2024-03-31-accounts - Nations Light Ministries

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NATIONS LIGHT MINISTRIES ALSO TRADING AS LIGHT ASSEMBLY CHURCH (PRIVATE LIMITED COMPANY BY GUARANTEE)

REPORT AND STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31ST MARCH 2024

NATIONS LIGHT MINISTRIES REPORT AND STATEMENT OF FINANCIAL POSITION CONTENT

	Pages:
Company Information		3
Directors’ report		4
Statement of financial activities		5
Statement of financial position		6
Notes to the statement of financial activities		7
Detailed statement of financial activities		8

NATIONS LIGHT MINISTRIES COMPANY INFORMATION FOR THE YEAR ENDED 31ST MARCH 2024

Directors: Kingsley Kelechukwu Obioma Alfred Olugbemisola Oluremi Alfred Julius Adeiza Sulle Company Number: 06288408 (England and Wales)

Registered Office: 7 Byrd Close, Waterlooville, Hampshire, PO7 5UX

NATIONS LIGHT MINISTRIES COMPANY NO: 06288408 (ENGLAND AND WALES) DIRECTOR'S REPORT

The directors present their report and accounts for the year ended 31 March 2024.

Directors

The following directors held office during the whole of the period.

Kingsley Kelechukwu Obioma Alfred

Olugbemisola Oluremi Alfred

Julius Adeiza Sulle

Statement of directors' responsibilities

The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.

Company law requires the directors to prepare accounts for each financial year. Under that law, the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small company provisions

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Signed on behalf of the board of directors

............................................................................ Kingsley Kelechukwu Obioma Alfred Director

Approved by the board on: 15 July 2024

NATIONS LIGHT MINISTRIES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024

	2023	2024
	£	£
Income	42,680	56,267
Operating Expenses	(36,897)	(43,719)
Income on ordinary activities before taxation	5,784	12,548
Taxation on income on ordinary activities	-	-
Income on ordinary activities after taxation	5,784	12,548

NATIONS LIGHT MINISTRIES STATEMENT OF FINANCIAL POSITION AS AT 31ST MARCH 2024

	2023	2024
	£	£
Fixed Assets	9,659	11,687
Prepayments and accrued income	3,653	1,779
Net current assets (liabilities)	13,312	13,466

Total assets less current liabilities	13,312	13,466

Total current assets (liabilities)	13,312	13,466

Reserves	13,312	13,466

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.

Approved by the Board on 15 July 2024

And signed on their behalf by:

Kingsley Kelechukwu Obioma Alfred, Director

NATIONS LIGHT MINISTRIES NOTES TO THE FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024

1. Statutory information

NATIONS LIGHT MINISTRIES is a company limited by guarantee also trading as LIGHT ASSEMBLY CHURCH, registered in England and Wales, registration number 06288408. The registered office is 7 Byrd Close, Waterlooville, Hampshire, PO7 5UX.

2. Compliance with accounting standards

The accounts have been prepared in accordance with the provisions of FRS 102, the reporting standard applicable in the United Kingdom and Republic Ireland. There were no material departures from that standard.

3. Accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Basis of preparation

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Presentation currency

The accounts are presented in sterling.

4. Income

Voluntary income is received by way of donations and gifts. It is shown in full in the Statement of Financial Activities, when received. Gifts in kind are valued at their estimated value and are included under the appropriate headings.

Intangible Income is valued and included in income to the extent that it represents goods or services which would otherwise be purchased. Where it Is difficult or not possible to value the goods or services, such as volunteer time, the accounts do not Include them. Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are received.

5. Tangible Fixed Assets Policy

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. Equipment is capitalised and depreciated at the rate of 25% per annum on the straight line basis.

NATIONS LIGHT MINISTRIES NOTES TO THE FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024

Cost Depreciation Charge for the year Net Book Value (NBV)	2023 £ 13,582 3,924 9,659	2024 £ 17,099 5,412
		11,687

6. Payments to Directors

No payment or renumeration was made to the directors during the financial year.

NATIONS LIGHT MINISTRIES DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024

Income Donations Gift Aid Other revenue Total Revenues Expenses Honorarium Advertising Charges Depreciation Furniture and equipment Insurance Maintenance and repairs Office supplies Rent Printing, Publication & Postage Salaries and wages Benevolence Travel Refreshment Web hosting and domains Storage Subscriptions Stationary Internet Loan Phone Other Total Expenses Net Income Before Taxes Income tax expense Income from Continuing Operations Net Income	2023 £ 33,035 7,497 2,149 42,680 1,036 0 1,051 0 0 981 0 0 6,283 1,370 0 11,346 6,465 1,893 0 0 1,462 504 1,613 0 0 0 36,897 5,784 0 5,784 5,784	2024 £ 46,443 8,294 1,530
		56,267 290 0 0 5,412 0 1,540 1,086 1,418 11,099 1,637 1,946 1,865 11,470 2,399 292 0 1,522 206 777 0 772 0
		43,719 12,548 0
		12,548
		12,548