Company re8lStration number.. 05011765 Charity registration number.. 1110939 Word International Ministries, UK IA company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2024 Field Sullivan Llmited 9 Hare & Blllet Road Blackheath SE3 ORB
Word International Minlstries, UK Contents Reference and Administrative Details Trustees, Report 2tolO Independent Examiner's Aeport Ilto12 Statement of Financial Activities 13 Balance Sheet 14tolS Notes to the Financial Statements 16to26
Word Internatlonal Minlstries, UK Reference and Administrative Details Trustees Christine Angeles Roberto Domingo Glenda Inocencio Rosario Lim Shiela Loctugan Christopher Ordanza Stefan Tiran Secretary Charity Reglstratlon Number 1110939 Company Reglstratlon Number 05011765 The tharity is incorporated in England and Wales. 155A Kings Road Chelsea London SW3 5TX Registered Offlce Independent Examlner Field Sullivan Limlted 9 Hare & Billet Road Blackheath SE3 ORB Bankers Barclays Bank Stanmore l The Broadway Stanmore Mlddlesex HA7 4DB Page I
Word International Ministries, UK Trustees, Report The trustees, who are dlrectors for the purposes of company law, present the annual report together with the financial statements and auditors, report of the charltable company for the year ended 31 December 2024. The Trustees of Word International Ministries UK are pleased to present their annual report, together with the financial statements for the year ended 2024. Word International Ministries exists to advance the Chrlstian falth. We are committed to the Word, Gospel, Church and the World. This report provides an overview of the charity's activities, achievements, and financial performance during the year that demonstrates how we are achieving our purpose. It also outlines the strategic direction and prlorities that will guide our work in the coming year. The report has been prepared in accordance with the Statement of Recommended Practice ISORPI for Charlties and the requirements of the Charitie5 Act 2011. We remain committed to transparency, accountability, and the responsible stewardship of all resources entrusted to us. Trustees and officers The trustees and officers servSng durlng the year and slnce the year end were as follows: Trustees.. Christine Angeles (appointed 17 June 20241 Roberto Domingo lappointed 17June 20241 Glenda Inocencio Rosario Lim Shiela Loctugan Christopher Ordanza (appointed 17 June 20241 Secretary.. Stefan Tiran Structure, governance and management Noture of governing document The charity is a company limited by guarantee. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up. The charity operates under the guidance of pastors.. Rene Nepomu¢eno,' and Stefan Tiran, and the board of trustees. All ministerial matter5 are spearheaded by the senior pastor in consultation with the other pastors, the board of trustees and the general members of the charity. All financial and legal matters are decided by the board of trustees with the guidance of the senior pastor. In common with many churches, Word International Ministries UK is heavily reliant on the services of volunteer5 and Breatly appreciates the work they undertake. Page 2
Word International Ministries, UK Trustees, Report Recruitment and oppolntment OA trustees Trustees are selected from amongst the leaders of the church and appointed by majority decision by the trustees and the pastors. The pastors of the church are Rene Nepomuceno, Stefan Tiran, Mon Caseria, Ricardo Araneta and Nordy Loctugan. Major risks ond management of those rlsks Overview The trustees have assessed the major rlsks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to major risks. Objectives and actlvltles Objects and olms The charity's objects are.. l. To encourage and promote worship of God, the edification of bellevers in the Christian faith,. to provide a basis of fellowship among but not limited to Filipino Christians, promote and encourage the propagation of the Gospel of Jesus Christ in different social and ethnic communities,. establish and maintain such ministerial, educational, social and charitaable projects and means such as orphanages and hospice, necessary for the promotion and expression of the love of God and the Gospel of Jesus Christ, in England and Wales and in foreign lands. 2. To gather, assemble and unite together Christians as well as non-christians who wlsh to embrace the aims and purposes of the association. 3. To administer and manage all monies and properties of the association in such a manner that is considered wise or expedient for the advancement of the Gospel of Jesus Christ. The aim of the charlty is to spread the message of the Chrlstian Gospel and in doing so to strengthen families who are members of the chuch and local communlty through various seminars and family actlvities and to reach out and minister to young people who need guidance and directions in making decisions for their future. Publlc benefit The trustees have paid due regard to guidance issued by the Charity Commlssion in deciding what activitles the charity should undertake. When considering the aim5 and objectives in general and those that were to apply for the year, the Trustees have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charltes for the advancement of rellgion. Page 3
