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2022-07-31-accounts

COMPANY REGISTRATION NUMBER: 06302788 CHARITY REGISTRATION NUMBER: 1120761

Marvellous Light Ministries International Company Limited by Guarantee Unaudited Financial Statements

31 July 2022

THOMAS McMANNERS BSC ACA ACMI

Chartered Accountants 269 Farnborough Road Farnborough Hampshire GU14 7LY

Marvellous Light Ministries International

Company Limited by Guarantee

Financial Statements

Year ended 31 July 2022

Page
Trustees' annual report (incorporating the director's report) 1
Independent examiner's report to the trustees 4
Statement of financial activities (including income and
expenditure account) 5
Statement of financial position 6
Notes to the financial statements 7
The following pages do not form part of the financial statements
Detailed statement of financial activities 15

Marvellous Light Ministries International

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 July 2022

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 July 2022.

Reference and administrative details

Registered charity name Marvellous Light Ministries International Charity registration number 1120761 Company registration number 06302788 Principal office and registered 71-75 Shelton Street office Covent Garden London United Kingdin The trustees Archbishop M S Wilson M E Wilson K R Hopkins Company secretary M E Wilson Independent examiner Thomas Mc Manners BSc ACA ACMI 269 Farnborough Road Farnborough Hampshire GU14 7LY

1

Marvellous Light Ministries International

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 July 2022

Structure, governance and management

Structure

The legal name of the charity is: Marvellous Light Ministries International.

The Charity's areas of operation and UK charitable registration

The charity is registered in England and Wales with charity number 1120761 and company number 06302788.

Legal structure of the charity

The charity is constituted as a Charitable Incorporated Organisation established on 5 July 2007 and is governed by its memorandum and articles of association.

Governance

The administrative affairs of the ministry are managed on a day to day basis by Mrs M Wilson and its work is monitored and reviewed by Archbishop M S Wilson.

Objectives and activities

The objectives of the charity are to advance the Christian faith in accordance with the Ministry's Statement of Beliefs in Fleet, Hampshire and such other parts of the UK or the World as the Trustees may from time to time think fit. To fulfil such other purposes which are exclusively charitable within the UK, or the World, as the Trustees may from time to time think fit.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

Achievements and performance

Following the lifting of Covid restrictions, the members of Marvellous Light Ministries started to meet again at the home of Bishop Malcolm in Farnham. After being so long apart we decided to provide occasional lunches and an opportunity for everyone to be together again socially.

Tithes and offerings have increased again in the last financial year and as a result of this the Trustees agreed to make a payment to the Farnham Hedgehogs, a Farnham based charity who raise money to distribute to local individuals and organisations in need. We also made a contribution to local elderly residents who were in need of financial support We have continued to support the Dugit Messianic Fellowship in Tel Aviv, Israel, as well as Open Doors.

Bishop Malcolm has continued to lead the Bishops and Archbishops in the Apostolic Church of St. Thomas (Aramaic Rite) throughout the world and continued to send out weekly video messages to provide teaching, training and encouragement.

2

Marvellous Light Ministries International

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 July 2022

Financial review

Our policy is to hold a minimum of two months expenditure. This policy has been successfully met at the year end and is reviewed annually. Fixed expenditure is a low proportion of the charity's costs and this is therefore deemed an acceptable level of reserves.

Plans for future periods

We will continue to support local initiatives, giving help to poor and disadvantaged families in the area and it is our intention to expand our support for such charities.

The trustees' annual report and the strategic report were approved on 30 October 2022 and signed on behalf of the board of trustees by:

M.S. Wilson

~~Archbishop M S Wilson~~ Malcom Stuart Wilson (Oct 26, 2022, Trustee 1:02pm)

3

Marvellous Light Ministries International

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Marvellous Light Ministries International

Year ended 31 July 2022

I report to the trustees on my examination of the financial statements of Marvellous Light Ministries International ('the charity') for the year ended 31 July 2022.

Responsibilities and basis of report

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

Having satisfied myself that the accounts of the company 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 the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner'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:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

  4. the financial statements 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 (FRS 102).

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.

Thomas Mc Manners BSc ACA ACMI Independent Examiner

269 Farnborough Road Farnborough Hampshire GU14 7LY

4

Marvellous Light Ministries International

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 July 2022

2022 2022 2021
Unrestricted
funds Total funds Total funds
Note £ £ £
Income and endowments
Donations and legacies 5 56,852 56,852 58,927
Other income 6 249
  
Total income 56,852 56,852 59,176
  
Expenditure
Expenditure on charitable activities 7,8 40,915 40,915 37,652
  
Total expenditure 40,915 40,915 37,652
  
  
Net income and net movement in funds 15,937 15,937 21,524
  
Reconciliation of funds
Total funds brought forward 48,032 48,032 26,508
  
Total funds carried forward 63,969 63,969 48,032
  

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

The notes on pages 7 to 13 form part of these financial statements.

