REGISTERED COMPANY NUMBER: 07972364 (England and Wales) REGISTERED CHARITY NUMBER: 1151553
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2024
for
100% HOLY SPIRIT LTD (A COMPANY LIMITED BY GUARANTEE)
HM Accountax Ltd Chartered Certified Accountants 86-90 Paul Street Islington London EC2A 4NE
100% HOLY SPIRIT LTD
Contents of the Financial Statements for the Year Ended 31 March 2024
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 12 |
| Detailed Statement of Financial Activities | 13 |
100% HOLY SPIRIT LTD
Reference and Administrative Details for the Year Ended 31 March 2024
TRUSTEES Mr J A Negrete Gonzalez Christian Evangelist Mrs M Palumbo Administrator Ms M I J Lopez Secretary REGISTERED OFFICE 51 Manor Grove London SE15 1EH REGISTERED COMPANY NUMBER 07972364 (England and Wales) REGISTERED CHARITY NUMBER 1151553 INDEPENDENT EXAMINER HM Accountax Ltd Chartered Certified Accountants 86-90 Paul Street Islington London EC2A 4NE
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100% HOLY SPIRIT LTD
Report of the Trustees for the Year Ended 31 March 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
All of the energy, assets and programs of 100% Holy Spirit Ltd are devoted exclusively to religious charitable purposes. Our objectives are:
The advance the Christian religion for the public benefit, in particular but not exclusively by:
(a) Preaching and advancing the teachings of the Christian faith and the religious tenets, doctrines and observances associates with that faith;
(b) Establishing, maintaining and supporting a house of worship with services conducted in accordance with the tenets and doctrines of the Christian faith; and
(c) Supporting and maintaining missions and missionaries in order to propagate the Christian faith.
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100% HOLY SPIRIT LTD
Report of the Trustees for the Year Ended 31 March 2024
OBJECTIVES AND ACTIVITIES
Significant activities
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Establishing, supporting and maintaining a Christian Church in London and UK as a base for ongoing apostolic, prophetic, evangelistic, teaching and pastoral work (as per Ephesians 4) both locally and trans-locally;
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Conducting regular services or meetings for the purpose of worshipping God, prayer, fellowship, instruction in the Christian faith, evangelism and other related activities, both in a large and small group context - locally and trans-locally (As per Acts 2:42ff);
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Training and supporting Christian ministers to function in the roles of conducting evangelistic, teaching, pastoral and ministry work both locally and trans-locally;
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Establishing and maintaining a team of leaders which meet the biblical standards for their offices to care for the ongoing needs of the local church and perform their respective spiritual, governmental and service roles as delineated by New Testament texts;
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Establishing and maintaining relationships with other like-minded Christian Churches, Ephesians 4 ministers and other competent advisors to assist in the growth and maturity of the local church and to co-labour on missionary works which could not be accomplished by one church alone. In all cases 100%HS will maintain control of its own assets and the disbursements to other churches/ministries or organizations by using its own ministers;
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Co-labouring with other Christian charitable organizations and their leaders to achieve the biblical goal of unity of the faith, the discipline of nations and the preparation of the Bride of Christ through prayer, leadership development and joint endeavors and practical service on a local, provincial, national and international level;
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Leasing, purchasing or otherwise providing, renovating, repairing and maintaining buildings and premises or other facilities to achieve its objects;
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Training and equipping Christians for "the work of service." (Ephesians 4:11-16); and providing an opportunities for all believers in the church to use their gifts to glorify God and minister to the church (I Peter 4:10, 11);
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Training, organizing and establishing Christian workers to conduct specialized ministries and programs on a basis consistent with the objects described in section III directed to specific groups of individuals, including without limitation, to children, teenagers, single parents, families, senior citizens and other specialized groups;
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Ongoing training, resourcing, and fielding of musicians, worship leaders, singers, dancers and Christian Arts and drama teams for large and small group meetings for worship and evangelistic purposes both inside and outside of church facilities. (Psl 135:1,2 138:1,2 144:9 145:1-13, 147:1,7, 146:1-6 , 150);
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Fostering the advancement of the Christian message by working with and supporting through prayer, networking, training and encouraging Christians who have been called by God to work in every area of society in keeping with the biblical mandate "pray for those in authority", "encourage one another", "to go into all the world" and to "equip the saints for the work of the ministry.";
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Publicly promoting, advocating a fo the Christian faith and principles and practices consistent therewith by publishing, displaying and communicating in written, oral and visual form using relevant forms of media and distribution (ie websites, blogs, social media, audio, video) - the Christian gospel message, discipleship, worship, evangelistic and other topics expressing biblical teaching and values - any proceeds from which will be devoted to the charitable purposes of the company; and
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To otherwise minister to the spiritual and practical needs of others - especially remembering the needs of the poor, elderly, widowed, imprisoned and orphaned.
