THE LORDE CHOSEN CHARISIA4TIC MPANY LIMITED BY GUARANTEE AL MINISTRIE Com R Istration N mber 05578120 land Wales Cha Num 1111927 Re rt of theTnrteg8 and Unaudited Flnancial Slatements Perlod of Accou End Oa 31 h 2024
THE LORD'S CHOSEN CHARISMATIC REvfvAL MINISTRIES COMPANY LIMITED BY GUARANTEE Contents of the Financial Statements F r thg Porlod Ended 31 March 2024 CONTENTS PAGE M8Mr of the Board and PrirfeBsional advisara Tntstw Annual Rgport 2&3 Raporta of th& Indgpondent oxamln statem•nt of flnanclal a¢tlvit19S Balance Sheet Noto8 to the Flnanclal Statements 7t012
THE LORD. CHOSEN CHARISMATIC REVIVAL MINISTRIES COMPANY LIMITED BY GUARANTEE the Boanl and P ional For tho P•riod Ended 31 March 2024 R•glstsred Gharity name THE LORD'S CHOSEN CHARISMATIC REVIVAL MINISTRIES Charity Numbor C¢xnpany Raglstratlon Number 05678120 IErvJland and W4168) Roglster•d Office 3 Herringham Road Charlton London SE7 8NJ 8oard of Trutyte09 Pa8tor Lazarus Muok• Mrs J¢)y Muoka Ison Iweka Odunze Charf•s G8orye Oforybu Accountsnts T. T . ACCOUNTANCY SERVICES UNIT 19. NICE BUSINESS PARK SYLVAN GROVE LONDON SE15 1PD TEL 02039741266 Page 1
THEL RD CHOSEN CHARISMATIC REVIVAL MIN COMPANY LIMITED BY GUARANTEE Trustees Annual Re For tho Period Endod 31 March 2024 The Tru$t¢es. who are also dITe(lO for the purpose of etyYwany1ow, have pleasure in presenting their report and the {Jnaudi financial statwnènts of the charity for the year ended 31 March 2024. REFERENCE AND ADMINISTRATION DEfAILS Reference and admini5tralion details are shown in the Schedu of m8mbets of the board and professional afviSe on p8ge 1 of finsncial statem8nts. TRUSTEES The Trustse8 who garvad the charlty durfng tho pgriod were as follows: P88tor Lazaru8 Muoka Joy Muoka Wilson Iweka O(Junze Char$ George Ofoegbu STRUCTURE, GOVERNANCE AND MANAGEMENT The charity was incorporated as a company Iimrted by guaranloe on 29 September 2005 and is governed by an Arti¢le and fvkmorarKJum of Assocj'alion. Appointment of Tru$lo8s w8r& initialty by recommendatKJn of the ekleTS of thg Church and approved by the church mBrntrs. Athfttes organlsed In lurtheranca of the objeGtives include regular Sunday churth 8er¥lw. rnlkJlou$ Conventions, 8emlnar8 and troining w0$hOp$. OBJECTIVES AND ACTMTIES The main objectives of the charity are the advancement of christr'an faith. the rell8f of $i¢kness, poverty and the adv8ricment of educattin in accoanCe with Christian prinopb$. ACHIEVEMENTS AND PERFORPAANCE The church started in 2CrtM as o f•lbwship of • f•w people vtho m8t at the home of the members. The number grew and soon rented a prnIseS for the Sunday Servi$. To the glory of God. the church has now established and is growing stronger in tho Lord with manrfeslalion of God's mirack on her nn)ers and everyone who rneS into contact with God of Chosen. The church has been Incorporat as a company limited by guarantee and obtained a charitable status. Page 2
E LORD. CHOSEN CHARISMATIC MPANY LIMITED BY GUARANTEE TTUStees Annual Ro For the Perlod Endod 31 March 2024 RESPONSIBILITIES OF THE TRUSTEES The Trustees Iwho are aL80 the directors ofthe Lord's Chosen CharisnHtic RevNal Ministries for the purpose of comp8ny lawl, a responsible for preparing the Tfustee5 Annual Report and thg Fin8ncial Statement in accordance wth aPpIable law and United Kingdorn Ac£ounting Standards (United Kingdom Generalty A(xeOab A¢UntIng PraGtiGg). Company law requires the Trustees to prepare Finanu81 Statement Wh give true and fair view of the state of affairs of the Charitab company and of the incoming and appIlble of resources, induding the InMe and expendiiures of the tharitable company for thal period. In Preparing these Financol Statemerts. the Tfustees are requwed to.. Select suitable accounting policies and 8ppty Ihern ¢ionsistentty'. Observo th• methods and principles