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2025-03-31-accounts

LOVE AND JOY MINISTRIES LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Charity registration number 1107029

Company registration number 05283980 (England and Wales)

LOVE AND JOY MINISTRIES LTD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Ms A C Hawley Mrs H J Hawley Dr T Omideyi Rev R I Sutton Rev D O Shosanya Mrs U E Ugwu Rev. J O Adereti

Secretary

Secretary Mrs H J Hawley Charity number (England and Wales) 1107029 Company number 05283980 Registered office Oakfield Road Anfield Liverpool Merseyside L4 0UE Independent examiner P Buck FCA, DChA Champion TLL Limited 7-9 Station Road Preston Lancashire PR4 6SN

LOVE AND JOY MINISTRIES LTD

CONTENTS

Page
Trustees' report 1 - 8
Independent examiner's report 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12 - 20

LOVE AND JOY MINISTRIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: 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 (FRS 102)".

Objectives and activities

The objects of the charity are to advance the Christian religion across the world (in accordance with the Articles of Faith set out in the schedule to the Memorandum) and the propagation of the Christian Gospel particularly (but without prejudice to the generality of foregoing) through the medium of music, dance and drama and also by demonstrating the Christian faith through practical help to the most vulnerable in the community including homeless children, young people, the sick and elderly and in particular by:-

Holding meetings for worship and evangelism;

Supporting other Christian organisations with similar objectives;

Supporting the homeless and providing information, technical help, counselling and accommodation;

Supporting young people through the provision of Youth Clubs, holiday time play schemes, skills workshops and educational support programmes;

Supporting the sick and elderly through organised visits and the distribution of gifts donated by the more fortunate members of the community;

Supporting Churches and other community groups through the provision of choirs, drama groups, dance groups, recording facilities, concerts and evangelical events;

Providing pastoral support to churches and ministries across the world, and

To further such other charitable purposes as the trustees in their absolute discretion determine from time to time.

The company was set up in order to take over the assets, liabilities and activities of Love & Joy Ministries Trust and is currently supporting some of the above objectives and activities through its role of providing grants, advice and other services to Liverpool Lighthouse Limited and Bright Park Trust, both Associated organisations it works closely with. LJM stopped providing HR and Payroll services to Liverpool Lighthouse in 2021.

Public benefit

The Trustees have considered the Charity Commission guidelines regarding public benefit and are satisfied that the Charity's activities meet these criteria.

LOVE AND JOY MINISTRIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

Significant activities and achievements against objectives

LJM has a primary mandate of the Great Commission in Matthew 28, "Therefore go and make disciples of all nations, baptising them in the name of the Father and of the Son and of the Holy Spirit, and teaching them to obey everything I have commanded you. And surely I am with you always, to the very end of the age.”

LJM's mission is transformational, engaging with individuals, across communities, cities and nations. The Strategic Plan agreed by the trustees in 2018 and due to end in March 2025 contains 5 main objectives:

  1. Grow church congregations in the UK and beyond.

  2. Show God's love through offering practical life-changing support to the vulnerable.

  3. Set up other charities and work with them to carry out transformational activities.

  4. Work with and support other churches and Christian organisations to spread the gospel. 5. Maximize our assets to deliver our mission.

Our charitable activities are strongly linked to these objectives.

The board devoted a couple of sessions in the board meetings discussing a template proposal of a new Development Plan 2026-2030 for Love and Joy Ministries with the associated charities. It has meant careful review of the achievements of the goals we set out in the 2018-2023 plan which were seriously negatively impacted by the onset of the Covid19 pandemic.

Significant activities and achievements against objectives Major Achievements

When planning our activities for the year, the trustees have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.

LOVE AND JOY MINISTRIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Report on the 5 areas are as follows:

1. Grow church congregations in the UK and beyond

Temple of Praise Liverpool UK (TOP)

Temple of Praise continues to operate as a hybrid church with weekly services both in person and online (YouTube). The multimedia team has grown this year as it continued to train others, both adults and young people. The Executive Leadership Team, supported by the Eldership Team, continues to develop in church management.

Highlights in TOP for the year included the following:

The church has been strengthened this year through greater devotion to prayer and fellowship. Several new people continue to join TOP, although most end up just visiting. Many are from the local community although some are from other cities and abroad. The focus is back on making these into disciples of Christ for the long term, starting with water baptism and Holy Spirit in-filling.

