KINGDOM LIGHT CENTRE LIMITED
COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021
Company reg. no 06025545 Charity reg. no. 1125789
DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
KINGDOM LIGHT CENTRE LIMITED
CONTENTS
| Reference and administrative details of the charity | 3 |
|---|---|
| Directors' report | 4 - 7 |
| Independent examiner's report | 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 - 14 |
KINGDOM LIGHT CENTRE LIMITED
Company Information
Directors/Trustees
Registered company number Charity number Registered office
Accountants
Mr Ayodele Adedoyin Mr Nicholas Chanda Mr Oladapo Badejo Mrs Adebola Oludare
6025545 1125789 25 Howard Drive Borehamwood Herts WD6 2PW
Tunji Ogedengbe 36 Daffodil Close Hatfield Hertfordshire ALI0 9FF
Page 3
KINGDOM LIGHT CENTRE LIMITED
DIRECTORS' REPORT FOR YEAR ENDED 31 DECEMBER 2021
The directors and trustees present their report and the accounts for the year ended 31 December 2021
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the the accounts and comply with the charity's memorandum and articles, applicable by law (Companies Act 2006 and Charities Act 2011) and the requirements of the Statement of Recommended Practice "Accounting and Reporting by Charities"issued in March 2005.
Legal and Administrative details
Kingdom Light Centre was incorporated as a private company, limited by guarantee, on 12/12/2006, company number 6025545
Trustees
The trustees who are also directors for the purposes of the Companies Act 2006 that served in the year were as follows:
Directors
Mr Ayodele Adedoyin Mr Nicholas Chanda Mr Oladapo Badejo Mrs Adebola Oludare
Structure, Governance and Management
Governing Document
The company is limited by guarantee and registered as a charity under the Charities ACT 2011. It is governed by its Memorandum and Articles of Association incorporated on 12/12/2006 . The company has applied for charitable status for taxation purposes and is currently a registered charity.
Anyone over the age of 16 can become a member of the company subject to approval by the trustees.
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KINGDOM LIGHT CENTRE LIMITED
DIRECTORS' REPORT (Continued) FOR YEAR ENDED 31 DECEMBER 2021
Governing document continued…..
No director has any beneficial interest in the charitable company. The number of guarantees at 31 December 2016 was three. Every member of the Charity promises that if the Chairty is dissolved while he or she is a member or within twelve months after he or she ceases to be a member, to contribute such sum (not exceeding £10) that may be demanded towards the payment of debts and liabilities of the Charity.
Recruitment and Appointment of Trustees
Appointment of trustees begun from the first annual general meeting and was in accordance with the articles of association. At every subsequent annual general meeting, one third of the trustees are subject to retirement by rotation.
If the company at the meeting at which a trustee retires by rotation does not fill the vacancy the retiring trustee shall, if willing to act, be deemed to be reappointed unless at the meeting it is resolved not to fill the vacancy or unless a resolution is put to the meeting and lost. The number of trustees shall not be less than two and are not subject to any maximum . Trustees have the power to co opt members to a commitee so long as those co opted members do not exceed one half of the total number of trustees on that committee.
Trustee Induction and Training
Any new trustees undergo an orientation day to brief them on their legal obligations under Charity and Company Law, the content of the Memorandum and Articles of Association and the processes on decision making within the organisation. The Charity encourages trustees to attend, at their discretion; appropriate external training events were these will be of use for the undertaking of the role.
Organisational Structure
The trustees, which at present there are four, provide the strategic direction of the charity. The aims and objectives are communicated to the congregation and members of the church.
Assets held on behalf of another charity
There are no assets held on behalf of another charity.
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KINGDOM LIGHT CENTRE LIMITED
DIRECTORS' REPORT (Continued) FOR YEAR ENDED 31 DECEMBER 2021
Risk Management
The trustees have a risk management strategy that includes:
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i. An annual review of the risks the charity may face;
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ii. The establishment of systems and procedures to mitigate those risks identified in the plan;
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iii. The implementation of procedures designed to minimise any potential impact on the charity should they materialise.
Financial risk is to be mitigated by the secretary monitoring the bank frequently to ensure no losses from error or fraud take place.
The policies of risk management are continuously reviewed to ensure they still meet the needs of the charity.
Objectives
The charity's objects are:
-
The advancement of the Christian religion worldwide
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The relief of poverty worldwide.
-
To impact the community in every positive way possible.
It pursues these objects by the operation of a centre for Christian worship at its premises in the town centre of Hatfield and by a programme of events aimed at reaching out to the un-churched together with a range of community-centred projects. These objectives have continued throughout the year and remain unchanged.