in the ¢harit008 SORP,. Make judgments and ostimates that are reasonable and prLKlent'. Prepar¢ the finanual ststsments on a going conrn basls it ig inappropriate lo assum8 that the Charty will contwiue in operation. Tho Trustees are regponsibl8 for keeping proFer o¢Gounting r)rdS that dlsclose wilh re8sonable accuracy at any time the finanryal powtion of the tharty eryny and 8nsure that the Financial StatenI compty with the Comp8ny Act and Charitab Act 1993. The trustee5 are also responsible for safeguarding assets of the charity and henc6 taking rgasonable Steps for the prevention and detection of fraud and other irregularrt*8. ACCOUNTANTS A resolution to appoint T T Accountsncy Servw as Accountants for the ensuring year will bè proposed at the Annu81 Gener41 Nknlin9. CHARLES GEORGE OFOEGBU WILSON IWEKA ODUNZE Autori$gd Slgnatories Pago 3
THE LO D'S CHOSEN CHARISAIATIC R COMPANY LIMITED BY GUARANTEE Re rts ofthe indg ndent examiner For the Perlod Ended 31 IAirch 2024 I report on the accounts of the tharty for the ar ended 31 March 2024 s& oui on pages6to11 RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAM114ER As the charitys Iiustees you are iesponsible for the preparation of the acccounts, you cOnSeT that the audit rgquirgmenl of section 43{2) of the Charitie5 A( 1993 (the Act), as amended by $.28 of the Chariti8s Act 2006 does not apply. It is my res[KJnSlIIty to." examine accounts u1 sectKJn 43 of the Act as alrnded. to follow procedures spe¢fied in the General Directions grven by the Challty CommiSsnerS utwjer sedion 43171{bl of the ArA as amended. and to state wheter particular matters have to my attention. BASIS OF INDEPENDENT EXAMINER'S STATEMENT My examination was carrd out in accordance with the General DirectnS given by the Charrties Commissioners. An examinab.on includes a revw of the aecounting records kept by tha charity and in ¢orrYrisn of the accounts Prasent wrth those records. 11 also include8 consideratn of any unusual items or dthures in the accounts, and seeking exp18natK)ns fr¢)m you as trustees concerning any $u¢h mattw5. The procedures undertaken do not prov•Je all the evKlenc that would be rg4uired in an audit, and consequentty I do not express an audit opinion on the view gNen by the aGcounts. INDEPENDENT EXAMINER'S STATEMENT In connection wf(h my examinatn, no motter has corrn to my attentlon.. 11 whth gThi8s me reasonabkg caus• to bolwe that in any matèrial the requlrements.. + to keep accounting iecords in accordance whh sedion 41 of the ACL and • to ppare accounts which accord wrth the ac£ounting records and to Mpty with the accountin9 requirerrEnl¥ of the Att have not Ixen mel, or 2) to whlch, in ry opinion, atsTrtn shoukl be drawn in order to enable a proper unders unts to be re THOMA AT Accountant r. T. ACCOUNTANCY SERVICES UNIT 19, NICE BUSINESS PARK 1945 SYLVAN GROVE LONDON SE15 1PD Page 4
THE LORD% CHOSEN CHARI MATIC REVIVAL MINISTRI COMPANY LIMrrED BY GUARA Statemgnt of Financlal Activiti Incor oratin the income and ex r ended 31 March 2024 ndi Unrestriwf Funds 2024 Unrestrfcted unds 2023 INCOMING RESOURCES NOTES Incoming resour from generating funds Voluntary Income Other incomè resources Investmènt incw TOTAL INCOMING RESOURCES 292,491 541 42 382.630 292,533 382.630 292,533 RESOURCES EXPENDED Charitable a¢tivf(ies Governance costs TOTAL RESOURCES EXPENDED 285,808 6.323 292.131 247,646 5,325 252,971 NET INCOMING {OR OUTGOING) RESOURCES FOR THE YEAR 90,499 39,562 Tot81 funds brought I03rd (plusldefiut) 39.662 39,433 Totslfunds carrledfoThTd 130.061 78,995 The St8tementofFlnancl•lActlvltles Include allgakns andloss•sln Ih•yearand therelore astatementoffvfalr•cognlzedgalnsandlosses has notbeenprnparnd. All of theaboveamounts rnlate to contlnuthgactlvltles The notes onpagès 7t0 10f0part0tIhese Ilnanclal$tatenwnts.