Community Outreach activities have been extremely well received especially among families with young children. There are currently at least 45 children/young people attending TOP regularly. The number of committed adults continues to rise after the drastic fall caused by the Covid19 pandemic.

The women’s ministry is thriving and has enjoyed a wide programme of activities including Bible study, picnics and organised informational healthcare events, supported by doctors within the church family. Plans for a women’s conference in May are well advanced.

Growth in the women’s ministry has inspired the men to also start exploring how to come together in fellowship. Last year, our lead Evangelist and LJM Missions Director Ev. Jean Levene launched a ‘Let’s Sow’ outreach programme, taking small teams on to the streets and engaging with people where they are, out shopping or in front of their houses. One year on, it has become a popular activity in the church with up to 50 people participating during this year. Hundreds of people have heard the gospel message through them and thousands received invitations to evangelistic events. A small number have visited the church, and some stayed.

The JIMH pastoral support house groups have continued to expand as new people have joined the church family.

Start new congregations

A small 4pm Sunday congregation in the same Liverpool Lighthouse venue was stopped after running it for a few years, initially when the building had to be vacated for extensive refurbishment, and then finally when Covid 19 began. It struggled to retain its membership as those that wanted to join the church invariably moved on to the 10am family service.

The development of the online church during Covid gave us a taste of what the impact could be. But it also showed us how much commitment would be needed to maintain it. We have retained this and now view it differently. The quality of the online ministry has continued to improve, although there is much improvement still needed.

LOVE AND JOY MINISTRIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

2. Show God's love through practical life-changing support to the vulnerable

Much of this objective is achieved through the Association of Independent Charities that LJM has established. Liverpool Lighthouse – Community Arts Centre in Anfield Liverpool Bright Park – A vibrant Community wooded park in Knotty Ash

Lighthouse Harmonize Education Trust (Harmonize Academy) - Alternative Provision Academy for young people. Liverpool Lighthouse, the Creative Sanctuary & National Gospel Music Centre

Alongside continued outstanding delivery in core programmes; community, youth, creative health and National Gospel Music Centre, a key focus for 2024/25 involved steps towards a more sustainable financial model for the organisation.

Alongside the creative wellbeing programme, a robust offer of practical support was delivered to maximise mental health and wellbeing outcomes, including free hot meals, food pantry, ESOL and advice and support from our Welfare and Wellbeing team and external partners

An independent researcher from Liverpool University (January-March 2025) investigated the impact of Lighthouse Community programmes:

“When we came over to UK, joining the programme it has helped me mentally, as we were very isolated so joining the community, it has helped me a lot through my stress and the worries, thinking about my family back home in Syria, so I was not feeling lonely after coming.” From a beneficiary.

A film entitled “When you know”, produced around the experiences of people that went through the traumatic experience of the immigration system has been shared within and adopted for educational use by local and national healthcare provider settings. Liverpool Lighthouse is currently engaging with NHS providers regarding future cooperative educational materials / healthcare provision.

The Jewels programme supports female street-based sex workers through a weekly drop in providing a safe space, advice and support, provided with food, clothing and toiletries.

From October 2024 Liverpool Lighthouse became a health ‘Community Champion’, a programme led by public health. This involves working in partnership with GP surgeries and primary care networks to provide opportunities and communication to underrepresented communities with specific health priorities (cardiovascular, cancer screening, vaccination and mental health) and to train and support volunteers to reach underrepresented communities.

LOVE AND JOY MINISTRIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

3. Set up and work with other charities to carry out transformational activities

LJM trustee, Rev Roger Sutton leads Transforming Places – Gather Movement. A wider team from LJM attended the second Intercultural Church and City Transformation Conference in London organised by Gather Movement. With both Tani and Roger being involved in leading Gather Movement, LJM is ideally placed to contribute to the transformational ideas that Gather Movement uses to inspire and catalyze other organisations to do.

