REGISTERED COMPANY NUMBER: 04473839 (England and Wales) REGISTEFiED CHARITY NUkl8ER: 1164181 nau Fin ded 30 June 2 24 Argon & Kryptort Consulting Ltd (Chartered Certifled Accountants & T&x Advisers) Unli 6 Town Quay Wharf Abbey Road Barking Essex IGII 7BZ
Page Report of the Trustees Independent Examlner's Report Statement of Financial Activities Statement of Financial Position 6 to 7 Notes lo the Flnanclal Stalements 8 to 13 Detailed Statement of Financial Actiulties 14 to IS
Forth the Word Ltd ort of th Tr orthey The trustees who are also dlrectors of the charity for the purpose5 of the Companles Act 2006, present their report with the flnanclal statements of the charity for the year ended 30 June 2024. The trustees have ado ted the proulslons of A¢counlin9 and Reporting by Charities.. Statement of Recommended Practlce app icable to charitie5 appllcable In the UK an Irepanng their accounts in accordance with the Financial Reportln9 Standard Republic of Ireland IFRS 102) leffecllue l January 2019). OBJECTIVES ANO ACTIVITIES STRUCTURE. GOVERNANCE AND MANAGEMENT Holding Forth the Word Ltd Ss a charltable company limited by guarantee. incorporated on 29 June 2002 and registered as a Charity on 30 October 2015. It is 9ouerned by it5 Memorandum and Articles of Assoclation and is managed by a Board of Trustees. Decisions are determined b the Trustees who sel the slrale a simple majority vote of Pastoral Management Team for ic direction for the Charit Delegated author he day-to-day runnlng of t t has been gluen to the e operatlons of th¢ ¥harlty. OBJECTIVES ANO ACTIVITIES The charlty's objects are.. . The aduancement of the Chrlstlan rell9lon for the publlc beneflt 2. The aduancement of Chrlstlan educatlon for the publlc benefll 3. The relief of pouerti by such means as the Trustees ma of provldln9 food an from tlme lo lime Ihink fll Including by mean5 thls oblectSve clothltl9 to those In need worldwile and glvlng advlsory seruices towards achlevlng 4. The furtherance of such other purposes that are excluslvel charltable under the laujs of England and Wales as the Trustees decide, In particular but not excluslvely or the beneflt of Ihe communlty In Mllton Keynes. The or primari anlsatlon carrles out a wlde range of actltsltles In pursuance of Ils objects provldlng benellls y lo members of the Church In the flrst Instance but to others also wllhin the local communlty where the church Is sltuated. Th¢ operational base of the organlsalion Is at Holdlng Forth Chrlstlan Centre. located on Bradwell Road. New Bradwell. Milton Keynes. Pag¢ I
or ort of the Tru for the Year Ended 30 June 202 08JECTIVES ANO ACTIVITIES ACHIEVEMENTS AND PERFORMANCE FOR THE PUBLIC BENEFIT Church and Spiritual Focus Our weekly church meetlngs r¢malned a focal polnt for the or9anlzatlon. W¢ contlnued to provld¢ systeTnalic Bible teaching and education and foslered deep Spirilual growth of members. associates and attendees with a L)ieLLS to Instilling enduring Faith ualues. Durin the year. Euan elism continued to receive prime attention and our weekly Friday prayer meetlng is still a ¢sir¢d and regu ar f¢atur¢ among our base communlty as a source of uerve, direction and purpose. Pastoral Functions. We rovided a wide range of counselling and mentorin support to members as well as others from wlthln the ocal communlty who. throu h slgn-posting. seize the op ortunity. Our Men and Women fellou)shlp group5 corilinued to function ef ectivel all through Ihe year, t ereby prouiding a plalforrn for lateral and eer mentorin9. This we haue identifie as a niche area of impact within our communit . The actiuities of ese groups yielded significant personal and career deuelopment for many members uring the ear as our people continued to make positiue life changing and enhancing decisions whlch move