LABOUR OF LOVE WORLD MINISTRIES FLAT 5 168 WOODSIDE GREEN LONDONSE25 SEW 

CHARITY NUMBER 1155909 

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31°' MARCH 2024 

ACCOUNTANTSR US LIMITED 2” FLOOR, BEAUMOUNT HOUSE 1B LAMBTON ROAD 

LONDON SW20 0LW 



## LABOUR OF LOVE WORLD MINISTRIES 

## TRUSTEES: 

Mr Joseph Amey Gavor Miss Joycelyn Adjoa Pramang Miss Adzoa Kwokem 

## SECRETARY: Miss Joycelyn Adjoa Pramang 

- CHARITY NUMBER: 1155909 

BANKERS: BARCLAYS BANK PLC 1 CHURCHILL PLACE LONDON E14 5HP 

ACCOUNTANTS: ACCOUNTANTS R US LIMITED 2nd Floor, Beaumont House 1b Lambton Road London SW20 OLW 

- CONTENT: 1. Trustees’ Report 

   2. Accountant's Report 

   3. Statement of Financial Activities 

   4. Balance Sheet 

5. Notes to the Accounts 



## LABOUR OF LOVE WORLD MINISTRIES TRUSTEES REPORT 

The Trustees have pleasure in submitting their report, and accounts for the year ended 31st March 2024. The financial statements have been prepared in accordance with the accounting policies set out on page S and comply with the Statement of Recommended Practice and applicable law. 

Constitution, objective of the charity, principal activities and organisation of our work The charity is constituted under a trust deed dated 3rd February 2014. The objectives of the charity as set out in the Declaration of Trust are: 

(a) The advancement of the Christian faith and (b) The relief of persons who are in conditions of hardship or distress or who are aged or sick. (C) Such charitable purposes for the public benefit as are exclusively charitable according to the laws of England and Wales as the trustees may from time to time determine. 

Public benefits, development activities and achievements in the year When planning our activities in the year, the trustees considered the Charities Commission’s guidance on public benefit, and in particular the specific guidance on charities for the advancement of religion. We helped ordinary people in the community to live out their faith through worship and prayer; learning about the Gospel; and developing their knowledge and trust in Jesus Christ. Our annual Fun Day out for the youth in the community and Financial Summit were very successful. Our Prophetic Power & Glory Night, The Fire Tunnel , The Complete Woman Conference and Resurrection Sunday Worship Night were also successful. We also organised food bank for needy and embarked on General Evangelism to reach out to our community. 

## Review of the financial position 

The net incoming resources for the year amounted to a deficit of £42,546 all of which was attributable to general reserves. 

## Board of Trustees 

The members of the board of trustees during the year were: Mr Joseph Amey Gavor 

Miss Joycelyn Adjoa Pramang Miss Adzoa Kwokem 

## Approval 

This report was approved by the board of trustees and signed on its behalf by: 

Mr Joseph Amey Gavorla 

Dated 

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## INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF LABOUR OF LOVE WORLD MINISTRIES 

| report on the Financial Statements of the charity for the year ended 31st March 2024. which are set out below. 

## RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER 

The charity’s trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 (The 2011 Act) and that an independent examination is needed. 

It is my responsibility to: 

* examine the accounts under section 145 of the 2011 Act, 

* follow the procedures laid down in the general Directions given by the Charity Commission [ under section 145(5) (b)] of the 2011 Act, and 

* state whether matters have come to my attention. 

## BASIS OF INDEPENDENT EXAMINER’S STATEMENT 

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Trust and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. 

The procedures undertaken do not provide all the evidence that would be required in an audit and consequently, no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below. 

## INDEPENDENT EXAMINER’S STATEMENT 

In connection with my examination, no matter has come to my attention: - 1) which gives me reasonable cause to believe that in, any material respect, the requirements: 

* to keep accounting records in accordance with section 130 of the 2011 Act; and 

* to prepare accounts which accord with the accounting records and comply accounting requirements of the 2011 Act have not been met, or 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the-accounts to b reached: 

S 

## ACCOUNTANTS R US LIMITED 

2nd Floor, Beaumont House 1b Lambton Road London SW20 OLW Sl | \|20 24. 

