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;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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:
1. accounting records were not kept in respect of Logos International Church as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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|
Page 13
## **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