COMPANY REGISTRATION NUMBER CE008637 WORD OF LIFE CELEBRATION CENTRE ACCOUNTS 29 FEBRUARY 2024 Charity Number 1168912 RM ACCOUNTANCY SERVICES Chartered Accountants & Statutory Auditor Castle Cavendish Works Nottingham NG7 5PN WORD OF LIFE CELEBRATION CENTRE ACCOUNTS PERIOD FROM I APRJL 2023 TO 29 FEBRIIARY 2024 CONTENTS PAGE Reference and Administrative Details Trustee's Report Trustees, responsibilities statement Independent auditor's report to the members Statement of financial activities Income and expenditure account Balance sheet Notes to the accounts 8-11 The following pages do not fornl part of the accounts Detailed statement of financial activities 13 WORD OF LIFE CELEBRATION CENTRE REFERENCE AND ADMINISTRATIVE DETAILS PERIOD FROM 1 APRIL 2023 TO 29 FEBRUARY 2024 The trustees, who are a150 director5 for the purposes of company law. present their report and the accounts of the charity for the period from l April 2023 to 29 February 2024. REFERENCE AND ADMINISTRATIVE DKTAILS Registei'ed charity name Word of Life Celebration Centre Charity registration number 1168912 Company regi5ti'ation number CE008637 Principal oifiee 23 Frobisher Gardens Nottingham NottingJhain5hire NG5 6ET The trustees The trustees who served the charity during the period were as follows.. Dr Charles Darwin Mr Mark Joseph Mr Pauline Joseph Dr Serah Akelola Mr Grace Wanjiru Mbugua Mr Mark. Joseph was appointed as a trustee on 20 February 2024. Mr Pauline Joseph wa5 appointed as a trustee on 20 February 2024. Dr Serah Akelola was appointed as a trustee on 24 August 2023. Mr Rev Ruth Esther Charlos was appointed as a trustee on 18 May 2024. Independent Examiner RM Accountancy Services Chartered Accountants & Statutory Auditor Castle Cavendish Works Nottingham NG7 SPN WORD OF LIFE CELEBRATION CENTRE Trustee's Report PERIOD FROM 1 APRIL 2023 TO 29 FEBRUARY 2024 The trustees, who are also directors for the purposes of company law, present their report and the accounts of the charity for the period from l April 2023 to 29 February 2024. OBJECTIVES AND ACTIVTfIES The Prevention Or Relief Of Poverty. Religious Activities. PUBLIC BENEFrr General Charitsble Purposes, Educatiotvtraining, The Prevention Or Relief Of Poverty, Religious Activities. Economiclcommunity DevelopmenLlemployment, Human Rightslreligyious Or Racial Harmony/equality Or Diversity. Recreation, Artslculturetherilag6lscience. Other Charitable Purposes. Who. Childre￿yoUng People, Elderlylold people. People With Disabilities. The trustee confirm that they have complied with th¢ requirements of section 17 of the Charities Act 2011 to have due regTard to the public benefit guidance published by the Charity Commission for England and Wales. OBJECTIVES AND POLICIES The charity's activities expose it to a number of financial risks including credit risk, rash flow risk and liquidity risk. The use of financial derivatives is governed by the ch&rity'5 policies approved by the board of trustee, 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. CREDrf RISK The charity's principal fillancial assets are bank balances and cash, trade and other receivables, and investments_ The charity's credit risk is primarsly attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which. based on previous experience. is evidence of a reduction in the re¢overability of the cash flows. The credit risk on liquid funds and derivative financial Instruments is limited because the counterparties are banks with high Gredil-ratings assigned by international credit-rating agencie5. The charity has no sig7nifi¢ant concentration of credit risk, with exposure spread over a large number of counterparties and custo ers. The annual report was approved by the member of the Gharity on ....... . nd signed on its behalf Dr Charles Darwin Dire¢tor WORD OF LIFE CELEBRATION CENTRE TRUSTEES, RESPONSIBILITIES STATEMENT PERIOD FROM 1 APRIL 2023 TO 29 FEBRUARY 2024 The trustees (who are also the directors of Word of Life Celebration Centre for the purposes of company law) are respOi￿1ble for preparing the Objects and aims The Prevention Or Relief or Poverty, Religious ActivIties. and the accounts in accordance with applictLble law and regulations. Company law requires the trustee5 to prepare accounts for ea¢h financial year. Under that law the trustees have elected to prepare the a¢¢ounts in accordan¢e with United Kingdom Generally Accepted Accounting PrathiGe (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the aCcOL￿tS unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the income and expenditure of the charity for that perjod. In preparing these accounts, the tTU5tees are required to.. Sel￿t suitable accounting policies and then apply them ¢onsi5tenily' observe the methods and principles in the Charitie5 SORP; make judgements and accounting