2023-07-31-accounts

COMPANY REGISTRATION NUMBER: 06302788 CHARITY REGISTRATION NUMBER: 1120761

Marvellous Light Ministries International Company Limited by Guarantee Unaudited Financial Statements 31 July 2023

TTCA LTD

Chartered Accountants 269 Farnborough Road Farnborough Hampshire GU14 7LY

Marvellous Light Ministries International

Company Limited by Guarantee

Financial Statements

Year ended 31 July 2023

	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 2023

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 2023.

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 Kingdom 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 2023

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

Bishop Malcolm and Margaret finally sold their property in Weston Super Mare and moved into a house they purchased in Fleet in May 2023.

Tithes and offerings have increased during the last financial year and we have continued to make payments to the Farnham Hedgehogs, as well as continuing our support for the Dugit Messianic Fellowship in Tel Aviv, Israel, and Open Doors who provide support to persecuted Christians in many countries.

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 2023

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 5 November 2023 and signed on behalf of the board of trustees by:

Malcolm Wilson

Archbishop M S Wilson Malcolm Wilson (Nov 16, 2023, 4:34pm) Trustee

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 2023

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 2023.

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 2023

		2023	2023	2022
		Unrestricted
		funds	Total funds	Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	5	63,248	63,248	56,852
		────────	────────	────────
Total income		63,248	63,248	56,852
		════════	════════	════════
Expenditure
Expenditure on charitable activities	6,7	49,102	49,102	40,915
		────────	────────	────────
Total expenditure		49,102	49,102	40,915
		════════	════════	════════
		────────	────────	────────
Net income and net movement in funds		14,146	14,146	15,937
		════════	════════	════════
Reconciliation of funds
Total funds brought forward		63,969	63,969	48,032
		────────	────────	────────
Total funds carried forward		78,115	78,115	63,969
		════════	════════	════════

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 2023

		2023	2022
	Note	£	£
Fixed assets
Tangible fixed assets	12	1,071	332
Current assets
Debtors	13	502	930
Cash at bank and in hand		77,742	63,907
		────────	────────
		78,244	64,837
Creditors: amounts falling due within one year	14	1,200	1,200
		────────	────────
Net current assets		77,044	63,637
		────────	────────
Total assets less current liabilities		78,115	63,969
		────────	────────
Net assets		78,115	63,969
		════════	════════
Funds of the charity
Unrestricted funds		78,115	63,969
		────────	────────
Total charity funds	15	78,115 ════════	63,969 ════════

For the year ending 31 July 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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 5 November 2023, and are signed on behalf of the board by:

Malcolm Wilson

Malcolm Wilson (Nov 21, 2023, 5:21pm) Archbishop M S Wilson 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 2023

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 Kingdom.

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 2023

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:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

8

Marvellous Light Ministries International

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

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:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

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 2023

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 cash-generating 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	2023	Funds	2022
	£	£	£	£
Donations
Cash donations	36,401	36,401	27,587	27,587
Donations under gift aid	11,040	11,040	9,831	9,831
Gift Aid	2,220	2,220	3,205	3,205
Grants
Grants received under the covid
retention scheme	–	–	1,960	1,960
Stewardship	13,587	13,587	14,269	14,269
	────────	────────	────────	────────
	63,248	63,248	56,852	56,852
	════════	════════	════════	════════
Expenditure on charitable activities	by fund type
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2023	Funds	2022
	£	£	£	£
Direct charitable activities	30,739	30,739	30,571	30,571
Support costs	18,363	18,363	10,344	10,344
	────────	────────	────────	────────
	49,102	49,102	40,915	40,915
	════════	════════	════════	════════