Harmonize Academy Three Times Outstanding

We are delighted to announce that Harmonize Academy continues to be an outstanding school for the third time since opening. This follows an Ofsted visit by Ahmed Marikar, HMI on 7th and 8th May 2025 which found that, ‘Harmonize Academy AP Free School had taken effective action to maintain the standards identified at the previous inspection’. The report emphasised that, ‘The school’s values of ‘trust, respect, compassion and forgiveness’ are evident in all aspects of its work’ and that students ‘feel that staff genuinely care about their well-being. As a result, pupils feel happy and safe. Pupils are given a fresh start at this nurturing school.’

Bright Park Matures with a Friends of Park group

Bright Park’s group of volunteers (Friends of Bright Park) continue to make a significant impact. Once again, their work in transforming and maintaining the park environment and activities has earned them recognition from The Royal Horticultural Society and Britain in Bloom NW.

Bright Park continues to engage well with the local community and other community providers. The list of partner organisations has risen to 15 this year, including the Scouts Association now using the park on a weekly basis. In November, Bright Park liaised with a local school to organise and host a community Fireworks Event which was attended by over 500 people. Plans for next year will include a separate bonfire event for SEND families.

4. Work with other churches and Christian organisations to spread the gospel

Temple of Praise remains a committed member of the regional evangelical partnership called Together For Harvest (TFH). TOP is also a member of the National Evangelical Alliance (EA-UK). LJM Chair, Dr Tani Omideyi remains a member of the EA Council. He also this year temporarily took on the role of the chair trustee of Transforming Places UK (Gather UK).

Association of Covenant Churches worldwide

As part of our international mission, leaders from LJM’s Association of Covenant Churches continue to meet monthly on zoom to pray, hear from God, and discuss growth. Several were represented either in person or through video sent or live during the Annual LJM Conference this year.

Current Covenant Churches include:

Word of Grace Church, Leeds UK, Living Grace Assembly, Dublin, Ireland Shaback Ministries, South Africa Shalom Assembly, Manila, Philippines Christian Living Church, India House of Rest, Lagos, Nigeria

We continue to support our LJM Covenant churches with in-kind resources, support and financial and other gifts where needed.

LOVE AND JOY MINISTRIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

5. Maximize our assets to deliver our mission

Hampstead Road property: One of the main goals for the year was to fully refurbish the Hampstead Road property. With the emergency bank loan secured last year, the first and second floors in the property where fully beautifully refurbished to a high standard able to command higher premium. It has been leased to a Letting Company to manage it for LJM for a fixed monthly payment to us. The contract stipulates that the payment to LJM will rise by around 67% on completion of the third and final ground floor in the property. We have started building up the reserve from which to carry out this final program of work.

Liverpool Lighthouse Car Park : The temporary delay in completing the lease hold agreement with Liverpool City Council for the use of the car park was lifted. Documents have now been prepared and with our solicitors awaiting completion.

Liverpool Lighthouse relies heavily upon the grants and charitable giving it receives each year. There has been a positive change in perception and attitude within the Liverpool Lighthouse team with clearer understanding as to the need to approach the running of Liverpool Lighthouse with a stronger drive to generate much needed funds through others using our building or developing and running businesses in partnership that financially benefits Liverpool Lighthouse. A major focus in the coming year will be to look at new ways of generating non-restricted income. The LJM legacy free will writing opportunity offered to Liverpool Lighthouse has not been taken on as there is no staffing capacity to run such a program. There is a newly advertised post for which we are in the process of shortlisting candidates from which to appoint a Promotional & Business Development Manager who will drive this aspect of Liverpool Lighthouse’s activities.

Thank you

LJM’s most precious assets continue to be its amazing team of trustees, staff, volunteers, and leaders of the congregation in TOP Liverpool and across the world through its Covenant Association. We thank God for our friends who trust us enough to continue to support us with their prayers, grants, donations and much - needed advice and encouragement.

The organisation is very thankful to our long-term patrons, John & Rose Lancaster of The Lancaster Foundation, who continue to stand with us financially and in many other ways. Their direct involvement in day-to-day running of their foundation this year has been passed on to their children, headed by Mrs. Anna Lancaster. The strong relationship with the Foundation has continued, for which we are most thankful.

There was an unexpected blessing when another family Larry and Christel Backert based in the USA, contacted us with a pledge to become a major donor to Love and Joy Ministries UK. They have faithfully kept their word and now support LJM financially.

Financial review

The financial result for the year under review is a deficit of £7,522.