them progr¢ssly¢ly forLvard. Christlan Education Durlng the ear, w¢ ¢xplor¢d and celebrat¢d the Im ortance of "Legacy" both as a source of motlvallon for Now an as ¢vldence of quallty accompllshmentfs) In the Futurel As usual, s¢veral semlnars w¢re held as part of our 'Life Impact. teachlng series. Attendances al many of these events were uery satisfaetor and their ouerall benefits undeniable. Our resources and lacilitators were qualified professionals an experts both from wlthln and where necessary from outslde our communlty. Samarltan and Welfare Efforts The charlty continue5 to prouide Inualuable flnanclal and malerlal as51slance to those In dlre need as can be expected of a Christian or9anization. It Is our hope that we are Increasingly able to expand the reachlscope and the beneficiaries of this essential obiectiue of ours. STRUCTURE. GOVERNANCEAND MANAGEMENT Governlng document The charity is controlled b its ouerning document. a deed of trust. and constltutes a Ilmlted company, Ilmlted by guarantee. as d¢¥. 2 by the Companies Act 2006. Ine Rlsk management The trustees understand theSr duly and responslblllty to Idenllfy. lo reulew and to mltlgate rSsks - Internal and ¢xlernal- to which th¢ ¢harily may be exposed lo which they ensure appro to proulde reasonable assurance, for Inslance, a9alnst fraud. error and compl rlal¢ controls are in place ance wlth releuant health and safety and Insurance laws. REFEAENCEANO ADMINISTRATIVE OETAILS Re9lstered Company number 04473839 {England and Wales) Reglstered Charlty number 1164181 Re Istered offlce Ho dlng Forth Chrlstlan Centre 8radw¢ll Road New Bradwell 8uckin hamshire MK130 Trustees Rev 0.0 Alala Mr A O Adewuyi Mr M A Olanrewaju Dr A Vaughan Page 2
oldi ort of th Tr st or the Year Ended 30 REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary Independent Examlner Shola Makinwa MSC. FCCA. ACIT Argon & Kry ton Consulting Ltd (Chartered lerlified Accountants S Tax Advisers) Unlt 6 Town Quay Wharf Abbey koad Barklng Essex IGI17BZ Thls report has been repared In accordance wlth the special provlslons of Part 15 of the Companles Act 2006 reiallng lo smaPI companles. Approued by order of Ihe board of trustees on 18 March 2025 and slgned on Its behalf by: RevO.O AI Trustee Page 3
Independent Examiner's Report to the Trustees of Holding Forth the Word Ltd
Independent examiner's report to the trustees of Holding Forth the Word Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Relevant professional body must be completed**, which is one of the listed bodies.
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
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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.
olusolamakinwa
Shola Makinwa MSc. FCCA, ACIT Argon & Krypton Consulting Ltd (Chartered Certified Accountants & Tax Advisers) Unit 6 Town Quay Wharf Abbey Road Barking Essex IG11 7BZ
18 March 2025
Page 4
Forth th Word L tem nt of Fin Incor or forth Y iuities eandEx O June 2024 Acc 30.6.24 Restrlcted 30.6.23 Total Unrestrlcted Total fund funds funds funds Notes INCOMEAND ENDOWMENTS FROM Donations and legacies Charltable actlvltles Holding Forth Chrlstian Cenlre Total 194.977 194.977 215.475 221,046 221.046 416.023 416.023 215,475 EXPENDITURE ON Charltable actlvltS¢s Church Actlvltles 120.113 120.113 128,368 Other 298.591 298.591 45.872 Total 18.704 418.704 174.240 NETINCOME/{EXPENDITURE) {2.6811 {2.6811 41,235 RECONCILIATION OF FUNDS Total funds brought forward 707,051 .370 768,421 727,186 TOTAL FUNDS CARRIED FORWARO 764,370 1,370 765.740 768,421 The noles forni part of these financi3151atcments Page 5