Public benefit
The trustees have considered the general guidance on public benefit issued by the Charities Commission and have taken due regard of that guidance. The trustees consider that they are satisfied that the charity's activities do provide a public benefit.
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100% HOLY SPIRIT LTD
Report of the Trustees for the Year Ended 31 March 2024
FINANCIAL REVIEW
Financial position
The results for the year are as shown in the financial statements. The statement of financial activities shows the incoming resources and the resources expended by the different activities conducted under the Charity's name. In order to provide a better understanding of the activities undertaken, a summary and analysis of the activities is included.
The Trustees confirm that the annual report and financial statements of 100% Holy Spirit comply with the current statutory requirements of the Charity's governing document and the provisions of the applicable charities Statement of Recommended Practice (SORP), UK Accounting Standards and the Charities Act 2011.
The Statement of Financial Activities shows how the Charity's funds have been applied during the year.
Reserves policy
The trustees aim to ensure that sufficient funds are maintained to enable the trust to carry out its activities.
FUTURE PLANS
The charity will continue to focus on promoting the advancement of Christian religion
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
100% Holy Spirit is a company limited by guarantee incorporated on 1 March 2012.
The charitable company is governed by a Memorandum and Articles of Association. It was registered as a charity with the Charity Commission on 08/04/2013.
In the event of the charitable company being wound up members are required to contribute an amount not exceeding £1.
Recruitment and appointment of new trustees
The charity is governed by a board of trustees drawn from local community. This is to ensure that the board has skills and experience required to oversee the management of the charity and its operation.
Induction and training of new trustees
All new trustees receive a planned induction programme before taking up their place on the board. This includes an explanation of their roles and responsibilities, an induction to other trustees, an overview of the recent business and an explanation of board format and process.
Key management remuneration
The trustees are considered to be the key management personnel of the charity, in charge of directing and controlling the charity and running its day to day operations.
Trustees are required to disclose all relevant interests and register them with Board of Trustees, and, in accordance with trusts policy, withdraw from decision where a conflict of interest arises.
Details of trustee expenses and related party transactions are disclosed in notes to the accounts.