Cash resources are held in the bank's current and deposit accounts and the Directors consider their level to be no more than adequate in view of future developments.

Reserves policy

The trustees have examined the requirements for free reserves, which are those unrestricted funds not invested in fixed assets, designated for specific purposes or otherwise committed. The Trustees consider that currently, given the nature of our work, this should be approximately enough to cover 6 months worth of expenditure which in 2025 was in effect £125,000, which gives flexibility to cover short term timing differences for grant claims and adequate working capital for our core costs. However the Trustees keep this under regular review as circumstances change.

The unrestricted reserves at 31 March 2025 consist of the general reserves of £623,556. However, these reserves are represented wholly by fixed assets. Cash reserves at 31 March 2025 were £22,744.

LOVE AND JOY MINISTRIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Investment policy

Investment policy and objectives

The Trustees have the power to invest in such assets as they see fit. Surplus funds are invested with The Royal Bank of Scotland plc.

Plans for future periods

In the next twelve months, LJM will complete the review and approve its Strategic Plan and goals for 2026-30.

Goals to be agreed in the review

Confident of the future sustainability of LJM with its associated charities – Liverpool Lighthouse and Bright Park, the board will consider embarking on a drive to secure investments in the assets within the association which includes three properties, three rooftop mobile masts, and a 6-acre wooded land. These will be subject to successful investors being found to partner with us.

Stronger emphasis on income generation in all areas of the association through which to substantially increase the unrestricted income across the independent charities.

Stronger technical team and facilities in place through which to run a thriving hybrid church with satellite congregations in the UK and beyond

Strong and vibrant charity boards across the association charities with anointed leaderships

All activities in TOP will be driven by a commitment to grow the TOP congregation in Liverpool in size and depth of relationship with God and each other with a strong focus on intercultural church, fellowship, and unity.

Working with others

Establish a national network of strong support and joint ownership of the National Gospel Music Festival in the UK. The network to include churches, Christian organisations and philanthropists.

Establish a sustainable vehicle through which a regular gospel music festival would be funded.

LJM and Liverpool Lighthouse, who together pioneered the establishment of Harmonize Academy in Liverpool will support the school to achieve its growth objectives, setting up similar schools in other regions in the country.

LJM to continue to work with the unity organisations TFH and CTMR and Gather Movement to share the good news of the Lord Jesus Christ as the Saviour for every man, woman and child.

LJM to continue to provide services and spiritual leadership to other charities and churches within both LJM Associations (AIC and ACC). It will continue to develop support for its covenant partners worldwide.

As needed LJM will continue to support both Liverpool Lighthouse and Bright Park with grants, encouragement, skills, and prayers.

Structure, governance and management

The charity is a company limited by guarantee.

LOVE AND JOY MINISTRIES LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Ms A C Hawley Mrs H J Hawley Dr T Omideyi Rev R I Sutton Rev D O Shosanya Mrs U E Ugwu Rev. J O Adereti

The trustees' report was approved by the Board of Trustees.

.............................. Dr T Omideyi Trustee

Date: ......19[th] December 2025......................

LOVE AND JOY MINISTRIES LTD

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LOVE AND JOY MINISTRIES LTD

I report to the trustees on my examination of the financial statements of Love and Joy Ministries Ltd (the charity) for the year ended 31 March 2025.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement - matter of concern identified

I have completed my examination. I have identified a matter of concern.

Without qualifying my report, I draw attention to the disclosures in the Trustees’ report and note 20 to the financial statements concerning the Charity’s financial position. As set out therein, the Charity incurred a deficit for the year ended 31 March 2025 and at the balance sheet date had limited unrestricted cash resources, as well as net current liabilities. The trustees have prepared the financial statements on a going concern basis on the grounds that the Charity expects to generate sufficient income to meet its obligations as they fall due. My opinion is not modified in respect of this matter.

I confirm that apart from the matter of concern set out above, no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I confirm that there are 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 financial statements to be reached.

Champion TLL Limited P Buck FCA, DChA 7-9 Station Road Hesketh Bank Preston Lancashire PR4 6SN Date: ............................