5

Marvellous Light Ministries International

Company Limited by Guarantee

Statement of Financial Position

31 July 2022

2022 2021
Note £ £
Fixed assets
Tangible fixed assets 13 332 767
Current assets
Debtors 14 930
Cash at bank and in hand 63,907 48,513
 
64,837 48,513
Creditors: amounts falling due within one year 15 1,200 1,248
 
Net current assets 63,637 47,265
 
Total assets less current liabilities 63,969 48,032
 
Net assets 63,969 48,032
 
Funds of the charity
Unrestricted funds 63,969 48,032
 
Total charity funds 16 63,969

48,032


For the year ending 31 July 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

These financial statements were approved by the board of trustees and authorised for issue on 30 October 2022, and are signed on behalf of the board by:

M.S. Wilson

Archbishop M S Wilson Malcom Stuart Wilson (Oct 26, 2022,1:02pm) Trustee

The notes on pages 7 to 13 form part of these financial statements.

6

Marvellous Light Ministries International

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 July 2022

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 71-75 Shelton Street, Covent Garden, London, United Kingdin.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.

As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

(a) No cash flow statement has been presented for the company.

(b) Disclosures in respect of financial instruments have not been presented.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements consist of the level of expenditure relating to the year, but not yet invoiced.

7

Marvellous Light Ministries International

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2022

3. Accounting policies (continued)

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

8

Marvellous Light Ministries International

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2022

3. Accounting policies (continued)

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment - 33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

9

Marvellous Light Ministries International

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2022

3. Accounting policies (continued)

Impairment of fixed assets (continued)

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

4. Limited by guarantee

The charity is a company limited by guarantee and has no share capital. The liability of the members in the event of the charity being wound up is limited to a sum not exceeding £10.

5. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Donations
Cash donations 27,587 27,587 17,373 17,373
Donations under gift aid 9,831 9,831 9,023 9,023
Gift Aid 3,205 3,205 2,563 2,563
Grants
Grants received under the covid
retention scheme 1,960 1,960 15,027 15,027
Other receipts 678 678
Stewardship 14,269 14,269 14,263 14,263
   
56,852 56,852 58,927 58,927
   

6. Other income

Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Gain on disposal of tangible fixed
assets 249 249
   

10

Marvellous Light Ministries International

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2022

7. Expenditure on charitable activities by fund type

Unrestricted Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Direct charitable activities 30,571 30,571 26,782 26,782
Support costs 10,344 10,344 10,870 10,870
   
40,915 40,915 37,652 37,652
   
8. Expenditure on charitable activities by activity type
Activities
undertaken Total funds Total fund
directly Support costs 2022 2021
£ £ £ £
Direct charitable activities 30,571 30,571 26,782
Support costs 6,913 6,913 7,578
Governance costs 3,431 3,431 3,292
   
30,571 10,344 40,915 37,652
   
9. Net income
Net income is stated after charging/(crediting):
2022 2021
£ £
Depreciation of tangible fixed assets 435 431
Gains on disposal of tangible fixed assets (249)
 
10. Independent examination fees
2022 2021
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 1,200 1,248
 
11. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2022 2021
£ £
Wages and salaries 20,100 19,600
 
The average head count of employees during the year was 2 (2021: 2). The average number of
full-time equivalent employees during the year is analysed as follows:
2022 2021
No. No.
Number of staff - Charitable activities 2 2
 

11

Marvellous Light Ministries International

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2022

11. Staff costs (continued)

No employee received employee benefits of more than £60,000 during the year (2021: Nil).

12. Trustee remuneration and expenses

During the year Archbishop M S Wilson received remuneration of £14,500 (2021 £14,000) in respect of his services as a senior pastor and not for his services as a trustee.

Archbishop M S Wilson was also repaid £6,544 in respect of out of pocket expenses in the year (2021: £7,039). This includes £6,478 (2021: £6,326) for the use of his home from which to undertake church business.

Archbishop M S Wilson expended donations of £nil (2021: £712) for the charity in the year.

