2023-03-31-accounts - Living Word Community Church

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Registered number 07338966

Living Word Community Church

Company Limited By Guarantee

Report and Financial Statements

31 March 2023

Charity No. 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	6
Statement of financial position	7
Cash flow statement	8
Notes to the financial statements	9

Living Word Community Church Company Limited By Guarantee Company Information

Directors

D J Donoghue S Mulaka S G Farrow T Doro

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 Registered number: 07338966 Trusteess' Report

The Trustees, who are also directors for the purposes of company law, have pleasure in presenting

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:

D J Donoghue S Mulaka S G Farrow T Doro

Accountants

Trueman Brown Chartered Accountants 7 Foxglove Road South Ockendon Essex. RM15 6EU

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.

Living Word Community Church Company Limited By Guarantee Registered number: 07338966 Trusteess' Report

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.

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.

Living Word Community Church Company Limited By Guarantee Registered number: 07338966 Trusteess' Report

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.

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 increase in fund of £177,927 (2022: Increase of £177,927).

The company will rely on the generosity of the congregation attending our weekly church meetings and Sunday Services provided at the United Reform Church, Honey Pot Lane, Basildon.

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

Living Word Community Church Company Limited By Guarantee Registered number: 07338966 Trusteess' Report

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.

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 30 December 2023 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 2023

	Notes	2023	2023	2023	2022
		Unrestricted	Restricted	Total	Total
		Funds	Funds	Funds	Funds
		£	£	£	£
Income resources from generating funds:
Voluntary income	2	121,590	83,262	204,852	267,217
Investment income	3	922	-	922	489
Other incoming resources	4	5,009	-	5,009	60
Total Incoming Resources		127,521	83,262	210,783	267,766
Charitable activities	5	(82,045)	-	(82,045)	(77,162)
Governance costs	7	(18,841)	-	(18,841)	(12,677)
Net incoming resources for the year	8	26,635	83,262	109,897	177,927
Total funds brought forward		319,537	209,666	529,203	351,276
Transfers between funds		(291,658)	291,658	-	-
Total funds carried forward		54,514	584,586	639,100	529,203

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 Statement of Financial Position as at 31 March 2023

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 Assets Funds Unrestricted income funds 14 Restricted income funds 13 TOTAL FUNDS	2023 2023 2023 2022 Unrestricted Restricted Total Total £ £ £ £ 1,436 - 1,436 2,760 663 - 663 663 53,369 584,586 637,955 525,802 55,468 584,586 640,054 529,225 (954) - (954) (22) 54,514 584,586 639,100 529,203 54,514 - 54,514 319,537 - 584,586 584,586 209,666 54,514 584,586 639,100 529,203

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 30 December 2023

Living Word Community Church Statement of Cash Flows for the year ended 31 March 2023

Notes Cash used in operating activities 16 Cash flows from investing activities Interest income Purchase of tangible fixed assets Net increase in cash Cash and cash equivalents at 1 April Cash and cash equivalents at 31 March	2023 £ 111,231 922 - 922 112,153 525,802 637,955	2022 £ 178,762 489 (451) 38 178,800 347,002 525,802

Living Word Community Church Notes to the Accounts for the year ended 31 March 2023

1 Summary of significant 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

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Equipment

25% on the written down value

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Pensions

Contributions to defined contribution plans are expensed in the period to which they relate.

2 Voluntary income Tithes Gift aid tax recovered Gift, donations and offerings	2023 Unrestricted Funds £ 85,602 15,771 20,217 121,590	2023 Restricted Funds £ - 32,560 50,702 83,262	2023 Total Funds £ 85,602 48,331 70,919 204,852	2022 Total Fund £ 46,718 26,963 193,536 267,217

Living Word Community Church Notes to the Accounts for the year ended 31 March 2023

