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2022-03-31-accounts

THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES COMPANY LIMITED BY GUARANTEE

Company Registration Number 05578120 (England and Wales)

Charity Number 1111927

Report of theTrutees and Unaudited Financial Statements

Period of Accounts

Start Date: 1st April 2021

End Date: 31st March 2022

THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES COMPANY LIMITED BY GUARANTEE Contents of the Financial Statements For the Period Ended 31 March 2022

CONTENTS PAGE
Members of the Board and Professional advisers 1
Trustees Annual Report 2 & 3
Reports of the independent examiner 4
Statement of financial activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 12

THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES COMPANY LIMITED BY GUARANTEE

Members of the Board and Professional advisers

For the Period Ended 31 March 2022

Registered charity name THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES Charity Number 1111927

Company Registration Number 05578120 (England and Wales)

Registered Office

3 Herringham Road Charlton London SE7 8NJ

Board of Trustees Pastor Lazarus Muoka Mrs Joy Muoka Wilson Iweka Odunze Charles George Ofoegbu

Accountants T. T . ACCOUNTANCY SERVICES UNIT 19, NICE BUSINESS PARK 19-35 SYLVAN GROVE LONDON SE15 1PD TEL 02039741266

Page 1

THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES COMPANY LIMITED BY GUARANTEE

Trustees Annual Report For the Period Ended 31 March 2022

The Trustees, who are also directors for the purpose of company law, have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 March 2022.

REFERENCE AND ADMINISTRATION DETAILS

Reference and administration details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements.

TRUSTEES

The Trustees who served the charity during the period were as follows:

Pastor Lazarus Muoka Joy Muoka Wilson Iweka Odunze Charles George Ofoegbu

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity was incorporated as a company limited by guarantee on 29 September 2005 and is governed by an Article and Memorandum of Association. Appointment of Trustees were initially by recommendation of the elders of the church and approved by the church members. Activities organised in furtherance of the objectives include regular Sunday church services, religious conventions, seminars and training workshops.

OBJECTIVES AND ACTIVITIES

The main objectives of the charity are the advancement of christian faith, the relief of sickness, poverty and the advancement of education in accordance with Christian principles.

ACHIEVEMENTS AND PERFORMANCE

The church started in 2004 as a fellowship of a few people who met at the home of the members. The number grew and soon rented a premises for the Sunday services. To the glory of God, the church has now established and is growing stronger in the Lord with manifestation of God's miracle on her members and everyone who comes into contact with God of Chosen. The church has been incorporated as a company limited by guarantee and obtained a charitable status.

Page 2

THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES COMPANY LIMITED BY GUARANTEE

Trustees Annual Report For the Period Ended 31 March 2022

RESPONSIBILITIES OF THE TRUSTEES

The Trustees (who are also the directors of the Lord's Chosen Charismatic Revival Ministries for the purpose of company law), are responsible for preparing the Trustees Annual Report and the Financial Statement in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acceptable Accounting Practice).

Company law requires the Trustees to prepare Financial Statement which give true and fair view of the state of affairs of the charitable company and of the incoming and applicable of resources, including the income and expenditures of the charitable company for that period.

In preparing these Financial Statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity company and ensure that the Financial Statement comply with the Company Act 2006 and Charitable Act 1993. The trustees are also responsible for safeguarding assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

ACCOUNTANTS

A resolution to appoint T T Accountancy Services as Accountants for the ensuring year will be proposed at the Annual General Meeting.

