Charity Number: 1144750 WORD OF HOPE BIBLE CHURCH TRUSTEES, REPORT AND FINANCIAL sTATEMETs FOR THE YEAR ENDED 31ST DECEMBER 2020
WORD OF HOPE BIBLE CHURCH TRUSTEES, REPORT AND FINANCIAL STATEMENTS 31 ST DECEMBER 2020 CONfENrs Page Charity's General Inforn]ation Trustees Report Incomes and Expenditure Accounts Statement of Financial Activities Balance Sheet Notes to the Financial Statements Independent Examinerfs Report
WORD OF HOPE BIBLE CHURCH TRUSTEES, REPORT AND FtNANCIAL STATEMENTS 31 ST DECEMBER 2020 Charity'8 General Information TRUSTEES & PASTOR IN CHARGE Apostle Godspower Obamwonyi P10[ in Chage Rev {Mrs) Y¢jide Obamwonyi Trustee Ms Patience Enabulele Tnte¢ Mrs Queen E Osahenomase Mugenzi Ttee Ms Uyiosa Catherine Enabulele Tntee Mrs Oluwabukola Hadizat Kila Trustee PRINCIPAL AND WORSHIP OFFICE: The Venture Centre 491, Mill Street Manchester Ml12AD CHARITY REGISTERATION NUMBER: 1144750 BANKERS: Royal Bank of Scotland St. Ann Street ManchesteT M60 2SS ACCOUNTANTS: Richflo Accounting Servlcgs 4 Deeroak Close Manchester M18 8AF Page I
WORD OF HOPE BIBLE CIIURCH TRUSIEES, REPORT FOR THE YEAR ENDED 31 ST DECEMBER 2020 The Trustees of Word of Hop¢ Bible Church( the clwity) pres¢nt their rqM>n alld Fitian¢ial Statement for the year ended 3 1st December 2020 thicb h&5 been prepared in accordance with the Statement of RecornnKnded Prnctice (SORP)"Accounting and Reporting by Charities" ISSU in October 21KK) and Revised in 2(K)5 Structure, Governance. Constitution and Mnyement: The n1 objective of the charity is to advanc¢ and dmDstrate the Christian &ith through practical means possible to members and people in the commwiity. The "Word of Hope Bibl¢ Churcb" is a PeDte¢ostsl Church for all nations. We b¢lieve in mirdcles and long to see G(Ml move in the life of people. saving all, heIng all and giving all a testimony 11 METHOD OF APPOINT.MENT ORELECTION OF TRUSTEL*. The nlagement of the cbarity is the responsibility of th¢ Tntst¢es who are elected on the basis of contribution they will make to the gY)vernance of the chaTitv under the tern of the Tnt Deed. During the year total Incomes of £71584 and Expilre Resources of £69.149 wa5 realised and expend¢(L This incon)e and expenditure were lower compared to previous year of £123J13 and £119,631 Howev. the wa5 surp1$ of this year compared to the previous year Slus of £J,683 sTATEmEr OF TRuEEs RESPONSIBILITY: The charlty's Trustces are responsible for th¢ preparation of financial ststements, and th¢y consider audit is not required for this year under Wtion 43(2) of the Charities Act 1993 (the Act) and that an independent examination is neede& In preparing these financial ststements, the Trustees are required to: select suitable accounting policies and then apply them consistently make judgements and estimates that are reasonable and prudent