30.6.24 Restricted 30.6.23 Total Unrestrlcted Total fund funds funds funds Notes FIXED ASSETS Tangible assets 1.221.140 1.221,140 886,612 CURRENT ASSETS Debtors Cash at bank and in hand 21.838 5,724 21.838 7.094 21.755 286.785 1,370 27.562 1.370 28.932 308.540 CREDITORS Amounts falling due within one year 178.564) (78,5641 {6,573) NET CURRENT ASSETS 151,002) 1,370 149.6321 301,967 TOTAL ASSETS LESS CURRENT LIABILITIES 1.170.138 1.370 1.171.508 1.188,579 CREDITORS Amounts falling due after more than one year 1405.768) (405.768) 1420,1581 NET ASSETS 764.370 1.370 765,740 768,421 FUNDS Unrestrlcted funds., General fund Restricted funds.. Rebulld Prolecl 764,370 767.051 1.370 1.370 TOTAL FUNDS 765,740 768,421 The charltable company Is entltled to exemptlon from audlt under Sectlon 477 of the Companles Act 2006 for the year ended 30 Jurte 2024. The members haue not requlred the company to obtaln an audit of Its financlal statements for the year ended 30 June 2024 In accordance wlth Sectlon 476 of the Companies Act 2006. The trustee5 acknowledge th¢ir r¢sponsibiliti¢s for (a) ensurin Ihat the charitable company keep5 accounting records Ihal comply u)Ith Secllons 386 and 387oft e Companies Act 2006and Ibl preparing financial statements which glve a true and falr vlew of the stale ol affairs of the charitable company as at the end of each financial year and of its sur lus or def IcSt for each flnanclal year In accordance with the requirements of Sections 394 and 3 5 and whlch olherwlse compl with the requirements of the Companies Act 2006 relating to financial statements. so far as app icable lo th¢ charitabl¢ company. Thc notes fonn parf of these fillallci8151atemenls Page 6 continued...
he Word Ltd nt of Flnan Thes¢ financial statements have been prepared in accordance with the proulsions applicable to charitable companies subject to the small companies regime. The financial statements were approued by the Board of Trustees and authorlsed for issue on 18 March 2025 and were signed on its behalf by= Reu O. Trustee The nolcs forn) pan of these financial statcmcnts Page 7
Lt ACCOUNTING POLICIÉS 8asis of pr¢yarin9 the financial slatements The flnancia haue been 5tatemenls of the charitable company. which is a public benefit entity under FRS 102. Charities.. Irepared in accordance with the Charities SORP IFRS 10?) 'Accounting and Reportlng by tatement of Recommended Practice a c¢ordance with the Financial Reporting Standar plicable to charities preparln their accounts In lic of Ireland IFRS 1021 (effective l Januar 20191, Financial Reporting Iplicable in Ihe UK and Repu tandard 102 The Financial Reporting Standard applicable in the UK an Republic of Ireland. and the Companles Act 2006. The flnanclal statements have been prepared under the historlcal cost conventlon. Flnanclal reportlng standard102- reduced d15closure exemptlons The charitable company has taken aduantage of the following disclosure exemption In preparlng these financial statements. as the UK and Republic of Irelan ermitted by FRS 102'Th¢ Financial Reportlng Standard appllcabl¢ In the requirements of Section 7 Statement of Cash Flows. Income All income Is reco nlsed In the Slalement of Flnanclal Actlvltles once the charlly has entltlement to the funds. it is protable that the income will be receiued and the amount can be measured rellably. Expendlture Llablllties are recognlsed as expenditure as soon a5 there Is a legal or constructive obllgatlon commiltin be require the charity to that expenditure, it is probable that a transfer of economic benefits will in settlement and the amount of the obligation can be measured reliably. Expenditure Is accounted for on an accruals basls and has be¢n classified under headings that ag regate all cost related to the cat¢9ory. Where costs cannot be direcll allributed lo particular hea been allocated to acllullles on a basls conslstenl with i e use of resources. ir495 they have Grants offered sublect to condltlons which have not been met at the