OpenCharities

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

2020-08-31-accounts

REGISTERED COMPANY NUMBER: 05218144 (England and Wales) REGISTERED CHARITY NUMBER: 1110619

Report of the Trustees and

Audited Financial Statements for the Year Ended 31 August 2020

for

THE LIGHTHOUSE CHAPEL INTERNATIONAL

THE LIGHTHOUSE CHAPEL INTERNATIONAL

Contents of the Financial Statements for the Year Ended 31 August 2020

Page
Report of the Trustees 1 to 6
Report of the Independent Auditors 7 to 9
Statement of Financial Activities 10
Balance Sheet 11
Cash Flow Statement 12
Notes to the Cash Flow Statement 13
Notes to the Financial Statements 14 to 23

THE LIGHTHOUSE CHAPEL INTERNATIONAL (REGISTERED NUMBER: 05218144)

Report of the Trustees for the Year Ended 31 August 2020

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The advancement of the Christian religion.

Page 1

THE LIGHTHOUSE CHAPEL INTERNATIONAL (REGISTERED NUMBER: 05218144)

Report of the Trustees for the Year Ended 31 August 2020

OBJECTIVES AND ACTIVITIES

Furthering the Objectives

The charity requires that all bone fide members must be born again Christians, who publicly and openly profess to have consciously and willingly accepted Jesus Christ as Lord and Saviour of their lives.

The charity shall be maintained and operated by means of contributions from members, private individuals, organisations or associations who share the objectives and aspirations of the charity and from revenues derived from its assets or business. All donations and contributions are non-refundable and shall be disbursed as the trustees see fit.

A member may be dismissed or excluded at any time if it is in the interest of the charity. On the dismissal or exclusion of a member, the latter cannot make claims to any of the charity's assets, possessions or funds no matter the extent or amount of donations and contributions ever made to the charity.

The charity requires that all members believe that all activities of their lives must be guided and directed aright by the Word of God, which is the Bible.

Every member of the charity shall be free to leave the charity at any time.

All Leaders of any kind or occupying whatsoever position shall have a higher requirement and responsibility and must fulfil the following five (5) rules for leadership within the charity. They must: -

b. be filled with the Holy Ghost and speak in Tongues;

d. believe in and adhere to the Founding Ideals, viz. the Vision, Doctrines, Principles, Philosophy, Practices, Standards, and Spirit of the Ministry of the charity, and

e. have unflinching loyalty to the charity.

The charity aims to achieve its objective of preaching the Word of God through regular Sunday church meetings as well as two mid-week services. This was not possible from 22 March 2020 when the government required all places of worship to close due to the coronavirus pandemic.

There are also special one-off programmes such as conventions where visiting ministers are invited to preach and minister the Word of God. Members are also trained to live morally upright lives and be good examples in the communities in which they live.

The charity serves to provide a means through which people can seek God and lead lives based on sound Christian doctrine.

The main church has a choir that spreads the Gospel of Jesus Christ through Gospel concerts and singing during regular Church services.

Page 2

THE LIGHTHOUSE CHAPEL INTERNATIONAL (REGISTERED NUMBER: 05218144)

Report of the Trustees for the Year Ended 31 August 2020

OBJECTIVES AND ACTIVITIES

Pastoral care coordinators continue to offer one-on-one support and counselling to members and non-members of the church. These range from marriage counselling to dealing with bereavement, finding life partners, issues of abandonment and abuse, depression, illnesses, old age, debt, children, spiritual guidance and prayer. The tele-pastoring team also provide immediate confidential prayer support to both members and non-members. This makes a huge difference in the lives of many of the most vulnerable members. During the pandemic tele-pastoring efforts have greatly increased to support members who have lost relatives and are caring for sick family members. Tele-pastors are on hand who have made calls on a daily basis throughout the pandemic.

Two services were held each week (Sundays and Wednesday) using zoom and Facebook Live with watch parties. During offering time, the bank details are projected and congregants give their offerings via online banking. This has completely eliminated cash handling and we hope to continue even when in-person services resume. Church attendance has actually increased during the pandemic due to the fact that people are able to join from all over the world. We will be maintaining our on-line services even when in-person resumes and run them alongside.