LOVE AND JOY MINISTRIES LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 3 207,848 202,689
Other trading activities 4 39,054 74,738
Total income 246,902 277,427
Expenditure on:
Charitable activities 5 244,791 364,509
Other expenditure 11 9,633 -
Total expenditure 254,424 364,509
Net expenditure and movement in funds (7,522) (87,082)
Reconciliation of funds:
Fund balances at 1 April 2024 631,078 718,160
Fund balances at 31 March 2025 623,556 631,078

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

LOVE AND JOY MINISTRIES LTD

BALANCE SHEET

AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 13 776,638 623,177
Current assets
Debtors 14 37,538 108,933
Cash at bank and in hand 22,744 128,295
60,282 237,228
Creditors: amounts falling due within 16
one year (99,883) (97,260)
Net current (liabilities)/assets (39,601) 139,968
Total assets less current liabilities 737,037 763,145
Creditors: amounts falling due after
more than one year 17 (113,481) (132,067)
Net assets 623,556 631,078
The funds of the charity
Unrestricted funds 18 623,556 631,078
623,556 631,078

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on ......19[th] December 2025...................

..............................

Dr T Omideyi Trustee

Company registration number 05283980 (England and Wales)

LOVE AND JOY MINISTRIES LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Love and Joy Ministries Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Oakfield Road, Anfield, Liverpool, Merseyside, L4 0UE.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: 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 (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds are free reserves that have been designated by the trustees for specific purposes. These are further disclosed in the notes to the accounts.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

LOVE AND JOY MINISTRIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property Over useful economic life of 50 years Leasehold improvements Over useful economic life of 50 years Plant and machinery 25% on reducing balance Fixtures and fittings 25% on reducing balance Computer equipment 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

LOVE AND JOY MINISTRIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 207,848 202,689

LOVE AND JOY MINISTRIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

3 Income from donations and legacies

(Continued)

Included in the Grants received figure is £72,000 received from Lancaster Foundation.

4 Income from other trading activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Non-charitable trading activities 29,049 28,638
Fundraising events 10,005 46,100
Other trading activities 39,054 74,738
5 Expenditure on charitable activities
Christian Christian
activities activities
2025 2024
£ £
Direct costs
Staff costs 80,755 83,975
Depreciation and impairment 21,050 18,973
Enter ac905 in database 132 (1)
Telephone and internet 601 750
Light and heat 1,928 4,766
Programee expenses 13,316 12,246
Rent and rates 31,614 31,538
Property costs 4,373 3,604
Insurance 1,949 1,760
Office expenses 135 2,989
Bank charges and interest 3,704 3,604
Legal and professional fees 4,151 7,175
Staff costs 217 301
Motor - (180)
163,925 171,500
Grant funding of activities (see note 6) 79,676 188,899
Share of support and governance costs (see note 7)
Governance 1,190 4,110
244,791 364,509
Analysis by fund
Unrestricted funds 244,791 364,509

LOVE AND JOY MINISTRIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

6 Grants payable

6 Grants payable
Christian Christian
activities activities
2025 2024
£ £
Grants to institutions:
Other 79,676 188,899
-
7 Support costs allocated to activities
2025 2024
£ £
Governance costs 1,190 4,110
Analysed between:
Christian activities 1,190 4,110
8 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets 21,050 18,973

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

Administration
Employment costs
Wages and salaries		 2025
Number
-
2025
£
80,755		 2024
Number
5
2024
£
83,975

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

LOVE AND JOY MINISTRIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

11 Other expenditure

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Financing costs 9,633 -

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Tangible fixed assets

Cost
At 1 April 2024
Additions
At 31 March 2025
Depreciation and
impairment
At 1 April 2024
Depreciation charged in the
year
At 31 March 2025
Carrying amount
At 31 March 2025
At 31 March 2024		 Freehold
property
Leasehold
improvements
£
£
252,032
596,377
-
170,971
252,032
767,348
65,534
167,929
5,041
13,714
70,575
181,643
181,457
585,705
186,498
428,448		 Plant and
machinery
Fixtures and
fittings
£
£
14,408
7,818
-
3,540
14,408
11,358
9,608
7,184
1,200
396
10,808
7,580
3,600
3,778
4,800
634		 Computer
equipment
Total
£
£
36,212
906,847
-
174,511
36,212
1,081,358
33,415
283,670
699
21,050
34,114
304,720
2,098
776,638
2,797
623,177