year end date are noted as a commltment but nol accrued as expenditure. Tanglble flxed assets Depreciation is rouided at the follouAng annual rates In order to wrlte off each assel ouer Its estimated us¢fu Taxatlon The charSty Is exempt frorn corporatlon tax on Its charltable actlvltles. Fund ac¢¢untln9 Unrestricted lunds can be used In accordance wlth the charltable obffiectlues at the dlscretlon of the trustees. Reslrlcled funds can only be used lor partlcular restrlcted purposes Lulthln the oblects of the charity. Restrictions arise when speclfied by the donor or when funds are ralsed for partlcular restrlcted purposes. Further explanatlon of the nature and purpose of each fund Is Included In the notes to the flnanclal statements. Hlre purchase and leasin9 commitments Renlalspaid under operating leases are charged to the Statement of Financial Actiuitles on a stralght line basis ouer the period of the lease. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities Sn the period lo whlch they relate. Page 8 ¢oniinued.--
Holdln the Word Lt ontl ed30J NET INCOMEI(EXPENOITURE) Net income/{expenditurel is stated after charging/{credilingl: 30.6.24 30.6.23 Depreciation- owned assets Copler Lease 4.347 5,795 135 TRUSTEES. REMUNERATION ANO BENEFITS There were no trustees. remuneratlon or other beneflts for the year ended 30 June 2024 nor for the year ended 30 June 2023. Twst*es' expense$ There were no Irusttes. expenses pald for the year ended 30 June 2024 nor for the year ended 30 June 2023. STAFF COSTS The auerage monthly number of employees durlng the year was as folloLLIS: 30.6.24 Senlor Pastor 6 Admlnlstratlve Staff 30.6.23 No employees receiued emoluments In excess of £60.000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrlcted Total Restrlcled fund funds funds INCOME AND ENOOWMENTS PROM Donatlons and legacies 215.475 215,475 EXPENDITURE ON Charltable actlultles Church ActiLILtie$ 128.368 128,368 Other 45.872 45.872 Total 174.240 174,240 NET INCOME 41.235 41.235 RECONCILIATION OF FUNDS Total funds brought forLtsard 725,816 1.370 727,186 TOTAL FUNDS CARRIED FORWARD 767.051 .370 768.421 P2g¢ 9 contiTLUed...
Lt TANGIBLE FIXED AssErs Fixlures and fitting5 Freehold pro erty Plant and machinery COST At l Jul 2023 Freehoyd prop Additlon5 869,225 338,875 119.010 66.343 At 30 June 2024 1.208.100 119,010 66.343 DEPRECIATION At l July 2023 Charge for year 112.571 1,610 60,634 1.4127 At 30 June 2024 62.061 NET BOOK VALUE At 30 June 2024 1.208.100 4,829 4,282 AI 30 June 2023 869,225 6,439 5.709 Motor vehicles Computer equl ment Totals COST Al l Jul 2023 Freeho d prop Addltlons 23.664 18,308 1,096,550 338.875 AI 30 June 2024 23.664 18,308 1,435.4125 DEPRECIATION Al l July 2023 Charge for year 19.452 1,053 17,281 257 209.938 4,347 At 30 June 2024 20.505 17.538 214,285 NET BOOK VALUE At 30 June 2024 3,159 770 1,221,140 At 30 June 2023 4.212 1.027 886,612 Page 10 ¢ontittued...
oldin Word L nanci ded3 DEBTORS: AMOUNTS FALLING DUE WITHIN ONEYEAR 30.6.24 30.6.23 Account Recetvable Prepayments Recoverable Loans 14,425 39 7,374 14.342 39 7,374 21.838 21.755 CREDITORS: AMOUNTS FALLING DUEWITHIN ONEYEAR 30.6.24 30.6.23 Bank loans and ouerdrafts (see note101 Trade credltors General Loan Account Nest Pension Soclal security and other taxes Mercy MlnSstry Accrued expenses 200 1.007 62,000 1.973 750 1,952 10.682 1,010 106 3.505 1,952 78,564 6.573 CRÉDITORSI AMOUNTS FALLING DVE AFTER MORE THAN ONE YEAR 30.6.24 30.6.23 Other loans {see note 101 405,768 420,158 io. LOANS An analysls of the maturlly of loans1$ 9lven below: 30.6.24 30.6.23 Amounts falllng due wlthln one year on demand: 8ank overdrafts 200 Amounts falllng due In more than flve years- Repayable by Instalments: Mortgage on HFCC Bounce Back Loan 381.100 24.668 405.768 387,032 33.126 420,158 Pagell conlinucd..
