Registered number: 1137005
LIGHT HOUSE ASSEMBLY HACKNEY DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
Seniguk Consulting ltd Harlow Enterprise Hub Harlow Essex CM20 2NQ
LIGHT HOUSE ASSEMBLY HACKNEY Directors' Report and Unaudited Financial Statements For The Year Ended 31 December 2022
| 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 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Income and Expenditure Account | 8 |
LIGHT HOUSE ASSEMBLY HACKNEY Company Information For The Year Ended 31 December 2022
Trustees Pastor Akintayo Aiyegbusi Mr Obafemi Jaiyeola Rose Aigbogun Charity Number 1137005 Registered Address Unit 7B Bison House Sedgwick Street Off Homerton High Street London E9 6AA Accountants Seniguk Consulting ltd Harlow Enterprise Hub Harlow Essex CM20 2NQ
Page 1
LIGHT HOUSE ASSEMBLY HACKNEY Company No. 1137005 Report For The Year Ended 31 December 2022
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:
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Select suitable accountable policies and then apply them consistently;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards and statements of recommended practice have been followed subject to any departure disclosed and explained in the financial statements ;
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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 2022 were as follows: Mr Obafemi Jaiyeola Pastor Akintayo Aiyegbusi Rose Aigbogun
On behalf of the Board
Date
Akintayo Aiyegbusi
Page 2
LIGHT HOUSE ASSEMBLY HACKNEY Accountants' Report For The Year Ended 31 December 2022
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 2022 which comprises the Statement of Financial activities, Balance Sheet and the related notes set out on page 8. These financial statements have been prepared under the historic cost convention and the account policies set out on page 8.
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 2.
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 2022 and of its incoming resources and applications of resources for the period then ended and have been properly prepared in accordance with Charities
Signed
Date
Seniguk Consulting ltd Harlow Enterprise Hub Harlow Essex CM20 2NQ
Page 3
LIGHT HOUSE ASSEMBLY HACKNEY Income and Expenditure Account For The Year Ended 31 December 2022
| Notes TURNOVER Cost of sales GROSS SURPLUS Administrative expenses OPERATING SURPLUS AND SURPLUS FOR THE FINANCIAL YEAR |
2022 £ 96,228 (878 ) 95,350 (81,911 ) 13,439 |
2021 £ 83,313 (2,079 ) 81,234 (77,165 ) 4,069 |
|---|---|---|
The notes on pages 7 to 8 form part of these financial statements.
Page 4
LIGHT HOUSE ASSEMBLY HACKNEY Balance Sheet As At 31 December 2022
| Notes FIXED ASSETS Tangible Assets 4 CURRENT ASSETS Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 5 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS Income and Expenditure Account MEMBERS' FUNDS |
2022 £ £ 2,055 2,055 33,699 33,699 (1,118 ) 32,581 34,636 34,636 34,636 34,636 |
2021 £ £ 2,740 2,740 18,457 18,457 - 18,457 21,197 21,197 21,197 21,197 |
|---|---|---|
On behalf of the board
Date
Obafemi Jaiyeola
Page 5
LIGHT HOUSE ASSEMBLY HACKNEY Statement of Changes in Equity For The Year Ended 31 December 2022
| As at 1 January 2021 Profit for the year and total comprehensive income As at 31 December 2021 and 1 January 2022 Profit for the year and total comprehensive income As at 31 December 2022 |
Income and Expenditure Account £ 17,128 4,069 21,197 13,439 34,636 |
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Page 6
LIGHT HOUSE ASSEMBLY HACKNEY Notes to the Financial Statements For The Year Ended 31 December 2022
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery | 3502 |
|---|---|
| Fixtures & Fittings | 1006 |
2. Tangible Assets
| Cost As at 1 January 2022 As at 31 December 2022 Depreciation As at 1 January 2022 Provided during the period As at 31 December 2022 Net Book Value As at 31 December 2022 As at 1 January 2022 |
Plant & Machinery £ 19,774 19,774 17,646 532 18,178 1,596 2,128 |
Fixtures & Fittings £ 5,263 5,263 4,651 153 4,804 459 612 |
Total £ 25,037 |
|---|---|---|---|
| 25,037 | |||
| 22,297 685 |
|||
| 22,982 | |||
| 2,055 | |||
| 2,740 |
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LIGHT HOUSE ASSEMBLY HACKNEY Detailed Income and Expenditure Account For The Year Ended 31 December 2022
| TURNOVER HMRC Rebates Tithe and Offering Rental income COST OF SALES Cost of Generating Funds- Love offering GROSS SURPLUS Administrative Expenses Wages and salaries Employers NI Welfare Travel and subsistence expenses Rent Light and heat Water bill Repairs, renewals and maintenance Insurance Printing and stationery (General admin) Honorarium Postage Telephone Accountancy fees Professional fees/Instrumentalist Services Charge Subscriptions to Central Office(General admin) Subscriptions to World-Evang Books and Publication Bank charges Charitable donations Other office costs Depreciation Subscription OPERATING SURPLUS AND SURPLUS FOR THE FINANCIAL YEAR |
2022 £ £ 17,775 75,627 2,826 96,228 878 (878 ) 95,350 35,502 4,659 1,391 1,169 17,500 1,240 320 1,447 456 1,260 2,082 286 839 960 2,400 1,118 1,250 3,295 612 78 694 2,061 685 607 (81,911 ) 13,439 |
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 |
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