Word International Ministries, UK Trustees, Report Financlal review Policy on reserves It is the polScy of the charlty that unrestricted funds held in net current assets which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's of unrestricted fund expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activitSes whlle consideratlon is given to way5 in which additional funds may be raised. Three month's expenditure on unrestricted funds, excludlng designated funds, is budgeted to amount to approximately £50,000 12023: £42,000, 2022: £34,500). Reserves held in net current assets which were not restricted or designated for specific purposes were £180,23512023.. £186,372, 2022.. £158,138, 2021.. £129,219) and represented approximately 9 months unrestricted fund expenditure and this policy has therefore been adequately complled with, Financlal Instruments Objectives andpolicles The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity's policies approved by the board of trustees, whSch provide written principles on the use of financSal derlvatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes. Disclosure of Informatlon to auditor Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. The trustees (who are also the directors of Word International Ministries, UK for the purposes of company lawl are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountlng Practicel, including FRS 102 "The Financial Reporting Standard appllcable in the UK and Republic of Ireland Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfled that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resource5, including its Income and expenditure, of the charitable company for that period. In preparlng these financial statements, the trustees are requlred to: select suitable accounting policies and apply them consistently,. observe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and prudent,, Page 4
Word International Minlstries, UK Trustees, Report state whether applicable accounting standards, comprSsing FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless It 15 inappropriate to presume that the charitable company will continue in business, The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are a150 responsible for safeguardSng the assets of the charStable company and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. Small companies provlsion statement This report has been prepared in accordance with the small companles regime under the Companies Act 2006. Page 5
Word International Ministrles, UK Trustees, Report GOVERNANCE AND PLANNING Three new trustees were appointed in 2024 to strengthen the resilience of the Trltstee Board and local representation of the different communities. The new trustees are.. • Robert Domingo Christine Angeles Christopher Ordanza The trustees meet every two months and have a meeting with the Pastoral team every six months. Key topics for dlscussion include strategy, financial management, accountability, risk management, key strategic projects or events. Annual Planning Annual planning meetings took place for each congregation, Key points were reflection on challenges and learnings during the past year, presentation of the church vision, ratification of church events and plans, and the financlal status of the charity. The planning meetings were attended by the trustees, the pastoral staff, ministry leaders and other key workers of the church. Follow up meetings were organised online throughout the year. WORSHIP The charity continued to conduct Its weekly worshlp services in the slx congregations located in London Chelsea, London Hounslow, Gillingham, West Bromwich. Aylesbury, and Manchester. The new church in Cambridge continues to have monthly worship gatherings. London Chelsea: Sunday worship gatherSngs at Chelsea Methodist 1155A King's Rd, London SW3 STXI, from 3.'00-4'.30pm. London Hounslow: Sunday worship gatherings at United Reformed Church1114 Hanworth Road. TW3 IUFI, from 12.30-2.00pm. Gillingham.. Sunday worship gatherings at St. Augustine Church1192 Rock Avenue M E? SPWI, from 2.'30-4:00pm. West Bromwich.. Sunday worshlp gatherings at Ellm Church {23 Victoria St, West Bromwich B70 BEXI, from 2.30-4.00pm. Aylesbury: Sunday worship gatherings at Mandeville School (Ellen Rd, Aylesbury HP21 BESI, from 11am to 12.30pm. Cambridge.. Monthly worship gatherings at St Mary's Magdalene Church Hall (Church Lane, Brampton. Huntington PE2B 4PFI. Manchester: Sunday worship gatherings at Stockport Town Hall IEdward Street, Stockport, Cheshire SKI 3XEI, from 11am to Ipm. The worship services held at Chelsea Methodist Church and Elim Church West Bromwich were livestreamed, giving members and friends of the church the option of jolnlng servlces from home whenever in-person attendance was not possible. Page 6