Note to the Fln for the Year Ended MOVEMENT IN FUNDS Net motsement in funds At 3016124 At 117123 Unrestricted funds General fund 707,051 {2.681) 764.370 Re5trlcted funds Rebuild Project 1.370 1.370 TOTAL FUNDS 768.421 (2.681} 765.740 Net mouemenl In funds. Included In the above are as follows- Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 416.023 (418,704) 12,6811 TOTAL FUNDS 416,023 1418,7041 12,6811 Comparatlves for movement In funds Net mouemenl In funds At 3016123 At117122 Unrestrlcted funds General fund 725.816 41,235 767,051 R¢$trlcted funds Rebulld Project 1.370 ,370 TOTAL FUNDS 727.186 41,235 768.421 ComparatSve net movement in funds. included in the above are as follows- Incoming Resourc¢s resources expended Mouement In funds Unrestrlcted funds General fund 215.475 1174,240) 41,235 TOTAL FUNOS 215.475 1174,2401 41,235 Page 12 ¢onlinued...
orth t ord Ltd toth e Year on June 11. MOVEMENT IN FUNDS- contlnued A current year 12 months and prlor year 12 months combined posltion is as follows: Nel mouement in funds At 3016124 At 117122 Unrestrl¢t¢d funds General fund 725.810 38.554 764.370 R¢stricted funds Rebuild Project 1.370 1.370 TOTAL FUNOS 727,186 38.554 765.740 A currenl year 12 months and prlor year 12 months comblned net movement In funds. Included In the aboue are as folloU.. Incomlng resources Resources expended Movement in funds Unrestrl¢t¢d funds General fund 631.498 (592.944) 38.554 TOTAL FUNDS 631.498 1592,9441 38,554 12. RELATED PARTY DISCLOSURES There were no related parly Iransactlons for the year ended 30 June 2024. Page 13
Holdin Forth the Word Ltd 30.6.24 30.6.23 INCOME ANO ENDOWMENTS Donations and legacies Tithes- Church Offerinijs Buildin Fund Income Cift Ai Received Other Ministry Income Crulcble/Yes I Wlll 129.731 91,250 50,195 36.381 37,279 53,796 420 11,030 370 194.977 215,475 Charltabl¢ a¢tlvltles Donation Ebenezer Proltct 221,046 Total In¢omln9 resour¢es 416.023 215.475 EXPENDITURE ChaTltable actlultles Wa9es- Department Social Serulces Costs Educatlon and Trainin Summlt Sch of Leaders%ip W/Of Telephone 6 Fax Trauel & Subsistence 8ooks & Journals Statlonerles & Postage Other Charges Licence,PermSts. Health&Safe¢y Other Insurance Hospltality & Other Travel Pension Costs Events Entertalnment Donatlon 6 Mlnlstry Support Honorarlum 81,764 2.274 77,285 2,123 5,000 135 832 7,123 150 2.959 ,219 7,123 213 1.826 1,000 2,509 3,310 500 2,400 847 489 429 2,867 5.854 1,605 2,579 4,650 500 105.485 114,197 othf r Webslte/Onllne TV Repairs/R¢nou•tion Cosls Mort Re iage Intere51 rs Cleanlng 8 Others utl Bulldlng Insurance Motoring Expenses 3.928 6,059 23.977 750 7,666 1,955 1,537 237,937 33,914 3,799 9,297 2,841 10.803 298.591 45.872 This pa8e doe5 not form part of the stalulory financial atemlS Page 14
in for the Y 30.6.24 30.6.23 Su ort co$t$ anagement Plant and machinery Fixtures and fittings Motor uehicles Computer equipment 1,610 1,427 1,053 257 2.146 1,903 1.404 342 4,347 5,795 Governance costs Consultancy Accountancy and Other Serulces Bank Char es CredSt Car Charges 3.106 1,705 2,285 3,185 2.730 2.610 10,281 8.376 Total resources ¢xpended Net (expendlture)/lncom¢ 418,704 174,240 12.6811 41,235 This pagt do¢s not part of ihe 51atulory financial statement5 Page 15