**Registered number: 6498898 Charity number: 1124766** ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** **TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020** ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** **----- Start of picture text -----**
CONTENTS
Page
Reference and Administrative Information 1
Trustees’ Report 2
Statement of Trustees’ Responsibility 6
Independent Examiner’s Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10-15
**----- End of picture text -----**
Page 2 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** LEGAL AND ADMINISTRATIVE INFORMATION **For the year ended 31 December 2020** **Trustees** Mr. Michael Ricardo Har t (Chairman) Mr Jacobus Francois Eramus Groenawald Dr. Jennifer Diane Watkins Mr. Jamie Gordine **Charity Number** 1124766 **Company Number** 6498898 **Registered Office** 59 Essex Park London N3 1ND **Independent examiner** Victor Ochieng FCCA Chartered Accountant 8 Glaston Court Grange Road W5 5QR **Bankers** Lloyds TSB Bank PLC PO Box 1000 BX1 1LT Page 1 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** ## TRUSTEES’ REPORT **For the year ended 31 December 2020** The Trustees who are also directors of the charity for the purposes of the Companies Act 2006 ('the 2006 Act'), present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **Objectives and activities** - To advance the Christian faith in accordance with the Statement of Beliefs in such ways and in such parts of the United Kingdom or the world as the Trustees from time to time may think fit. - To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind, including through the provision of counselling and support in such parts of the United Kingdom or the world as the Trustees from time to time may think fit, and - To advance education in such ways and in such parts of the United Kingdom or the world as the Trustees from time to time may think fit. ## **Public benefit** The Trustees have paid due regard to guidance by the Charity Commission in deciding what activities the Charity should undertake. ## **Activities** We have a number of activities throughout the week at London International Christian Church: ## **Bible Talks** We conduct daily bible discussions across the UK based on Scriptures that teach that the church is built house to house. ## **Ministries** We divide our ministries based needs and currently have the following: Marrieds, Singles, Campus, Teens, Kids and Arts, Media and Sports Collective. ## **Campus Ministry** Campus Ministry is a student organisation committed to supporting the spiritual growth of students as they pursue their degree program. Our student groups is about building friendships, growing in your relationship with God and learning more about the word of God. We have a diverse group of students from the universities around the London. University is a time where young adults are trying to figure out their future and who they are. Our group helps students explore a relationship with God who has all the answers for the plans for our lives. We have Bible Discussions around different campuses for students during the week. We also have a Devotional every Friday evening the students. Throughout the year, we have many events such as Open Mics, Campus Retreats, Movie Nights and other social events. ## **Achievement and Performance** Page 2 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** During the year the church met regularly for worship and carried out various activities in pursuit of our aims The church now has 12 people (FTE) employed in the ministry-involved in pastoral care, Bible teaching and leading Christian worship. Page 3 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** TRUSTEES’ REPORT (CONTINUED) **For the year ended 31 December 2020** ## **FINANCIAL REVIEW** ## **Covid-19 impact** Covid-19 has obviously disrupted our normal programme of ministry and activities through most of 2020 - and is still doing as we move through 2021. We quickly adapted what we do with Virtual Church Services and we've been encouraged to see large numbers watching. Despite the inability to physically be together for most of this year, the Church community has stayed strong. The Trustees continued to ensure our core charitable objectives are still at the heart of all we are doing in London and beyond. Considering all that has happened this year, finances have remained stable enough with people mainly giving on-line and we have benefitted from the Government Job Retention Scheme. We continue to monitor and plan for the future, guided by the Government and their Advisors, taking every step we can to safeguard the safety of those involved in the Church – as well hoping that we can get back to some sort of 'normal'. ## **Transactions and Financial position** The total income for 2020 was £592,569 (2019: £631,980). Of this £71,900 were restricted as set out in note 10 in the notes to the accounts. The total resources expended in the year were £574,867 (2019: £633,900). The fund balance carried forward at 31[st] December 2020 was £52,377 on general unrestricted funds. The fund balance carried forward on restricted funds was £nil on 31st December 2020. The full Statement of Financial Activities is set out in the notes to the accounts. The above results were in line with the expectations and budget. ## **Reserves policy** There is no general funding guaranteed annual income and therefore, as an acknowledgement of the financial risks accrued through the day-to-day activities and ongoing services. The Charity’s aims to generate sufficient unrestricted