Word International Ministrles, UK Trustees, Report NURTURE AND PRAYER Family Centres The purpose of the charity is to nurture the faith and value5 of its members in accordance with the Bible and our Christian tradition. To achieve this objective, house groups Icalled Family Centres/ Fcs) met under the guidance of the pastors, in-person and online. The warm and welcoming environment provides people the opportunity to share experiences, encourage each other, study Scripture, and pray together. Single members of the church and young people were also encouraged to joln Fcs. FC meetings and Sunday worship gatherings are not only important for the spirituèl wellbeing of the community, but help strengthen marriages, tighten family relationships, encourage excellency at work and support Christian value5 more generallv. The pastors prepared weekly dlscussion guides based on the Sunday sermons, which were used during FC gatherings. Word International School of Leadership IWISLI The charity continued its leadership programme. The module taught in 2024 was Hermeneutics - Understandlng God's Word. Collaboration with London School of Theology was paused, as the charity prepares to align its WISL programme with that of other WIN regions. Prayer Meetlngs The year started with a week of prayer and fasting. Furthermore, on every first Saturday of the month, members of WIN congregations In the UK met online to share personal testimonies and concerns, pray for each other, for the church, and the world. PASTORAL CARE With the help of the pastoral staff and key leaders, the charity provided pastoral care to its members through teaching in Family Centres, preaching on Sundays, counselling, mentoring and other special religlous services. The pastors conducted approximately 25 counselling sesslons with couples and young adults, 3 child dedications, 2 weddings, 17 baptlsms, 2 funerals, and led over 300 Sunday worship services, including special services such a5 church anniversaries, Easter and Christmas celebrations. Through pastoral care and religious services, the sacredness and timeless importance of life and relationshlps has been being emphasized. They also form an essential reminder for the community of the enduring relevancy of Christ's teachings and the priceless value of building joyful, close-knlt families. iVIISSION AND EVANGELISM The charity remains wholly committed to sharing the love of God through word and deed. Its falth and beliefs are not limited merely to rellgious activities, but it also upholds that the Biblical teachings and principles are key ingredients for a meaningful and happy life and peace among all people. Page 7
Word International Ministries, UK Trustees, Report Bridges of Hope (Tulay ng Biyayal The charity continued Its support of Bridges of Hope a programme seeking to assist financially poor and underprivlleged people in the Philippines. FAMILY AND COMMUNITY ENHANCEMENT PROGRAMMES The charity remained committed in preserving and strengthening families as primary witnesses of the Christian faith. In 2024 it organized or participated in the following events and activities.. Parenting Seminars, focusing on a wide range of topics. Couples Nlght, in time for Valentine's Day organised for couples in the church. • Men's and Ladies, Fellowships, to support men and women in the church. community, address specific needs, and strengthen friendships. CHILDREN'S MINISTRY The aim of the Sunday school curriculum is three-fold: To help children understand that they too can participate in the redemption plan of God by believing that Christ Is their Saviour. To guide children in their faith steps to yield to the person and transforming power of the Holy Spirit who seeks to conform them to the image and character of Christ. To encourage the children to discover and develop their talents and skills to prepare them for a life of lovlng service in thelr family, the church, and community. In 2023. the kids in the seven WIN UK congregations continued to meet via Zoom for KIDZ time and face-to-face. Every Sunday between 11am and 12noon they spent time learning Bible stories, singing, and sharing in small groups, using the Dig In - Foundations of Faith currlculum. This was complemented with in-person teaching and activities in the local churches. KIDZ time was led by a team of experlenced Sunday school teachers composed of volunteers from all WIN UK congregations. The average weekly attendance was about 40 kids. YOUTH MINISTRY Paulo Villanueva, Nicole Adriano, Maschil DeGuzman, Dalton Mabesa, Patrick Malanog and Joshua Hernandez led the youth ministries in London, Aylesbury, Gillingham, and West Bromwith. These leaders provide important spiritual, character and career development support to the young people of the community. To achleve this objective, the following activities were organised.. Regular Bible studles.. gathering regularly to study the Bible and grow as disciples of Jesus, aspiring for purposeful lives that will beneflt society. About 40 young people attended these online and in-person gatherings. Social outings.. watching movles, bowling outings, trips to the seaside, hiking excursions, and more. Worshlp services.. aside from regular contributions to Sunday worship services Imuslc, medla team, support with kids, ministry), the youth also led the Good Friday worshlp seNice and contributed to the Easter and Christmas services of the church. Page 8
