OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← London International Christian Church

2023-12-31-accounts

Registered number: 06498898 Charity number: 1124766

LONDON INTERNATIONAL CHRISTIAN CHURCH

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023

LONDON INTERNATIONAL CHRISTIAN CHURCH

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

Page 2

LONDON INTERNATIONAL CHRISTIAN CHURCH

LEGAL AND ADMINISTRATIVE INFORMATION For the year ended 31 December 2023

Trustees Mr. Michael Ricardo Hart (Chairman)
Dr. Jennifer Diane Watkins (Treasurer)
Mr. Jamie Gordine
Mr Jacobus Francois Eramus Groenawald
Charity Number 1124766
Company Number 6498898
Registered Office 59 Essex Park
London
N3 1ND
Independent examiner Victor Ochieng FCCA
Chartered Accountant
Ealing
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 2023

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 2023. 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 2020).

Objectives and activities

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 several 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 on 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

During the year the church met regularly for worship and carried out various activities in pursuit of our aims The church now has 15.1 people (FTE) employed in the ministry-involved in pastoral care, Bible teaching and leading Christian worship.

Page 2

LONDON INTERNATIONAL CHRISTIAN CHURCH

TRUSTEES’ REPORT (CONTINUED) For the year ended 31 December 2023

FINANCIAL REVIEW

Transactions and Financial position

The total income for 2023 was £993,789 (2022: £982,653). Of this £nil were restricted as set out in note 10 in the notes to the accounts. The total resources expended in the year were £998,862 (2022: £996,997).

The fund balance carried forward at 31[st] December 2023 was £34,945 on general unrestricted funds. The fund balance carried forward on restricted funds was £nil on 31st December 2023. The full Statement of Financial Activities is set out in the notes to the accounts.

The above results continue to be 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:

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.

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.

Page 3

LONDON INTERNATIONAL CHRISTIAN CHURCH

TRUSTEES’ REPORT (CONTINUED) For the year ended 31 December 2023

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:

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.

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.

Page 4

LONDON INTERNATIONAL CHRISTIAN CHURCH

TRUSTEES’ REPORT (CONTINUED) For the year ended 31 December 2023

Related Parties

London International Christian Church has no other related parties.

Risk management

The Trustees ‘risk management strategy comprises:

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 5

LONDON INTERNATIONAL CHRISTIAN CHURCH

STATEMENT OF TRUSTEES’ RESPONSIBILITIES For the year ended 31 December 2023

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:

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 29[th] September 2023 and signed on its behalf by:

…………………………………………………………………………..………………………………..

Mr. Michael Ricardo Hart Chairman

Page 6

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 2023.

Respective responsibilities of trustees and examiner

As the charity's trustees of the Company (and 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

  2. 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

  3. 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: 29[th ] September 2023

Page 7

LONDON INTERNATIONAL CHRISTIAN CHURCH

STATEMENT OF FINANCIAL ACTIVITIES (Incorporating income and expenditure account) For the year ended 31 December 2023

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
Unrestricted
Restricted
2023
2022
Funds
Funds
Total
Total
£
£
£
£
993,789
-
993,789
967,123
-
-
-
15,530
993,789
-
993,789
982,653
998,862
-
998,862
996,997
(5,073)
-
(5,073)
(14,344)
-
-
-
-
(5,073)
-
(5,073)
(14,344)
40,018
-
2
40,018
54,362
34,945
-
34,945
40,018

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.

These notes form part of the financial statements.

Page 8

LONDON INTERNATIONAL CHRISTIAN CHURCH

BALANCE SHEET As at 31 December 2023

Note
Fixed Assets
Tangible assets
6
Current Assets
Debtors
Prepayment
7
Cash at bank and in hand
Creditors:amounts falling due within one
year
8
Net Current assets
NET ASSETS
FUNDS
10
Restricted funds
Unrestricted - general funds		 31 Dec
31 Dec
2023
2022
£
£
£
£
15,695
12,546
28,521
-
30,798
-
13,118
22,575
41,639
53,373
(22,389)
(25,811)
19,250
27,562
34,945
40,108
-
-
34,945
40,108
34,945
40,108

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 2023. The members have not required the company to obtain an audit of its financial statements, for the year ended 31 December 2023 under Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

These notes form part of the financial statements.

