2021-03-31-accounts - Living Word Community Church

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Registered number 07338966

Living Word Community Church

Company Limited By Guarantee

Report and Unaudited Accounts

31 March 2021

Charity Number 1141829

TRUEMAN BROWN CHARTERED ACCOUNTANTS 7 FOXGLOVE ROAD SOUTH OCKENDON ESSEX. RM15 6EU

Living Word Community Church Company Limited By Guarantee Report and accounts Contents

	Page
Company information	1
Trustees Report	2
Statement of financial activities	7
Balance sheet	8
Cash flow statement	9
Notes to the accounts	10

Living Word Community Church Company Limited By Guarantee Company Information

Directors

S Blake D J Donoghue B Foster S Mulaka

Accountants

Trueman Brown 7 Foxglove Road South Ockendon Essex RM15 6EU

Registered office

7 Foxglove Road South Ockendon Essex RM15 6EU

Registered number 07338966

Living Word Community Church Company Limited By Guarantee Trustees Annual Report

The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31st March 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity name Living Word Community Church Charity registration number 1141829 Company registration number 7338966 Registered office 7 Foxglove Road South Ockendon Essex, RM15 6EU

THE TRUSTEES

The trustees who served the charity during the year were as follows:

S Blake D J Donoghue B Foster S Mulaka Accountants Trueman Brown Chartered Accountants 7 Foxglove Road South Ockendon Essex. RM15 6EU

Living Word Community Church Company Limited By Guarantee Trustees Annual Report

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee, incorporated on 6th August 2010 and registered as a charity on 11th May 2011. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of management committee

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Management Committee.

Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.

One third of the trustees who are subject to retirement by rotation or, if their number is not three or a multiple of three, the number nearest to one third shall retire from office.

The first trustees to retire shall be decided by lots drawn amongst themselves.

In selecting individuals for appointment as trustees, the trustees must have regard to the skills, knowledge and experience required for the effective administration of the charity.

Trustee training and induction

Most trustees are already familiar with the practical work of the charity.

Additionally, new trustees will be invited and encouraged to attend a series of short training sessions (of no more than an hour) to familiarise themselves with the charity and the context within which it operates. These cover:

The obligations of Management Committee members;
The main documents which set out the operational framework for the charity including the Memorandum and Articles;
Resourcing and the current financial position as set out in the latest published accounts;
Future plans and objectives;

A Question and Answer pack has also been prepared drawing information from the various Charity Commission publications signposted through the Commission's guide "the Essential Trustee" as a follow up to these sessions. This is distributed to all new trustees along with the Memorandum And Articles and the latest financial statements.

Living Word Community Church Company Limited By Guarantee Trustees Annual Report

Risk management

The Management Committee has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Significant external risks to funding have led to the development of a strategic plan which will allow for the diversification of funding and activities. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the centre.

Organisational structure

The Company has a Management Committee of no less than 3 Trustees who meet regularly and are responsible for the strategic direction and policy of the charity. At present the Committee has five Trustees from a variety of professional backgrounds relevant to the work of the charity.

A scheme of delegation is in place and day to day responsibility for the provision of the services rest with the Pastor and the Administration Assistant. The Pastor is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The Administration Assistant has responsibility for the day to day operational management of the charity and working practices in line with good practice.

OBJECTIVES AND ACTIVITIES

The company's objects and principal activities are to:

advance the Christian faith in accordance with the Statement of Beliefs in such parts of Basildon, the United Kingdom or the World as the Trustees may from time to time think fit;
to relieve persons who are in conditions of need, financial hardship or sickness and who may be aged and to relieve the distress caused thereby in the said location and in such other parts of the United Kingdom or the World as the Trustees may from time to time think fit;
advance Christian education in The said location and in such other parts of The United Kingdom the World as the Trustees may from time to time think fit;
provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.

ACHIEVEMENTS AND PERFORMANCE

The company represents the incorporation of the charitable trust, Essex In Harvest (Billericay) Trust, which was registered with Charities Commission under the number 293710.

The company commenced its activities on 23rd December 2011.

Living Word Community Church Company Limited By Guarantee Trustees Annual Report

FINANCIAL REVIEW

The company, with the aid of sound financial management and the support of both its staff and volunteers generated a positive financial outcome for the period with a net decrease in fund of £102,582 (2020: Increase of £8,757).

The company will rely on the generosity of the congregation attending our weekly church meetings and Sunday Services provided at the Wat Tyler Centre.