Word Internatlonal Ministries, UK Trustees, Report Family Camp 2024 From 19th to 23rd August 2024, WIN UK hosted its annual family camp at Culford School in Bury St Edmunds. The event brought together around 200 adults and children from various WIN churches across the UK for a tlme of fellowship, learnin8, and spiritual renewal. The theme of the camp, Joined Together,, focused on exploring the meaning and purpose of Christian community. Through daily sessions, worship, and group activities, participants reflected on what it means to be united in Christ and how to Ilve that out in everyday life. In addition to the main gatherings, a range of workshops were offered to help participants grow in specific areas of life and faith. These included sessions on marriage, apologetics, and work & relationships, providing valuable tools and perspectives for Christian Ilving in today's world. The camp was a meaningful time of connectlon, encovragement, and spiritual growth, reinforcing the importance of being joined together in love, purpose, and mi55ion. YOUNG ADULT MINISTRY The ministry for young adults continues to support young professionals as they adjust to life after university. It has a strong emphasis on personal development, character formation, career support and mentoring that is provided by the pastors of the churches. Bible Studies.. Young adult5 met online for fellowship and Bible study, supported by the pastors of the church. Social Gatherlngs.. organised quarterly. SOCIAL OUTREACH In 2024, WIN UK continued to promote a biblical understanding of social ministry as an integral part of worship and devotion to God. This commitment was reflected in the church's ongoing efforts to support families - both within and beyond the WIN UK community - who were facing illness. unemployment, and other hardships. Practical assistance, including financial support, was provided to those in need. For example, two members of our London congregation were diagnosed with cancer and ijnderwent chemotherapy during the year. In addition to the physical and emotional toll, the treatment brought significant financial strain. During this challenging time, the church community came together to offer spiritual encouragementtr pastoral care, and tangible financial help, These acts of compassion exemplify the church's calling to reflect Christ's love not only in word, but also In action. MEDIA TEAM Under the leadership of Christine Inciong, the media team continued to facilltate a professlonal online presence for WIN UK through a regular hybrid set-up for gètherings. the church website, and through engagement on various social media platforms. The media team operate in four departments: comms, website, creative, and technical. The vision of the ministryls to use the internet and social media to serve the church communities. MEMBERSHIPS WITH THE EVANGELICAL ALLIANCE UK, CCLI AND CCPAS The charity continues Its membership wlth the Evangelic31 Alliance in the UK,, the membership number is 230013. Page 9
Word International Ministries, UK Trustees, Report It 15 also a member of CCLI Ichristian Copyrlght Licensin8 Internationall, which is an online subscription service providing chord sheets. lyrics and samples of songs that are used during the Sunday worship services. Finally, the charity is member of Thirtyone'.eight, the churches, Child Protectlon Advisory Service, receiving important advice around safeguarding. Plans for the Future WIN UK remains committed to building strong and vibrant local communities across the seven locations where it currently gathers. Particular attention is being given to consolidating the work in its two newest communities Cambridge and Manchester - with a focus on strengthening leadership and laying firm foundations for future growth. Across all locations, the development of local leadership teams comprising pastor5, ministry heads, and Family Centre IFC) leaders continues to be a priority. To support their growth, the charity is implementing ongoing, targeted training, includlng a pastoral care course planned for 2025. There is also a renewed emphas5s on youth and young adult minlstries, with regular meetings, events, and initiatives for mentoring, discipleship, and outreach being developed. These efforts aim to equip and empower the next generation of leaders within the church and beyond, The annual report was approved by the trustees of the charity on 8 August 2025 and signed on its behalf bv: lenda Inocencio Trustee Page 10
