notes to the Accounts for the year ended 31 December 2020

15 Particulars of how particular funds are represented by assets and liabilities

At 31 December 2020
Tangible Fixed Assets
Investments at valuation:-
Current Assets
Current Liabilities
At 1 January 2020
Tangible Fixed Assets
Investments at valuation:-
Current Assets
Current Liabilities		 Unrestricted
funds
£
11,383
108,665
(4,778)
115,270
Unrestricted
funds
£
2,813
133,131
(2,575)
133,369		 Designated
funds
£
-
-
-
-
Designated
funds
£
-
-
-
-		 Restricted
funds
£
-
60,277
-
60,277
Restricted
funds
£
-
58,966
-
58,966		 Total
Funds
£
11,383
168,942
(4,778)
175,547
Total
Funds
£
2,813
192,097
(2,575)
192,335

16 Change in total funds over the year as shown in Note 15 , analysed by individual funds

Unrestricted and designated funds:-
Unrestricted Revenue Funds
Total unrestricted and designated funds
Restricted funds:-
Building Fund
Love In Action Fund
Mission Fund
Total restricted funds
Total charity funds		 £
Funds brought
forward from
2019
166,313
166,313
22,519
473
3,030
26,022
192,335		 See Note 17
£

Movement in
funds in 2020
(18,099)
(18,099)
660
-
651
1,311
(16,788)		 See Note 0
£
Transfers
between
funds in 2020
-
-
-
-
-
-
-		 £
Funds carried
forward to
2021
148,214
148,214
23,179
473
3,681
27,333
175,547

21

LIVING WORD MINISTRIES INTERNATIONAL

Notes to the Accounts for the year ended 31 December 2020

17 Analysis of movements in funds over the year as shown in Note 16

Unrestricted and designated funds:-
Unrestricted Revenue Funds
Restricted funds:-
Building fund
Mission fund		 Income
2020
£
38,204
660
651
39,515		 Expenditure
2020
£
(56,303)
-
(56,303)		 Other
Gains &
Losses
2020
£
-
-
-
-		 Movement
in funds
2020
£
(18,099)
660
651
(16,788)

Gains and losses are detailed in note 21.

18 The purposes for which the funds as detailed in note 16 are held by the charity are:-

Unrestricted and designated funds:- These funds are held for the meeting the objectives of the charity, and to Unrestricted Revenue Funds provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use. Restricted funds:- Restricted Fixed Asset Funds The purpose of these funds is described under the accounting policy 'Accounting for capital grants and fixed asset funds'.

19 Ultimate controlling party

The charity is under the control of its legal members.

Every member of the charity has unlimited joint and several liability for the debts of the charity.

22

LIVING WORD MINISTRIES INTERNATIONAL

Detailed analysis of income and expenditure for the year ended 31 December 2020 as required by the SORP 2015

This analysis is classsified by conventional nominal descriptions and not by activity.

20 Donations and Legacies

Tithes
Offerings
Total Donations and Legacies
A1
21 Investment income
Bank Interest Receivable
Total investment income
A4
22 Other income and gains
Summary of Other income
Total other income
A5
Gift Aid Receipts
Total Offerings
Church membership
Church Membership
Membership subscriptions as
donations
Total Tithes		 Current year
Unrestricted
Funds
2020
£
1,711
22,358
22,358
6,560
6,560
30,629
Current year
Unrestricted
Funds
2020
£
197
197
Current year
Unrestricted
Funds
2020
£
7,378
7,378		 Current year
Restricted Funds
2020
£
1,311
-
-
-
-
1,311
Current year
Restricted Funds
2020
£
-
-
Current year
Restricted Funds
2020
£
-
-		 Current year
Total Funds
2020
£
3,022
22,358
22,358
6,560
6,560
31,940
Current year
Total Funds
2020
£
197
197
Current year
Total Funds
2020
£
7,378
7,378		 Prior Year
Total Funds
2019
£
19,538
27,963
27,963
4,722
4,722
52,223
Prior Year
Total Funds
2019
£
404
404
Prior Year
Total Funds
2019
£
(3,506)
(3,506)

23

LIVING WORD MINISTRIES INTERNATIONAL

Detailed analysis of income and expenditure for the year ended 31 December 2020 as required by the SORP 2015

