WOOD WORLD MISSIONS (Charity reg. 1084001)
REPORT AND ACCOUNTS
31 MARCH 2021
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WOOD WORLD MISSIONS REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2021
Status The charity is constituted as an unincorporated body. Governing document The charity is established under a model trust deed. Charity registration 1084001 Principal address 238 - 240 London Road Mitcham, Surrey CR4 3HD Trustees Rev. Dr. William Wood Rev. (Mrs) Dr. Mercy Wood Bishop Edward Antwi Gabriel Kwaku Wood (Appointed- 23/12/2020) Bankers Lloyds TSB London Bridge Branch 69-73 Borough High Street Southwark London, SE1 1NQ Independent examiner Kojo & Co Limited Chartered Certified Accountants Registered Auditors 118-120 London Road Mitcham Surrey CR4 3LB
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WOOD WORLD MISSIONS TRUSTEES' REPORT FOR THE PERIOD ENDED 31 MARCH 2021
The Trustees present their report together with the accounts for the year
OBJECTIVES AND POLICIES
The Objectives of the Charity are to:
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a) advance the Christian Faith by Ministering the Word of God
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b) relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby.
Wood World Mission is committed to enabling as many people as possible to worship at our church and to become part of our worshiping community. The trustees maintain an overview of worship through out the community and makes suggestions on how our services can involve the many groups who live within the community. Our worship and services put faith into practice through prayer and scripture, music and sacrament.
When planning our activities for the year, the trustees have considered the Commission's guidance on public benefit and in particular, the specific guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our worshiping community through:
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Worship and prayer; learning about the Gospel and developing their knowledge and trust in Jesus
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Provision of pastoral care for people within the church
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Missionary and outreach work
TRUSTEES
The Trustees who served during the year and at the date of this report are:
Rev. Dr. William Wood Chairman Rev. (Mrs) Dr. Mercy Wood Secretary Bishop Edward Antwi Gabriel Kwaku Wood Appointed- 23/12/2020
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WOOD WORLD MISSIONS TRUSTEES' REPORT FOR THE PERIOD ENDED 31 MARCH 2021
REVIEW OF PAST ACTIVITIES
We thank God for bringing us through the COVID 19 pandemic. By the grace of God most of the restrictions on our Churches here in the United Kingdom and abroad have now been lifted and we are now able to proceed with our Church services without any restrictions. All glory and honour be to our God.
The doors to our Mitcham Branch Church continues to be open to our Community every Thursday for food, clothes and shoes distribution every Thursday from 10am to 12pm. I would like to take this opportunity to say a very big thank you to all our lead coodinators of our food, clothes and shoes department for all their dedication and commitment to that assignment. I will also like to thank all the volunteers who help with that work; without their help it will not be possible to do that project on a weekly basis. I will also like to thank all those who supply us with the food, clothes and shoes every week. Their help is most valuable.
Our Wood World Missions Bible school which was affected by the COVID 19 pandemic, has now resumed. The Correspondence wing of our Wood World Missions is also going well. A lot more of our Pastors and Leaders continue to enrol and are graduation rapidly. All glory be to God for that.
Our Branch Churches in Ghana, Nigeria, Zambia, Malawi and other parts of the world are all up and running by the grace of God. It is our prayer that this COVID 19 pandemic will disappear as quickly as it appeared in Jesus name.
The Wood World Missions Technical and Vocational School in Akosombo (Akosombo Academy) is now almost completed; thanks to all our numerous donors and sponsors from the UK, USA and around the world.
We are currently raising more funds form different sponsors and donors to equip the classrooms with all the equipments for all the technical and vocational courses that we will be running. Thanks be to God a number of individuals, families and groups have donated funds and equipments towards that work. We are very grateful to all of our donors and sponsors. We are currently working on the interviewing of all the teachers and staff that will assist us with the running of the Akosombo Academy. We are also currently embarking on the enrolment and admission of the students who will be attending the school when the time comes. We are liasing very closely with the Ghana Education Service in this regard. All glory be to God.
Our operations in the USA also continues. Now that most of the COVID 19 restrictions have been lifted, we look forward to visiting the USA in order to raise some more funds for our projects around the world.
We look forward to visiting our Youth Centre in Uganda and formally opening it. We also look forward to visiting our Church Branches in Malawi, Nigeria and South Africa. Its been sometime since we visited them physically. We have however been keeping in touch with them on a weekly basis.
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WOOD WORLD MISSIONS TRUSTEES' REPORT FOR THE PERIOD ENDED 31 MARCH 2021
FURTHER DEVELOPMENTS
In the next few months we look forward to seeing the Akosombo Academy in Ghana starting. We also look forward to starting the building of the other facilities that goes with the Akosombo Academy.