THE LORD'S CHOSEN CHARISMATIC R COMPANY LIMITED B GUARANTEE Balance sheet as at 31 L MINISTRIE h 2024 2024 2023 NOTES FIXED ASSErs Tangibl8 assests Total Fixed Assets 13.989 13,989 13,724 13,724 CURRENT ASSETS Debtors and Prepayments Cash al bank and in hand Total Curr•nt Assets 10 li 138.373 138.373 66.021 66,021 CREDITORS Amount falling due within a year Nel current assets 750 750 137,623 151,612 65,271 78,995 FUNDS Unreslrictad incomeIabIlItY funds TOTAL FUNDS 1S1.612 151,612 78.995 78.995 For thg year8nd 31st March 2024 Ihe company w8$ 8nbW to exempt from autht unders8Ctwi 4T7 of the comp8nbs Act 2QJ6. The members have notrequffed th8 comp8ny lo obtsin an Slit iii &xx)rdm th section 476 ofthe compan8 Act 2006. The cllrnctorfs acknowbdge thglr responslbHty for L?)mpl wtth the r8quTrments ol th8 Act t respect to 8¢coun&ng records and forlhe preparnt1 ofaccounts. These 8ccounts have been prnp8rnd in aGcord8nce 1th the wovisions arvlioble to companies subi8cl lo sm811 con7panies regime and fft accord8rKe I1 the Flnanoal Re&rtIng Standanl for SM8lbrEnlrts (Effethe 2lL). The notes on pages 7 to 10 bmi part oflhese fin8nd81 $18tenwits. Tre Financ1 St•ten7ents was 8pproved by th& 808nlofDirnGtss on Ihe 301h January 2025 SIGNED ON BEHALF OF THE BOARD BY: CHARLES GEORGE OFOEGBU WILSON IWEKA ODUNZE Authorlsed slgnatories Pago 6
THE LORD'S CHOSEN CHARISMATIC MPANY LIMITED BY GUAIiANTEE Notes to the Financial tements Year End 1 March 2024 AL MINISTRIES 1 A¢counting pollcles The pnncipal accounting policies arn $ummarised bel(Ml. The accounting policies have been applEd consistentty throughout the ar and thè preceding year. 1.1 Basis ol prnparatlon of accounts These accounts have been prepared under the hislofical ¢St basis convention 8nd in aCcOrd8n with applicab United ngdOM Accounting Standards the statenI of RecL)mnknded PraCti"A(oUrtkn.ng and Repoiting by thantEs' wued n March 2005 {SORP) and the Company Ad 21M. 1.2 Incomlng r•soureas All incoming resources are inctuded in the statsThnt of financial acvths vthen th8 charity is entitlgd to the income and th& amount can be qUantifd with oasonab accuracy. The folltr•ving swofic Pol ar6 appld to partiCl8r ealegoms of inoym.. Voluntary Inrne 18 receiied by way of grants, donations and grts and is induded in full in the statement of finanaal actNrtw when rl¥able. Grants where entsuernnt Is not cond6tional on the d81ivery of a Spear perfOrnn by the ¢hanty, are recogni88d the charity becomes uncondit)nalty enliiled to the grant. Donated seNiCaS and f#eilrties are induded at the value to the charity wthere this can e quanlffied. The value of servKes proved by volunteers has not been included. Gffts donated for rosale are Induded a$ ific¢)ming rosourcm wilhin athitw for generating fund¥ when they are SOKI. Income from Invesknènts 15 induded in the in which it is receivab. 1.3 Resour¢o8 EXnded ExpenditL¢re is recognised on an accrual basis as a liabilty is incurred. Expendlture includes any VAT whieh cannot be fvlty recovered. and rap)rt•d as part of the expendrture to which it r•lates. Costs of g8n8r8bng fvnds comprise the créts wih atlrath"wA Nduntsry Charilauè •xptyidibJre comprises oflkna LY by the canty in th• dlr¥ry of its acbvities and SWWfor ts Lnef1. li fA>sts Ihat b& alk)cat8d dir• to such 8etMIM ar¥J Ilwe of8n irMl*ed [lu rBary 10 SUFlt Ihem. Page 7