Word International Ministries, UK Independent Examiner's Report to the trustees of Word International Ministrles, UK ('the Company,) I report to the charity trustees (who are also Directors for the purpose of company lawl on my examlnation of the accounts of the Word International Ministries, UK I'the charitable company'l for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet and related notes. 13 26 This report is made solely to the charitls trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters l am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed. Responslbilitles and basis of report As the charity's trustees of Word Internatlonal Ministries, UK you are responsible for the preparation of the accounts In accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Havlng satisfied myself that the accounts of Word International Ministries, UK are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently l express no opinion as to whether the financial statements present a 'true and fairf vlew and my report is limited to those specific matters set out In the independent examlnerfs statement. Independent examlner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me Cause to believe.. l. accounting records were not kept in respect of Word International Ministries, UK as required by sectlon 386 of the 2006 Act,. or 2. the accounts do not accord with those records,. or 3. the accounts do not comply wlth the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts glve a 'true and fair view, which is not a matter considered as part of an independent examinatlon,. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. 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. Page 11
Word International Ministries, UK Independent Examiner's Report to the trustees of Word International Ministries, UK ('the Company,) Timothy Sulllvan - ICAEW 9 Hare & Billet Road 8lackheath, SE3 ORB Date:..... Page 12
Word Internatlonal Mlni5trles. UK Statement of Flnancial Actlvlties for the Year Ended 31 December 2024 Ilncludlng Income and Expenditure Account and Statement of Total Recognlsed Galns and Losses) Total 2024 Unrestrltted Total 2023 Restrlcted Unrestrlcted Note Restrlcted Income aryd endowments from- Donatlons and legacles Investment Income 232,502 420 232.502 420 196,429 263 5,043 201.472 263 rotal Income 232.922 232.922 196,692 5,043 201,735 Expendlture on.. 1239,0591 1239,0591 1168,4231 112,8821 1181,3051 Total ÉKpendiiure 1239,0591 1239,0591 1168.4231 112,8821 1181,30SI Net movement In funds 16,1371 16.1371 28.269 17,8391 Retonclllatlon of funds 20,430 Total funds brought forward 202,677 477 203,154 174,408 8,316 182,724 Total funds ca¥rled forward 16 196.540 477 197,017 202,677 477 203,LS4 All of the charity's actlvities derlve from contlnuing operatlon5 durlng the above two perlods. The fvnds breakdown for 2023 Is shown in note 16. The notes on pa8es 16 to 26 form Integral part of these flnancial statements. Page 13
Word Internatlonal Ministries, UK (Registration number: 05011765) Balance Sheet as at 31 December 2024 2024 2023 Note Fixed assets Tangible assets 12 3,512 3,505 Current assets Debtors Cash at bank and in hand 13 46,350 172,435 75,842 154,784 14 218.785 230,626 Creditors: Amounts falling due withln one year Net current asset5 15 125,2801 130,9771 193,505 199,649 Net assets 197,017 203,154 Funds of the charity: Restricted Income fund5 Restricted funds 477 477 Unrestrlcted Income funds Unrestricted funds 196,540 202,677 Total funds 16 197,017 203,154 For the financial year ending 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilltles.. The members have not required the charity to obtain an audit of its accounts for the year in question In accordance wSth section 476,. and The dlrectors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The notes on pages 16 to 26 form an integral part of these financial statements, Page 14
Word International Ministries, UK (Registration number: 05011765) Balance Sheet as at 31 December 2024 The financial statements on pages 13 to 26 were approved by the trustees, and authorised for issue on 8 August 2025 and signed on their behalf by,. enda Inocencio Trustee The notes on pages 16 to 26 form an integral part of these financial statements. Page 15
Word International Ministries, UK Notes to the Financial Statements for the Year Ended 31 December 2024 I Charlty status The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charitv in the event of liquidation. The address of its registered office is.. 155A Kings Road Chelsea London SW3 5TX These financial statements were authorlsed for issue by the trustees on 8 August 2025. 2 Accountlng pollcles Summary of slgnificant accountlng pollcles and key accounting estlmates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of compllance The financial statements have been prepared in accordance with Accountlng and Reporting by Charitles.. 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 IFRS 1021 leffective l January 20191 (Charities SORP IFRS 1021 Second edltion October 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply wlth the Companies Act 2006 and Charitles Act 2011. Basis of preparatlon Word International Ministries, UK meets the definition of a publSc beneflt entity under FRS 102. Assets and liabillties are initially recognised at historical cost or transaction value unless othenNise stated in the relevant accounting policy notes. Golng contern The trustees consSder that there are no material uncertainties about the charity's ability to continue as a going concern nor any signiflcant areas of uncertainty that affect the carryin8 value of assets held by the charlty. Exemptlon from preparlng a cash flow statement The charity opted to early adopt Bulletin I published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Page 16
