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← Spirit Of Life Church

2023-07-31-accounts

SPIRIT OF LIFE CHURCH Financial Report and Accounts for the year ended 31ST JULY 2023 Legal and administrative information

Status

The organisation was registered as a charity on 19 August 2003 under the old name Revival Ministries UK. In 2009 the charity name was changed to Spirit of Life Church.

Current List of Trustees

Rev DIA MOODLEY Chair Victor Antonysamy Trustee, appointed 18 December 2023 Ognyan Mihaylov Trustee, appointed 01 October 2020

Registered charity number 1099059 Contact Details Unity Chapel Romney Avenue BRISTOL BS7 9ST Phone:01179070850 Email:admin@spiritoflife.org.uk

Bankers Lloyds Bank Accountants AL Accounting Solutions Chartered Certified Accountants 21A Brighton Road South Croydon, Surrey CR2 6EA

1

SPIRIT OF LIFE CHURCH

Financial Report and Accounts for the year ended 31ST JULY 2023

Trustees Report

The Trustees' present their annual account for the period of accounts.

Principal activity and objectives

Review of the period of accounts and future developments

The trustees are pleased with the state of the accounts. There are plans to further increase the reserve through the next financial year.

Statement of trustees' responsibility

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

By order of the Board

……………………………….

Reverend Dia Moodley (Chair)

2

SPIRIT OF LIFE CHURCH Financial Report and Accounts for the year ended 31ST JULY 2023 Independent Examiner's report to the Trustees

I report to the trustees on my examination of the accounts of the above charity for the above period.

Responsibilities and basis of report:

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement:

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Alhassan Bangura FCCA Chartered Certified Accountants AL Accounting Solutions 21A Brighton Road South Croydon, Surrey CR2 6EA

Date.....................................................

3

SPIRIT OF LIFE CHURCH

Financial Report and Accounts

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31ST JULY 2023

Unrestricted
Funds
Notes
£
Incoming resources:
Voluntary Donations
51,663
Gift Aid Receipt
5,868
Other Income
-
Total Incoming resources
57,531
Resources Expended:
Resources Expended
4 & 5
53,819
Total Resources Expended
53,819
Net Surplus / (Deficit) for the year
3,712
Opening Funds
156,829
Closing Funds
160,541		 2023
£
51,663
5,868
-
57,531
53,819
53,819
3,712
156,829
160,541		 2022
£
45,395
9,638
3,905
58,938
52,668
52,668
6,270
150,559
156,829

No restricted funds at the end of the year

4

SPIRIT OF LIFE CHURCH Financial Report and Accounts

Balance Sheet as at 31ST JULY 2023

2023 2022
Notes £ £ £ £
Fixed Assets
freehold Building at cost 120,000 120,000
Other tangible fixed asest 2 6,026 3,685
126,026 123,685
Current Assets
Cash at Bank 36,121 35,136
36,121 35,136
Less: Current Liabilities 3 (1,606) (1,992)
Net Current Assets 34,515 33,144
160,541 156,829
REPRESENTED BY:
Unrestricted Funds 160,541 156,829
160,541 156,829
Signed on behalf of the trustees

………………………………. Reverend Dia Moodley (Chair)

Date ……………………………….

5

SPIRIT OF LIFE CHURCH Financial Report and Accounts

Notes forming part of the financial statements for the year ended 31ST JULY 2023

1. Accounting policies

a) The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

b) Voluntary income is received by the way of donations towards religious tithes and offerings. Donations received is included in full in the Statement of Financial Activities in the year in which they are received.

c) Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.

d) Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:

e) Unrestricted funds are donations and other incoming resources received for the objects of the charity without further specified purpose and are available as general funds.

f) Restricted funds are to be used for specific purposes as laid down by the donor.

2. Other Tangible Fixed Assets

Cost:
As at 1 August 2022
Additions
As at 31ST JULY 2023
Depreciation:
As at 1 August 2022
Charge
As at 31ST JULY 2023
Net Book Value:
As at 1 August 2022
As at 31ST JULY 2023		 Equipment
£
29,566
3,848
33,414
25,881
1,507
27,388
3,685
6,026		 Total
£
29,566
3,848
33,414
25,881
1,507
27,388
3,685
6,026

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SPIRIT OF LIFE CHURCH Financial Report and Accounts

Notes forming part of the financial statements for the year ended 31ST JULY 2023

3.
Creditors (amount falling due within one year)
Accruals
Wages Control
Inland Revenue - PAYE/NI
Pension liability
4.
Resources Expended
Outreach & Evangelism
Honararium & Donations
Vicarage Allowance
Salaries & Pension cost
Office Cost & Sundries
Telephone & Internet
Repairs, Renewals & Maintenance
Legal & Professional Fees
Accountancy Fees
Insurance & Licences
Depreciation
Total
5.
Related Party transactions
Related party transactions are resources expended to trustees or their relatives
Salaries and wages
Vicarage (contribution towards residency for full time minister
and use of home as church office)		 2023
£
810
-
754
42
1,606
2023
Total
£
5,631
-
12,000
25,028
3,345
1,798
2,147
245
1,340
778
1,507
53,819
£
25,028
12,000
37,028		 2022
£
900
1,092
-
-
1,992
2022
Total
£
4,176
1,258
12,000
24,890
2,693
1,686
1,337
1,725
1,318
664
921
52,668
£
24,890
12,000
36,890

7

Registered Charity No: 1099059

SPIRIT OF LIFE CHURCH Financial Report and Accounts

for the year ended 31ST JULY 2023

AL Accounting Solutions Limited Chartered Certified Accountants 21A Brighton Road South Croydon, Surrey CR2 6EA

SPIRIT OF LIFE CHURCH Financial Report and Accounts for the year ended 31ST JULY 2023 Contents

1 Legal and administrative information
2 Trustees Report
3 Independent Examiner's report
4 Statement of Financial Activities
5 Balance Sheet
6-7 Notes forming part of the financial statements