23 Expenditure on charitable activities - Direct spending

Total direct spending
B2a
Gross wages and salaries - charitable
activities
Ghana Project
Direct administration
Gifts, Contributions & Missions
Youth & Children
Welfare
Travel and Subsistence - Charitable
Activities
Employers' NI - Charitable activities		 Current year
Unrestricted
Funds
2020
£
18,665
917
1,356
17,911
1,961
1,299
1,267
-
43,376		 Current year
Restricted Funds
2020
£
-
-
-
-
-
-
-
-
-		 Current year
Total Funds
2020
£
18,665
917
1,356
17,911
1,961
1,299
1,267
-
43,376		 Prior Year
Total Funds
2019
£
16,486
788
3,934
-
13,003
3,189
250
1,622
39,272

24

LIVING WORD MINISTRIES INTERNATIONAL

Detailed analysis of income and expenditure for the year ended 31 December 2020 as required by the SORP 2015

24 Support costs for charitable activities

Current year
Unrestricted
Funds
2020
£
Employee costs not included in direct costs
1,246
586
1,356
Volunteer costs
-
Premises Expenses
4,310
Administrative overheads
624
89
34
270
118
508
-
-
Financial costs
32
3,254
Support costs before reallocation
12,427
Total support costs
12,427
Uniform
Sundry expenses
Software licences and expenses
Telephone, fax and internet
Stationery and printing
Bank charges
Depreciation & Amortisation in total for
Insurance
Equipment expenses and repairs
Membership subscriptions
Information and publications
Motor expenses - staff
Room Hire
Training and welfare - staff
Travel and subsistence - staff		 Current year
Restricted Funds
2020
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Current year
Total Funds
2020
£
1,246
586
1,356
-
4,310
624
89
34
270
118
508
-
-
32
3,254
12,427
12,427		 Prior Year
Total Funds
2019
£
75
562
3,934
50
9,373
766
293
391
90
273
-
2
913
40
704
17,466
17,466

The basis of allocation of costs between activities is described under accounting policies

25 Other Expenditure - Governance costs

Independent Examiner's fees
Accountancy fees
Total Governance costs		 Current year
Unrestricted
Funds
2020
£
500
-
500		 Current year
Restricted Funds
2020
£
-
-
-		 Current year
Total Funds
2020
£
500
-
500		 Prior Year
Total Funds
2019
£
500
450
950

25

LIVING WORD MINISTRIES INTERNATIONAL

Detailed analysis of income and expenditure for the year ended 31 December 2020 as required by the SORP 2015

26 Total Charitable expenditure

Total direct spending
B2a
Total support costs
B2d
Total Governance costs
B2e
Total charitable expenditure
B2		 Current year
Unrestricted
Funds
2020
£
43,376
12,427
500
56,303		 Current year
Current year
Prior Year
Restricted Funds
Total Funds
Total Funds
2020
2020
2019
£
£
£
-
43,376
39,272
-
12,427
17,466
-
500
950
-
56,303
57,688

26

LIVING WORD MINISTRIES INTERNATIONAL

Activity analysis of Income and expenditure for the for the year ended 31 December 2020

This analysis is classsified by activity and not by conventional nominal descriptions.
27 Analysis of income by activity
SOFA ref
2020
-
Summary of Total Income, including the items above
Donations & Legacies
A1
31,940
Investment income
A4
197
Other income
A5
7,378
Total income as shown in the SOFA
A
39,515
Categories of income
Income from non-exchange transactions
39,515
28
Governance costs
Governance
costs
2020
£
Other Expenditure - Governance costs as detailed in Note 25
500
Activity		 This analysis is classsified by activity and not by conventional nominal descriptions.
27 Analysis of income by activity
SOFA ref
2020
-
Summary of Total Income, including the items above
Donations & Legacies
A1
31,940
Investment income
A4
197
Other income
A5
7,378
Total income as shown in the SOFA
A
39,515
Categories of income
Income from non-exchange transactions
39,515
28
Governance costs
Governance
costs
2020
£
Other Expenditure - Governance costs as detailed in Note 25
500
Activity		 2019
-
52,223
404
(3,506)
49,121
49,121
Governance
costs
2020
£
500		 Governance
costs
2019
£
950

27