We also look forward to visiting our Youth Centre in Wakiso, Uganda and opening it.
We also look forward to travelling to Uganda with our Youth Group here in the UK, The Road to Jericho on a Mission Trip.
We also look forward to completing and opening the Hostel that we are building in Ajina, Ghana.
We also look forward to going to Nigeria to formally open our Branch Church there.
We look forward to travelling to the USA to raise more funds for all our projects around the World.
It remains for me to thank God for the life he has given us without which we will not be able to do his work. To Him be praised for ever and ever.
To all our partners and sponsors we say God bless you. We look forward to working together in the vineyard of the Lord. All Glory be to God. Amen.
WOOD WORLD MISSIONS' RISK STATEMENT
The Charity has the policy of diversifying its funding base. To this end the income of the Charity is derived from general offerings from the members, Bible school donations, mission conferences donations and donations from the general public and mission partners.
Financial policies are in place to ensure the prevention of and the detection of fraud and other irregularities.
The board of trustees receive regular financial reports to enable them to monitor the Charity's income and expenditure thus keeping them up to date with the Church's Financial position.
By order of the board
Rev. (Mrs) Dr. Mercy N. A. Wood Secretary Dated:
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INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF WOOD WORLD MISSIONS
I report on the accounts of the Charity for the year ended 31 March 2021 which are set out on pages 7 to 16.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts represented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as 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:
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(1) which gives me reasonable cause to believe that in any material respect the requirements: * to keep accounting records in accordance with section 130 of the 2011 Act, and
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to prepare accounts which accord with the accounting records and comply with the the requirements of the 2011 Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Kojo Amoah-Arko FCCA Kojo & Co Ltd Association of Chartered Certified Accountants 118-120 London Road Dated Mitcham Surrey CR4 3LB
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WOOD WORLD MISSIONS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Restricted | Unrestrict. | Total | Total | ||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Note | £ | £ | £ | ||
| INCOMING RESOURCES | |||||
| Voluntary income | 2 | 76,000 | 144,306 | 220,306 | 322,571 |
| __ | _____ | ||||
| RESOURCES EXPENDED | |||||
| Charitable expenditure | 3 | 76,000 | 143,653 | 219,653 | 348,136 |
| __ | _____ | ||||
| NET INCOME FOR THE YEAR | - | 653 | 653 | (25,565) | |
| Total funds brought forward | 344 | 35,558 | 35,902 | 61,818 | |
| __ | ___ | __ | ___ | ||
| TOTAL FUNDS CARRIED FORWARD | 344 | 36,211 | 36,555 | 36,253 | |
| __ | _____ |
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WOOD WORLD MISSIONS BALANCE SHEET AS AT 31 MARCH 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| TANGIBLE FIXED ASSETS | 4 | 1,886 | 2,556 | ||
| CURRENT ASSETS | |||||
| Debtors | 10,500 | 10,500 | |||
| Bank and cash balances | 24,869 | 23,546 | |||
| ___ | ___ | ||||
| 35,369 | 34,046 | ||||
| CREDITORS: Amounts | |||||
| falling due within one year | 5 | 700 | 700 | ||
| ____ | ___ | ||||
| 34,669 | 33,346 | ||||
| ____ | ___ | ||||
| 36,555 | 35,902 | ||||
| ____ | ___ | ||||
| FUNDS: | |||||
| INCOME FUNDS | |||||
| Unrestricted | 6 | 36,211 | 35,558 | ||
| Restricted | 6 | 344 | 344 | ||
| ____ | ___ | ||||
| 36,555 | 35,902 | ||||
| ____ | ___ |
Approved by the trustees on
Rev. William T E Wood Chairman
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WOOD WORLD MISSIONS NOTES TO THE ACCOUNTS - 31 MARCH 2021
1. ACCOUNTING CONVENTION
These accounts have been prepared on the historical cost convention and in accordance with Accounting and Reporting by Charities SORP: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective 1 January 2020. (Charities SORP (FRS102))
ACCOUNTING POLICIES
…
INCOME
Income and donations are accounted for as and when received by the charity.
DEPRECIATION
Depreciation of tangible fixed assets is provided on the straight line basis over the expected useful lives of the assets as follows:
| Furniture and Office Equipment | 20% on cost |
|---|---|
| Motor vehicles | 25% on cost |
Fixed assets financed by grants are written off to Statement of Financial Activities in line with the accounting policy of the related grant.