Page 9

LONDON INTERNATIONAL CHRISTIAN CHURCH

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 December 2023

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 2020)', 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.

The bases of the estimates used were a common sense assessment of the nature of the costs involved.

Page 10

LONDON INTERNATIONAL CHRISTIAN CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

For the year ended 31 December 2023

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:

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 11

LONDON INTERNATIONAL CHRISTIAN CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2023

2. Donations and legacies

Provision of religious services
Unrestricted
Restricted
Fund
Fund
£
£
Direct Costs
Support Costs
867,284
131,578
-
-
998,862
-
NET INCOME / (EXPENDITURE) FOR THE YEAR
e net income / (expenditure) for the year is stated after charging:
Depreciation of tangible fixed assets
Accountancy fees
Unrestricted
Restricted
£
£
Donations ( Members and Public)
Other income – Kickstart &
Government Job Retention
Scheme
993,789
-
-
-
993,789
-		 Unrestricted
Fund
£
867,284
131,578
998,862
Unrestricted
£
993,789
-
993,789		 Restricted
Fund
£
-
-
Restricted
£
-
-
-		 Total
31 Dec
2023
£
837,629
127,079
998,862
31 Dec
2023
£
15,637
2,000
Total
31 Dec
2023
£
993,789
-
993,789		 Total
31 Dec
2022
£
865,665
131,332
Total
31 Dec
2022
£
967,123
15,530
982,653
- 996,997
31 Dec
2022
£
10,940
1,500

3. Provision of religious services

4. NET INCOME / (EXPENDITURE) FOR THE YEAR

The net income / (expenditure) for the year is stated after charging:

During the period ended, no Trustees received any remuneration (2023- £NIL). During the period ended, no Trustees received any benefits in kind (2023- £NIL). During the period ended, no Trustees received any reimbursement of expenses (2023- £NIL).

Page 12

LONDON INTERNATIONAL CHRISTIAN CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

For the year ended 31 December 2023

5. STAFF COSTS AND NUMBERS

Staff costs were as follows:

Wages and salaries
Social security costs
Other staff costs
The average number of full-time equivalent employees during the year was
Charitable activities
o employee had emoluments exceeding £60,000 (2022: none)
TANGIBLE FIXED ASSETS
Cost
At 1 January 2023
Additions
At 31 December 2023
Depreciation
At 1 January 2023
Charged in the year
At 31 December 2023
Net Book Value
31 December 2023
31 December 2022		 31 Dec
2023
£
338,825
24,515
-
363,340
as follows:
31 Dec
2023
£
15.1
15.1
Equipment
£
12,546
50,000
62,546
31,215
15,637
46,852
15,695
12,546		 31 Dec
2022
£
282,047
18,340
-
300,390
31 Dec
2022
£
14.3
14.3
Total
£
12,546
50,000
62,546
31,215
15,637
46,852
15,695
12,546

No employee had emoluments exceeding £60,000 (2022: none)

6. TANGIBLE FIXED ASSETS

Page 13

LONDON INTERNATIONAL CHRISTIAN CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2023

7.
DEBTORS
Gift Aid Rebate
Prepayments
8.
CREDITORS – AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accruals and other creditors
9. CREDITORS – AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Long term creditors		 31 Dec
2023
£
28,521
-		 31 Dec
2022
£
30,798
-
28,521 30,798
31 Dec
2023
£
-
22,389		 31 Dec
2022
£
-
25,811
22,389 25,811
31 Dec
2023
£
-		 31 Dec
2022
£
-

Page 14

LONDON INTERNATIONAL CHRISTIAN CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2023

10. MOVEMENT IN FUNDS

UNRESTRICTED FUNDS

General funds
SUMMARY OF FUNDS
Restricted funds
General funds		 Brought
forward
£
40,018
40,018
Brought
forward
£
-
40,018
40,018		 Incoming
resources
£
993,789
993,789
Incoming
resources
£
-
993,789
993,789		 Resources
expended
£
(998,862)
(998,862)
Resources
expended
£
-
(998,862)
(998,862)		 Transfers
£
-
-
Transfers
£
-
-
-		 Carried
forward
£
34,945
34,945
Carried
forward
£
-
34,945
34,945

SUMMARY OF FUNDS

11. SHARE CAPITAL

London International Christian Church is a company limited by guarantee and has no share capital.

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 15