Company registration number: 08465754 Charity registration number: 1152890 Living Waters Europe (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 May 2023
Reference and Administrative Details Trustees. Report Ststsment of Trustees, Responsibilities Independent Examiner's Report Statsment of Financial Activities Balance Sheet Notes to the Financial Statements 8-12
Living Waters Europe Reference and Administrative Details Trustees Mr John Harris Mrs Daniela Harris Mr Peter Harris Mr Christopher Riley Principal Office 27-29 Kirkgate Newark Nottinghamshire NG24 1AD Company Registration Number 08465754 Charity Registration Number 1152890 Independent Examinar Zest Partnership Ltd 18b Balderton Gate Newark Notts NG24 1UE
Living Waters Europe Trustee3' Report The trustees, who are directors for the purposes Cif company law, present the annual report together with the financial statements of tFie charitable company for the year ended 31 May 2023. Objectives and activities Public benefit The trustees confirm that they have complied witli the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Structure, governance and management Objectives and policies The Charity is governed by its Memorandum of A4>sociation. The principal objectives of the trust are the advar)cement of the Christian religion by the mounting of public worship, prayer and evang,:listic meetings and the provision of books, tracts, pamphlets and literature designed tj advan the Christian religion. There are currently four Trustees. Future Trustee> shall be appointed by resolution at a meeting of the Trustees. Achievements and Performance During this financial year, we have sel up and ':aken part in various activities that helped in promoting and fulfilling the objectives i)f the charity. We are doing more talks, conferences, and academies than we haiie ever done in the past. We are approached by more churches from around the world as well as universities from the UK to fulfil the objectives of the charity. We d() monthly teachings via Zoom and provide more free material for people to read and distribute. Financial Review Since we have been making more material available (particularly for the Coronation) throughout the UK and Europe, we have reiVed more donations from the USA ministry. Future Plans We plan to continue producing more material (as before) digitally and electronically to encourage more churches and universities to ke trained and equipped with the information that's necessary to further the objectiiies of the charity. Following on from the material distributed last year themed around the King's Coronation, we will be spreading the same kind of material for the Ol'impics this year for all of the UK and Europe.
Living Waters Europe ststement of Trustees, Responsibilities The trustees (who are also the directors of Living Waters Europe for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordan with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and 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., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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. They are also responsible for safeguarding the assets of the charitable company and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. 16 Approved by the trustees of the charity on b February 2024 and signed on its behalf by: Mr John Harris Trustee
Living Waters Europe Trustees, Repo rt Reserves Policy The charity has relatively small fixed costs, and so Ihe Trustees are content to maintain reserves at the level of around six to twelve mi)nths' expenditure. This allows a sufficient buffer while allowing the charity to maximise the use of its funds for its charitable activities. Small companies provlsion ststement This report has been prepared in accordance with the small companies regime under the Companies Act 2006. The annual report was approved by the trustees of the charity on V February 2024 and signed on its behalf by.. 16* Mr John Harris, TrusteE:
Living Waters Europe Independent Examinerfs Report to the trustees of Llving Waters Europe I report to the charity trustees on my examination of the accounls of the charity for the year ended 31 May 2023 which are set out on pages 6 to 12. Respective responsibilities of trustees and examiner As the charity's trustees of the Company (who are also the directors of the Company for the purposes of company law), you are responsible for the preparation of the accounts in accordan 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 for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination ofyour 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 14515)(b)} of the 2011 Act. I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that.. accounting records were not kept in accordan with section 386 of the Companies Act 2006; or the accounts do not accord with such records., or the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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 the accounts have not been prepared in accordance with the Charities SORP {FRS102} 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. Nicola Curson ACA 18b Balderton Gate Newark Notts NG24 1UE 2U24
