Charity registration number: 1167811
Logos International Church
Annual Report and Financial Statements
for the Year Ended 31 December 2020
Logos International Church
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 3 |
| Statement of Trustees' Responsibilities | 4 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 to 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 to 19 |
Logos International Church
Reference and Administrative Details
Trustees Mr Jesus Aldo De Carvalho Mr Alexandre Crivelaro Mr Edson Carlos De Oliveira Junior Principal Office 3 Overhill Gardens Brighton BN1 8ND Charity Registration Number 1167811 Independent Examiner Loyal Accountancy Ltd 4 Amhusrt Park Amhurst Parade London N16 5AA
Page 1
Logos International Church
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2020.
Objectives and activities
Objects and aims
The Objects of the organisation are to advance the Christian Religion [in accordance with the Statement of faith] throughout the world as the trustees may see fit from time to time. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
Public benefit
The organisation holds services with individuals equipped and educated on the principles and doctrines of the Christian faith. The church holds several conferences to assist the development of the people in the community.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Financial review
Policy on reserves
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.
Page 2
Logos International Church
Trustees' Report
Structure, governance and management
Nature of governing document
The Charity governing document is a declaration of trust that was adopted on 16 December 2015. The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
Financial instruments
Objectives and policies
The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
The annual report was approved by the trustees of the charity on 20 October 2021 and signed on its behalf by:
......................................... Mr Jesus Aldo De Carvalho Trustee
......................................... Mr Alexandre Crivelaro Trustee
......................................... Mr Edson Carlos De Oliveira Junior Trustee
Page 3
Logos International Church
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. 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.
Page 4
Logos International Church
Statement of Trustees' Responsibilities
Approved by the trustees of the charity on 20 October 2021 and signed on its behalf by:
......................................... Mr Jesus Aldo De Carvalho Trustee
......................................... Mr Alexandre Crivelaro Trustee
......................................... Mr Edson Carlos De Oliveira Junior Trustee
Page 5
Logos International Church
Independent Examiner's Report to the trustees of Logos International Church
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2020 which are set out on pages 7 to 19.
Respective responsibilities of trustees and examiner
As the charity’s trustees of Logos International Church you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Logos International Church's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of Logos International Church as required by section 130 of the 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 concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
...................................... Loyal Accountancy Ltd
4 Amhusrt Park Amhurst Parade London N16 5AA
20 October 2021
Page 6
Logos International Church
Statement of Financial Activities for the Year Ended 31 December 2020
| Note Income and Endowments from: Donations and legacies Investment income 3 Total income Expenditure on: Charitable activities Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 10 |
Unrestricted funds £ 84,254 10 84,264 (66,214) (66,214) 18,050 18,050 19,677 37,727 |
Total 2020 £ 84,254 10 |
|---|---|---|
| 84,264 | ||
| (66,214) | ||
| (66,214) | ||
| 18,050 | ||
| 18,050 19,677 |
||
| 37,727 |
The notes on pages 10 to 19 form an integral part of these financial statements. Page 7
Logos International Church
Statement of Financial Activities for the Year Ended 31 December 2020
| Note Income and Endowments from: Donations and legacies Investment income 3 Total income Expenditure on: Charitable activities Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 10 |
Unrestricted funds £ 104,866 10 104,876 (93,127) (93,127) 11,749 11,749 7,928 19,677 |
Total 2019 £ 104,866 10 |
|---|---|---|
| 104,876 | ||
| (93,127) | ||
| (93,127) | ||
| 11,749 | ||
| 11,749 7,928 |
||
| 19,677 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2019 is shown in note 10.
The notes on pages 10 to 19 form an integral part of these financial statements. Page 8
Logos International Church
(Registration number: 1167811) Balance Sheet as at 31 December 2020
| Note Fixed assets Tangible assets 7 Current assets Cash at bank and in hand 8 Creditors: Amounts falling due within one year 9 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 10 |
2020 £ 1,562 36,514 (349) 36,165 37,727 37,727 37,727 |
2019 £ 1,838 17,839 - |
|---|---|---|
| 17,839 | ||
| 19,677 | ||
| 19,677 | ||
| 19,677 |
The financial statements on pages 7 to 19 were approved by the trustees, and authorised for issue on 20 October 2021 and signed on their behalf by:
.........................................
Mr Jesus Aldo De Carvalho Trustee
.........................................
Mr Alexandre Crivelaro Trustee
.........................................
