LIGHT FOR NATIONS MISSION FINANCIAL STATEMENTS
31[ST] DECEMBER 2022
Charity Number - 1164611
LIGHT FOR NATIONS MISSION
Trustees
Mr Disiyi Lousiela
Mr Diya Andre Salazaku
Miss Enkele Bonyene
Miss Rita Lilala
Minister in Charge
Rev. Diya Andre Salazaku
Charity number 1164611
Registered address
28 Wellington Avenue Edmonton London N9 7LB
Accountants
Abica Phil & Co Financial Accountants 1 Cotleigh Road West Hampstead London NW6 2NL
Bankers
LLOYDS
LIGHT FOR NATIONS MISSION
FINANCIAL STATEMENTS
YEAR ENDED 31[st] December 2022
| CONTENTS | PAGE |
|---|---|
| Trustees annual report | 4 |
| Independent Examiner | 6 |
| Statement of the financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 |
LIGHT FOR NATIONS MISSION
TRUSTEES ANNUAL REPORT
YEAR ENDED 31[st] December 2022
The trustees have pleasure in presenting their report and accounts for the period ended 31[st ] December 2022.
Principal activities
The charity’s principal activity during the year continued to be the running of a church, the preaching of the gospel and advancement of Christian religion, and the alleviation of poverty and helping the weak and vulnerable in society.
Review of the current year
We thank God for a good year. Faithfull members and friends have been very supportive throughout the year. The church is growing and reaching more people. We have also ended the year with a surplus.
The coming year
Our soul winning and evangelistic programme, training of workers and caring for the homeless in our community will continue.
Our support to local groups will continue
- 4 –
LIGHT FOR NATIONS MISSION
TRUSTEES ANNUAL REPORT (continued)
YEAR ENDED 31[st] December 2022
RESPONSIBLITIES OF THE TRUSTEES
The trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.
The law requires the trustees to prepare financial statements in accordance with the United Kingdom, General Accepted Accounting Practice (United Kingdom Accounting Standard and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the surplus or deficit for that period.
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply the Charities Act 1993, The Charity (Accounts and Reports) Regulations 2008 and the provision of the trust deed.
The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees who served during the year were as follows:
Mr Disiyi Lousiela Mr Diya Andre Salazaku Miss Enkele Bonyene Miss Rita Lilala
This report was approved by the board on 29[th] September 2023.
Rev. Diya Andre Salazaku Board of Trustees Trustee
-5-
LIGHT FOR NATIONS MISSION
YEAR ENDED 31[st] December 2022
RESPECTIVE RESPONSIBILITIES OF MINISTERS AND EXAMINER
The charity’s trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts (under section 43 of the Act);
-
to follow the procedures laid down in the General Directions given by the Charity Commission (under section 43(7) (b) of the Act); and
-
to state whether particular matters have come to my attention.
BASIS OF THE INDEPENDENT EXAMINER’S REPORT
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
INDEPENDENT EXAMINER’S STATEMENT
In the course of my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:
-
proper accounting records are kept (in accordance with section 41 of the 1993 Act); and
-
accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
29[th] September 2023.
P.K. Mensan FFA, FCCA Fellow of the Institute of Financial Accountants
ABICA PHIL & CO 1 Cotleigh Road West Hampstead London NW6 2NL
- 6 –
LIGHT FOR NATIONS MISSION
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31[st] December 2022
INCOMING RESOURCES Incoming resources from generated funds Voluntary income: donations Other Income Total Incoming Resources RESOURCES EXPENDED Cost of generating funds: Charitable expenditure Governance Costs TOTAL RESOURCES EXPENDED Net Incoming(Outgoing) Resources Net Movement in Funds Balance at 1stJanuary Balances at 31stDecember |
Total Funds 20222021 Note Unrestricted Restricted 2 52,847052,84750,425 3 10,987 010,98711,543 63,834 0 63,83461,968 4 46,255 046,25539,185 5 5,377 05,3773,788 51,632 0 51,63242,973 12,202 0 12,20218,995 6 12,202 012,20218,995 82,420 0 82,420 63,425 7 94,622 0 94,62282,420 |
|---|---|
All movements are in Unrestricted Funds The notes on page 8 to 13 form part of these financial statements.
- 7 –
LIGHT FOR NATIONS MISSION
BALANCE SHEET
| YEAR ENDED 31st December 2022 £ Note FIXED ASSETS Tangible assets 8 CURRENT ASSETS Cash at bank 9 91,265 Debtors 106,247 97,512 CREDITORS: Amounts falling due within one year 11 (2,890) NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: Amounts falling due12 after one year NET ASSETS TOTAL FUNDS |
2022 £ 0 94,622 94,622 - 94,622 94,622 |
2021 £ 308 78,569 5,485 84,054 (1,942) 82,112 82,420 **- ** 82,420 82,420 |
|
|---|---|---|---|
These financial statements were approved by the Board of Trustees on 29[th] September 2023.
