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
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**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.
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**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.
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**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
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**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
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## **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
6
## **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
7
## **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|
|---|---|---|
8
**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|
|---|---|---|---|---|
9
## **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|
|---|---|---|---|
10
## **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).
11
**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
12
## **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.
13
## **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
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