reserves to maintain operations for 3 months running cost and allow the services to continue. The Trustees have adopted a policy regarding reserves, which should ensure that the unrestricted funds not tied into fixed assets will: a) provide for cash flow in the event of late payment of grants or other external funding; b) provide for statutory redundancy payments to core staff if core funding is lost; c) enable planting of churches The policy is reviewed annually. ## **PLANS FOR THE FUTURE** The Charity plans continuing the activities outlined above in the forthcoming years subject to the satisfactory funding arrangements. Page 4 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** ## **ACKNOWLEDGEMENT** The Trustees express their sincere appreciation to all the individuals, especially the members, who have helped the charity over the years, and look forward to continuing support whenever possible. TRUSTEES’ REPORT (CONTINUED) **For the year ended 31 December 2020** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing Document** The London International Christian Church registered charity governed by its Memorandum and Articles adopted 11th February 2008. ## **Recruitment and appointment of new Trustees** Membership is open to anyone who subscribes to the aims and objectives of the charity. A Register of Members is kept showing name, address and date of membership and should be available for inspection. The Charity may by ordinary resolution: - Appoint a person who is willing to act to be a Director, and - Determine the rotation in which any additional Directors are to retire - No person other than a Director retiring by rotation may be appointed a Director at any general meeting. A Director appointed by a resolution of the other Directors must retire at the next annual general meeting and must not be taken into account in determining the Trustees who are to retire by rotation. ## **Induction and training of new Trustees** New Trustees are provided with the most recent annual accounts and report and a portfolio of current policies and procedures. A Trustees' Handbook provides Trustees with a comprehensive reference pack that includes the governing instrument, details of activities, organisational structure, assets, accounts, responsibilities and procedures of the charity. This handbook forms the basis for induction of new board members and staff and briefing of professional advisors. A meeting is held so as to give new Trustees an understanding of the charity and their activities. Training for Trustees takes place as and when training needs are identified. Induction of new Management Committee members will wherever possible be undertaken by the two most senior office holders and most senior staff members who have already undergone the induction procedure (the inductors). Induction of new Management Committee members will wherever possible take place at the London International Christian Church office no later than ten working days after the election of the new Management Committee member. The new Management Committee member will be introduced to other Management Committee members and employees and volunteers and be given a description of the work each of them undertakes. Page 5 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** The new Management Committee member will be expected to familiarise themselves with the services provided and who takes the lead in providing those services. ## **Organisational structure** The London International Christian Church (LICC) is Company Limited by Guarantee. The board of Trustees consists of four members who administer the charity. The board meets quarterly and there are sub-committees covering development, membership, finance and audit which meet more regularly. TRUSTEES’ REPORT (CONTINUED) **For the year ended 31 December 2020** ## **Related Parties** London International Christian Church has no other related parties. ## **Risk management** The Trustees’risk management strategy comprises: - an annual review of the risks the charity may face; - the establishment of systems and procedures to mitigate those risks identified in the business plan; and - Implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. This year’s work has identified only a few minor new risks, mainly due to the planning and the continuation of many of the programmes from the previous years. The main attention has focussed on non-financial risks arising from fire, and the health and safety of clients visiting premises. Page 6 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** ## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES For the year ended 31 December 2020** The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Company and charity law require the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs, of the charitable company, and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and Page 7 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** - prepare financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charitable company, and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities ## **APPROVAL** This report was approved by the Board of Trustees on 28[th] September 2021 and signed on its behalf by: …………………………………………………………………………..……………………………….. ## **Mr. Michael Ricardo Hart - Trustee** Page 8 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** ## **INDEPENDENT EXAMINERS REPORT TO THE MEMBERS OF LONDON INTERNATIONAL CHRISTIAN CHURCH** I report to the charity trustees on my examination of the financial statements of the London International Christian Church (the Company) for the year ended 31[st] December 2020. ## **Respective responsibilities of trustees and examiner** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of the ACCA, which is one of the listed bodies. 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 Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any rrequirement that the accounts give a true and fair view which is not a matter considered as part of an iindependent examination; or 4. the accounts 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. Victor Ochieng FCCA Date: 28[th ] September 2021 Page 9 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** ## **STATEMENT OF FINANCIAL ACTIVITIES (Incorporating income and expenditure account) For the year ended 31 December 2020** |**Note**