6. Expenditure on charitable activities by fund type

10

Marvellous Light Ministries International

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

7. Expenditure on charitable activities by activity type

		Activities
	undertaken			Total funds	Total fund
		directly	Support costs	2023	2022
		£	£	£	£
	Direct charitable activities	30,739	–	30,739	30,571
	Support costs	–	14,846	14,846	6,913
	Governance costs	–	3,517	3,517	3,431
		────────	────────	────────	────────
		30,739	18,363	49,102	40,915
		════════	════════	════════	════════
8.	Net income
	Net income is stated after charging/(crediting):
				2023	2022
				£	£
	Depreciation of tangible fixed assets			868	435
				════	════
9.	Independent examination fees
				2023	2022
				£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements			1,200 ═══════	1,200 ═══════

10. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2023	2022
	£	£
Wages and salaries	22,268	20,100
	════════	════════
The average head count of employees during the year was 3 (2022: 3). The average		number of
full-time equivalent employees during the year is analysed as follows:
	2023	2022
	No.	No.
Number of staff - Charitable activities	3	3
	════	════

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

11

Marvellous Light Ministries International

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

11. Trustee remuneration and expenses

During the year Archbishop M S Wilson received remuneration of £16,068 (2022 £14,500) in respect of his services as a senior pastor and not for his services as a trustee.

Archbishop M S Wilson was also repaid £13,979 in respect of out of pocket expenses in the year (2022: £6,544). This includes £5,978 (2022: £6,478) for the use of his home from which to undertake church business and £8,000 of relcation costs

.

12. Tangible fixed assets

			Equipment
			£
	Cost
	At 1 August 2022		8,335
	Additions		1,607
			───────
	At 31 July 2023		9,942
			═══════
	Depreciation
	At 1 August 2022		8,003
	Charge for the year		868
			───────
	At 31 July 2023		8,871
			═══════
	Carrying amount
	At 31 July 2023		1,071
			═══════
	At 31 July 2022		332
			═══════
13.	Debtors
		2023	2022
		£	£
	Other debtors	502	930
		════	════
14.	Creditors: amounts falling due within one year
		2023	2022
		£	£
	Accruals and deferred income	1,200	1,200
		═══════	═══════

12

Marvellous Light Ministries International

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

15. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
	At
1	August 202			At
	2	Income	Expenditure	31 July 2023
	£	£	£	£
General funds	63,969	63,248	(49,102)	78,115
	════════	════════	════════	════════
	At
1	August 202			At
	1	Income	Expenditure	31 July 2022
	£	£	£	£
General funds	48,032	56,852	(40,915)	63,969
	════════	════════	════════	════════
Analysis of net assets between funds
			Unrestricted	Total Funds
			Funds	2023
			£	£
Tangible fixed assets			1,071	1,071
Current assets			78,244	78,244
Creditors less than 1 year			(1,200)	(1,200)
			────────	────────
Net assets			78,115	78,115
			════════	════════
			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
			════════	════════

16. Analysis of net assets between funds

13

Marvellous Light Ministries International

Company Limited by Guarantee

Management Information

Year ended 31 July 2023

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 2023

	2023	2022
	£	£
Income and endowments
Donations and legacies
Cash donations	36,401	27,587
Donations under gift aid	11,040	9,831
Gift Aid	2,220	3,205
Grants received under the covid retention scheme	–	1,960
Stewardship	13,587	14,269
	────────	────────
	63,248	56,852
	────────	────────
	────────	────────
Total income	63,248	56,852
	════════	════════
Expenditure
Expenditure on charitable activities
Wages and salaries	22,268	20,100
Insurance	1,389	808
Other establishment	13,978	6,478
Legal and professional fees	1,266	1,372
Other office costs	627	539
Depreciation	868	435
Donations	5,900	7,850
Hospitality and entertainment	1,944	2,082
Payroll and other running costs	862	1,251
	────────	────────
	49,102	40,915
	────────	────────
	────────	────────
Total expenditure	49,102	40,915
	════════	════════
	────────	────────
Net income	14,146	15,937
	════════	════════

15

Issuer Treetops Chartered Accountants Document generated Wed, 15th Nov 2023 14:32:44 UTC Document fingerprint d96658839cbb78a0610e3e9e3f1a753b