2. VOLUNTARY INCOME
| Restricted | Unrestrict. | Total | Total | |
|---|---|---|---|---|
| 2021 | 2020 | |||
| £ | £ | £ | ||
| 2 (a) BUILDING PROJECT | - | |||
| Donations | 76,000 | - | 76,000 | 72,880 |
| __ | _____ | |||
| 2 (b) OTHER INCOME | ||||
| Tithes & offerings | - | 95,801 | 95,801 | 118,944 |
| Tax refunds | - | 35,685 | 35,685 | 59,622 |
| Other donations | - | 12,820 | 12,820 | 71,125 |
| __ | _____ | |||
| - | 144,306 | 144,306 | 249,691 | |
| __ | _____ | |||
| Total | 76,000 | 144,306 | 220,306 | 322,571 |
__ ___ _ _
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WOOD WORLD MISSIONS NOTES TO THE ACCOUNTS - 31 MARCH 2021
3. RESOURCES EXPENDED
Charitable expenditure
| Charitable expenditure | ||||
|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | |
| 2021 | 2020 | |||
| £ | £ | £ | ||
| Welfare and sundry donations | - | 3,575 | 3,575 | 7,332 |
| Overseas/Building Project | 76,000 | 70,632 | 146,632 | 198,164 |
| Rent & rates | - | 35,980 | 35,980 | 69,644 |
| Depreciation | - | 670 | 670 | 670 |
| Voluntary expenses | - | 12,600 | 12,600 | 20,920 |
| Travelling | - | 2,346 | 2,346 | 15,601 |
| Telephone | - | 835 | 835 | 659 |
| Professional fees | - | 700 | 700 | 700 |
| Repairs & renewals | - | 902 | 902 | 817 |
| Advertising & video | - | 704 | 704 | 1,573 |
| Printing, post & stat. | - | 2,350 | 2,350 | 467 |
| Bank charges | - | 3,008 | 3,008 | 4,844 |
| Light & heat | - | 3,638 | 3,638 | 5,175 |
| Insurance | - | 426 | 426 | 2,375 |
| Sundries | - | 2,645 | 2,645 | 1,921 |
| Preaching fees | - | 1,550 | 1,550 | 14,680 |
| Hotel & Refreshments | - | 1,093 | 1,093 | 2,594 |
| __ | __ | __ | __ | |
| 76,000 | 143,653 | 219,653 | 348,136 |
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WOOD WORLD MISSIONS NOTES TO THE ACCOUNTS - 31 MARCH 2021
| 4. TANGIBLE FIXED ASSETS | |||
|---|---|---|---|
| Motor | Equipment | Total | |
| Vehicles | |||
| COST | £ | £ | £ |
| As at 1 April 2020 | 1,700 | 48,443 | 50,143 |
| Additions during the year | - | - | - |
| ___ | ______ | ||
| As at 31 March 2021 | 1,700 | 48,443 | 50,143 |
| ___ | ______ | ||
| DEPRECIATION | |||
| Balance brought forward | 1,699 | 45,888 | 47,587 |
| Charge for the year | - | 670 | 670 |
| ___ | __ | ___ | |
| Balance carried forward | 1,699 | 46,558 | 48,257 |
| ___ | __ | ___ | |
| NET BOOK VALUE | |||
| As at 31 March 2021 | 1 | 1,885 | 1,886 |
| ___ | ______ | ||
| As at 31 March 2020 | 1 | 2,555 | 2,556 |
| ___ | ______ | ||
| 2021 | 2020 | ||
| £ | £ | ||
| 5. DEBTORS | |||
| Prepayments and deposits | 10,500 | 10,500 | |
| ______ | |||
| 6. CREDITORS: Amounts falling due within one year | |||
| Other creditors | - | - | |
| Accruals | 700 | 700 | |
| ______ | |||
| 700 | 700 | ||
| ______ |
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WOOD WORLD MISSIONS NOTES TO THE ACCOUNTS - 31 MARCH 2021
7. FUNDS
| **01-Apr-20 ** | Receipts | Payments | Transfers31-Mar-21 | Transfers31-Mar-21 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Restricted funds | |||||
| Welfare | 154 | - | - | - | 154 |
| Overseas/Building Projects | 190 | 76,000 | 76,000 | - | 190 |
| ______ | ___ | ______ | |||
| 344 | 76,000 | 76,000 | - | 344 | |
| Unrestricted funds | 35,558 | 144,306 | 143,653 | - | 36,211 |
| ______ | ___ | ______ | |||
| Total | 35,902 | 220,306 | 219,653 | - | 36,555 |
| ______ | ___ | ______ |
The restricted funds relate to funds for the welfare of the needy and for all the overseas projects.
8. ANALYSIS OF FUND BALANCES BETWEEN THE NET ASSETS
| **Unrestrict. ** | Restricted | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Tangible fixed assets | 1,886 | - | 1,886 |
| Current assets | 35,025 | 344 | 35,369 |
| Current liabilities | (700) | - | (700) |
| _____ | |||
| 36,211 | 344 | 36,555 | |
| ____ | ______ |