PLANS FOR FUTURE PERIODS

The company will continue its core activities for the foreseeable future.

RESPONSIBILITIES OF THE TRUSTEES

The trustees (who are also the directors of Living Word Community Church for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

· select suitable accounting policies and then apply them consistently;

· observe the methods and principles in the Charities SORP;

· 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;

· prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees 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.

Living Word Community Church Company Limited By Guarantee Trustees Annual Report

ACCOUNTANTS

Trueman Brown are deemed to be re-appointed under section 487(2) of the Companies Act 2006.

This report was approved by the trustees on 19 May 2021 and signed on its behalf.

D J Donoghue Director

Living Word Community Church Company Limited By Guarantee Statement Of Financial Activities (Incorporating The Income And Expenditure Account) for the year ended 31 March 2021

Notes Incoming resources from generating funds: Voluntary Income 2 Investment income 3 Other incoming resources 4 Total incoming resources Charitable activities 5 Governance costs 7 8 Total funds brought forward Total funds carried forward Net incoming resources for the year/Net income for the year	Unrestricted Restricted Total Total Funds Funds Funds Funds 2021 2021 2021 2020 £ £ £ £ 82,059 95,180 177,239 81,320 1,626 - 1,626 2,220 4,188 - 4,188 3,258 87,873 95,180 183,053 86,798 (73,844) - (73,844) (74,550) (7,838) - (7,838) (21,005) 6,191 95,180 101,371 (8,757) 249,905 - 249,905 258,662 256,096 95,180 351,276 249,905

The Statement of Financial Activities includes all the gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities

Living Word Community Church Company Limited By Guarantee Balance Sheet as at 31 March 2021

Notes Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Net assets Funds Unrestricted income funds 14 TOTAL FUNDS	2021 2021 Unrestricted Restricted £ £ 3,634 - 663 - 251,821 95,180 252,485 95,180 (23) - 252,462 95,180 256,096 95,180 256,096 95,180 256,096 95,180	2021 2020 Total Total £ £ 3,634 1,774 663 663 347,001 247,491 347,664 248,154 (23) (23) 347,642 248,131 351,276 249,905 351,276 249,905 351,276 249,905

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime, so far as applicable to charities.

D J Donoghue Director Approved by the board on 19 May 2021

Living Word Community Church Statement Of Cash Flows for the year ended 31 March 2021

Note Cash used in operating activities 17 Cash flows from investing activities Interest income Purchase of tangible fixed assets Net increase/(decrease) in cash Cash at bank and in hand less overdrafts at 1 April Cash at bank and in hand less overdrafts at 31 March	2021 £ 100,957 1,626 (3,072) (1,446) 99,510 247,491 347,001	2020 £ (10,205) 2,220 (1,154) 1,066 (9,138) 256,629 247,491

Living Word Community Church Company Limited By Guarantee Notes to the Accounts for the year ended 31 March 2021

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Statement Of Recommended Practice "Accounting and Reporting By Charities" issued in March 2005 (SORP 2005) and the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Fund accounting

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objectives.

Resources expended

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation commiting the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings tht aggregate all costs related to that category. Donations payable are payments made to third parties in furtherance of the charitable objectives of the charity. Single or multi-year donations are accounted for when either the recipient has a reasonable expectation that they will receive the donation.

Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Equipment

25% on the written down value

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt.

Living Word Community Church Company Limited By Guarantee Notes to the Accounts for the year ended 31 March 2021

2 Voluntary Income Unrestricted Funds 2021 £ Tithes 48,308 Gift aid tax recovered 13,741 Gifts, donations and offerings 20,010 82,059 3 Investment income Unrestricted Funds 2021 £ Bank interest receivable 1,626 1,626 4 Other incoming resources Unrestricted Funds 2021 £ Other income 4,188 4,188 5 Cost of charitable activities by fund type Unrestricted Funds 2021 £ Programme activity costs 56,282 Support of outside causes 17,562 73,844	Restricted Funds 2021 £ - - 95,180 95,180 Restricted Funds 2021 £ - - Restricted Funds 2021 £ - - Unrestricted Funds 2021 £ - - -	Total Funds 2021 £ 48,308 13,741 115,190 177,239 Total Funds 2021 £ 1,626 1,626 Total Funds 2021 £ 4,188 4,188 Total Funds 2021 £ 56,282 17,562 73,844
			Total Funds 2020 £ 49,796 15,830 15,694 81,320

			Total Funds 2020 £ 2,220 2,220

			Total Funds 2020 £ 3,258 3,258

			Total Funds 2020 £ 61,935 12,615 74,550

Living Word Community Church Company Limited By Guarantee Notes to the Accounts for the year ended 31 March 2021

6 Costs of charitable activities by activity type

The charity undertakes its charitable activity by a programme of activities and by giving donations to a number of institutions in furtherance of its charitable activities.