14 Debtors

Amounts falling due within one year:
Trade debtors
Amounts owed by fellow group undertakings
Prepayments and accrued income		 2025
£
451
20,728
59
21,238		 2024
£
-
25,453
72,480
97,933

LOVE AND JOY MINISTRIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

14
Debtors
Amounts falling due after more than one year:
Other debtors
Total debtors
15
Loans and overdrafts
Bank loans
Other loans
Payable within one year
Payable after one year
Amounts included above which fall due after five years:
Payable by instalments
16
Creditors: amounts falling due within one year
Notes
Bank loans
15
Other borrowings
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
17
Creditors: amounts falling due after more than one year
Notes
Bank loans
15		 (Continued)
2025
£
2024
£
16,300
11,000
37,538
108,933
2025
2024
£
£
131,217
148,953
28,500
60,000
159,717
208,953
46,236
76,886
113,481
132,067
-
75,209
2025
2024
£
£
17,736
16,886
28,500
60,000
2,897
4,531
676
1,137
48,874
13,506
1,200
1,200
99,883
97,260
2025
2024
£
£
113,481
132,067		 (Continued)
2025
£
2024
£
16,300
11,000
37,538
108,933
2025
2024
£
£
131,217
148,953
28,500
60,000
159,717
208,953
46,236
76,886
113,481
132,067
-
75,209
2025
2024
£
£
17,736
16,886
28,500
60,000
2,897
4,531
676
1,137
48,874
13,506
1,200
1,200
99,883
97,260
2025
2024
£
£
113,481
132,067
108,933
2024
£
148,953
60,000
208,953
76,886
132,067
75,209
2024
£
16,886
60,000
4,531
1,137
13,506
1,200
97,260
2024
£
132,067

LOVE AND JOY MINISTRIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Resources At 31 March
2024 resources expended 2025
£ £ £ £
General funds 631,078 246,902 (254,424) 623,556
Previous year: At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
General funds 718,160 277,427 (364,509) 631,078

19 Related party transactions

LOVE AND JOY MINISTRIES LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

19 Related party transactions

(Continued)

Related Charities

Love and Joy Ministries Limited is closely associated with Liverpool Lighthouse Limited, a Charitable Company Limited by Guarantee.

The activities of Liverpool Lighthouse Limited are as follows:

  1. Advance education and training including education through the medium of music, dance and drama.

  2. Demonstrating the Christian faith through practical help to those most vulnerable in the community including those who are homeless, children, young people, the sick and elderly.

  3. Assisting people who are unemployed by the provision of training, support and assistance with the object of enabling such people to obtain gainful employment and improve the condition of their lives.

During the year the charity paid a grant of £59,700 (2024: £156,630) to Liverpool Lighthouse. During the previous financial year the charity gave them an interest free loan of £18,200 to be repaid over 3 years which was further topped up by £5,000 in the year. At the year end date £16,000 was still outstanding on this loan.

Liverpool Lighthouse Limited is the sole trustee of Bright Park (Charity No.526085).The activities of Bright Park are as follows:

  1. The provision of items, services and facilities for any schools for children with special educational needs in the area of benefit:

  2. The promotion of the education of persons who are in need of financial assistance and who are attending or who have at anytime attended a school for children with special educational needs in the area of benefit;

3,To advance the education of persons resident in the area of benefit, particularly those who have special educational needs, in the subjects of the arts, heritage, culture and the environment;

4.To provide or assist in the provision of facilities ie interests of social welfare for recreation or other leisure time occupation of persons resident in the area of benefit who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.

During the year the Charity paid donations of £24,000 (2024:£20,000) to Bright Park, a charity which is closely associated with Love and Joy Ministries, and of which Dr T Omideyi is also a Trustee.

Trustees

During the year the charity has borrowed £60,000 by way of interest free loans from a trustee, or the family of a trustee. Repayments will be made in the 2024/25 year. These loans are shown in creditors under 1 year in the notes to the accounts. The balance at the year end was £28,500 (2024: £60,000)

20 Going Concern

The Charitable Company has made a deficit for the previous 4 years which has reduced the general funds to such a level that they are below the target levels of 6 months (as described in the trustees report). The Directors/Trustees have forecast the next 2 years, which show that strong surpluses are expected to be generated. On this basis the accounts are prepared on a Going Concern basis.