prepare the funCIal stslem¢nts on the going concern basis unle&8 it is inappropriate to presume that the church will continue in operdtionat service. the financial statements are pr¢pared as required by law to give a true and fair view of the state of affairs of the church surplus or deficit for that peri and safeguard the assets of the church. £2N35 IIYDEPENDENT EXAMINERS: The Trustees appointed FelÈx & Co Chartered Certified Accountants as its independent examiners. A resolution for re-appoiDlrnent will proposed during the next meeting. This r¢port was approved by the Tnte¢S on 5th October 2021 and signed on th¢ir behalf by trustee: Name of Trustee". Aposde Codspower Obamwonyi Page 2
WORD OF HOPE BIBLE CHURCH tNCOME AND EXPENDITURE Accou[ and CASH FLOW STATEMENTS 31 ST DECEMBER 2020 NOTES 2020 2019 INCOME AI¥D EXPENDITURE ACCOUNTS TOTAL INCOMING RESOURCES: 63,109 123,313 HMRC GRANT 8,475 GROSS INCOMING RESOURCES 71,584 123,313 LESS: Administrative Expenses: TOTAL RESOURCES EXPENDED= (69,149) (119,631) OPERATING SURPLUS / (DEFICID 2,435 3,683 CASH FLOW STATEMENTS OF CHARITY FUNDS . 2020 2019 NOTES Opening Bank Balance Cash Receipts in the year 12,821 9,138 71,584 123,313 84,405 132,451 Cash Payments/Expenses in the year 3&7 (69,149) (119,631) Bank / Cash Closing Balance 15256 12,821 Page 3
WORD OF HOPE BIBLE CHURCH STATEMENT OF FINANCIAL ACTIVITIES 31ST DECEMBER 2020 Unrestricted Funds 2020 TOTAL Funds 2020 TOTAL Funds 2019 NOTES tNCOMtNG RESOURCES: Tithe 49.800 49.800 55,630 Offering Thanksgivings Seed Faith 1,871 1,871 5,385 251 251 4,824 516 516 7,216 Harvest Festivals Poor & Homeless 351 351 5,961 Leeds Income 2,819 Miscellenous Income 1,191 Gift Aids 10,316 10,316 36.839 HMRC Grants 8.475 8.475 Interest First Fruit Harvest 3,447 TOTAL INCOMING RESOURCES: 71084 71,584 123J13 RESOURCES EXPENDED: Salaries 12.559 12,559 32.236 Guest Speakers Taxes & NI Payments Travel & Entertainment 10,052 10,052 29,124 988 988 1.338 Rent 15.848 15.848 26,544 Insurance 316 316 Telephone Charges Donations 379 379 445 26,136 26,136 26,136 Repair and Maintenance Sundry Expenses Depreciation of Assets Accountancy & Pa011 Fees TOTAL RESOURCES EXPENDED: 565 565 900 1,806 1.806 2,408 500 500 500 (69.149) (69,149) (119,631) NET SURPLUS I (DEFICIT) IN RESOURCES 2.435 2,435 3,683 Page 4
WORD OF HOPE BIBLE CIIURCH BALANCE SHEET FOR THE YEAR ENDED 31ST DECEMBER 2020 NOTES 2020 2019 FIXED A&SETS T8ngible A&sets 5.417 7223 CURRENT ASSETS Ikbtors 14,225 Cash at Bank 13293 8.629 27518 32.935 15.852 CREDITOILg Amount due within l year AD]OUt)t due More than l y¢ar (5(K>) (12,169) 30,(XKI) 2.435 Generdl fiuKLs 2,435 3,683 Th¢8e statements of fiDancial activity w&8 approved by the Trustees on 5th October 2021 lld signed on their behalf by the trustee: Name of Trustee: Ap05tle Godspower Ob*mwonyl Signature."
