2024-12-31-accounts - Word Of Hope Bible Church

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Charity Number: 1144750

WORD OF HOPE BIBLE CHURCH

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

CONTENTS 31ST DECEMBER 2024

WORD OF HOPE BIBLE CHURCH

	CONTENTS
		Page
Charity's General Information		1
Trustees Report		2
Independent Examiner's Report		3
Balance Sheet		4
Notes to the Financial Statements		5-6
Statement of Financial Activities		7

WORD OF HOPE BIBLE CHURCH

CHARITY'S GENERAL INFORMATION

31ST DECEMBER 2024

Charity's General Information

BOARD OF TRUSTEES: Pastor in Charge Apostle Godspower Obamwonyi Rev (Mrs) Yejide Obamwonyi Ms Patience Enabulele Mrs Queen E Osahenomase Mugenzi Ms Uyiosa Catherine Enabulele

PRINCIPAL AND WORSHIP OFFICE: The Venture Centre 491, Mill Street Manchester M11 2AD

CHARITY REGISTERATION NUMBER: 1144750

BANKERS: Royal Bank of Scotland St. Ann Street Manchester M60 2SS

ACCOUNTANTS: Richflo Accounting Services 4 Deeroak Close Manchester M18 8AF

Page 1

WORD OF HOPE BIBLE CHURCH

TRUSTEES' REPORT FOR THE YEAR ENDED

31ST DECEMBER 2024

The Trustees of Word of Hope Bible Church ( the charity) present their report and Financial Statement for the year ended 31st December 2024 which has been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting (SORP) by Charities as revised in 2005

Structure , Governance , Constitution and Management:

The main objective of the charity is to advance and demonstrate the christian faith through practical means possible to members and people in the community. Word of Hope Bible Church is a Pentecostal Church for all nations. We believe in miracles and long to see God move in the life of people, saving all, healing all and giving all a testimony.

ii METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES:

Management of the charity is the responsibility of the Trustees who are elected on basis of contribution they will make to the governance of the charity under the terms of the Trust Deed.

FINANCIAL PERFORMANCE AND REVIEW OF FUTURE ACTIVITIES:

During the year total income of £162,403	and Expended Resources of	£144,564	was realised and	was realised and
expended. These amounts are significantly higher compared to earlier year		£111,230	&	£144,762
There exist a surplus of £17,839 this year compared to the previous year deficit		of		£33,532
		2024		2023
INCOME & EXPENDITURE		£		£
TOTAL INCOMING RESOURCES:		162,403		111,230
GROSS INCOMING RESOURCES	7	162,403		111,230
TOTAL RESOURCES EXPENDED:	7	(144,564)		(144,762)
OPERATING SURPLUS/(DEFICIT)		17,839		(33,532)

STATEMENT OF TRUSTEES RESPONSIBILITY:

The charity's Trustees are responsible for the preparation of financial statements in compliance with requirements as to its form and contents under section 132(1) of the Charities Act 2011 and that an independent examination is needed. In preparing these financial statements, Trustees are required to:

select suitable accounting policies and then apply them consistently
prepare the financial statements on the going concern basis unless it is inappropriate to
the financial statements are prepared as required by law to give a true and fair view of the state of affairs of the charity surplus or deficit for that period, and safeguard the assets of the charity.

INDEPENDENT EXAMINERS:

The Trustees appointed Richflo Accountants as its independent examiners.

This report was approved by the Trustees on 7th May 2025, and signed on their behalf by trustee:

Name of Trustee: Apostle Godspower OBAMWONYI

Signature: . . . . . . . . . . . . .

Page 2

WORD OF HOPE BIBLE CHURCH INDEPENDENT EXAMINER'S REPORT

31ST DECEMBER 2024

I have examined the financial statements, which comprises the financial activities, the Balance Sheet and the related Notes on pages 4 to 7 and the accounting policies of the Word of Hope Bible Church for the year ended 31st December 2024.

This report is made solely to the Charity,s Trustees are responsible for the preparation of the accounts. The Trustees consider audit is not required for this year under section 160(1) of the Charities Act 2011 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 financial statements and to issue a report based on that examination.

Scope Of examiner's Statement:

I conducted my examination in line with directions given by the Charity Commission under section 145(5) of the Charities Act 2011. 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:

We, as independent examiner have the requisite ability and practical experience to carry out a competent examination of the accounts in accordance with section 145(1)(a) of the Charities Act 2011.

In connection with our examination, no matter has come to my attention:

i . Which gives me reasonable cause to believe in any material respect the requirements:
to keep accounting records in accordance with section 130(1) of the Charities Act 2011, and
to prepare financial statements which comply with the accounting requirements of section 132(1) of the Charities Act 2011, have not been met; or
ii . To which in our opinion, attention should be drawn in order to enable a proper understanding of the financial statements to have been prepared

Mr Richard Ogunyemi, ACA, MBA

Richflo Accounting Services

4 Deeroak Close

Manchester M18 8AF

Date: 7th May 2025.

Page 3

WORD OF HOPE BIBLE CHURCH

BALANCE SHEET 31ST DECEMBER 2024

NOTES FIXED ASSETS Tangible Assets 3 CURRENT ASSETS Debtors 97,628 Cash at Bank 35,839 133,467 CREDITORS: Short-term 4 (500) NET CURRENT ASSETS/(LIABILITIES) CREDITORS: Long-term 5 TOTAL NET CURRENT ASSETS/(LIABILITIES) RESERVES General Funds 6	97,628 35,839	2024 £ 10,778 132,967 (9,707) 134,038 134,038 134,038	110,261 11,618 121,879 (500)	2023 £ 10,917 121,379 (16,096)
	133,467 (500)
				116,200
				116,200
				116,200

The trustees are satisfied that the charity is entitled to exemption from audit under section 160(1) of the Charities Act 2011 for the accounting period ended 31st December 2024.