The Youth group have worked very hard, bringing the life changing message of Jesus Christ to the young people in the various councils. Gang members and drug users have had their lives changed as a result of hearing the good news of Salvation through Jesus Christ. Many have become leaders and are also giving pastoral care to their other young people. The youth have set up 'Wacenters' which is a coined word for WhatsApp groups where they share the word of God and encourage each other. They also have zoom services every Wednesday so they do not lose touch with the church members.

The Remember The Poor ministry has not been able to do any visits during the pandemic but they hope to resume as soon as restrictions are lifted. In the meantime the ministry have been praying for the homeless in groups throughout the week.

As a result of the pandemic, there has been no camp meeting. We are looking forward to having more camps when the restrictions are lifted.

STRATEGIC REPORT

Principal funding sources

The charity is maintained and operated by means of contributions from members, private individuals, organisations or associations that share the objectives and aspirations of the charity and from revenues derived from its assets or business. All donations and contributions are non-refundable and shall be disbursed as the trustees see fit.

Investment policy and objectives

The trustees are of the opinion that the performance of the charity from a financial standpoint is in line with their expectations and plans for the charity.

The trustees are pleased with the performance of the investment properties during the year under review.

The charity does not currently analyse its funds into different classes or categories. All the funds are maintained in a single general fund.

Page 3

THE LIGHTHOUSE CHAPEL INTERNATIONAL (REGISTERED NUMBER: 05218144)

Report of the Trustees for the Year Ended 31 August 2020

STRATEGIC REPORT

Future plans

The trustees plan to grow the membership from its present level and will continue to focus on refining and developing existing operations to the highest possible standards.

Regarding the financial position of the charity, the trustees are pleased both at the balance sheet date and at the date of the trustees' report. The outlook for the continued operations of the charity remains good.

The Trustees confirm that in their opinion: -

Adequate assets are available to fulfil the obligations of the charity, having regard to any likely delays or shortfalls in realising assets into cash.

No commitments or guarantees have been undertaken, other than those disclosed in the accounts.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The governing document of the charity is the Memorandum and Articles of Association of the company, limited by guarantee 'The Lighthouse Chapel International'.

Organisational structure

The charity is managed and controlled by the trustees, who are also members of the Council of Management as described in the governing document. Currently all trustees are also directors of the company limited by guarantee.

Trustees meet at least four times a year to make management and policy decisions.

Related parties

The trustees are of the opinion that no related party transactions took place during the year under review.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05218144 (England and Wales)

Registered Charity number

1110619

Registered office

2A Carden Road Nunhead London SE15 3UD

Trustees

C Amaning J Baiden E Ansa - Asamoah

Page 4

THE LIGHTHOUSE CHAPEL INTERNATIONAL (REGISTERED NUMBER: 05218144)

Report of the Trustees for the Year Ended 31 August 2020

REFERENCE AND ADMINISTRATIVE DETAILS

Company Secretary

J Hyde

Senior Statutory Auditor

Muhammad Imran Ashraf

Auditors

Sigma Chartered Certified Accountants & Registered Auditors Kelvin House Kelvin Way Crawley West Sussex R10 9WE

Bankers

HSBC 29 High Street Ashford Kent TN24 8TG

Accountant

Richard Samson Chartered Accountant 21 Coldharbour Lane London SE5 9NR

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of The Lighthouse Chapel International for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

Page 5

THE LIGHTHOUSE CHAPEL INTERNATIONAL (REGISTERED NUMBER: 05218144)

Report of the Trustees for the Year Ended 31 August 2020

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

In so far as the trustees are aware:

AUDITORS

The auditors, Muhammad Imran Ashraf, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 28 May 2021 and signed on the board's behalf by:

J Baiden - Trustee

Page 6

Report of the Independent Auditors to the Members of The Lighthouse Chapel International

Opinion

We have audited the financial statements of The Lighthouse Chapel International (the 'charitable company') for the year ended 31 August 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Page 7

Report of the Independent Auditors to the Members of The Lighthouse Chapel International

