# **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**
**2022**2021
**Note**
Unrestricted Restricted
**2**
**52,847**0**52,847**50,425
**3**
**10,987**
0**10,987**11,543
**63,834 0 63,834**61,968
**4**
**46,255**
0**46,255**39,185
**5**
**5,377**
0**5,377**3,788
**51,632**
**0 51,632**42,973
**12,202**
**0 12,202**18,995
**6**
**12,202**
0**12,202**18,995
82,420 0 82,420 63,425
**7**
**94,622**
**0 94,622**82,420|
|---|---|
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 due**12
**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 -**