Chairman Board of Trustees
Trustee
The notes on page 8 to 13 form part of these financial statements.
- 8 –
LIGHT FOR NATIONS MISSION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31[st] December 2022
1. ACCOUNTING POLICIES 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 2005).
Incoming Resources
Income from tithes and offerings is included in incoming resources when these are receivable.
Investment income consists of net interest received during the year and accounted for as unrestricted.
Resources expended
Resources expended are included in the Statement of Financial Activities on accrual basis, inclusive of VAT which cannot be recovered. Certain expenditure is attributable to specific activities and has been in those cost categories.
Depreciation
Depreciation is calculated so as to write off the cost of an asset on a straight-line basis over the useful economic life of the asset concerned. The principal rates used for this purpose which are consistent with those of past years as follows:
Musical Equipment 25% straight line Church Equipment 25% straight line
2. VOLUNTARY INCOME: DONATIONS
Tithes & Offerings Donations Thanksgivings |
Total Funds 2022 £ 52,847 0 0 52,847 |
2021 £ 50,425 0 0 50,425 |
|---|---|---|
- -9 –
LIGHT FOR NATIONS MISSION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31[st] December 2022
| 2022 3. OTHER INCOME Gift Aid 6,247 Grants 4,740 10,987 4. COSTS IN FURTHERANCE OF CHARITABLE OBJECTS Total Funds 2022 £ Provision of charitable services: Mission House Expenses 18,150 Mission 0 Grant Project 4,740 Members Welfare 380 Training 0 Hospitality 0 Hall Hire 20,673 Guest Speakers Honorarium 2,312 46,255 5. GOVERNANCE COSTS: 2022 £ Utilities 0 Stationeries & Printing 0 Subscription 149 Professional Fees 750 Transport & Travel 2,030 Sundry expenses 0 Accountancy fees 2,140 Depreciation 308 5,377 |
2021 5,485 6,058 11,543 2021 £ 16,800 398 6,058 730 0 235 14,264 700 39,185 2021 £ 0 200 129 802 1,090 120 1,140 307 3,788 |
|---|---|
No Salaries or benefits have been paid to trustees, including the members of the various departments during the year.
- 10 -
LIGHT FOR NATIONS MISSION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31[st] December 2022
6. NET MOVEMENT IN FUNDS
The net movement in funds for the year is stated after charging depreciation on tangible fixed assets:
| assets: | ||||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| £ | £ | |||||
| Depreciation | 308 | 307 | ||||
| 7. |
FUNDS | |||||
| Unrestricted | Restricted | Total | Total | |||
| Funds | Funds | 2022 | 2021 | |||
| £ | £ | £ | £ | |||
| At 1st January | 82,420 | 0 | 82,420 | 63,425 | ||
| Surplus / (Deficit) for the year At 31st December |
12,202 94,622 |
0 0 |
12,202 94,622 |
18,995 82,420 |
Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objects. Restricted funds are funds which have been given for particular purposes and projects.
- 11 -
LIGHT FOR NATIONS MISSION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31[st] December 2022
8. TANGIBLE FIXED ASSETS
| Musical | Church | Total | ||
|---|---|---|---|---|
| Equipment | Equipment | |||
| £ | £ | £ | ||
| COST: | ||||
| At 1stJanuary 2022 | 0 | 0 | 0 | |
| Additions | 5,000 | 1,230 | 6,230 | |
| Disposals | 0 | 0 | 0 | |
| At 31st December 22 |
5,000 | 1,230 |
6,230 |
|
| DEPRECIATION | ||||
| At 1stJanuary 2022 | 5,000 | 922 | 5,922 | |
| Charge for the year | 0 | 308 | 308 | |
| Disposals | 0 | 0 | 0 | |
| At 31st December 22 | 5,000 | 1230 |
6,230 | |
| NET BOOK VALUE | ||||
| At 31st December 22 | 0 | 0 | 0 | |
| At 31stDecember 21 | 0 |
308 | 308 | |
| 9. BANK & CASH | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Current/Savings | Account | 91,265 | 78,569 | |
| Cash in hand | 0 | 0 | ||
| 91,265 | 78,569 |
-12-
LIGHT FOR NATIONS MISSION
NOTES TO THE FINANCIAL STATEMENTS
| YEAR ENDED 31st December 2022 10. DEBTORS: HMRC: Gift Aid 11. CREDITORS: Amounts falling due within one year Professional Fees Argos Equipment Accounts Fees 12. CREDITORS: Amounts falling due after one year |
2022 £ 5,485 2022 £ 750 - 2,140 2,890 2022 £ - |
2021 £ 5,485 2021 £ 802 - 1,140 1,942 2021 £ - |
|---|---|---|
13. TAXATION
As a charity, there is exemption from taxation on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
14. RELATED PARTY TRANSACTIONS
No payments were made to trustees or any other persons connected with them during this financial period in their capacity as trustees. No material transaction took place between the Charity and a trustee or any person connected with them.
-13 -