Mr Edson Carlos De Oliveira Junior Trustee
The notes on pages 10 to 19 form an integral part of these financial statements. Page 9
Logos International Church
Notes to the Financial Statements for the Year Ended 31 December 2020
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Logos International Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Page 10
Logos International Church
Notes to the Financial Statements for the Year Ended 31 December 2020
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
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.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Page 11
Logos International Church
Notes to the Financial Statements for the Year Ended 31 December 2020
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class
Equipment
Depreciation method and rate 15% on reducing balance
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Financial instruments
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
Page 12
Logos International Church
Notes to the Financial Statements for the Year Ended 31 December 2020
2 Income from donations and legacies
| Donations and legacies; Donations from individuals Total for 2020 Total for 2019 3 Investment income Interest receivable and similar income; Interest receivable on bank deposits Total for 2020 Total for 2019 |
Unrestricted funds General £ 84,254 84,254 104,866 Unrestricted funds General £ 10 10 10 |
Total funds £ 84,254 |
|---|---|---|
| 84,254 | ||
| 104,866 | ||
| Total funds £ 10 |
||
| 10 | ||
| 10 |
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Logos International Church
Notes to the Financial Statements for the Year Ended 31 December 2020
4 Analysis of governance and support costs
Support costs allocated to charitable activities
| Wages and salaries Employer pension contribution Social help and benevolent giving Missionary church Honorarium Church house rent Church rent Office rent Rates Repairs and renewals Cleaning Subscription Printing, stationery and computer consumables Fuel and oil Parking and tolls charges Motor expenses Travel and subsistence Rail, air and taxi fares Hotel accommodation Media services and website costs Music training and services Bookkeeping fees Church event Refreshments Depreciation Telephone and internet |
Governance costs £ - - - - - - - - - - - - - - - - - - - - - 1,440 - - - - |
Allocated Support costs £ 12,329 187 100 - 350 15,600 7,571 4,620 2,619 1,446 70 100 1,920 1,820 889 59 148 491 262 1,990 1,157 - 1,374 1,386 276 374 |
Other support costs £ - - - 7,636 - - - - - - - - - - - - - - - - - - - - - - |
Total funds £ 12,329 187 100 7,636 350 15,600 7,571 4,620 2,619 1,446 70 100 1,920 1,820 889 59 148 491 262 1,990 1,157 1,440 1,374 1,386 276 374 |
|---|---|---|---|---|
Page 14
Logos International Church
Notes to the Financial Statements for the Year Ended 31 December 2020
| Total for 2020 Total for 2019 |
Governance costs £ 1,440 1,440 |
Allocated Support costs £ 57,138 83,160 |
Other support costs £ 7,636 8,527 |
Total funds £ 66,214 |
|---|---|---|---|---|
| 93,127 |
Page 15
Logos International Church
Notes to the Financial Statements for the Year Ended 31 December 2020
5 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Mr Edson Carlos De Oliveira Junior
Mr Edson Carlos De Oliveira Junior received remuneration of £12,329 (2019: £10,798) during the year.
No trustees have received any reimbursed expenses from the charity during the year.
6 Staff costs
The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:
| 2020 No Average number of persons employed 1 No employee received emoluments of more than £30,000 during the year |
2019 No 1 |
|---|---|
7 Tangible fixed assets
| Cost At 1 January 2020 At 31 December 2020 Depreciation At 1 January 2020 Charge for the year At 31 December 2020 Net book value At 31 December 2020 |
Furniture and equipment £ 2,544 2,544 706 276 982 1,562 |
Total £ 2,544 |
|---|---|---|
| 2,544 | ||
| 706 276 |
||
| 982 | ||
| 1,562 |
Page 16
Logos International Church
Notes to the Financial Statements for the Year Ended 31 December 2020
| At 31 December 2019 8 Cash and cash equivalents Cash at bank |
Furniture and equipment £ 1,838 |
Total £ 1,838 |
||
|---|---|---|---|---|
| 2020 £ 36,514 |
2019 £ 17,839 |
Page 17
Logos International Church
Notes to the Financial Statements for the Year Ended 31 December 2020
9 Creditors: amounts falling due within one year
| Other taxation and social security Other creditors 10 Funds Unrestricted funds General Unrestricted funds General |
Balance at 1 January 2020 £ 19,677 Balance at 1 January 2019 £ 7,928 |
Incoming resources £ 84,264 Incoming resources £ 104,876 |
Resources expended £ (66,214) Resources expended £ (93,127) |
2020 £ 94 255 |
|---|---|---|---|---|
| 349 | ||||
| Balance at 31 December 2020 £ 37,727 |
||||
| Balance at 31 December 2019 £ 19,677 |
Page 18
Logos International Church
Notes to the Financial Statements for the Year Ended 31 December 2020
11 Analysis of net assets between funds
| Tangible fixed assets Current assets Current liabilities Total net assets Tangible fixed assets Current assets Total net assets |
Unrestricted funds General £ 1,562 36,514 (349) 37,727 Unrestricted funds General £ 1,838 17,839 19,677 |
Total funds at 31 December 2020 £ 1,562 36,514 (349) |
|---|---|---|
| 37,727 | ||
| Total funds at 31 December 2019 £ 1,838 17,839 |
||
| 19,677 |
Page 19