Related parties
The Charity does not hold assets on behalf of any another Charity, company or individual.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 28 March 2025 and signed on its behalf by:
Mrs M Palumbo - Trustee
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Independent Examiner's Report to the Trustees of 100% Holy Spirit Ltd
Independent examiner's report to the trustees of 100% Holy Spirit Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Muhammad Husnain Haider FCCA, ACA
HM Accountax Ltd Chartered Certified Accountants 86-90 Paul Street Islington London EC2A 4NE
28 March 2025
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100% HOLY SPIRIT LTD
Statement of Financial Activities for the Year Ended 31 March 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 31,755 | 14,468 | |
| Investment income | 2 | 7 | 7 |
| Total | 31,762 | 14,475 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Chartiable acitivities | 32,306 | 33,883 | |
| Other | 1,115 | 2,047 | |
| Total | 33,421 | 35,930 | |
| NET INCOME/(EXPENDITURE) | (1,659) | (21,455) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | (19,384) | 2,071 | |
| TOTAL FUNDS CARRIED FORWARD | (21,043) | (19,384) |
The notes form part of these financial statements
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100% HOLY SPIRIT LTD
Balance Sheet 31 March 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank and in hand | 3,551 | 3,242 | |
| CREDITORS | |||
| Amounts falling due within one year | 8 | (24,594) | (22,626) |
| NET CURRENT ASSETS/(LIABILITIES) | (21,043) | (19,384) | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | (21,043) | (19,384) | |
| NET ASSETS/(LIABILITIES) | (21,043) | (19,384) | |
| FUNDS | 9 | ||
| Unrestricted funds: | |||
| General fund | (21,043) | (19,384) | |
| TOTAL FUNDS | (21,043) | (19,384) |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 28 March 2025 and were signed on its behalf by:
Mrs M Palumbo - Trustee
The notes form part of these financial statements
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100% HOLY SPIRIT LTD
Notes to the Financial Statements for the Year Ended 31 March 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
2. INVESTMENT INCOME
2024 2023 £ £ Deposit account interest 7 7
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100% HOLY SPIRIT LTD
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
4.
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Other operating leases | 15,067 | 16,000 |
| TRUSTEES' REMUNERATION AND BENEFITS | ||
| 2024 | 2023 | |
| £ | £ | |
| Trustees' salaries | 12,600 | 12,000 |
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
6.
| 2024 | 2023 | |
|---|---|---|
| Management | 1 | 1 |
| Volunteers | 11 | 10 |
| 12 | 11 | |
| No employees received emoluments in excess of £60,000. | ||
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | ||
| Unrestricted | ||
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 14,468 | |
| Investment income | 7 | |
| Total | 14,475 | |
| EXPENDITURE ON | ||
| Charitable activities | ||
| Chartiable acitivities | 33,883 | |
| Other | 2,047 | |
| Total | 35,930 | |
| NET INCOME/(EXPENDITURE) | (21,455) | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 2,071 |
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100% HOLY SPIRIT LTD
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |||
|---|---|---|---|---|---|
| Unrestricted | |||||
| fund | |||||
| £ | |||||
| TOTAL FUNDS CARRIED FORWARD | (19,384) | ||||
| 7. | TANGIBLE FIXED ASSETS | ||||
| Computer | |||||
| equipment | |||||
| £ | |||||
| COST | |||||
| At 1 April 2023 and 31 March 2024 | 982 | ||||
| DEPRECIATION | |||||
| At 1 April 2023 and 31 March 2024 | 982 | ||||
| NET BOOK VALUE | |||||
| At 31 March 2024 | - | ||||
| At 31 March 2023 | - | ||||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Trade creditors | - | 1 | |||
| Social security and other taxes | 7 | - | |||
| Other creditors | 24,117 | 22,155 | |||
| Accrued expenses | 470 | 470 | |||
| 24,594 | 22,626 | ||||
| 9. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1/4/23 | in funds | 31/3/24 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | (19,384) | (1,659) | (21,043) | ||
| TOTAL FUNDS | (19,384) | (1,659) | (21,043) | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 31,762 | (33,421) | (1,659) | ||
| TOTAL FUNDS | 31,762 | (33,421) | (1,659) |
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100% HOLY SPIRIT LTD
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1/4/22 | in funds | 31/3/23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 2,071 | (21,455) | (19,384) |
| TOTAL FUNDS | 2,071 | (21,455) | (19,384) |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 14,475 | (35,930) | (21,455) |
| TOTAL FUNDS | 14,475 | (35,930) | (21,455) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1/4/22 | in funds | 31/3/24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 2,071 | (23,114) | (21,043) |
| TOTAL FUNDS | 2,071 | (23,114) | (21,043) |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 46,237 | (69,351) | (23,114) |
| TOTAL FUNDS | 46,237 | (69,351) | (23,114) |
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continued...
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
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