OpenCharities

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

2021-12-31-accounts

Charity number: 1137005

LIGHT HOUSE ASSEMBLY HACKNEY REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Seniguk Consulting ltd

Ground Floor, 2 Woodberry Grove

London N12 0DR

LIGHT HOUSE ASSEMBLY HACKNEY Report and Unaudited Financial Statements For The Year Ended 31 December 2021

Contents
Page
Statutory Information 1
Report of the Trustees 2
Accountants' Report 3
Income and Expenditure Account 4
Balance Sheet 5
Statement of Changes in Equity 6
Notes to the Financial Statements 7—8
The following pages do not form part of the statutory accounts:
Detailed Income and Expenditure Account 9
LIGHT HOUSE ASSEMBLY HACKNEY
Charity Information
For The Year Ended 31 December 2021
Trustees Pastor Akintayo Aiyegbusi
Mr Obafemi Jaiyeola
Rose Aigbogun
1137005
Charity Number
Registered Address Unit 7B Bison House
Sedgwick Street
Off Homerton High Street
London
E9 6AA
Accountants Seniguk Consulting ltd
Ground Floor, 2 Woodberry Grove
London
N12 0DR

LIGHT HOUSE ASSEMBLY HACKNEY Charity No. 1137005 Report For The Year Ended 31 December 2021

REPORT OF THE TRUSTEES

Trustee’s Responsibilities in Relation to the Financial Statements

Law applicable to charities in England and Wales requires the trustees to prepare Financial Statements for each Financial year, which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:

  1. Select suitable accountable policies and then apply them consistently;

  2. Make judgements and estimates that are reasonable and prudent;

  3. State whether applicable accounting standards and statements of recommended practice have been followed subject to any departure disclosed and explained in the financial statements ;

  4. Prepare the financial statements on the going concern basis unless it is in appropriate to presume that the charity will continue in business.

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees who held office during the period ending 31 December 2021 were as follows:

Mr Obafemi Jaiyeola Pastor Akintayo Aiyegbusi Rose Aigbogun

On behalf of the Trustees

Pastor Akintayo Aiyegbusi Chairman

LIGHT HOUSE ASSEMBLY HACKNEY Accountants' Report For The Year Ended 31 December 2021

INDEPENDENT ACCOUNTANT REPORT

We have prepared the financial statements of The Redeemed Christian Church of God Light House Assembly for the period ended 31 December 2021 which comprises the Statement of Financial activities, Balance Sheet and the related notes set out on page 9 to 12. These financial statements have been prepared under the historic cost convention and the account policies set out on page 9.

This report is made solely for the trustees in accordance with Section 44 Charities Act 1993. Our accounting work has been undertaken so that we might state to the Trustees those matters we are required to state to them in our Accountants’ report and for no other purposes. Fully permitted by law, we do not accept or assume responsibility to anyone other than the Trustees of the Association, for our accounting work, for this report, or for the opinion we have formed.

Respective Responsibilities of Trustees and Accountants

The trustees’ responsibilities for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards are set out in the Statement of Trustees’ Responsibilities on page 4.

Our responsibilities are to prepare the financial statements in accordance with relevant legal and regulatory requirements and United Kingdom Accounting Standards.

We report to the trustees our opinion whether the financial statements give a true and fair view and are prepared in accordance with the Charities Act 1993. We also report to you if, in our opinion, the Trustees’ Annual Report is not consistent with the financial statements, if the charity has not kept proper accounting records, or if we have not received all the Information and explanation we require for the preparation of the financial statements.

We read the information contained in the Trustees’ Annual Report and consider whether it is consistent with the financial statements. We consider the implication for our report if we become aware of any apparent misstatements or material inconsistencies with the financial statements. Our responsibilities do not extend to any other information.

Basis of opinion

We have prepared the financial statements with the United Kingdom Accounting Standards issued by the Accounting Standards Board. The preparation includes examination, on a test basis of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgement made by the trustees in the preparation of the financial statements, and of whether the accounting policies are appropriate to the charity’s circumstances, consistently applied and adequately disclosed.

We planned and performed our preparation to obtain all information and explanations that we considered necessary to provide us with sufficient evidence to give reasonable assurance as to whether the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion, we also evaluate the overall adequacy of the presentation of information in the financial statements.

Unqualified opinion

In our opinion, the financial statements give a true and fair view of the charity as at 31 December 2021 and of its incoming resources and applications of resources for the period then ended and have been properly prepared in accordance with Charities

…………………………………………………

14/06/2022

Seniguk Consulting ltd Ground Floor, 2 Woodberry Grove London N12 0DR

LIGHT HOUSE ASSEMBLY HACKNEY Income and Expenditure Account For The Year Ended 31 December 2021

Notes
TURNOVER
Cost of sales
GROSS SURPLUS
Administrative expenses
OPERATING SURPLUS AND SURPLUS FOR
THE FINANCIAL YEAR		 2021
£
83,313
(2,079 )
81,234
(77,165)
4,069		 2020
£
67,403
-
67,403
(57,230 )
10,173

The notes on pages 7 to 8 form part of these financial statements.