The strategies employed to achieve the charity's objectives are to:
To establish churches, cell groups, and community centres
To promote festivals celebrations and exhibitions and otherwise develop community and fellowship To coordinate advise and administer churches
To carry out and direct disciplineship evangelistic missionary and ecumenical activity To support administer or set up other charities
To set up, administer or support training and educational facilities including but not limited to day nurseries, playschools and other educational establishments.
To provide advice, resources and services to those affected by social and economic circumstances To establish and maintain development projects in small scale economic development and medical programmes.
To make investments in the aid of the finances to carry on further activities.
The charity has serveral powers permitted by the Memorandum of Association that allow the above strategies be achieved.
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KINGDOM LIGHT CENTRE LIMITED
DIRECTORS' REPORT (Continued) FOR YEAR ENDED 31 DECEMBER 2021
Activities for public benefit
The charity's main activities for the year were:
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Established forums to reach out to the community
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Promoted festivals, celebrations and exhibitions and outreaaches
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Feeds the Homeless on Tuesdays and Thursdays
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Drop in center for young people on Friday nights where young people age 12-17 come in to play like table tennis, pool, scrabble etc and have tea and coffee.
Charity fund raising
The church has regular and commited members who give tithes and other donations for the furtherance of the church's activities.
Achievements and Performance
The trustees are pleased to report the following that during the year reported the charity achieved the following:
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Built a wider network of relationships within the local community to enable the community's involvement in the charity's exhibitions,
-
Played key role in the establishment of street pastors in
• Organizing/supporting Family fun days with other churches in town during which we had a "give away"stall and gave out to items ranging from clothing to household items and small electrical appliances (donated by memebers) to 125 people in the community free of charge
-
We have been able to provide music and refreshments in the market square every quarter
-
We organised and hosted a musical festival for the town.
Approved by Ayodele Adedoyin on behalf of the trustees
Date:23rs Sept 2022
Page 7
KINGDOM LIGHT CENTRE LIMITED
INDEPENDENT EXAMINER'S REPORT FOR YEAR ENDED 31 DECEMBER 2021
TO THE DIRECTORS OF - Kingdom Light Centre Limited
I report on the accounts of the charity for the year ended 31 December 2021 which is set out on pages 9 to 14.
RESPECTIVE RESPONSIBILITIES OF THE DIRECTORS AND THE EXAMINER
The charity's directors are responsible for the preparation of the accounts. The charity's directors consider that an audit is not required for this year under section 476 of the Companies Act 2006 and that an independent examination is needed.
It is my responsibility to:
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, • examine the accounts under section 145 of Charities Act 2011;
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, • follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
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, • state whether particular matters have come to my attention.
BASIS OF EXAMINER'S STATEMENT
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Directors concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair" view and the report is limited to those matters set out in the statements below.
EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
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1 which gives me reasonable cause to believe that in any material respect the requirements
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to keep accounting records in accordance with the requirement of Section 386 and 387 of the Companies Act 2006; and
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to prepare accounts which accord with the accounting records and to
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comply with the accounting requirements of Section 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
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2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Tunji Ogedengbe 36 Daffodil Close Hatfield Hertfordshire AL10 9FF
Date: 23rd Sept 2022
Page 8
KINGDOM LIGHT CENTRE LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2021
| Notes INCOMING RESOURCES 2 Donations, legacies & similar incoming resources Activities in furtherance of charity's object Donation received Gift aid Receivable Total incoming resources RESOURCES EXPENDED Grants payable - individual Cost of generating funds 4 Costs of activities in furtherance of charities objects 5 Management and governance costs Total resources expended Funds written off Net (Outgoing)/Income resources for year Prior Year Adjustment Balance b/fwd BALANCE AT END OF YEAR |
2021 2020 Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ £ 118,788 118,788 77,343 - - - - - - - - - - |
|---|---|
| 118,788 - 118,788 77,343 |
|
| - - - 11,989 - 11,989 3,227 60,037 - 60,037 41,002 298 - 298 298 |
|
| 72,324 - 72,324 44,527 |
|
| 46,464 - 46,464 32,816 - 2,795 - 594,384 594,384 564,363 |
|
| 640,848 - 640,848 594,384 |
The statement of financial activities includes all surpluses and deficits recognised in the year.
All incoming resources and resources expended derive from continuing activities.
