SPIRIT OF LIFE CHURCH Registered charity no: 1099059 Financial Report and Accounts for the year ended 31ST JULY 2024 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 Prakash Trustee Ognyan Mihaylov Trustee
Registered charity number
1099059
Contact Details
Unity Chapel Romney Avenue BRISTOL BS7 9ST Phone:01179070850 Email:admin@spiritoflife.org.uk
Bankers
Accountants
Lloyds Bank AL Accounting Solutions Chartered Certified Accountants 21A Brighton Road South Croydon, Surrey CR2 6EA
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SPIRIT OF LIFE CHURCH
Registered charity no: 1099059 Financial Report and Accounts for the year ended 31ST JULY 2024
Trustees Report
The Trustees' present their annual account for the period of accounts.
Principal activity and objectives
• the advancement of the christian faith worldwide in accordance with the doctrines set out in the statement of faith contained in the schedule
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the relief of the poor and needy
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the furtherance of religious or secular education
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such other charitable objects and for the benefit of such other charitable institutions as the trustees in their absolute discretion shall think fit.
Review of the period of accounts and future developments
At the Annual General Meeting of the Charity, the trustees acknowledged the financial state of the charity and was pleased with the financial year. Efforts are being made to maintain the charity reserve and improve income. The charity has recognised that a number of regular financial donors have now moved location and are contributing elsewhere. Expenditure for the year has been forecast and only needed maintenance work will be done on the church property.
Trustees were pleased that the charity has zero debt.
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)
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SPIRIT OF LIFE CHURCH
Registered charity no: 1099059
Financial Report and Accounts for the year ended 31ST JULY 2024 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:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
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.....................................................
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SPIRIT OF LIFE CHURCH
Registered charity no: 1099059
Financial Report and Accounts
Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31ST JULY 2024
| Unrestricted Funds Notes £ Incoming resources: Voluntary Donations 40,430 Gift Aid Receipt 6,079 Total Incoming resources 46,509 Resources Expended: Resources Expended 4 & 5 59,690 Total Resources Expended 59,690 Net Surplus / (Deficit) for the year (13,181) Opening Funds 160,541 Closing Funds 147,360 |
2024 £ 40,430 6,079 46,509 59,690 59,690 (13,181) 160,541 147,360 |
2023 £ 51,663 5,868 |
|---|---|---|
| 57,531 | ||
| 53,819 | ||
| 53,819 | ||
| 3,712 156,829 |
||
| 160,541 |
No restricted funds at the end of the year
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SPIRIT OF LIFE CHURCH Registered charity no: 1099059 Financial Report and Accounts
Balance Sheet as at 31ST JULY 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed Assets | |||||
| freehold Building at cost | 120,000 | 120,000 | |||
| Other tangible fixed asest | 2 | 10,123 | 6,026 | ||
| 130,123 | 126,026 | ||||
| Current Assets | |||||
| Debtors and loans | 2,910 | - | |||
| Cash at Bank | 16,952 | 36,121 | |||
| 19,862 | 36,121 | ||||
| Less: Current Liabilities | 3 | (2,625) | (1,606) | ||
| Net Current Assets | 17,237 | 34,515 | |||
| 147,360 | 160,541 | ||||
| REPRESENTED BY: | |||||
| Unrestricted Funds | 147,360 | 160,541 | |||
| 147,360 | 160,541 | ||||
| Signed on behalf of the trustees |
………………………………. Date ………………………………. Reverend Dia Moodley (Chair)
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SPIRIT OF LIFE CHURCH Registered charity no: 1099059 Financial Report and Accounts
Notes forming part of the financial statements for the year ended 31ST JULY 2024
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: - Equipment & Furniture 20%
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.
2. Other Tangible Fixed Assets
| Cost: As at 1 August 2023 Additions As at 31ST JULY 2024 Depreciation: As at 1 August 2023 Charge As at 31ST JULY 2024 Net Book Value: As at 1 August 2023 As at 31ST JULY 2024 |
Equipment & Fittings £ 33,414 6,628 40,042 27,388 2,531 29,919 6,026 10,123 |
Total £ 33,414 6,628 |
|---|---|---|
| 40,042 | ||
| 27,388 2,531 |
||
| 29,919 | ||
| 6,026 10,123 |
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SPIRIT OF LIFE CHURCH
Registered charity no: 1099059 Financial Report and Accounts
Notes forming part of the financial statements for the year ended 31ST JULY 2024
| 3. Creditors (amount falling due within one year) Accruals Inland Revenue - PAYE/NI Pension liability 4. Resources Expended Outreach & Evangelism Honararium & Donations Vicarage Allowance Salaries & Pension cost Rates & Water Light & heat Telephone & Internet Repairs, Renewals & Maintenance Bank Charges Sundry Expenses 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) |
2024 £ 660 1,965 - 2,625 2024 Total £ 1,984 120 12,000 24,346 1,982 2,840 2,062 9,073 22 145 1,100 660 825 2,531 59,690 £ 24,346 12,000 36,346 |
2023 £ 810 754 42 |
|---|---|---|
| 1,606 | ||
| 2023 Total £ 5,631 - 12,000 25,028 1,473 1,772 1,798 2,147 - 100 245 1,340 778 1,507 |
||
| 53,819 | ||
| £ 25,028 12,000 |
||
| 37,028 |
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Registered Charity No: 1099059
SPIRIT OF LIFE CHURCH Financial Report and Accounts
for the year ended 31ST JULY 2024
AL Accounting Solutions Limited Chartered Certified Accountants 21A Brighton Road South Croydon, Surrey CR2 6EA
SPIRIT OF LIFE CHURCH
Registered charity no: 1099059 Financial Report and Accounts for the year ended 31ST JULY 2024 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 |