LIGHT HOUSE ASSEMBLY HACKNEY
Balance Sheet
As at 31 December 2021		 LIGHT HOUSE ASSEMBLY HACKNEY
Balance Sheet
As at 31 December 2021		 LIGHT HOUSE ASSEMBLY HACKNEY
Balance Sheet
As at 31 December 2021
Notes
FIXED ASSETS
Tangible Assets
3
CURRENT ASSETS
Cash at bank and in hand
NET CURRENT ASSETS
(LIABILITIES)
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
Income and Expenditure Account
MEMBERS' FUNDS		 2021
£
£
2,740
2,740
18,457
18,457
18,457
21,197
21,197
21,197
21,197		 2020
£
£

3,652

3,652
13,476
13,476

13,476

17,128

17,128

17,128

17,128
3,652


13,476
17,128
17,128
17,128
17,128
2,740


18,457
18,457 13,476
21,197
21,197
21,197
21,197

………………………………………………

Pastor Akintayo Aiyegbusi Chairman

LIGHT HOUSE ASSEMBLY HACKNEY Notes to the Financial Statements For The Year Ended 31 December 2021

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

a) Accounting Convention

The financial statements are prepared under the historical cost convention. In preparing the financial statements, the charity follows the best practice as laid down in the Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (SORP 2000) issued in October 2000.

To comply fully with the statement of Recommended Practice, would require investments to be accounted for at valuation. The trustees believe since the investments are held for the long term, it would be inappropriate to account for unrealised gains and losses for the period. Therefore, investments have been accounted for at historical cost. This is the only exception to compliance with the Statement of Recommended Practice. The market value of the investments is disclosed.

1.2. Turnover

a) Income from members is credited to the income in the year in which it is receivable by the association. All other income is credited to income in the year in which it is received on a cash basis.

b) Donations to other charities are charged in the year when the offer is conveyed to the recipients except in the cases of where the offer is conveyed to the recipients except in those cases where the offer is conditioning, such as donations or grants being recognised as expenditures when the conditions attached are fulfilled. c) Unrestricted funds are general funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the association and which have not been designated for other purposes.

1.3. Tangible Fixed Assets and Depreciation

The tangible assets are stated at cost less depreciation. The general policy is to provide depreciation on fixed assets on a reducing balance method over their estimated useful lives. No depreciation is charged in the year in which the assets are sold or scrapped

Tangible fixed assets are depreciated at rates appropriate to the assets concerned:

Plant & Machinery 3502 Fixtures & Fittings 1006

3. Tangible Assets

Cost
As at 1 January 2021
As at 31 December 2021
Depreciation
As at 1 January 2021
Provided during the period
As at 31 December 2021
Net Book Value
As at 31 December 2021
As at 1 January 2021		 Plant &
Machinery
£
19,774		 Fixtures &
Fittings
£

5,263		 Total
£

25,037
19,774
5,263
25,037
16,937
709
4,448

203
21,385

912
17,646
4,651
22,297
2,128
612
2,740
2,837
815
3,652

LIGHT HOUSE ASSEMBLY HACKNEY Detailed Income and Expenditure Account For The Year Ended 31 December 2021

TURNOVER
HMRC Rebates
Tithe and Offering
Refunds
Rental income
Grant income
COST OF SALES
Cost of Generating Funds- Love offering
GROSS SURPLUS
Administrative Expenses
Wages and salaries
Employers NI
Staff Training
Welfare
Travel and subsistence expenses
Hotel expenses
Rent
Rates
Light and heat
Water bill
Insurance
Printing and stationery (General admin)
Honorarium
Telephone
Accountancy fees
Professional fees/Instrumentalist
Services Charge
Subscriptions to World-Evang
Books and Publication
Bank charges
Charitable donations
Other office costs
Depreciation
Subscription
OPERATING SURPLUS AND SURPLUS FOR
THE FINANCIAL YEAR		 2021
£
£
9,033
73,608
-
672
-
83,313
2,079
(2,079 )
81,234
23,352
2,933
-
1,279
49
-
29,761
-
868
317
456
643
-
947
870
4,602
1,118
100
463
78
2,995
5,422
912
-
(77,165 )
4,069		 2021
£
£
9,033
73,608
-
672
-
83,313
2,079
(2,079 )
81,234
23,352
2,933
-
1,279
49
-
29,761
-
868
317
456
643
-
947
870
4,602
1,118
100
463
78
2,995
5,422
912
-
(77,165 )
4,069		 2020
£
£

13,523

48,479

1

400

5,000

67,403
-

-

67,403
14,100
29
1,550
3,981
688
638
20,400
142
826
376
-
979
615
430
750
250
1,383
-
305
78
5,090
3,644
856
120

(57,230 )

10,173		 2020
£
£

13,523

48,479

1

400

5,000

67,403
-

-

67,403
14,100
29
1,550
3,981
688
638
20,400
142
826
376
-
979
615
430
750
250
1,383
-
305
78
5,090
3,644
856
120

(57,230 )

10,173
83,313

(2,079 )		 67,403

-
23,352
2,933
-
1,279
49
-
29,761
-
868
317
456
643
-
947
870
4,602
1,118
100
463
78
2,995
5,422
912
-

14,100
29
1,550
3,981
688
638
20,400
142
826
376
-
979
615
430
750
250
1,383
-
305
78
5,090
3,644
856
120
81,234
























(77,165 )		 67,403
























(57,230 )

4,069 10,173