Page 9
KINGDOM LIGHT CENTRE LIMITED Balance Sheet
AS AT 31 DECEMBER 2021
| Notes FIXED ASSETS Tangible assets 10 CURRENT ASSETS Debtors: amounts falling due after more than one year Cash at Bank Creditors: amounts falling due within one year 12 Creditors: amounts falling due more than one year 12 NET ASSETS CHARITY FUNDS General - unrestricted 1d General - restricted 1e TOTAL FUNDS |
2021 2020 Total Total Funds Funds £ £ 495,618 495,618 145,480 99,016 |
|---|---|
| 145,480 99,016 |
|
| 250 250 |
|
| 250 250 |
|
| - - |
|
| 640,848 594,384 |
|
| 640,848 594,384 |
|
| 640,848 594,384 |
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
-
The members have not required the company to obtain an audit of its accounts 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 accounts.
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
These financial statements were approved by the Trustees on 23rd Sept 2022 and signed on their behalf by:
Ayodele Adedoyin - Trustee
Page 10
KINGDOM LIGHT CENTRE LIMITED
Notes to the Financial Statements FOR YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES Basis of preparation
The accounts have been prepared under the historical cost convection and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Instruments and Fixtures 20% Straight line Mini Bus 25% Straight line
Taxation
The charitable company has dormant status for corporation tax by HMRC.
2. DONATIONS AND GIFTS
| 2. DONATIONS AND GIFTS | |
|---|---|
| Offering Gift Aid HMRC JRS Grant Love Your Neighbour Project |
2021 2020 £ £ 83,086 47,774 3,485 12,762 11,917 16,807 20,300 |
| 118,788 77,343 |
3. ACTIVITIES FOR GENERATING FUNDS
| 2021 | 2020 |
|---|---|
| £ | £ |
| - | - |
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KINGDOM LIGHT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2021
4. COSTS OF GENERATING FUNDS
| Office expenses Utilities Insurance Children Maintenance & Gardening 5. CHARITABLE ACTIVITIES Salary related costs Honoraria payments Stationary and printing Conference costs Training Central Office/WEM Office expenses Welfare Charges Hospitality Web & Telephone Donation/Gifts Music Charity Vehicle expenses and travel costs Zonal dues Equipment Training Other miscellaneous expenses Love your neighour |
2021 2020 £ £ 3,401 936 1,352 1,151 1,209 - - - 6,027 1,140 |
|---|---|
| 11,989 3,227 |
|
| 2021 2020 £ £ 27,556 30,768 1,200 720 27 53 373 591 220 129 - 500 48 336 980 1,096 760 182 276 576 571 300 110 1,988 1,850 2,882 1,420 1,759 - 85 1,288 87 550 668 420 370 20,300 |
|
| 60,037 41,002 |
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KINGDOM LIGHT CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2021
6. GOVERANCE COSTS
| 6. GOVERANCE COSTS | ||
|---|---|---|
| Accountancy fees Legal and professional fees 7. ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible fixed assets Current assets Current liabilities 8. RESTRICTED FUNDS |
2020 2021 £ £ 250 250 300 48 550 298 Restricted Unrestricted 2021 2021 £ £ £ £ 495,618 495,618 495,618 145,480 145,480 99,016 250 - 250 - 250 - |
2020 2021 £ £ 250 250 300 48 |
| 550 298 |
||
| - - 640,848 640,848 594,384 |
||
| 2021 B/f Incoming Outgoing PYA Total £ £ £ £ £ 594,384 118,788 72,324 - - 640,848 |
||
| 594,384 118,788 72,324 - 640,848 |
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KINGDOM LIGHT CENTRE LIMITED
Notes to the Financial Statements - continued FOR YEAR ENDED 31 DECEMBER 2021
9. UNRESTRICTED FUNDS
Funds from Tithes and church offerings consist of the majority of the unrestricted funding.
10. TANGIBLE FIXED ASSETS
| Cost As at 1 January 2021 Additions At 31 December 2021 Depreciation As at 1 January 2021 Charge for the year At 31 December 2021 Net book value At 31 December 2020 At 31 December 2021 11. DIRECTORS AND EMPLOYEES Staff costs were as follows: Wages and salaries Social security costs |
Property Mini Bus Total £ £ £ 495,618 495,618 - - - |
Property Mini Bus Total £ £ £ 495,618 495,618 - - - |
|---|---|---|
| 495,618 | - 495,618 |
|
| - - - |
||
| - | - - |
|
| 495,618 | - 495,618 |
|
| 495,618 | - 495,618 |
|
| 2021 2020 £ £ - |
||
| - - |
The directors did not receive any remuneration or expenses.
The average number of staff employed by the charity during the year was 3. There were no employees whose emoluments amounted to over £60,000 in the year. There were no employees for whom retirement benefits are accuring under a money purchase pension scheme.
KINGDOM LIGHT CENTRE LIMITED
Notes to the Financial Statements - continued FOR YEAR ENDED 31 DECEMBER 2021
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |
|---|---|
| Accruals and deferred income | 2021 2020 £ £ 250 250 |
| 250 250 |
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