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 8

Report of the Independent Auditors to the Members of The Lighthouse Chapel International

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Muhammad Imran Ashraf (Senior Statutory Auditor) for and on behalf of Sigma Chartered Certified Registered Auditors Kelvin House Kelvin Way Crawley West Sussex R10 9WE

28 May 2021

Sigma Accountants Limited

Page 9

THE LIGHTHOUSE CHAPEL INTERNATIONAL

Statement of Financial Activities for the Year Ended 31 August 2020

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Investment income
3
Other income
Total
EXPENDITURE ON
Raising funds
4
Charitable activities
5
Kenya Church Building
Pentecostal World Fellowship Gift
Bogoso Church Building
Kwame Danso Church Building
Sefwi Essam Gable and Trusse Church
Building
Spintex Church Building
Gable and Beams Church Building
Nkwanta Church Building
Kasaran Church Building
Anagkazo projects in Mampong
Healing Jesus Crusade
Caribbean Missions
First Love Church
Other
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2020
Unrestricted
fund
£
1,918,352
94,349
-
2,012,701
948,508
-
-
10,277
-
7,401
-
-
13,085
-
1,045,001
787
13,899
5,000
78,134
2,122,092
(109,391)
4,806,779
4,697,388		 2019
Total
funds
£
1,872,398
100,935
163
1,973,496
861,520
14,999
1,548
4,421
16,684
10,689
19,402
33,089
68,048
36,035
650,000
815
-
-
-
1,717,250
256,246
4,550,533
4,806,779

The notes form part of these financial statements

Page 10

THE LIGHTHOUSE CHAPEL INTERNATIONAL (REGISTERED NUMBER: 05218144)

Balance Sheet 31 August 2020

Notes
FIXED ASSETS
Tangible assets
12
Investment property
13
CURRENT ASSETS
Debtors
14
Cash at bank
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
16
Unrestricted funds
TOTAL FUNDS		 2020
Unrestricted
fund
£
2,123,733
1,911,999
4,035,732
57,000
621,456
678,456
(16,800)
661,656
4,697,388
4,697,388
4,697,388
4,697,388		 2019
Total
funds
£
2,160,784
1,911,999
4,072,783
57,871
694,444
752,315
(18,319)
733,996
4,806,779
4,806,779
4,806,779
4,806,779

The financial statements were approved by the Board of Trustees and authorised for issue on 28 May 2021 and were signed on its behalf by:

J Baiden - Trustee

The notes form part of these financial statements

Page 11

THE LIGHTHOUSE CHAPEL INTERNATIONAL

Cash Flow Statement for the Year Ended 31 August 2020

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
Net cash used in investing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 2020
£
(31,978)
(31,978)
(41,083)
-
73
(41,010)
(72,988)
694,444
621,456		 2019
£
320,334
320,334
(108,484)
1,724
78
(106,682)
213,652
480,792
694,444

The notes form part of these financial statements

Page 12

THE LIGHTHOUSE CHAPEL INTERNATIONAL

Notes to the Cash Flow Statement for the Year Ended 31 August 2020

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

OPERATING ACTIVITIES
Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Profit on disposal of fixed assets
Interest received
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net cash (used in)/provided by operations		 2020
£
(109,391)
78,134
-
(73)
871
(1,519)
(31,978)		 2019
£
256,246
81,448
(163)
(78)
(26,500)
9,381
320,334

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.19 Cash flow At 31.8.20
£ £ £
Net cash
Cash at bank 694,444 (72,988) 621,456
694,444 (72,988) 621,456
Total 694,444 (72,988) 621,456

The notes form part of these financial statements

Page 13

THE LIGHTHOUSE CHAPEL INTERNATIONAL

Notes to the Financial Statements for the Year Ended 31 August 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Tangible fixed assets are stated at the lower of cost and net realisable value. Depreciation is normally provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Fixtures, fittings and equipment - 25% Reducing balance

Buildings - Values reviewed annually

The trustees carried out a detailed review of the fixed assets held by the charity at the balance sheet date.

The trustees are of the opinion that the net realisable value of buildings is greater than cost and no depreciation has been charged, during the year under review, in respect of buildings.

