Charity registration number: 1167811 Logos International Church Annual Report and Financial Statements for the Year Ended 31 December 2024
Logos International Church Contents (continued) Reference and AdministratlN'e Details Trustees, Report 2to3 Statem¢nt of Trust¢¢s' Responsibilities 4t05 Independent Examiner's Report Statement of Financial Activities 7t08 Balance Sheet 9tolO Notes to the Financial Statements 11 to 19
Logos International Church Reference and Administrative Details Trustees Mr Jesus Aldo De Carvalho Mr Alexandre Crivelaro Mr Edson Carlos De Oliveira Junior Charity Registration Number 1167811 Principal Office 3 Overhill Gardens Brighton BNI 8ND Independent Examiner Loyal Accountancy Ltd Suite 2.04 Oxford House 49 Oxford Road London N4 3EY Page I
Logos International Church Trustees, Report The truste¢s pr¢s¢nt th¢ annual report together with th¢ financial statcments of the charity for the year ended 31 December 2024. Objectives and activities Objects and ain The Objects of the organisation are to adN'ance 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 du¢ 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 th¢ Christian faith. Thc church holds several conferences to assist the development of the people in the community. The trustees confimi that thev have complied with the requirements of section 17 of the Charities Act 201 I 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 th¢ Charity to maintain unrestricted funds. which arc the rescrvcs of the charity at about 3 months of unrestricted expenditure. This proTrides 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 (continued) Structure) governance and rnanagernent Nature ofgoverning 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 activitics and monitor th¢ financial position. Finaneial instruments Objeclives andpolicies 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 dcrivativcs to manage these risks. Th¢ charity docs not us¢ derivative financial instruments for speculative purposes. The annual report was approved by the trustees of the charity on 5 March 2025 and signed on its behalf by: Mr Jesus Aldo D¢ Carvalho Trustee Mr Alexandre Crivelaro Trustee Mr Edson Carlos De Oliveira Junior Trustee Page 3
Logos International Church Statement of Trustees, Responsibilities The trustees arc responsible for pr¢paring th¢ trustees, report and th¢ 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 t-air 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 stat¢m¢nts, the trust¢¢s arc requircd 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 th¢ Charities Act 2011. th¢ Charitics (Accounts and Reports) Regulations 2008, 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. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's wcbsite. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Page 4
Logos International Church Statement of Trustees, Responsibilities (continued) Approved by the trustees of the charity on 5 March 2025 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 th¢ truste¢s on my cxamination of the accounts of Logos International Church for the year ended 31 December 2024. Responsibilities and basis of report As the charity trustees of Logos International Church you are responsible for the preparation of the accounts in accordanc¢ with th¢ rcquirements of th¢ Charitics Act 2011 ('the Act,). I report in respect of my examination of the Logos International Church's accounts Caled out under section 145 of the 2011 Act and in carrving out my examination I have followed all the applicable Directions given by th¢ Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I confinn that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of Logos Int¢mational Church as required by section 130 of the Act; or 2. the accounts do not accord with thosc records- or 3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in th¢ 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 drawi in this report in order to enable a proper understanding of the accounts to be reached. Loyal Accountancy Ltd Suite 2.04 Oxford House 49 Oxford Road London N4 3EY 5 March 2025 Page 6
Logos International Church Statement of Financial Activities for the Year Ended 31 December 2024 Unrestricted funds Total 2024 Note Ineome and Endowments from: Donations and legacies Investment income 158.419 337 158,419 337 Total income 158.756 158,756 Expenditure on: Charitable activities (129,764) (129.764) Total expenditure Net income (129.764) (129,764) 28.992 28,992 Net movcment in funds 28,992 28.992 Reconciliation of funds Total funds brought fonvard Total funds carried forward 28.224 28,224 10 57,216 57.216 The notcs on pages I I to 19 forni an integral part of th¢s¢ financial statements. Page 7
Logos International Church Statement of Financial Activities for the Year Ended 31 December 2024 (continued) Unrestricted funds Total 2023 Note Ineome and Endowments from: Donations and legacies Investment income 104.440 182 104,440 182 Total income 104.622 104,622 Expenditure on: Charitable activities (117,214) (117,214) Total expenditure (117.214) (117,214) Net expenditure (12,592) (12,592) Net movcment in funds (12,592) (12,592) Reconciliation of funds Total funds brought fonvard Total funds carried forward 40.816 40,816 10 28,224 28.224 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note l O. The notcs on pages I I to 19 forni an integral part of th¢s¢ financial statements. Page 8
Logos International Church (Registration number: 1167811) Balance Sheet as at 31 December 2024 2024 2023 Note Fixed assets Tangible assets 816 960 Current assets Debtors Cash at bank and in hand 41,881 15.938 28.340 57.819 Creditors: Amounts falling due within one year (1.419) (1,076) Net current assets 56.400 27,264 Net assets 57.216 28,224 Funds of the charity: Unrestricted income funds Unrestricted fLmds 57,216 28.224 Total funds 10 57.216 28,224 The notcs on pages I I to 19 forni an integral part of th¢s¢ financial statements. Page 9
Logos International Church (Registration number: 1167811) Balance Sheet as at 31 December 2024 (continued) The financial statements on pages 7 to 19 were approved by the trustees. and authorised for issue on 5 March 2025 and signed on their bchalf by= Mr Jesus Aldo D¢ Carvalho Trustee Mr Alexandre Crivelaro Trustee Mr Edson Carlos De Oliveira Junior Trustee The notcs on pages I I to 19 forni an integral part of th¢s¢ financial statements. Page 10