estimates that are ieasonable and prudent. and prepare the accounts on the going con¢ern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accountr'ng records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable then] to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for tskn"n8 reasonable steps for the prevention and detection of fraud and other Irregularities. Approved by the.m ber of the charity ono ? and signed on its behalf by: Dr Charles Darwin Director WORD OF LIFE CELEBRATION CENTRE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WORD OF LIFE CELEBRATION CENTRE PERIOD FROM 1 APRIL 2023 TO 29 FEBRUARY 2024 E report to the trustee on my examination of the accounts of Word Of Life Celebration Centre for the period ended 29 February 2024. Responsibilities alld basis of i'eport As the charity trustee of Word Of Life Celebration Centre you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act.). I report in respe¢t of my examination of the Word Of Life Celebration Centre's accounts carried out under section 145 of the 2011 Act and in carrying out my ex&minats"on 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 coinpleted my examii)ation. I confirm that no material matters have come to my attentiorj in connection with the examination givin&Y me cause to believe that in any material respect.. accounting records were not kepl in respect of Word Of Life Celebration Centre as required by section 130 of the Act. or 2. the accounts do not aGGord with those records; or 3. the account5 do not comply with the accounting requirements concerning the fomi and content of ￿￿ountS set out in the Charities (Accounts and Reports) Regulations 2008 other than any i'equirement that the accounts give a 'true and fair view, which is not a rnatter considered as part of an Independent examination. I have no concerns and have come across no other matters in conneGtion with the examination to wkn'ch attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. RM AccouKfANCY SERVICES Chartered Accountants & Statutory Auditor Castle Cavendish Works Nottingham NG7 5PN Our audit wa5 completed on .. ... . and our opinion was expressed at that date. WORD OF LIFE CELEBRATION CENTRE STATEMENT OF FINANCIAL ACTIVITIES PERIOD FROM 1 APRIL 2023 TO 29 FEBRUARY 2024 Total Funds Period from Total Funds IApr23to Year to 29 Feb 24 31 Mar 23 Note INCOMING RESOURCES Incoming resources froin generating funds." Voluntary in¢ome TOTAL INCOMING RESOURCES 38.458 32047 38,458 32,347 RESOURCES EXPENDED Costs of generating funds.. Fundraising tradingy.. cost of goods sold and other ¢05ts TOTAL RESOURCES EXPEI¥DED (10,613) (10,613) (89,063) (89,063) (56,716) NET INCOMING/{oirrGOtNG) RESOURCES FOR THE PERIOD RECONCILIATION OF FIINDS Tot21 funds brougyht forward TOTAL FUNDS CARIUED FORWARD 27,845 87,733 144,449 115,578 87,733 The Statement of Financial Activities includos all gains and losses in the year and therefore a statement of tothl recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. WORD OF LIFE CELEBRATION CENTRE INCOME AND EXPENDITURE ACCOUNT PERIOD FROM 1 APRIL 2023 TO 29 FEBRUARY 2024 Period from IApr23to Year to 29 Feb 24 31 Maj. 23 Note INCOME TOTAL EXPENDrruRE 38,458 (10,613) 27,845 32,347 (89,063) (56,716) OPERATING SURPLUS RETAINED SURPLUS FOR THE FINANCIAL PERIOD 27,845 (56,716) The Income and Expenditure Account includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. The notes on pages 11 to 14 forni part of these accounts. WORD OF LIFE CELEBRATION CENTRE BALANCE SHEET 29 FEBRUARY 2024 29 Feb 24 31 Mxi. 23 Nots FIXED ASSETS Tangible assets CiTRRENf ASSETS Debtors 5,475 110,354 87,984 CREDrfoRS: Amounts falling due after more than one year (251) (251) TOTAL ASSETS LESS CURREIYT LIABILrrIES 115578 87,733 NET ASSETS/(LIABILITIES) 115,578 87.733 FUNDS Unrestricted income funds 115,578 87,733 TOTAL FUNDS 11S,578 87,733 Thes couiits were approved by the members of the committee and authorised for issue on the anda ed on th￿r behalf by: Dr Charles Diiector In Company Registration Number: CE008637 WORD OF LIFE CELEBRATION CENTRE NOTES TO THE ACCOUNTS PERIOD FROM 1 APRIL 2023 TO 29 FEBRUARY 2024 ACCOUNTING POLICIES Statement of eompliwice The financial statements have been prepared In accordance with the second edition of the Charities Statement of Recommended Practice issued In October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act2011. Basis of pYep4ration Word Of Life Celebration Centre meets the definjtion of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with iterns recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. Exemption fi'om prepai'ing a cash flow statement The chaiity opted to early adopt Bulletin I published on 2 February 2016 and have therefore not included a cash flow statement in these financial st2tements. Going