Word International Ministries, UK Notes to the Financial Statements for the Year Ended 31 December 2024 Judgements and key sources of estimatlon uncertainty In the appllcation of the charitvs accounting policies. the trustees are required to make ludgements, estimates and assumptions about the carrylng 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 consldered to be relevant. Actual results may dlffer from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods. Income and endowments All income is recognised once the charity has entitlement to the income, it Is probable that the income will be received and the amount of the income receivable can be measured reliably. Donotlons and legacles Donations are recognised when the charity has been notifled in writing of both the amount and settlement date. In the event that a donation is subject to condltions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those condltions is wholly within the control of the charity and St is probable that these conditions will be fulfilled in the reporting period. Investment Income Interest is recognised once it has been declared and notlfication has been received of the interest due. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, It is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Chorltable actlvities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for Its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Grant provlsions Provisions for grants are made when the intentlon to make a grant has been communicated to the reciplent but there is uncertainty about either the timing of the grant or the amount of grant payable. Page 17
Word International Ministries, UK Notes to the Financial Statements for the Year Ended 31 December 2024 Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas. or per capita, staff costs by the time spent and other cost5 by their usage. Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirernents, including audit, strategic management and trustees meetings and reimbursed expenses, Tax3tlon The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore It meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tanglble flxed assets Individual fixed assets costing £150.00 or more are initially recorded at cost. Depreciation and amortlsation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Asset class Flxtures, FSttings & Equipment Depreciatlon method and rate 2-4 years on a straight line basis Cash and cash equivalents Cash and cash equivalents comprise cash on hand and ¢all deposits, and other 5hort-term highly liquld investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Fund structure Unrestrlcted income funds are general funds that are available for use at the trustees dlscretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees. Restricted income funds are those donated for use in a particular area or for specific purposes. the use of which Is restricted to that area or purpose. Pa8e 18
Word Internatlonal Ministries, UK Notes to the Financial Statements for the Year Ended 31 December 2024 Pensions and other post retirement obligations The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contribution5 even if the fund does not hold sufficient assets to pay all employees the benefits relatin8 to employee seNice in the current and prSor periods. Contributions to defined contribution plans are recognised in the Statement of Flnanclal ActivSties when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. 3 Income from donations and legacles Unrestrlrted funds General Total 2024 Total 2023 Donations and legacies,. Donations from individuals Glft aid reclaimed 196,002 36,500 196,002 36,500 168,644 32,828 232,502 232,502 201,472 4 Investment Income Unrestricted funds General Total 2024 Total 2023 Interest receivable and similar income,. Interest receivable on bank deposits 420 420 263 Page 19