Logos International Church Notes to the Financial Statements for the Year Ended 31 December 2024 l Accounting policies Statement of compliance The financial statements have been prepared in accordance with the second edition of the Charities Statement of Rccomm¢nd¢d Practic¢ issued in October 2019. the Financial Reporting Standard applicable in the Uniled Kingdom and Republic of Ireland (FRS 102) and the Charities Act2011. Basis of preparation Logos International Church m¢¢ts th¢ definition of a public bcnefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless othenvise stated in the relevant note(s) to these accounts. Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. Ineome 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 incom¢ will b¢ received and th¢ amount can be measured with sufficient reliability. Dona¢ions and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Investmenl income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Page 11
Logos International Church Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 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 b¢ measured reliably. All costs arc 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 allocatcd on the portion of the assct's usc. Other support costs are allocated based on the spread of staff costs. Choritftble aclivilies Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its ben¢ficiari¢s. It includes both costs that can b¢ allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs Support costs include central functions and hav¢ b¢¢n allocat¢d to activity cost cat¢gorics on a basis consistent with the use of resources. for example. allocaling propety costs by floor areas, or per capita. staft 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 meetings and reimbursed expenses. Taxation The charity is considered to pass the tests set oul in Paragraph I Schedule 6 of the Finance Act 2010 and theretore it meets the definition of a charitable company for UK coryoration tax purposes. Accordingly. the charity is potentially exempt from taxation in respect of income or capital gains rcc¢iv¢d within cat¢gori¢s covered by Chapter 3 Part I l 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 impaimient losses. Page 12
Logos International Church Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 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 ¢xp¢cted useful economic life as follows: Asset class Equipment Depreeiation method and rate 15 % on reducing balance Trade debtors Trade debtors are amounts due from customers for merchandise sold or services perfonned in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method. less provision for impairn]ent. A provision for the impairment of trad¢ debtors is cstablished when there is objcctive evidence that the charity will not be able to collect all amounts due according to the original temis of the receivables. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objcctivcs of th¢ charity. Financial instruments Fair value measuremenl The best evidence ot fair N'alue is a quoted price for an identical asset in an active market. Ivhen quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair valu¢ as long as ther¢ has not bc¢n a significant change in economic circumstances or a significant lapse of lime 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 13
Logos International Church Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 2 Income from donations and legacies Unrestricted funds General Total funds Donations and legacies; Donations from individuals Gift aid reclaimed 116,538 41.881 116,538 41.881 Total for 2024 158,419 158,419 Total for 2023 104.440 104,440 3 Investment income Unrestricted funds General Total funds Interest receivable and similar income; Interest receivabl¢ on bank deposits Total for 2024 337 337 337 Total for 2023 182 182 Page 14
Logos International Church Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 4 Analysis of governance and support costs Support costs allocated to charitable activities Allocated Support costs Other support costs Governance costs Total funds Wages and salaries Employer pension contribution Social help and benevolent giving Missionary church Honorarium Church house rent Church rent Hall hire Office rent Rates Repairs and renewals Cleaning Subscription Printing, stationery and computer consumables Fuel and oil Parking and tolls charges Motor expenses Subsistenc¢ Rail. air and taxi fares Hotel accommodation Media services and website costs Music training and services Bookkeeping fccs Bank charges Church event Refreshments Depreciation 23.614 362 2.610 23,614 2,610 9.540 10,364 20,300 11,510 2,977 5.112 2,570 532 140 148 9,540 10.364 20.300 11.510 2.977 5.112 2.570 532 140 148 1.222 4.878 1,508 429 1.526 4.565 1.099 6,967 2.019 1,222 4,878 1,508 429 1.526 4,565 1,099 6,967 2,019 3.880 300 3.382 1,526 144 3.880 300 3.382 1,526 144 Page 15
Logos International Church Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) Allocated Support costs Other support costs Governance costs Total funds Telephone and internet Light and heat Insurance Book and materials 1.080 4.064 204 1.192 1.080 4,064 204 1,192 Total for 2024 116.344 9,540 129.764 Total for 2023 1.650 108.451 7,113 117.214 5 Staff costs The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as tull time equiN'alents was as follows: 2024 2023 Averag¢ number of persons employed No employee received emoluments of more than £30.000 during the year Page 16
Logos International Church Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 6 Tangible fixed assets Furniture and equipment Total Cost At l January 2024 2,544 2,544 At 31 December 2024 2,544 2,544 Depreciation At l January 2024 Charge for the year 1,584 144 1,584 144 At 31 December 2024 1,728 1,728 Net book value At 31 December 2024 816 816 At 31 December 2023 960 960 7 Debtors 2024 Other debtors 41.881 Debtors includes £41,881 (2023: £Nil) receivable after more than one year. 2024 Other dcbtors 41,881 8 Cash and cash equivalents 2024 2023 Cash at bank 15,938 28.340 Page 17
Logos International Church Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 9 Creditors: amounts falling due within One year 2024 2023 Other taxation and social security Other creditors 1,399 20 1,009 67 1.419 1,076 10 Funds Balance at 31 December 2024 Balance at I January 2024 Ineoming resources Resources expended Unrestricted funds General 28.224 158.756 (129,764) 57.216 Balance at 31 December 2023 Balance at I January 2023 Ineoming resources Resources expended Unrestricted funds General 40.816 104.622 (117,214) 28,224 Page 18
Logos International Church Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) I l Analysis of net assets between funds Total funds at31 December 2024 Unrestricted funds General Tangible fixed assets Cuent assets Current liabilitics 816 57,819 (1,419) 57.216 816 57,819 (1.419) 57.216 Total net assets Total funds at31 December 2023 Unrestricted funds General Tangible fixed assets Current assets Current liabilities 960 28,340 (1,076) 28.224 960 28.340 (1,076) 28,224 Total net assets Page 19