Investment property

Investment property is shown at fair value.

Taxation

The charity is exempt from corporation tax on its charitable activities.

continued...

Page 14

THE LIGHTHOUSE CHAPEL INTERNATIONAL

Notes to the Financial Statements - continued for the Year Ended 31 August 2020

1. ACCOUNTING POLICIES - continued

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

3.

DONATIONS AND LEGACIES
Donations
INVESTMENT INCOME
Rents received
Deposit account interest		 2020
£
1,918,352
2020
£
94,276
73
94,349		 2019
£
1,872,398
2019
£
100,857
78
100,935

Page 15

continued...

THE LIGHTHOUSE CHAPEL INTERNATIONAL

Notes to the Financial Statements - continued for the Year Ended 31 August 2020

4. RAISING FUNDS

Raising donations and legacies
Support costs
5.
CHARITABLE ACTIVITIES COSTS
Bogoso Church Building
Sefwi Essam Gable and Trusse
Church Building
Nkwanta Church Building
Anagkazo projects in Mampong
Healing Jesus Crusade
Caribbean Missions
First Love Church
6.
GRANTS PAYABLE
Kenya Church Building
Pentecostal World Fellowship Gift
Bogoso Church Building
Kwame Danso Church Building
Sefwi Essam Gable and Trusse Church Building
Spintex Church Building
Gable and Beams Church Building
Nkwanta Church Building
Kasaran Church Building
Anagkazo projects in Mampong
Healing Jesus Crusade
Caribbean Missions
First Love Church		 2020
£
948,508
2020
£
-
-
10,277
-
7,401
-
-
13,085
-
1,045,001
787
13,899
5,000
1,095,450		 2019
£
861,520
Grant
funding of
activities
(see note
6)
£
10,277
7,401
13,085
1,045,001
787
13,899
5,000
1,095,450
2019
£
14,999
1,548
4,421
16,684
10,689
19,402
33,089
68,048
36,035
650,000
815
-
-
855,730

Page 16

continued...

THE LIGHTHOUSE CHAPEL INTERNATIONAL

Notes to the Financial Statements - continued for the Year Ended 31 August 2020

6. GRANTS PAYABLE - continued

The total grants paid to institutions during the year was as follows:

Kenya Church Building
Bogoso Church Building
Kwame Dando Church Building
Sefwi Essam Gable and Trusse Church Building
Spintex Church Building
Gable and Beams Church Building
Nkwanta Church Building
Kasaran Church Building
Anagkazo projects in Mampong
Healing Jesus Crusade
Pentecostal World Fellowship Gift
Caribbean Missions
First Love Church
7.
SUPPORT COSTS
Raising donations and legacies
Other resources expended
8.
NET INCOME/(EXPENDITURE)		 Management
£
933,778
78,134
1,011,912		 2020
£
-
10,277
-
7,401
-
-
13,085
-
1,045,001
787
-
13,899
5,000
1,095,450
Finance
£
14,730
-
14,730		 2019
£
14,999
4,421
16,684
10,689
19,402
33,089
68,048
36,035
650,000
815
1,548
-
-
855,730
Totals
£
948,508
78,134
1,026,642

Net income/(expenditure) is stated after charging/(crediting):

2020 2019
£ £
Depreciation - owned assets 78,134 81,448
Surplus on disposal of fixed assets - (163)

continued...

Page 17

THE LIGHTHOUSE CHAPEL INTERNATIONAL

Notes to the Financial Statements - continued for the Year Ended 31 August 2020

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.

10. STAFF COSTS

2020
£
Wages and salaries
325,710
Other pension costs
5,939
331,649
The average monthly number of employees during the year was as follows:
2020
Ministry
1
Administrative
5
6
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Kenya Church Building
Pentecostal World Fellowship Gift		 2019
£
322,668
4,655
327,323
2019
1
5
6
Unrestricted
fund
£
1,872,398
100,935
163
1,973,496
861,520
14,999
1,548

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

continued...