3 Investment income 2023 Unrestricted Funds £ Bank interest receivable 922 922 4 Other incoming resources 2023 Unrestricted Funds £ Other income 5,009 5,009 5 Cost of charitable activities by fund type 2023 Unrestricted Funds £ Programme activity costs 65,185 Support of outside causes 16,860 82,045	2023 Restricted Funds £ - - 2023 Restricted Funds £ - - 2023 Restricted Funds £ - - -	2023 Total Funds £ 922 922 2023 Total Funds £ 5,009 5,009 2023 Total Funds £ 65,185 16,860 82,045	2022 Total Fund £ 489 489 2022 Total Fund £ 60 60 2022 Total Fund £ 59,802 17,360 77,162

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 Overseas Mission Mongolian Mission Lifelink The recipients of donations included:	Activities Directly Undertaken 2023 £ 65,185 16,860 82,045	Total Funds 2023 £ 65,185 16,860 82,045 2023 £ - - -	Total Funds 2022 £ 59,802 17,360 77,162 2022 £ 3,600 815 300

Living Word Community Church Notes to the Accounts for the year ended 31 March 2023

7 Governance costs 2023 Unrestricted Funds £ Insurance 471 Cleaning - Hire of premises 4,309 Legal & other professional fees 5,040 Telephone and internet 994 Depreciation 1,324 Printing, postage, stationary and advertising 1,451 Information and publications 92 Repairs and maintenance 483 Accountancy fees - Sundry expenses 4,677 18,841 8 Net incoming resources for the year This is stated after charging: Depreciation of owned fixed assets 9 Staff costs Wages and salaries Social security costs Other pension costs Average number of employees during the year Pastoral staff	2023 Restricted Funds £ -	2023 Total Funds £ 471 - 4,309 5,040 994 1,324 1,451 92 483 - 4,677 18,841 2023 £ 1,324 2023 £ 44,716 4,837 6,960 56,513 Number 1 1	2022 Total Fund £ 473 180 3,425 1,056 727 1,324 2,376 - 305 475 2,336 12,677 2022 £ 1,324 2022 £ 37,034 4,851 6,960 48,845 Number 1 1

No employee received remuneration of more than £60,000 during the year (2022 - Nil).

Living Word Community Church Notes to the Accounts for the year ended 31 March 2023

10 Tangible fixed assets

Cost or valuation At 1 April 2022 At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Carrying amount At 31 March 2023 At 31 March 2022 11 Debtors 2023 Unrestricted Funds £ Other debtors 663 12 Creditors: amounts falling due within one year 2023 Unrestricted Funds £ Other creditors 954 13 Restricted income funds Balance Brought Forward Transfers Incoming Resources	2022 Restricted Funds £ - 2023 Restricted Funds £ Building Maintenance Fund £ 688 15,947 200 16,835	2023 Total Funds £ 663 2023 Total Funds £ 954 Building Fund £ 208,978 275,711 83,062 567,751	Fixtures, fittings, tools and equipment At cost £ 11,812 11,812 9,052 1,324 10,376 1,436 2,760 2022 Total Fund £ 663 2022 Total Fund £ 22 Total £ 209,666 291,658 83,262 584,586

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

Living Word Community Church Notes to the Accounts for the year ended 31 March 2023

14	Unrestricted income funds			2023
				£
	Balance Brought Forward			319,537
	Transfers			(291,658)
	Net incoming resources			26,635
				54,514
15	Analysis of net assets between funds
	Restricted income funds	Tangible Fixed Assets £	Net Current Assets £	Total £
	Building Fund	-	567,751	567,751
	Building Maintenance Fund	-	16,835	16,835
	Unrestricted income funds
	General Fund	1,436	53,078	54,514
		1,436	637,664	639,100
16	Reconciliation of net movement in fund to net cash flows from o		2023	2022
	Net movement in funds		£ 109,897	£ 177,927
	Add back: Depreciation charge		1,324	1,324
	Increase in creditors		932	-
	Deduct: Interest income in investing activities		(922)	(489)
			111,231	178,762

17 Legal form of entity and country of incorporation

Living Word Community Church is a private company limited by guarantee and incorporated in England.

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.

Living Word Community Church Notes to the Accounts for the year ended 31 March 2023

18 Principal place of business

The address of the company's principal place of business and registered office is:

7 Foxglove Road South Ockendon Essex RM15 6EU