Dated 

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## LABOUR OF LOVE WORLD MINISTRIES BALANCE SHEET AS AT 31ST MARCH 2024 

|LABOUR OF LOVE WORLDOF LOVE WORLDLOVE WORLDWORLD MINISTRIES<br>BALANCE SHEET AS AT 31ST MARCHAT 31ST MARCH31ST MARCHMARCH 2024||||
|---|---|---|---|
|Notes|2074|7073||
||£|£||
|FIXED ASSETS||||
|Equipment<br>3|188|4,719||
|CURRENT ASSETS||||
|Dedtors<br>6<br>Topastor Car|1,250<br>1,530|1,750<br>1,530||
|Cash in hand& Bank|471|1,630||
||3,251|4410||
|LESS CREDITORS:<br>Amounts fallingduewithinoneyear<br>7<br>Loan|(900)<br>(475)|(1,200)<br>(475)||
|TOTALASSETSLESSCURRENTLIABILITIES|1,875|2,735,||
|CREDITORS:<br>Amountsfallingduemorethanoneyear|(50,000)|(50,000)||
|NETASSETS|(47,937)<br>(42,546)<br>|eSel|||
|MEMBERSACCUMULATED FUNDS||||
|UnrestrictedFunds<br>9|(47,937)|(42,546)||
||(47,937)|(42,546)||
|ApprovedbytheBoardof Trusteesandsignedon itsbehalfby<br>dospetAUB 6<x <br>Dh i<br>ole<br>ee<br>Trustee|oli[%<br>Dates||?|



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## LABOUR OF LOVE WORLD MINISTRIES 

|LABOUR OF LOVE WORLD MINISTRIES||||
|---|---|---|---|
|STATEMENT OF FINANCIALACTIVITIES||||
|FORTHE YEAR ENDED 31ST MARCH 2024||||
||Notes|2024|2023|
|||£|£|
|Income and endowments from:||||
|Tithes& Offerings|1.3|58,030|29,924|
|IR Gift Aid|||-|
|Total||58,030|29,924|
|Expenditure on:||||
|Charitable Activities|4|64,414|40,895|
|Total||64,414|40,895|
|Net movement in funds||||
|Reconciliation offunds||(6,384)|(10,971)|
|Reconciliation offunds bfwd||(42,546)|(31,575)|
|Totalfundscarriedforward||(48,930)|(42,546)|



There were no recognised gains or losses for the period other than The notes on pages 5 to 7 form part of these accounts. 

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## LABOUR OF LOVE WORLD MINISTRIES 

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 

## NOTE 1. BASIS OF ACCOUNTING 

## 1.1 Basis of accounting 

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with: the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014. 

and with the Charities Act 2011. 

## 1.2 Going concern 

The charity will continue as a going concern as there are no material uncertainties that cast significant doubt on the charity’s ability to continue as a going concern. 

## 1.3 Changes to accounting estimates 

No changes to accounting estimates have occurred in the reporting period (FRS 102 SORP). 

1.4 Material prior year error 

No material prior year error have been identified in the reporting period (FRS 102 SORP). 

## NOTE 2. ACCOUNTING POLICIES 

2.1 Income 

## Recognition of income 

These are included in the Statement of Financial Activities (SOFA) when: the charity becomes entitled to the resources; and it is more likely than not that the trustees will receive the resources. 

Income from Tithes and Offering are included in charitable activities when they are receivable. 

## Offsetting 

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. 

## Grants and donations 

Grants and donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 6.12 FRS 102 SORP). 

## Tax reclaims on donations and gifts 

Gift aid receivable is included in income when there is valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. 

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## | LABOUR OF LOVE WORLD MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 

## NOTE 2.2. EXPENDITURE AND LIABILITIES 

## Liability recognition 

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. 