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CHARLES GEORGE OFOEGBU WILSON IWEKA ODUNZE Autorised Signatories

Page 3

THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES COMPANY LIMITED BY GUARANTEE

Reports of the independent examiner For the Period Ended 31 March 2022

I report on the accounts of the charity for the year ended 31 March 2021 set out on pages 6 to 11

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER

As the charity's trustees you are responsible for the preparation of the acccounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act), as amended by s.28 of the Charities Act 2006 does not apply. It is my responsibility to: examine accounts under section 43 of the Act as amended, to follow procedures specified in the General Directions given by the Charity Commissioners under section 43 (7)(b) of the Act as amended, and to state wheter particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER'S STATEMENT

My examination was carried out in accordance with the General Directions given by the Charities Commissioners. An examination includes a review of the accounting records kept by the charity and in comparision of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

INDEPENDENT EXAMINER'S STATEMENT

In connection with my examination, no matter has come to my attention:

1) which gives me reasonable cause to believe that in any material respect the requirements:

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THOMAS FATUROTI Accountant

T. T. ACCOUNTANCY SERVICES UNIT 19 , NICE BUSINESS PARK

19-35 SYLVAN GROVE

LONDON

SE15 1PD

Page 4

THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES COMPANY LIMITED BY GUARANTEE Statement of Financial Activities

(incorporating the income and expenditure account) Year ended 31 March 2022

INCOMING RESOURCES
NOTES
Incoming resources from generating funds
Voluntary Income
2
Other income resources
3
Investment income
4
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Charitable activities
5
Governance costs
6
TOTAL RESOURCES EXPENDED
NET INCOMING (OR OUTGOING)
RESOURCES FOR THE YEAR
7
Total funds brought forward (plus/deficit)
Total funds carried forward		 Unrestriced
Funds
2022
£
230,273
-
1
230,274
230,274
214,611
4,127
218,738
11,536
27,897
39,433		 Unrestricted
Funds
2021
£
161,000
395
15		 Unrestricted
Funds
2021
£
161,000
395
15
161,410
161,410
141,441
2,781
144,222
17,188
10,709
27,897

The Statement of Financial Activities include all gains and losses in the year and therefore a statement of total recognized gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

The notes on pages 7 to 10 form part of these financial statements.

Page 5

THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES COMPANY LIMITED BY GUARANTEE Balance sheet as at 31 March 2022

NOTES
FIXED ASSETS
Tangible assests
9
Total Fixed Assets
CURRENT ASSETS
Debtors and Prepayments
10
Cash at bank and in hand
11
Total Current Assets
CREDITORS
Amount falling due within a year
12
Net current assets
FUNDS
Unrestricted income/liability funds
TOTAL FUNDS		 2022

£
-
33,909		 2021
£
£
10,125
10,125
-
22,957
22,957
850
29,308
39,433
39,433
39,433		 £
5,790
5,790
22,107
33,909
4,601
27,897
27,897
27,897

For the year ended 31st March 2022 the company was entitled to exemption from audit under section 477 of the companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the companies Act 2006.

The director's acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (Effective 2008).

The notes on pages 7 to 10 form part of these financial statements. The Financial Statements was approved by the Board of Directors on the 22nd December 2022

SIGNED ON BEHALF OF THE BOARD BY:

CHARLES GEORGE OFOEGBU WILSON IWEKA ODUNZE Authorised signatories

Page 6

THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES COMPANY LIMITED BY GUARANTEE Notes to the Financial Statements Year Ended 31 March 2022

1 Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.

1.1 Basis of preparation of accounts

These accounts have been prepared under the historical cost basis convention and in accordance with applicable United Kingdom Accounting Standards the Statement of Recommended Practice "Accounting and Reporting by charities" issued in March 2005 (SORP) and the Company Act 2006.

1.2 Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.

Income from investments is included in the year in which it is receivable.

1.3 Resources Expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of tradingfor fundraising purposes including the charity's shop.

Charitable expenditure comprises of those costs incurred by the charity in the delivery of its activities and servicesfor 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.

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THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES COMPANY LIMITED BY GUARANTEE Notes to the Financial Statements (Continued) Year Ended 31 March 2022

1.4 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each assets over its expected useful life as follows: Fixture, fittings and equipment 25% Vehicle 25%

1.5 Investments

Current asset investments are at the lower of cost and net realisable value.