Living Waters Europe Statsment of Financial Activities (Incorporating an Income and Expenditure Account) For the Year Ended 31 May 2023 Totsl 2023 Total 2022 Income: Notes Donations 169,682 35,196 Trading Activities 59,500 50,514 Totsl Income 229,182 85,710 Expenditure: Trading Activities 80,223 35,360 Charitable Activities 103,301 52,362 Total Expenditure 183,524 87,722 Net movement in Funds 45,658 (2,012) Reconciliation of funds: Total Funds Brought Foard 34,639 36,651 Total funds carried forward 80,297 34,639
Living Waters Europe Balance Sheet As at 31 May 2023 Company Number 08465754 2023 2022 Notes Tangible Fixed Assets 5,054 3,806 Current Assets Stock Debtors Cash and bank in hand 23,468 6,503 61,741 14,611 8,671 22,795 91,712 46,077 Creditors: Amounts falling due within one year (16,469) {15,244) Net Current Assets 75,243 30,833 Net Assets 80,297 34,639 Funds of the Charity: Unrestricted Funds 80,297 34,639 Total Funds 80,297 34,639 For the year ending 31 May 2023 the Company was entitled to exemption from audit under sectior$ 477 of the Companies Act 2006 relating to small companies. The members have not required the Company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge Iheir responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordan with the provisions applicable to companies subject to the Small Companies, Regime. Approved by the trustees and authorised for issue on W February 2024. Mr John Harris Trustee
Living Waters Europe Notes to the Financial Ststements For the Year Ended 31 May 2023 1. Charity Information The charity is a company limited by guarantee (re(JlStered number 1152890). Each of the trustees is liable to contribute an amount notexceeding £1 towards the assets of the charity in the event of liquidation. The registered Offi is 27-29 Kirkgate Newark, Nijttinghamshire NG24 1AD. 2. Accounting policies Summary of significant accounting policies and kE.'y accounting estimates Basis of Accounting The accounts (financial statements) have been prepared in accordance with the Charities SORP (FRS102) applicable to charities prepar ng their accounts in accordance with FRS102, the Financial Reporting Standard applic.able in the UK and Republic of Ireland and the Companies Act 2006. Assets and liabilities are initially recognised at hi.'itorical cost or transaction value unless otherwise stated in the relevant accounting policy note. Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of tiie income receivable can be measured reliably. Donations and legacias Donations are recognised when received. In the event that a donation is subject to conditions that require a level of performance by tie charity before the charity is entitled to the funds, the income is deferred and not recogni>ed until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity, and it is probable that these conditions will be fulfilled in tkie reporting period. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is requir£Jd, and the amount can be measured reliably. All costs are allocated to the applicatile expenditure heading that aggregate similar costs to that category. Where costs C8nnot be directly attributed to particular headings, they have been allocated on a basis Ccinsistent with the use of resources.
Living Waters Europe Notes to the Financial Statements For the Year Ended 31 May 2023 Stocks Stocks are stated at the lower of cost and estimated selling price. less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Cost is calculated using the first- in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. Tangible fixed assets Tangible fixed assets are stated at cost less accumulated depredation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the Cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows.. Furniture and Equipment 33 % reducing balan. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010, and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 3. Income from Trading Activities 2023 2022 Books, downloads and publications 59,500 49,610 Courses and seminars 904 Totsl 59,500 50,514
Living Watsrs Europe Notes to the Financial Statsments For the Year Ended 31 May 2023 4. Analysis of Expenditure Trading Activities 2023 2022 Purchases Carriage Course and seminar costs 52,328 27,895 27,734 7,626 Total 80,223 35,360 Charitable Activities 2023 2023 Salaries Pension Costs Event Costs Rent Insurance Telephone and Internet Stationery Advertising Accountancy Bank Charges Donations Motor and Travel costs Depreciation Sundry 39,987 924 17,439 3,816 1,155 3,351 783 2,343 1,510 1,944 5.499 16,109 2,437 6,004 32,941 863 1,816 847 1,499 836 1,440 1,681 1,200 5,878 1,902 1,459 103,301 52,362 io
Living Waters Europ9 Notes to the Financial Statements For the Yèar Ended 31 May 2023 5. Tangible Fixed Assots Furniture and Equlpment Cost As at 1 June 2022 20,148 Additions 3,685 As at 31 May 2023 23,833 Depreciation As at 1 June 2022 16,342 Charge for the year 2,437 As at 31 May 2023 18,779 Net Book Value 31 May 2023 5,054 31 May 2022 3,806 6. Debtors Due within one year 2023 2022 Other Debtors 6,503 8,671 Total 6,503 8,671 li
Living Waters Europe Notes to the Financial Ststements For the Year Ended 31 May 2023 7. Creditors: Amounts Falling Due Withln One Year 2023 2022 Trade Creditors Expenses due to Trustees other Creditors 9,882 5,401 1,186 13,102 1,591 551 Total 16,469 15,244 8. Related Party Transactions All of the charity's employees during the perioc were family members of a trustee. The average number of employees was 2. 12