_**LOVE OF HIS GLORY (TRADING NAME: LOVE OF GOD MINISTRIES LTD) FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024**_
LOVE OF HIS GLORY
|CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Church Legal and Administrative Information
Report of the trustees
Statement of financial activities
Balance Sheet
Notes to the Accounts
Independent examiner’s statement
Schedule of income and expenditure|Page|
|---|---|
||1
2-4
5
6
7-9
10
11|
LOVE OF HIS GLORY
## CHURCH LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 30 SEPTEMBER 2024
CHARITY NO NUMBER: **1158315(England and Wales)** COMPANY REGISTERATION NO: **07780288(England and Wales)** TRUSTEES: **Pastor James Chukwuemeka Okike Mrs Rebecca Okike Dr Ifeanyi Nnamdi Odina**
BUSINESS ADDRESS: **4 Bromley Road Beckenham BR3 5JE** BANKER: **Barclays Bank**
INDEPENDENT EXAMINERS: **Light Accountants 33 Postmill Road, Sandwich Kent. CT13 OFU Email:info@lightaccountants.co.uk lightcnglobalservices@gmail.com Telephone:** _**01304729369**_ **Mobile: 07429137985 Web: www. lightaccountants.co.uk**
**1**
LOVE OF HIS GLORY
REPORTS OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2024
## **For the Year Ended 30 September 2024**
The Trustees present their report and financial statements for the year ended 30 September 2024. These accounts have been prepared in accordance with the accounting policies outlined on pages 7 to 9, and comply with the Charity’s Trust Deed, the Charities Act 2011, and the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015).
This report includes a statement on public benefit in accordance with Charity Commission guidance.
## **Structure, governance, and management**
## **Constitution**
The Charity is governed by a Memorandum and Articles of Association incorporated on 20 September 2011 and subsequently amended by a Certificate of Incorporation on Change of Name dated 30/07/2014, and by a Special Resolution registered at Companies House on 01/08/2014.
## **Appointment of Trustees**
Trustees are nominated by the Chair. In selecting Trustees, the charity prioritises individuals with relevant experience in youth work, education, training, and community outreach.
## **Induction and Training of Trustees**
New Trustees undergo an induction process that includes an initial meeting with the Chair and other board members, followed by further briefings on their roles, responsibilities, and powers.
## **Organizational Structure and Decision-Making**
The Charity operates through monthly Trustee meetings, where strategic decisions are made. The day-to-day administration is overseen by the Chair, supported by volunteers from the congregation. Key areas of decision-making include strategy, donations, investments, reserves, and risk management. Pastor James Chukwuemeka Okike serves as the Senior Pastor and Chair of the Board of Trustees, supported by a dedicated leadership team.
## **Risk Management**
The Trustees have reviewed and assessed the main risks facing the organization, particularly operational and financial risks. They are satisfied that appropriate systems and procedures are in place to mitigate these risks.
## **2**
## **Reserves Policy**
The Charity aims to maintain unrestricted reserves equivalent to three months of operating costs, to ensure financial stability and to meet any unforeseen expenses. The Trustees review this policy regularly, considering anticipated expenditure and financial commitments.
## **Charitable Objectives**
The primary aim of the Charity is to advance the Christian religion for public benefit in a manner the Trustees deem appropriate.
The Church seeks to foster a community built on love, cooperation, and mutual respect among diverse religious backgrounds, acknowledging the realities of migration, globalization, and the accessibility of global religious information.
## **Key Strategies and Activities**
To achieve its objectives, the Church undertakes the following:
- Preaching the Gospel and teaching practical Christian living
- Hosting seminars and training events with experienced ministers
- Providing relief from poverty
Trustees annually review the Charity’s aims and activities, ensuring alignment with public benefit guidelines and relevant Charity Commission guidance on the advancement of religion.
## **Ongoing Activities Include:**
- Weekly services (Tuesday, Wednesday, Friday, and Sunday)
- Special programmes tailored to men, women, youth, and children
- Support for individuals in financial hardship
- Partnerships with other churches and Christian organization’s
- Pastoral care and spiritual support through Bible study, counselling, and healing services
## **Achievements and Performance**
Over the past year, the Charity continued its mission of spiritual, emotional, and practical support:
- Outreach programs provided food, clothing, and gifts to the homeless and those in need
- Financial aid was extended to members experiencing bereavement, unemployment, and economic hardship
- Empowerment seminars were organized for men, women, and youth, offering guidance on leading a resilient Christian life
- In light of the ongoing economic crisis, the Church increased support efforts both locally and internationally offering financial assistance, food distribution, and counselling to affected individuals
3
## **Investment Policy and Performance**
The Charity maintains its funds in interest-bearing accounts with reputable banks and building societies. Any changes to this policy require Trustee approval. Investment strategies aim to preserve capital while generating modest interest income.