**Income from:**
Donations and legacies
2
Other income
**Total income**
**Expenditure on:**
Provision of religious services
3
**Net incoming/(outgoing)**
**resources before transfers**
4
Transfers between funds
**Net (expenditure)/income for**
**the year/ Net movement in**
**funds**
Total funds brought forward
**Total funds carried forward**
10|**31 Dec**
31 Dec
**Unrestrict**
**ed**
**Restricted**
**2020**
2019
**Fund**
**s**
**Funds**
**Total**
Total
**£**
**£**
**£**
_£_
**520,66**
**9**
**-**
**520,669**
631,980
**-**
**71,900**
**71,900**
-| |---|---| ||**520,669**
**71,900**
**592,569**
631,980| ||**502,967**
**71,900**
**574,867**
633,900| ||**17,702**
**-**
**17,702**
(1,920)
**-**
**-**
**-**
-
**17,702**
**-**
**17,702**
(1,920)
**_34,675_**
**_-_**
**_2_**
**_34,675_**
_36,595_| ||**52,377**
**-**
**52,3**
**77**
34,675| The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. Page 10 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** These notes form part of the financial statements. ||BALANCE SHEET|BALANCE SHEET|||| |---|---|---|---|---|---| ||**As at 31**|**December**|**2020**||| ||||**31 Dec**||31 Dec| ||||**2020**||2019| ||**Note**|**£**|**£**|£|£| |**Fixed Assets**|||||| |Tangible assets|6||**8,071**||8,941| |**Current Assets**|||||| |Debtors|7|**15,709**||19,838|| |Prepayment||**-**||-|| |Cash at bank and in hand||**35,736**||18,034|| |||**51,445**||37,872|| |**Creditors:**amounts falling due within|||||| |one year|8|**(7,139)**||(12,139)|| |**Net Current assets**|||**44,306**||25,734| |**NET ASSETS**|||**52,377**||34,675| ||10||||| |**FUNDS**|||||| |Restricted funds|||**-**||-| |Unrestricted - general funds|||**52,377**||34,675| ||||**52,377**||34,675| The company is entitled to the exemption from the audit under Section 477 of the Companies Act 2006, for the year ended 31[st] December 2020. The members have not required the company to obtain an audit of its financial statements, for the year ended 31 December 2020 under Section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for: - a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006; b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. Page 11 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** - c) These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject - to the small companies regime. - d) The trustees declare that they have approved the accounts on 28[th] September 2021 and signed on their behalf by ## ……………………………………… ## **Mr. Michael Ricardo Hart** These notes form part of the financial statements. Page 12 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** NOTES TO THE FINANCIAL STATEMENTS **For the year ended 31 December 2020** ## **1. ACCOUNTING POLICIES** ## **Basis of preparation of financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Company status** London International Christian Church is a company limited by guarantee. The members of the company are the Trustees named in the trustees’ report. ## **Income** Incoming resources are accounted for on a receivable basis deferred as described below where appropriate. ## **Investment Income** Bank interest received is included on an actual receipts basis. ## **Government grants** Grants received in relation to the Coronavirus pandemic are accounted for as they fall due and included within the Statement of financial activities. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. In particular the policy for including items within costs of generating funds and charitable activities costs is: ## Charitable activities This includes the cost of goods and services and ancillary costs that have been incurred in charitable activities. The ministers are involved with such activates and therefore the relevant stipend costs are treated as direct charitable expenditure. ## **Allocation and apportionment of costs** The methods and principles for the allocation and apportionment of all costs between the different activity categories of resources set out above are: The Charity's operating costs including staff costs, rent and other related costs. Such costs are allocated between types of resources expended and between charitable expenditure and management and administration on the basis of estimates made by the directors. Page 13 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** The bases of the estimates used were a common sense assessment of the nature of the costs involved. ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) **For the year ended 31 December 2020** ## **Depreciation** Depreciation is provided using the following rates and bases to reduce by annual instalments the cost, less estimated residual value, of tangible assets over their estimated useful lives:  Equipment 25% Straight line  Office furniture 25% Straight line  Computers 25% Straight line ## **Operating leases** Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activitiesas incurred. ## **VAT** All resources expanded are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category or resources expended for which it was incurred: London International Christian Church is not VAT register so cannot recover any VAT incurred. ## **Winding up or dissolution of the charity** If upon winding up or dissolution of the Charity there remain any assets, after the satisfaction of all the debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the Charity. Page 14 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) **For the year ended 31 December 2020** ## **2. Donations and legacies** |**onations and legacies**||||| |---|---|---|---|---| ||||**_Total_**|_Total_| ||||**_31 Dec_**|_31_| ||**Unrestricted**|**Restricted**|**_2020_**|_Dec_| |||||_2019_| ||**£**|**£**|**_£_**|_£_| |Donations ( Members and|**520,669**|**-**|**520,669**|631,980| |Public)|**-**|**71,900**|**71,900**|-| |Other income - Government||||| |Job Retention Scheme||||| ||**520,669**|**71,900**|**592,569**|631,980| |**rovision of religious services**||||| ||**_Unrestricte_**|**_Restricte_**|**_Total_**|_Total_| ||**_d_**|**_d_**||| ||**_Fund_**|**_Fund_**|**_31 Dec_**|_31 Dec_| ||||**_2020_**|_2019_| ||**_£_**|**_£_**|**_£_**|_£_| |Direct Costs|**452,670**|**71,900**|**524,570**|_570,510_| |Support Costs|**50,297**|**-**|**50,297**|_63,390_| ||**502,967**|**71,900**|**574,86**
**7**|633,900| ## **3. Provision of religious services** ## **4. NET INCOME / (EXPENDITURE) FOR THE YEAR** The net income / (expenditure) for the year is stated after charging: |Depreciation of tangible fxed assets
Accountancy fees|**_31 Dec_**
**_2020_**
**_£_**
**4,954**
**1,500**|_31 Dec_
_2019_
_£_
2,650
2,000| |---|---|---| During the period ended, no Trustees received any remuneration (2020- £NIL). During the period ended, no Trustees received any benefits in kind (2020- £NIL). During the period ended, no Trustees received any reimbursement of expenses (2020- £NIL). Page 15 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) **For the year ended 31 December 2020** **5. STAFF COSTS AND NUMBERS** Staff costs were as follows: |Staf costs were as follows:||| |---|---|---| ||**_31 Dec_**|_31 Dec_| ||**_2020_**|_2019_| ||**_£_**|_£_| |Wages and salaries|**237,234**|142,69| |||9| |Social security costs|**17,431**|10,713| |Other staf costs|**-**|-| ||**254,665**|153,41
2| |The average number of full-time equivalent|employees during the year was as|follows:| ||**_31 Dec_**|_31 Dec_| ||**_2020_**|_2019_| ||**_£_**|_£_| |Charitable activities|**12**|**8**| ||**12**|**8**| |**No employee had emoluments exceeding £60,000 (2019: none)**||| ## **6.** TANGIBLE FIXED ASSETS |**Cost**
At 1 January 2020
Additions
At 31 December 2020
**Depreciation**
At 1 January 2020
Charged in the year
At 31 December 2020
**Net Book Value**
31 December 2020
31 December 2019|**_Equipme_**
**_nt_**
**_£_**
**12,198**
**7,619**
**19,817**
**6,792**
**4,954**
**11,746**
**8,071**
**8,941**|**_Total_**
**_£_**
**12,198**
**7,619**| |---|---|---| |||**19,817**| |||**6,792**
**4,954**| |||**11,746**| |||**8.071**| |||**8,941**| Page 16 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) **For the year ended 31 December 2020** ## **7. DEBTORS** |**7.**|**DEBTORS**||| |---|---|---|---| |||**_31 Dec_**|_31 Dec_| |||**_2020_**|_2019_| |||**_£_**|_£_| ||Gift Aid Rebate|**15,709**|19,838| ||Prepayments|**-**|-| |||**15,709**|19,838| |**8**.|CREDITORS – AMOUNTS FALLING DUE WITHIN ONE YEAR||| |||**_31 Dec_**|_31 Dec_| |||**_2020_**|_2019_| |||**_£_**|_£_| ||Trade creditors|**-**|**-**| ||Accruals and other creditors|**7,139**|**12,139**| |||**7,139**|**12,139**| Page 17 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) **For the year ended 31 December 2020** ## **9. CREDITORS – AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR** ||**_31 Dec_**|_31 Dec_| |---|---|---| ||**_2020_**|_2019_| ||**_£_**|_£_| |Long term creditors|**-**|-| ## **10. MOVEMENT IN FUNDS** ## **UNRESTRICTED FUNDS** |**_Brough_**
**_t_**
**_forward_**
**£**
General funds
**34,675**
**34,675**
**SUMMARY OF FUNDS**
**_Brough_**
**_t_**
**_forward_**
**£**
Restricted funds
**-**
General funds
**34,675**
**34,675**|**_Incoming_**
**_resources_**
**£**
**520,669**
**520,669**
**_Incoming_**
**_resources_**
**£**
**71,900**
**520,669**
**592,569**|**_Resourc_**
**_es_**
**_expende_**
**_d_**
**£**
**(502,967**
**)**
**(502,967**
**)**
**_Resourc_**
**_es_**
**_expende_**
**_d_**
**£**
**(71,900)**
**(502,967**
**)**
**(574,867**
**)**|**_Transfe_**
**_rs_**
**£**
**-**
**-**
**_Transfe_**
**_rs_**
**£**
**-**
**-**
**-**|**_Carried_**
**_forward_**
**£**
**52,377**| |---|---|---|---|---| |||||**52,377**| |||||**_Carried_**
**_forward_**
**£**
**_-_**
**52,377**| |||||**52,377**| ## **SUMMARY OF FUNDS** ## **Name and purpose of restricted funds:** Coronavirus Job Retention Scheme to compensate employers for part of the wages and associated NI contributions and employer pension contributions of employees who have been placed on furlough. ## **11. SHARE CAPITAL** London International Christian Church is a company limited by guarantee and has no share capital. Page 18 ## **LONDON INTERNATIONAL CHRISTIAN CHURCH** ## **12. TAXATION** Under the provision of TA 1988 sections 505 and 506, the charitable company is not liable to tax on its charitable grants, donations or fee income earned in the course of its charitable activities, so long as the income is applied for the purposes of the company's charitable aims. Page 19