Page 18

THE LIGHTHOUSE CHAPEL INTERNATIONAL

Notes to the Financial Statements - continued for the Year Ended 31 August 2020

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Bogoso Church Building
Kwame Danso Church Building
Sefwi Essam Gable and Trusse Church
Building
Spintex Church Building
Gable and Beams Church Building
Nkwanta Church Building
Kasaran Church Building
Anagkazo projects in Mampong
Healing Jesus Crusade
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD		 Unrestricted
fund
£
4,421
16,684
10,689
19,402
33,089
68,048
36,035
650,000
815
1,717,250
256,246
4,550,533
4,806,779

continued...

Page 19

THE LIGHTHOUSE CHAPEL INTERNATIONAL

Notes to the Financial Statements - continued for the Year Ended 31 August 2020

12. TANGIBLE FIXED ASSETS

COST
At 1 September 2019
Additions
At 31 August 2020
DEPRECIATION
At 1 September 2019
Charge for year
At 31 August 2020
NET BOOK VALUE
At 31 August 2020
At 31 August 2019
COST
At 1 September 2019
Additions
At 31 August 2020
DEPRECIATION
At 1 September 2019
Charge for year
At 31 August 2020
NET BOOK VALUE
At 31 August 2020
At 31 August 2019		 Freehold
property
£
1,461,895
-
1,461,895
57,891
29,823
87,714
1,374,181
1,404,004
Fixtures
and
fittings
£
16,418
4,300
20,718
14,137
1,645
15,782
4,936
2,281		 Improvements
to
Plant and
property
machinery
£
£
641,842
260,326
-
36,783
641,842
297,109
24,628
142,011
12,344
29,579
36,972
171,590
604,870
125,519
617,214
118,315
Motor
vehicles
Totals
£
£
18,970
2,399,451
-
41,083
18,970
2,440,534
-
238,667
4,743
78,134
4,743
316,801
14,227
2,123,733
18,970
2,160,784

continued...

Page 20

THE LIGHTHOUSE CHAPEL INTERNATIONAL

Notes to the Financial Statements - continued for the Year Ended 31 August 2020

13.
INVESTMENT PROPERTY
FAIR VALUE
At 1 September 2019
and 31 August 2020
NET BOOK VALUE
At 31 August 2020
At 31 August 2019
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Pension contributions payable
Accrued expenses
16.
MOVEMENT IN FUNDS
At 1.9.19
£
Unrestricted funds
General fund
4,806,779
TOTAL FUNDS
4,806,779		 2020
£
57,000
2020
£
8,242
-
8,558
16,800
Net
movement
in funds
£
(109,391)
(109,391)		 £
1,911,999		 £
1,911,999
1,911,999
1,911,999
2019
£
57,871
2019
£
8,067
1,694
8,558
18,319
At
31.8.20
£
4,697,388		 2019
£
57,871
2019
£
8,067
1,694
8,558
18,319
4,697,388

continued...

Page 21

THE LIGHTHOUSE CHAPEL INTERNATIONAL

Notes to the Financial Statements - continued for the Year Ended 31 August 2020

16. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above
Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
2,012,701
2,012,701
At 1.9.18
£
4,550,533
4,550,533
are as follows:
Incoming
resources
£
1,973,496
1,973,496		 Resources
expended
£
(2,122,092)
(2,122,092)
Net
movement
in funds
£
256,246
256,246
Resources
expended
£
(1,717,250)
(1,717,250)		 Movement
in funds
£
(109,391)
(109,391)
At
31.8.19
£
4,806,779
4,806,779
Movement
in funds
£
256,246
256,246

continued...

Page 22

THE LIGHTHOUSE CHAPEL INTERNATIONAL

Notes to the Financial Statements - continued for the Year Ended 31 August 2020

16. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.9.18
£
4,550,533
4,550,533		 Net
movement
in funds
£
146,855
146,855		 At
31.8.20
£
4,697,388
4,697,388

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
3,986,197
3,986,197		 Resources
expended
£
(3,839,342)
(3,839,342)		 Movement
in funds
£
146,855
146,855

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2020.

18. ANALYSIS OF FUNDS

£

Realised funds 2,941,676 Revaluation reserve 44,000 ____ Total funds 2,985,676

Page 23