## **Financial Review**
The primary source of income for the Charity remains congregational donations and Gift Aid. Fundraising efforts for the church building project continue.
## **Future Plans**
Looking ahead, the Charity plans to:
- Grow its membership base
- Expand outreach and support initiatives
- Host additional events to benefit the wider community
- Continue raising funds for the acquisition of a permanent church property
## **Trustees’ Responsibilities**
The Trustees are responsible for preparing the Annual Report and financial statements in accordance with applicable UK law and accounting standards (UK Generally Accepted Accounting Practice).
They are required to:
- Select and consistently apply appropriate accounting policies
- Comply with Charities SORP
- Make reasonable and prudent judgements and estimates
- Confirm compliance with applicable UK accounting standards, disclosing any departures
- Prepare the financial statements on a going concern basis
Trustees must maintain accurate financial records and ensure compliance with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the Charity’s assets and preventing fraud or financial irregularities.
## **Signed on behalf of the Board of Trustees:**
## **Name: Pastor James Chukwuemeka Okike Position: Trustee Date: 30/06/2025**
**4**
## LOVE OF HIS GLORY
## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024
|**Incoming resources from generating funds:**
Voluntary Income
**Total incoming resources**
**Resources Expended**
**Payments in Furtherance of charitable objectives**
Charitable activities
Governance costs
**Total resources expended**
**Net incoming resources/(net outgoing resources)**
before transfers between funds
Transfer between funds
Other recognise gains and losses
**Net movement in funds**
Total funds brought forward
**Total funds carried forward for the year ended**
**30th September 2024**|**Notes**
2
3
4
-
**-**|**Notes**
2
3
4
-
**-**|**Unrestricted**
**Funds**
**£**
48,119
**48,119**
42,374
6,108
**48,482**
364
-
-
**364**
6,300
**5,936**|**2024**
**Total**
**£**
48,119
**48,119**
42,374
6,108
**48,482**
364
-
-
-
**364**
**-**
6,300
**5,936**|**2023**
**Total**
**£**
32,025|**2023**
**Total**|
|---|---|---|---|---|---|---|
||||||**32,025**||
||||||47,382
1,000||
||||||**48,382**||
|||-|||(16,357.0)
-
-||
|||**-**|||**(16,357.0)**
22,657||
||||||**6,300**||
||||||||
**5**
## LOVE OF HIS GLORY
## BALANCE SHEET
## AS AT 30 SEPTEMBER 2024
|FIXED ASSETS
Tangible assets
CURRENT ASSETS
Cash at Bank and Hand
Debtors
**Creditors:amount falling**
**due within one year**
Net current assets
Net assets
FUNDS OF THE CHURCH
Unrestricted income funds
**TOTAL FUNDS**|2024
**Notes**
**£**
**£**
6
-
6,436
-
6,436
7
(500.00)
5,936
**5,936**
5,936
**5,936**|2023
**£**
**£**
220
22,787
-
22,787
(400.0)
22,387
**22,607**
22,607
**22,607**|2023
**£**
**£**
220
22,787
-
22,787
(400.0)
22,387
**22,607**
22,607
**22,607**|
|---|---|---|---|
|||||
||||**22,607**|
||||22,607|
||||**22,607**|
- 1) For the period ending 30/09/2024 the company was entitled to examption from audit under section 477 of the Companies Act 2006 relating to small companies
- 2) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006
- 3) The director's acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts
- 4) These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime
## **APPROVED BY THE BOARD ON 01/07/2025 AND SIGNED BY:**
## JCO
## **Pastor James Chukwuemeka Okike Trustee**
**6**
## LOVE OF HIS GLORY
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
## **1. Accounting policies**
The accounting policies have been applied consistently throughout the year and the preceding year.
## **a. Basis of accounting**
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities' (SORP 2015) and the Charities Act 2011.