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THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES COMPANY LIMITED BY GUARANTEE Notes to the Financial Statements (Continued) Year Ended 31 March 2022

2 VOLUNTARY INCOME
Donations
3 OTHER INCOME RESOURCES
Other materials
4 INVESTMENT INCOME
Bank interest Receivable		 Unrestricted
Funds
2022
£
230,273
230,273
Unrestricted
Funds
2022
£
Total
Funds
2022
£
1		 Unrestricted
Funds
2021
£
137,305
137,305
Unrestricted
funds
2021
£
Total
funds
2021
£
1

Page 9

THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES COMPANY LIMITED BY GUARANTEE Notes to the financial Statements (Continued) Reports of the independent examiner

5 COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE

Rent and Rates
Charitable Donation/Honorarium
Hospitality/Welfare to members
Transport and Travelling /Hotel
Advertisement & Promotion/Mission
Motor Expenses
Telephone & Computer IT
Insurance & Council tax others
Utility and others
Printing and Stationery
Equipment expensed
Subsistence
Repairs & Maintenance
Professional Fees
Protective clothing
Bank charges
Other Expenses
6 GOVERNANCE COSTS
Accountancy Fees
Legal and Professional Fees
Interest payable
Depreciation
Total
7 NET INCOME/(OUTGOING) RESOURCES FOR THE
This is stated after charging		 Unrestricted
Unrestricted
Funds
Funds
2022
2021
£
£
92,943
48,049
5,718
16,174
48,483
16,949
20,136
6,338
1,589
2,141
1,501
815
799
1,761
1,277
1,564
19,888
231
2,537
601
4,430
4,898
3,706
5,483
9,847
468
605
383
700
4,546
4,178
214,611
114,127
Unrestricted
Funds
Total
2022
2021
£
£
750
750
158
-
-
3,377
3,099
4,127
4007
YEAR
2022
2021
£
£
11,536
17,188		 Unrestricted
Funds
2021
£
48,049
16,174
16,949
6,338
2,141
815
1,761
1,564
231
601
3,706
9,847
468
605
700
4,178
114,127
Total
2021
£
750
158
-
3,099
4007

Page 10

THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES COMPANY LIMITED BY GUARANTEE Notes to the Financial Statements (Continued) Year Ended 31 March 2022

8 STAFF COSTS AND EMOLUMENTS
Total staff costs were as follows
Wages and salaries & social security costs
Particular of employees		 2022
2021
£
£
Nil
Nil

The average number of employee during the year calculated on the basis of full-time equivalent was nil during the year.

No employee received emolument of more than £60,000 during the period

9 TANGIBLE FIXED ASSETS

9 TANGIBLE FIXED ASSETS
Equipment
£
COST
As at 01.04.2021
7,119
Additons
4,206
11,325
Deprecation
As at 01.04.21
Charge for the year
As at 31.03.22
2,832
Net Book Value
At 31.03.21
8,493
As at 01.04.21
7,119
10 DEBTORS
Amounts owed by group undertakings
and undertaking in which the charity
has a participating interest
other debtors		 Equipment
£
7,119
4,206		 Motor Vehicle
Furniture &
Fittings
Total
£
£
£
1,243
934
9,296
4,206
11,325 1,243
934
13,502
2,832 311
234
3,377
8,493 932
700
10,125
1,243
934
9,296
2022
£
-

Page 11

THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS (Continued)) Contents of the Financial Statements

11 CASH AT BANK AND IN HAND 2022 £ HSBC a'c-31397087 9,184 HSBC a'c-31397095 5,286 HSBC a'c-91521519 19,440 Cash in Hand 33,909

12 CREDITORS: Amount falling due within a year

2022 £ Bank Loan and Overdrafts - Accrual 750 Creditors 3,851 4,601

13 UNRESTRICTED INCOME FUNDS

Bal at Incoming Outgoing At 31 Mar 01/04/2021 Resources Resources 2022 £ £ £ £ 27,897 230,274 - 218,738 39,433

Unrestricted funds are used for the day to day running of the Charity' operation.

14 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible Net current Total Fixed assets liaibilities £ £ £ 10,125 4,601 - 5,524

15 COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee and therefore has no share capital. Every member undertakes to contribute such amount as may be required but not exceeding £10 to assets of the company in the event of a winding up.

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