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Thu, 16th Nov 2023 16:34:29 UTC Malcolm Wilson - Signer (1a7a0264d4162765608bc1e4841b5a9b) Audit history log Date Action Thu, 16th Nov 2023 16:34:30 UTC Malcolm Wilson viewed the envelope (93.96.89.228) Thu, 16th Nov 2023 16:34:29 UTC This envelope has been signed by all parties (93.96.89.228) Thu, 16th Nov 2023 16:34:29 UTC Malcolm Wilson signed the envelope (93.96.89.228) Thu, 16th Nov 2023 16:32:54 UTC Malcolm Wilson viewed the envelope (93.96.89.228) Thu, 16th Nov 2023 16:32:45 UTC Malcolm Wilson opened the document email. (66.249.93.100) Thu, 16th Nov 2023 0:04:21 UTC Malcolm Wilson opened the document email. (172.224.227.3) Wed, 15th Nov 2023 14:37:11 UTC Document emailed to [e-mail] (3.8.216.245) Wed, 15th Nov 2023 14:37:07 UTC Sent the envelope to Malcolm Wilson ([e-mail]) for signing (82.22.136.2) Wed, 15th Nov 2023 14:35:45 UTC Automatic reminders for this envelope have been set to occur every 7 days (82.22.136.2) Wed, 15th Nov 2023 14:35:40 UTC Malcolm Wilson has been assigned to this envelope (82.22.136.2) Wed, 15th Nov 2023 14:34:03 UTC Document generated with fingerprint 02e4c482b9c85b6213885ad174241d49 (82.22.136.2) Wed, 15th Nov 2023 14:34:03 UTC Document generated with fingerprint a0f29d3e1bca81f5acb26cb220098a68 (82.22.136.2) Wed, 15th Nov 2023 14:34:03 UTC Document generated with fingerprint aa0c994e8f3b9772b47ffee587988f28 (82.22.136.2) Wed, 15th Nov 2023 14:34:03 UTC Document generated with fingerprint d96658839cbb78a0610e3e9e3f1a753b (82.22.136.2) Wed, 15th Nov 2023 14:34:03 UTC Document generated with fingerprint 6a9405503e03d4ff53e796ae74795989 (82.22.136.2)

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Tue, 21st Nov 2023 17:21:03 UTC Malcolm Wilson - Signer (49c034483a868750bab28665ecdfa3b0) Audit history log Date Action Tue, 21st Nov 2023 17:21:03 UTC Malcolm Wilson viewed the envelope (93.96.89.228) Tue, 21st Nov 2023 17:21:03 UTC This envelope has been signed by all parties (93.96.89.228) Tue, 21st Nov 2023 17:21:03 UTC Malcolm Wilson signed the envelope (93.96.89.228) Tue, 21st Nov 2023 17:20:36 UTC Malcolm Wilson viewed the envelope (93.96.89.228) Tue, 21st Nov 2023 17:20:25 UTC Malcolm Wilson opened the document email. (66.249.93.96) Thu, 16th Nov 2023 23:19:30 UTC Malcolm Wilson opened the document email. (172.226.114.10) Thu, 16th Nov 2023 20:49:46 UTC Document emailed to [e-mail] (13.42.36.15) Thu, 16th Nov 2023 20:49:45 UTC Sent the envelope to Malcolm Wilson ([e-mail]) for signing (82.22.136.2) Thu, 16th Nov 2023 20:49:01 UTC Automatic reminders for this envelope have been set to occur every 7 days (82.22.136.2) Thu, 16th Nov 2023 20:48:54 UTC Malcolm Wilson has been assigned to this envelope (82.22.136.2) Thu, 16th Nov 2023 20:47:07 UTC Document generated with fingerprint 2dad761b9ea12000ff56b4c41747608e (82.22.136.2) Thu, 16th Nov 2023 20:46:20 UTC Envelope generated by Tracy Mair (82.22.136.2)