13. Tangible fixed assets

Equipment
£
Cost
At 1 August 2021 8,385
Disposals (50)

At 31 July 2022 8,335

Depreciation
At 1 August 2021 7,618
Charge for the year 435
Disposals (50)

At 31 July 2022 8,003

Carrying amount
At 31 July 2022 332

At 31 July 2021 767

14. Debtors
2022 2021
£ £
Other debtors 930
 
15. Creditors: amounts falling due within one year
2022 2021
£ £
Accruals and deferred income 1,200 1,248
 

12

Marvellous Light Ministries International

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2022

16. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At At
1 August 2021 Income Expenditure 31 July 2022
£ £ £ £
General funds 48,032 56,852 (40,915) 63,969
   
At At
1 August 2020 Income Expenditure 31 July 2021
£ £ £ £
General funds 26,508 59,176 (37,652) 48,032
   
Analysis of net assets between funds
Unrestricted Total Funds
Funds 2022
£ £
Tangible fixed assets 332 332
Current assets 64,837 64,837
Creditors less than 1 year (1,200) (1,200)
 
Net assets 63,969 63,969
 
Unrestricted Total Funds
Funds 2021
£ £
Tangible fixed assets 767 767
Current assets 48,513 48,513
Creditors less than 1 year (1,248) (1,248)
 
Net assets 48,032 48,032
 

17. Analysis of net assets between funds

13

Marvellous Light Ministries International

Company Limited by Guarantee

Management Information

Year ended 31 July 2022

The following pages do not form part of the financial statements.

14

Marvellous Light Ministries International

Company Limited by Guarantee

Detailed Statement of Financial Activities

Year ended 31 July 2022

2022 2021
£ £
Income and endowments
Donations and legacies
Cash donations 27,587 17,373
Donations under gift aid 9,831 9,023
Gift Aid 3,205 2,563
Grants received under the covid retention scheme 1,960 15,027
Other receipts 678
Stewardship 14,269 14,263
 
56,852 58,927
 
Other income
Gain on disposal of tangible fixed assets 249
 
 
Total income 56,852 59,176
 
Expenditure
Expenditure on charitable activities
Wages and salaries 20,100 19,600
Insurance 808 719
Other establishment 6,478 6,326
Motor vehicle expenses 821
Legal and professional fees 1,372 1,555
Other office costs 539 1,137
Depreciation 435 431
Donations 7,850 5,332
Donations - designated 678
Hospitality and entertainment 2,082 35
Payroll and other running costs 1,251 1,018
 
40,915 37,652
 
 
Total expenditure 40,915 37,652
 
 
Net income 15,937 21,524
 

15

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Wed, 26th Oct 2022 13:02:26 BST Malcom Stuart Wilson - Signer (5508075445ee59b9bfef8f6a8d438761) Audit history log Date Action Wed, 26th Oct 2022 13:02:29 BST Malcom Stuart Wilson viewed the envelope. (94.15.27.203) Wed, 26th Oct 2022 13:02:26 BST The envelope has been signed by all parties. (94.15.27.203) Wed, 26th Oct 2022 13:02:26 BST Malcom Stuart Wilson signed the envelope. (94.15.27.203) Wed, 26th Oct 2022 13:00:23 BST Malcom Stuart Wilson viewed the envelope. (94.15.27.203) Wed, 26th Oct 2022 13:00:04 BST Malcom Stuart Wilson opened the document email. (66.249.93.196) Wed, 26th Oct 2022 7:40:02 BST Document emailed to marvlight@gmail.com (18.169.240.112) Wed, 26th Oct 2022 7:40:02 BST Sent Malcom Stuart Wilson a reminder to sign the envelope. (3.8.173.210) Wed, 26th Oct 2022 7:40:02 BST The active signer will be automatically reminded. (3.8.173.210) Wed, 19th Oct 2022 21:33:45 BST Malcom Stuart Wilson opened the document email. (172.226.114.2) Wed, 19th Oct 2022 9:45:21 BST Malcom Stuart Wilson viewed the envelope. (94.15.27.203) Wed, 19th Oct 2022 9:44:50 BST Malcom Stuart Wilson opened the document email. (66.249.93.223) Wed, 19th Oct 2022 7:41:38 BST Document emailed to marvlight@gmail.com (35.178.73.50) Wed, 19th Oct 2022 7:41:38 BST Sent the envelope to Malcom Stuart Wilson (marvlight@gmail.com) for signing. (82.22.136.2) Wed, 19th Oct 2022 7:40:13 BST Automatic reminders for this envelope have been set to occur every 7 days (82.22.136.2) Wed, 19th Oct 2022 7:40:06 BST Malcom Stuart Wilson has been assigned to this envelope (82.22.136.2) Wed, 19th Oct 2022 7:37:06 BST Document generated with fingerprint b33703c5647aab305687a983e6f65b2c (82.22.136.2) Wed, 19th Oct 2022 7:37:06 BST Document generated with fingerprint 45edefd4baca25a81264a1219ac6db66 (82.22.136.2) Wed, 19th Oct 2022 7:37:06 BST Document generated with fingerprint b4fca43d78f7d65a4bdfc43002d4223f (82.22.136.2)

Wed, 19th Oct 2022 7:37:06 BST

Document generated with fingerprint 1a6cf644c8cbe6d07b3d4fd09a9ff261

(82.22.136.2)

Wed, 19th Oct 2022 7:36:34 BST Envelope generated by Tracy Mair (82.22.136.2)