WORD OF HOPE BIBLE CHURCH NOTES TO THE ACcOUs FOR THE YEAR ENDED FOR THE YEAR ENDED 31 ST DECEBER 2020 I. ACCOUNTING POLICIES The financial statements have been prepared in accordance with applicable Accounting Standards in United Kingdom with the application of FRSSE and the Statement of Recommended Practice "Accounting and Reporting by Charities" ("SORP 2000 and SORP 2005") issued by the Charity Commission. Asummary of the principal accounting policies, wl)ich have been applied consistently is set out lOw. (a) Ba$18 of Preparation of Financial StetemeDts. The financial statements are prepar¢d under the historic cost convention and include the resuli of charity's Operatio which are described in the TThtee.S Report, all of which are continuing. (b) Incoming Resources: All incomes is credited to the Statement of Financial Activities on the earli¢r date of when they are received or when they are receivable. (c) Restricted Funds: Restricted funds are to be used for specific purwses within the objects of the charity. Expend- itures which me¢t these specific criteri4 will be malched with a fair allocation of management and support costs. (d) Unrestricted Funds: Unrestricted funds are donations, offerings and other incomes generated for the objects of the charity without further specific purposes and are available foi general and public fid5. (e) Resources Expended: Direct Charitable expenditure includes all expenditure incurred by th¢ charity in direct pursuit of its charitable objectives. Governance expenditure includes all costs incurred which relates to the charitable and for adminlstsration of the charity in compliance with constitutional and staEuiory requirements. Tangible Fixed A$$ets and Depreciation: Tangyible fixed assets are stated at cost less depreciation. Depreciation is provided at rates in order to TIt¢ off th¢ cost of each &ssets, less their estimaled residuaI value over its estimated useful life as follows: No asset during the periods Church Equipment 250/0 at reducing balance 2. OPERATING LOSS: The Operattng Loss is stst¢d after Charging: 2020 2019 Depreciation of own assets". 1.806 2,408 Page 6
WORD OF HOPE BIBLE CHURCH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED FOR THE YEAR ENDED 31 ST DECEBER 2020 TANGIBLE FIXED ASSETS: COST I VALUATION: 2020 TOTAL 2019 TOTAL Church Buildin Church Equi 4,102 ments Opening Balance Additions in the year Disposals 10.500 14,602 14,602 Closing Balance 10.500 4,102 14,602 14,602 Depreciation Opening Balance Charge for th¢ period 4,594 2.785 329 7,379 4,971 2,408 1,477 1,806 Closing Balance 6.071 3,114 9.185 7J79 Net Book Value Opening Balance Closing Balance 5,906 1.317 7,223 9,632 4,430 988 5,417 7223 3. DEBTORS: Other Debtors 14225 14,225 4 CREDITORS: Amount falling Due le88 Th2n l Year Other Accrued charges Accrued Professional fees 11,669 500 500 12,169 500 CREDITORS: Amount falling Due More Than l Year Loan 30,000 S RESERVES: Movements in Charity funds: Receipts in the Year 2020 2019 71,584 71,584 (69,149) 2,435 123.313 123J13 Payments in the Year Closing Balance (119:631} 3,683 Page 7
WORD OF HOPE BIBLE CHURCH INDEPENDENT EXAMtNER'S REPORT FOR THE YEAR ENDED 31 ST DECEBER 2020 I have examined the financial statements, which comprises the financial activities, the Receipt & Payments and the related Notes on pages 2 to 4 and the accounting policies of the the Word of Hopc Bible Church for the period ended 31 st December 2020 This report is made solely to the Charity,s Trustees (who are the directors of the company for the purposes of company law) and are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed. Respective responsibilities of Trustees and Independent Examiner: As described on page 4, the Trustees are responsible for the preparation of financial statements. It is my responsibility to carry out an independent examination of those financÉal statements and to issue a report based on that examination. Scope or examiner's Statement: I conducted my examination in line with directions given by the Charity Commission under section 43(7)(b) of the Charities Act 1993. An examination includes a review of accounting records kept by the charity and comparison of the financial statements with those records as well as explanations from the trustees concerning the records. The procedures undertaken do not provide all the evidence that would be required in an audit. Consequently no audit opinion is given and the report is limited to the statements below: Independent examiners statement: In connection with our examination, no matter h&s come to my attention: i. which gives me reasonable cause to believe in any material respect the requirements: to ke¢p accounting records in accordance with section 41 of the Companies Act 2006, and to prepare financial statements which accord with the accounting records and Comply with the accounting requirements of section 386 of the Companies Act 2006 and with the methods and principles of the SORP: Accounting and Reporting by Charities have not been met. or li. to which in our opinion, attention should b¢ drawn in order to enabl¢ a proper understanding of the financial statements to be reached. Signed: Richflo Accounting Services 4 Deeroak Close Manchesfrr M18 8AF .and dated 5th October 2021 Page 8