## **b. Incoming resources**
Income resources have been clearly broken down to show the various sources of funds for the charity. The unrestricted income consists of funds the charity has discretionary control as regards its disbursement. Please note that all incoming resources are only accounted for in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when it is receivable while donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
## **c. Resources expended**
Resources expended shows the governance cost and money spent on charitable activities. Expenditure is recognised on accrual basis as a liability is incurred. Expenditure could be VAT inclusive if it cannot be fully recovered, and it is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **d. Tangible fixed assets**
Tangible fixed assets, other than freehold land are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or value of fixed assets, less their estimated residual value, over their expected useful live.
Fixtures, Furniture and Equipment - 10%
## **2. Voluntary income**
|Church Offering and Tithe
Gift Aid
Interest From Bank||**Unrestricted**
**2024**
**2023**
**Funds**
**Total**
**Total**
**£**
**£**
**£**
41,604
41,604
20,520
6,392
6,392
11,442
122.65
122.65
64.00
**48,119**
**48,119**
**32,026**|
|---|---|---|
||||
**7**
## **3. Cost of Charitable Activities**
|**Activities**
**Undertaken**
**2024**
**directly**
**Total**
**£**
**£**
Love of His Glory
42,374
42,374
42,374
42,374
|**2023**
**Total**
**£**
47,382|**2023**
**Total**|
|---|---|---|
||47,382||
## **4. Governance Costs**
||**Unrestricted**|**2024**|**2023**|
|---|---|---|---|
||**Funds**|**Total**|**Total**|
||**£**|**£**|**£**|
|Accounatncy Fee|500|500|**400**|
|Legal, Professional and Con|5,608|5,608
|600
|
|Bank Charges|-|-|-|
||**6,108**|**6,108**|**1,000**|
## **5. Employees**
**No employee received emoluments of more than £60,000.00 during the period under review.**
**Number of employees = 1. The Church made also use of 8 volunteered services and 1 freelance selfemployed workers during this financial year.**
**8**
## **6. Tangible Fixed assets Movements.**
**----- Start of picture text -----**
Fixtures,Office
DEPRECIATIONS CHARGE Equipments Total
Cost £ £
Opening Balance 3,299.0
Addition
Disposal
Revaluations
Transfer
As 30/09/2024 3,299 3,299
Depreciation rates 10%
Depreciation £
Balance b/f 3,299
- -
Charge for the year
3,299
NET BOOK VALUE
- -
30/09/2024
30/09/2023 200 200
**----- End of picture text -----**
## **7. Creditors: Amount falling due within one year: Debtors £500.00**
## **8. Unrestricted funds**
|Unrestricted funds|At|||At|
|---|---|---|---|---|
|||Incoming|Outgoing||
||2023|resources|resources|2024|
||£|£|£|£|
||6,300|48,119|48,482|5,936|
**9**
LOVE OF HIS GLORY
## INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF LOVE OF HIS GLORY
## FOR THE YEAR ENDED 30 SEPTEMBER 2024
**Respective** The charity's trustees are responsible for the preparation of the accounts. **responsibilities of** The charity’s trustees consider that an audit is not required for this year **trustees and examiner** under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether matters have come to my attention.
## **Independent examiner's statement**
- My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity 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.
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 Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities 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 be reached.
Independent examiner
## **Light Accountants**
**10**
LOVE OF HIS GLORY
|SCHEDULE OF INCOME AND EXPENDITURE
FOR THE YEAR ENED 30 SEPTEMBER 2024
RECEIPTS:
Incoming Resources:
Offering
Other Income
Gift Aid
**Total receipts**
CHARITABLE ACTIVITIES:
**Grants**
Charitable donations
**Church management and administration**
Church - Hall rental
Motor and Travelling Expenses
Church Conference and Office Expenses
Software, Telephone, Fax and Internet Services
Advertising and promotional cost
Printing,Postage &stationery
**Total Expenditure**
TOTAL CHARITABLE ACTIVITIES EXPENDITURE
**Governance Cost**
Accountancy fees
Consultancy
Bank Charges
Legal and Professional fees
TOTAL GOVERNANCE COSTS
TOTAL PAYMENTS
**Excess of receipts over payments**
Bank current and deposit accounts at 01/10/2023
Bank current and deposits accounts at 30/09/2024|**£**
33,856|**£**
33,856|**£**
41,604
-
6,515|
|---|---|---|---|
||||**48,119**
48,482|
||4,810
752
2,433
264
85
174|33,856
8,518||
||500
5,608
-
-|42,374||
|||**42,374**||
|||6,108||
|||||
|||**6,108**||
|||||
||||**364**
**-**|
||||**6,300**
**5,936**|
**11**