THE LORD'S CHOSEN CHARI MATIC REVIVAL COMPANY LIMITED BY UARANTEE tes to the Financial Statements Y•ar En ed 31 Idarch ISTRIES 1.4 Tanglbl• Ilx8d sets and d•w8clknn over its expected useful lifa 8$ folcth&" Fixture, fittings and equiwi•nt Ve 25% 25% I IntMentS Currnnt 8Stst irN881ments *• st IhB of cogt ngt ro91ffjth val. Page 8
THE LORD'S CHOSEN CHARI MATIC REVIVA COMPANY LIM TED BY GUARANTEE o the Financial Ststements Continued Year Ended 31 March 2 INISTRIES 2 VOLUNTARY INCOME Unre#rfcted Funds 2024 Funds 2023 Donations 382,089 292.491 382.089 292,491 3 OTHER INCOME RESOURCES UnrMtrlct•d Funds 2024 Unrnstricled funds 2023 Other materiais 4 INVESTMENT INCOME Total Funds 2024 Total fund8 2023 Bank Intorost Rocelvabl• 541 42 Page 9
THE LORD'S CHOSEN CHARI MATIC REVNAL COMPAKY LIMITED BY GUARANTEE Notes to flnanclal Statem ofthein JSTRIES 5 COSTS OF CHARITABLE ACTIVITIES BY ACTivFfY TYPE Unrestricted Funds 2023 FurKIs 2024 Rent and Rate5 charitab DonalionlHonorarium Hosprtaltymelfare to morrthrB Transport and Travelling Hotel and Accomodation AdvertiSennI & PromtionTrAi¥sion Molof Expenses Tèlephone & Computer IT Insur8nce & Council tsx others Utilty and others L wjhl, Gas and Heats'ng Pfinbng , Postage and statne3 Equipmant expensed Subsistence Repairs & Malntsnanco Professional Fees Piotedive dothing 8ank Charges Other Expenses 64.424 43.130 65,628 24,281 17.777 11. 67,853 23,582 53.744 47,460 10,727 5,815 668 761 1,035 1,325 7,973 2,997 2.655 12.247 3,326 10.176 30.Y34 850 597 642 5.639 247,646 285,808 8 GOVERNANCE COSTS Unrestricted Funds Total 2024 2023 Accountancy Fees Legal and Professional Fees Interest payable Depreciation Totsi 750 750 3.377 4127 6,323 7 NET INCOMEI(oiTfGOING) RESOURCES FOR THE YEAR 2023 Thls is stated after charging 39,562 Pagg 10
THE LORD'S CHOSEN C ARFSMATIC REIfflIAL MINISTRIE COMPANY LIMITED BY GUARANTEE estot Fi temen Co l March 2024 rEnd 8 STAFF COSTS AND EMOLUMENTS 2024 2023 Total staff costs were asfollows Wages and salaries & social security costs Particularof employees The average number of empw duringtheyearcaicuiated on the basis ol Il-time equivalent was nilduringthe year. No employee received emolument of mOthan £60,000 duringthe period 9 TANGIBLE FIXED ASSETS Equlyment Moiorvehlc FutrifLi&f< a FlttEngs Total COST As at 01.04.2023 Additons 6,370 13.724 4.929 18,653 4,929 11,584 6.370 Deprecatlon As at 01.04.23 Chargetor the year As at 31.03.24 Net Book Value At 31.03.24 1,593 175 2,896 524 8.688 13,989 As at 01.04.23 370 10 DEBTORS 2024 Amount8 oN%*d by group undertakings and undertaking in which the chartty has a parts'cipaling Niterest other debtors Page 11
THE LORDS CHOSEN CHARISMATIC REVIVAL MINISTRIES LIMITED BY UARANTEE ' ¥CIAL STATEMENTS ial Statements Continued Contents of 11 CASH AT BANK AND IN HAND 2024 HSBC a'fr31397087 HSBC a'fr31397095 HSBC a'c-91521519 HSBC Manchester Cash in Hand 13.403 59.435 58.687 138.373 12 CREDITORS: Amount lalllng T*lthln a y 2v24 Bank Loan and Ovordrafts A¢¢rual Creditors 750 750 13 UNRESTRICTED INCOME FUNDS Bal at Incorning Outgolng 0110412023 Ro8ourc•• Resour¢ At 31 Mar 2024 39.562 382,630 292.131 130.061 Unrestricted lunds are used forthe dayto day runnlng of the Iiarily opeidlion. 14 ANALYSIS OF NEf ASSETS BETWEEN FUNDS Tanglble Flxed assets Not curr•rt Totsl 13.989 750- 13239 IS COMPANY LIMITED BY GUARANTEE The company i8 Ilmited bv ouarantee and therefore has no sharè eapital. Every member undertakès to eontribute such amount as may be required but not exceeding £10 to assets of the ctxnpany in the event of a wnding up. Page 12