Programme activity costs Support of outside causes The recipients of donations included: Barnabas Lifelink Zimbabwe Mission School Teams Ministry Overseas Mission O2H Mission	Activities Undertaken Directly 2021 £ 56,282 17,562 73,844	Total Funds 2021 £ 56,282 17,562 73,844 2021 £ - 4,952 4,220 920 - 300
			Total Funds 2020 £ 61,935 12,615 74,550

			2020 £ 630 4,481 - 950 160 -

7 Governance costs

Staff training & welfare Insurance Cleaning Hire of premises Legal & other professional fees Telephone and internet Depreciation Computer expenses Printing, postage, stationary and advertising Information and publications Bank charges Repairs and maintenance Accountancy fees Subscriptions Sundry expenses	Unrestricted Funds 2021 £ - 299 130 1,200 945 1,095 1,212 692 480 273 88 129 473 80 742 7,838	Unrestricted Funds 2021 £ - - - - - - - - - - - - - - - -	Total Funds 2021 £ - 299 130 1,200 945 1,095 1,212 692 480 273 88 129 473 80 742 7,838	Total Funds 2020 £ 343 541 - 13,759 1,122 949 591 - 1,234 - 38 205 633 - 1,590 21,005

Living Word Community Church Company Limited By Guarantee Notes to the Accounts for the year ended 31 March 2021

8 Net incoming resources for the year

This is stated after charging: Depreciation of owned fixed assets Staff costs and emoluments Total staff costs were as follows: Wages and salaries Social security costs Pension costs Particulars of employees Number of pastoral staff	2021 £ 1,212 2021 £ 40,237 4,409 6,360 51,006 2021 No. 1	2020 £ 591

		2020 £ 41,711 4,329 6,243 52,283

		2020 No. 1

9 Staff costs and emoluments

No employee received remuneration of more than £60,000 during the year (2017 - Nil).

10 Tangible fixed assets

Cost At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020	Plant and machinery etc £ 8,290 3,072 11,362 6,516 1,212 7,728 3,634 1,774

Living Word Community Church Company Limited By Guarantee Notes to the Accounts for the year ended 31 March 2021

11 Debtors

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|||||| |---|---|---|---|---| |Unrestricted|Unrestricted|Total|Total| |Funds|Funds|Funds|Funds| |2021|2021|2021|2020| |£|£|£|£| |Other debtors|663|-|663|663| |12|Creditors: amounts falling due within one year| |Unrestricted|Unrestricted|Total|Total| |Funds|Funds|Funds|Funds| |2021|2021|2021|2020| |Other creditors|23|-|23|23| |23|-|23|23| |13|Restricted Income Funds| |Building|Building| |Maintenance Fund|Fund|Total| |£|£|£| |-|-|-| |Balance Brought Forward| |Incoming Resources|10|95,170|95,180| |-|-|-| |Resources Expended| |10|95,170|95,180|

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Building Fund

Funds to be used to purchase the United Reform Church building in Basildon, Essex.

Building Maintenance Fund

Funds to be used to maintain the United Reform Church building, once the purchase has been completed.

14 Unrestricted income funds

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||||| |---|---|---|---| |Opening|Net incoming|Closing| |balance|resources|balance| |£|£|£| |General funds|249,905|6,191|256,096|

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Living Word Community Church Company Limited By Guarantee Notes to the Accounts for the year ended 31 March 2021

15 Analysis of net assets between funds

Restricted income funds Building funds Building maintenance funds Unrestricted income funds General funds Total Fund	Tangible fixed assets £ - - 3,634 3,634	Net current assets £ 95,170 10 252,462 347,642	2021 £ 95,170 10 256,096 351,276

16 Company limited by guarantee

Living Word Community Church is a company limited by guarantee and accordingly does not have a share capital.

Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

17 Reconciliation of net movement in fund to net cash flows from operating activities

Net movement in funds Add back depreciation charge Deduct interest income in investing activities (Decrease)/Increase in creditors Decrease/(Increase) In debtors	£ - £ 101,371 1,212 (1,626) - - 100,957	£ - £ (8,757) 591 (2,220) (743) 924 (10,205)