Word International Ministries, UK Notes to the Financial Statements for the Year Ended 31 December 2024 5 Expendlture on Charltable actlvlties Unrestricted Total 2024 Total 2023 General Note Church rent Depreciation of flxtures and fittln8S Staff training Travelling Insurance Ministry expenses Other conferences & training Special events Church camp Grants to individuals Grants to institutions Staff costs Support costs 37,686 2,647 99 37,686 2,647 99 21,760 2,232 304 10,391 1,187 4,770 2,005 10,243 50,290 13,151 12,744 83,337 10,509 10,391 1,187 4,770 2,005 10,243 50,290 13,151 12,744 83,337 10,509 9.748 1,094 4,471 644 21,720 16,943 7,368 9,691 76,014 9.316 239,059 239,059 181,305 6 Analysls of governance and support costs Support costs Unrestricted funds General Total 2024 Total 2023 Independent examiner fees Examination of the financial statements Administration expenses Accountancy 2,490 7,654 365 2,490 7,654 365 2,412 6,904 10,509 10,509 9,316 Page 20
Word International Mlnistries, UK Notes to the Financial Statements for the Year Ended 31 December 2024 7 Grant-maklng Below are details of material grants made to institutions Name of instltutlon Word International Germanv 2024 2023 12,293 6,484 8 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneratlon from the charity during the year. No trustees have received any reimbursed expenses or any other benefSts from the charity during the year. 9 Staff costs The aggregate payroll costs were as follows,. 2024 2023 Staff costs during the year were: Wages and salaries Social security costs Penslon costs 79,800 57 3,480 72,600 294 3,120 83,337 76,014 The monthly average number of persons Ilncluding senior management team) employed by the charlty during the year on a head count basis was as follows.. 2024 No 2023 No Pastoral No employee received emoluments of more than £60,000 during the year. During the year the charity made the following transa¢tions wSth key management personnel., Pastors The Pastors received remuneration of £54,60012023.' £51,000) Page 21
Word International Ministrles, UK Notes to the Financial Statements for the Year Ended 31 December 2024 10 Independent examlney's remuneratlon 2024 2023 Examination of the financial statements 2,490 2,412 11 Taxatlon The charity is a registered charity and is therefore exempt from taxation. Page 22
Word International Mlnistries, UK Notes to the Financial Statements for the Year Ended 31 December 2024 12 Tangible fixed assets Furnlture and equipment Total Cost At l January 2024 Additions 8,798 2,654 8,798 2,654 At 31 December 2024 11,452 11,452 Depreciatlon At l January 2024 Char8e for the year 5,293 2,647 5,293 2,647 At 31 December 2024 7,940 7,940 Net book value At 31 December 2024 3,512 3,512 At 31 December 2023 3,505 3,505 13 Debtors 2024 2023 Prepayments Other debtors 400 46,350 75,442 46,350 75.842 14 Cash and cash equlvalents 2024 2023 Cash on hand Cash at bank 706 617 154,167 171,729 172,435 154,784 Page 23
Word International Ministries, UK Notes to the Financial Statements for the Year Ended 31 December 2024 15 Creditors: amounts falllng due wlthin one year 2024 2023 Other taxation and social security Other creditors Accruals 2,254 1,559 23,026 29,417 25,280 30,977 16 Funds Balance at I January 2024 Incomlng resources Resources expended Balance at 31 December 2024 Unrestricted Generul General Funds 186,372 232,922 {239,0591 180,235 Deslgnoted Building Fund Foreign Mission Fund Benevolent Fund 14,700 709 896 14,700 709 896 16,305 16,305 Total unrestricted 202,677 232,922 1239,0591 196,540 Restrlcted Philippines Calamity Fund 477 477 Total funds 203,154 232,922 {239,0591 197,017 Page 24
Word International Ministries, UK Notes to the Financial Statements for the Year Ended 31 December 2024 Balance at I January 2023 Incomlng resources Resources expended Balance at 31 December 2023 Unrestrlcted General General Funds 158,138 196,657 1168,4231 186,372 Designated Bullding Fund Foreign Mission Fund Benevolent Fund 14.700 674 896 14,700 709 35 896 16,270 35 16,305 Total unrestricted 174,408 196,692 1168,4231. 202,677 Restricted Regional Fund Salary Fund Seeds of Hope Fund 7,839 17,8391 15,0431 5,043 477 477 8,316 5,043 112,8821 477 Total funds 182,724 201,735 1181,3051 203,154 The speclfic purposes for whlch the funds are to be applied are as follows.. Regional Fund - this is for the support of the work of the international network of Word Internatlonal Ministrles overseas. Salary Fund - this represents funds provided for the support of employees of the charity. Philippines Calamlty Fund - this fund was for the support of victims of the typhoon dlsaster In the Philippines but has been re-named so as to cover funds raised for any future disasters in the Philipplnes. Page 25
Word International Ministries, UK Notes to the Financial Statements for the Year Ended 31 December 2024 17 Analysis of net assets between funds Unrestrl¢ted funds General Total funds at 31 December 2024 Restricted funds Tangible flxed assets Current assets Current liabilitSes 3,512 218,308 125,2801 3,512 218,785 125,2801 477 Total net assets 196,540 477 197,017 Unrestricted funds General Total funds at 31 December 2023 Restricted funds Tangible fixed assets Current assets Current liabillties 3,505 230,149 130,9771 3,505 230,626 130,9771 477 Total net assets 202,677 477 203,154 18 Related party transactlons During the year donations of £13,65012023: £9,200) were recieved from trustees and related parties. Page 26