Governance and support cost 

Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. 

## Creditors 

The charity has creditors which are measured at settlement amounts less any trade discounts. 

## 2.3 ASSETS 

## Tangible fixed assets for use by charity 

These are capitalised if they can be used for more than one year, and cost at least £100.00 They are valued at cost. 

The depreciation rates and methods used are disclosed in note 3. 

Debtors 

Debtors (including trade and loans receivable) are 

measured on initial recognition at settlement 

Subsequently, they are measured at the cash or other consideration expected to be received. 

## NOTE 3. TANGEBLE FIXED ASSESTS 

3.1 Cost 

|3.1 Cost||||
|---|---|---|---|
||Plant,|Fixtures,|Total|
||Machinery&|fitting and||
||Motor|equipment||
||Vehicle|||
||£|£|£|
|Cost at 1st April 2003|2,000|22,655|24,655|
|Additions during the year|ee|||
|At 31st March 2024|2,000|22,655|24,655|
|3.2 Depreciation and impairments Basis||||
||Reducing|Reducing|Reducing|
||Balance|Balance|Balance|
|Rate|25%|25%|25%|
|Depreciation as at 1st April 2023|2,000|17,936|19,936|
|Charge forthe year|-|4,531|4,531|
|At 31st March 2024|2,000|22,467|24,467|
|Net Book Value at 31st March 2024|-|188|188|
|NetBookValueat31stMarch2023|-|4,719|4,719|



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## LABOUR OF LOVE WORLD MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 

## NOTE 4, EXPENDITURE ON CHARITABLE ACTIVITIES 

||Unrestricted|Funds Total|
|---|---|---|
||2024|2023|
||£|£|
|Rent& Rates|4,400|3,760|
|Telephone& Internet|-|513|
|Evangelism & Mission|1,358|1,060|
|Equipment Expenses|-|833|
|Repairs & Renewals|290|-|
|Welfares and Love Gifts|3,420|5,427|
|Printing, Postage and Stationery|23|-|
|Honorarium|12,915|9,700|
|Depreciation|4,531|4,575|
|Accountancy Fee|700|700|
|Legalfee|-|500|
|Advertising and Publicity|2,300|6,420|
|Travel|1,080|-|
|Motor Expenses|5,501|493|
|Insurance - Health & Safety|3,785|3,534|
|Church Meeting|24,110|3,380|
||64,414|40,895|



## NOTE 5. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES 

## 5.1 Trustee remunerations and benefits 

None of the trustees have been paid any remuneration or received any other benefits from an employment with the charity or a related entity. 

## 5.2 Trustees’ expenses 

No trustee expenses have been incurred 

## NOTE 6. DEBTORS AND PREPAYMENTS 6.1 Analysis of debtors 

|||2024|2023|
|---|---|---|---|
|Rent|Deposit|1,250|1,250|
|||1,250|1,250|



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## LABOUR OF LOVE WORLD MINISTRIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 

## NOTE 7. CREDITORS AND ACCRUALS 

|NOTE 7. CREDITORS AND ACCRUALS|||
|---|---|---|
|7.1 Analysis of creditors|||
|Amounts falling due within one year|||
||2024|2023|
||£|£|
|Accruals|900|1,200|
||900|1,200|
|Bounce Back Loan||50,000|
|NOTE 8. NETMOVEMENT IN FUNDS FORTHEYEAR|||
|The net movement in funds fortheyear is stated after|||
|charging:|||
||2024|2023|
||£|£|
|Depreciation oftangible fixed assets - for use bythe|||
|charity|4,531|4,575|
|Accountancy Fee|700|700|
|Loan|||
||5,231|5,275|
|NOTE 9. ANALYSIS OF NETASSETS BETWEEN FUNDS|||
||2024|2023|
||£|£|
|Equipment, Fixtures & Fittings|188|4,719|
|Net CurrentAssets less Liabilities|(48,125)|(47,265)|
|UnrestrictedFunds|(47,937)|(42,546)|



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