concei The trustee consider that there are no material uncertainties about the charity's ability to continue as a going concem. Income and endoivments Voluntary inwme including donations, gifts, legacies and grants that provide core funding or are of 2 general nature is recognised when the charity has entitlement to the income, It is piobable that the Income will be ieceived and the amount can be measured with sufficient reliability. Donations and legatie5 Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliftbly tneasured. Expenditure All expenditure is recognised oiice there is a legal or constructive obligation to that expenditure, It is probable settlement is requii'ed and the ainount can be measured reliably. All costs are allocated Èo the applicable expenditure heading that aggregate siniilai costs to that category. Where costs cannot be d]r￿tlY attributed to particular h￿dingS 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 char¥es allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs Raising fiinds These are costs incurred In attracting voluntsry inGom& the management of investments and those incurred in trading activities that raise funds. Support eosts Support costs include central functions and have been allO￿ted to activity cost categories on a basi5 consistent with the use of resources. for examplE allocating property ¢osts by floor areas, or per capita, staff costs by the time spent and other costs by their usage. WORD OF LIFE CELEBRATION CENTRE NOTES TO THE ACCOUNTS PERIOD FROM 1 APRIL 2023 TO 29 FEBRUARY 2024 ACCOUNTING POLlCtES (coiitinued) Governanee costs These include die c05t5 attriblltable to the charity compliance with constitutional and statiitory requiremeiit5. Includin¥ audit, strategic inanagement and trustee's meetings and reimbL5rsed expenses. Taxation The charity is considered to pass the test8 5¢t out in pardgraph I schedule 6 of the finance act 201 O and therefore it meets the definition of a charitsble company for UK corporation tax PUFP05es. Accordingly, the charity is potents'ally exempt from taxation in respect of income or capital gyains received within categories covered by chapter 3 part I l of the corporation tsx act 2010 or section 256 of the taxation of chargeable gThins act 1992, to the extent that such income or gains are applied exclusively to ¢haiitable purposes. Cash and cxsh equivalents Cash and cash equivalents cotnprise cash on hand and call deposits, and other short-term highly liquid investnients that are readily convertible to a known amount of cash and are subject to an insignificant risk of Ghange in value. 10 WORD OF LIFE CELEBRATION CENTRE NOTES TO THE ACCOUNTS PERIOD FROM 1 APRIL 2023 TO 29 FEBRUARY 2024 VOLUNfARY INCOME Unresh'icted Total Fund5 Total Funds Funds 2024 2023 Donations Appeals and donations Sponsoi'ship and subsci'iptions Interest income 36,983 36983 31,999 1,475 348 38,458 38,458 32.347 FLnYDRAJStNG TRADING: COST OF GOODS SOLD AND OTHER COSTS Ullre5tricted Total Funds Total Funds Funds 2024 2023 10,613 10ffj13 89,063 STAFF COSTS IIND EMOLUMENTS No salaries or wagyes have been paid to employees, including the members of the committee, during the period. TRUSTEE REMUNERATION AND EXPEIYSES The amounl expenses waived by the trustee during the year Éotslled £NIl (2023 - £Nil). TANGtBLE FIXED ASSETS Fixtures & Computer Fillings Equipment Total COST Additions 2J55 3J32 5,687 At 29 February 2024 2J55 3J32 5,687 DEPRECIATION Charge for the period At 29 Febrnary 2024 166 212 166 212 NET BOOK VALIIE At 29 February 2024 2,189 3286 5,475 10 WORD OF LIFE CELEBRATION CENTRE NOTES TO THE ACCOUNTS PERIOD FROM 1 APRIL 2023 TO 29 FEBRUARY 2024 DEBTORS 29 Feb 24 31 Mar23 Otha. debtors 110,354 87,984 CREDITORS: Amounts falling due after more than one yeAr 29 Feb 24 31 Mar23 Accruals 251 251 UNRESTiucfED tNCOME FUNDS Bai3wce at l Api'il 2023 and at 29 FebruaJT 2024 Genetal funds Add.. Movement 87,233 28,345 Balance at 29 FebrLOry 2024 115,578 11 WORD OF LIFE CELEBRATION CENTRE MANAGEMENT INFORMATION PERIOD FROM 1 APRIL 2023 TO 29 FEBRUARY 2024 The following pages do not fomi part of the statutory accounts which are the subject of the Independent auditor's report on pages 5 to 7. 12 WORD OF LIFE CELEBRATION CENTRE DETAILED STATEMENT OF FINANCIAL ACTIVITIES PERIOD FROM 1 APRIL 2023 TO 29 FEBRUARY 2024 Period from IApr23to 29 Feb 24 Year to 31 Mar23 INCOMING RESOURCES VOLUNTARY INCOME Appeals and donations Interest income 36983 1,475 31.999 348 38,458 32.347 TOTAL INCOMING RESOLIRCES 38A58 32.347 RESOURCES EXPENDED Rent Project C0515 Legal and professional fees Telephone and fax Computer expenses Depreciation Accountancy fee Bank Gharges Consultancy fee 3.740 4.037 300 1,140 96 212 968 120 4,080 4,689 1,183 250 164 9,440 TOTAL RESOURCES EXPENDED 10.613 89.063 14