The trustees acknowledge their responsibilities for:

(i) ensuring that the charitable company keeps accounting records which comply with sections 130 of the Charities Act 2011; and
(ii) preparing financial statements which give a true and fair view of the state of affairs of the charitable as at the end of the period in accordance with section 132(1) of the Charities Act 2011.

Approved by the Trustees on 7th May 2025, and signed on their behalf by the trustees:

Name of Trustee: Apostle Godspower OBAMWONYI

Signature: . . . . . . . . . . . . . . . . .

Page 4

WORD OF HOPE BIBLE CHURCH NOTES TO THE ACCOUNTS 31ST DECEMBER 2024

1. ACCOUNTING POLICIES

The financial statements have been prepared in accordance with applicable Financial Accounting Standards in United Kingdom with the application of FRSSE and the Statement of Recommended Practice Accounting and Reporting by Charities (SORP 2000 & 2005) as issued by the Charity Commission.

A summary of the principal accounting policies, which have been applied consistently is set out below:

(a) Basis of Preparation of Financial Stetements;

The financial statements are prepared under the historic cost convention and include the result of charity's operation, which are described in the Trustee's Report, all of which are continuing.

(b) Incoming Resources:

All incomes is credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable.

(c) Restricted Funds:

Restricted funds are to be used for specific purposes within the objects of the charity. Expenditures which meet these specific criteria, will be matched 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 for general and public funds.

(e) Resources Expended:

Direct Charitable expenditure includes all expenditure incurred in direct pursuit of its charitable objectives. Governance expenditure includes all costs incurred which relates to the charitable and for administaration of the charity in compliance with constitutional and statutory requirements.

Tangible Fixed Assets and Depreciation:

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates in order to write off the cost of each assets, less their estimated residual value over its estimated useful life as follows:

Office Equipment 25% at reducing balance

2. EMPLOYEES:	2024	2023
Average number of employees during the period	4	4

Page 5

31ST DECEMBER 2024

WORD OF HOPE BIBLE CHURCH

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED

3. TANGIBLE FIXED ASSETS: COST / VALUATION: Church Office Building Equipments Opening Balance 10,500 4,102 Additions in the year 0 0 Closing Balance 10,500 4,102 Depreciation Opening Balance 0 3,546 Charge for the period 0 139 Closing Balance 0 3,685 Net Book Value Opening Balance 10,500 417 Closing Balance 10,500 417 4 CREDITORS: Amount Due Within 1 Year Professional fees 5 CREDITORS: Amount Due After 1 Year Credit Facilities & Loan 6 RESERVES: Movements in Charity funds: Opening Balance for the Year Surplus/(Deficit) for the Year 7 Closing Balance	2024 TOTAL £ 14,602 0 14,602 3,685 139 3,824 10,917 10,778 500 500 9,707 116,200 17,839 134,038	2023 TOTAL £
		14,602 0
		14,602
		3,546 139
		3,685
		556
		10,917
		500
		500
		16,096 142,914 (26,714)
		116,200

Page 6

WORD OF HOPE BIBLE CHURCH STATEMENT OF FINANCIAL ACTIVITIES

31ST DECEMBER 2024

7. STATEMENT OF FUNDS Notes Incoming Resources 8 Total Expenditure 9 & 10 NET SURPLUS/(DEFICIT) FOR THE PERIOD 8. INCOMING RESOURCES: Tithe Offering Thanksgivings Seed Faith Gift Aids Interest TOTAL INCOMING RESOURCES: 9. EXPENDITURE - CHARITABLE ACTIVITIES FRAC MISSION USA BURIAL WELFARE GIFT AID BOOK LUNCH DONATION MISSIONARY WELFARE FEEDING WELFARE LOAN BUILDING LOAN GIFT AID SUPPORT WOHBC DELEWARE CHURCH HALL WOHBC LIBERIA CHURCH WOHBC ONTARIO CANADA TOTAL 10. RESOURCES EXPENDED: Salaries & Pension PAYE Tax & NICs Rent Insurance Premium Telephone Charges Subscription Utility Bills Sundry Expenses Depreciation of Tangible Assets Accountancy & Payroll Fees TOTAL	Restricted Unrestricted Funds Funds £ 0 34,860 0 6,455 0 96,016 0 0 0 25,038 0 33 0 162,403 0 46,799 0 0 0 300 0 4,325 0 0 0 1,800 0 0 0 224 0 26,814 0 4,780 0 0 0 85,042 0 41,581 0 3,556 0 12,000 0 764 0 360 0 120 0 202 0 0 0 139 0 800 0 59,522	2024 £ 162,403 (144,564) 17,839 TOTAL Funds £ 34,860 6,455 96,016 0 25,038 33 162,403 46,799 0 300 4,325 0 1,800 0 224 26,814 4,780 0 85,042 41,581 3,556 12,000 764 360 120 202 0 139 800 59,522	2023 £ 111,230 (144,762)
			(26,714)
			TOTAL Funds £ 48,367 13,163 40,665 9,000 0 35
			111,230
			59,539 1,500 0 0 560 0 1,000 77 6,818 6,818 1,516
			77,828
			49,944 2,046 12,000 386 885 0 140 594 139 800
			66,934

Page 7