Charity registration number: 1171102
Light London
Annual Report and Financial Statements
for the Year Ended 31 March 2022
Contents
| Contents | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 to 3 |
| Statement of Trustees' Responsibilities | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 15 |
Reference and Administrative Details
Trustees
Dr Sharon Stone
Miss Sandra Bryant Greg Black David Oluwatobilola Arayomi Nicola Obianuju Ufomadu
Principal Office
23 Green Lanes Epsom KT19 9TW
Charity Registration Number
1171102
Independent Examiner
Kolade Andrew Alli ACMA Kare Financial Management Consultants Ltd 10 Gatcombe Gardens West End Hampshire SO18 3NA
Page 1
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2022.
Objectives and activities
The following activities summarised below took place during the financial period starting from 1[st] April 2021 to the 31[st] March 2022.
Having had two years of Covid as restrictions were lifted we found a venue at the Vue Cinema and went back to Church. All congregants have to register online or when they turn up in order to go into Service and on average we have around 150 attendees attend in person to Church and Cyber Church, have over 300 plus attendees from all over the world, including the USA, Australia, New Zealand, Europe, Africa and the Caribbean. So Cyber Church is a very important part of our ministry and has helped so many people, through our prays and supplication. We also celebrated our 5th anniversary in March and have continued our celebrations of birthdays for members of our Church with birthday cakes and celebration.
As a Church we continue to run our Go Deeper Bible Study and prayer sessions through zoom and Instagram. Our Go Bible Study continues to reach a wider audience in many different nations and has helped those who are unable to attend a church in person or who do not have a church home where they are and has brought them to a better understanding of who God is in their life. Through our go deeper we have also given prophetic words to individuals online which have seen healing take place and deliverance. Using social media has helped us to reach so many more people and we have increased the numbers of users on our slack page, where they can get news and information of what we are doing as a church and events that are happening and how they can attend.
Children’ Ministry, I am so pleased to say that the Children’s Ministry moved from being online to in person again once we moved to in person meeting. This ministry has been such a blessing to the young people that attend now up to end of March we have been running it for children 4 and above, but we are looking to run Children’s Ministry from 3 years old. Watch this space.
Our food bank programme is still ongoing with the owners of the food bank, asking us to give advice and pray to those who want it. This lifeline is vital to many of the people in Newham and Stratford and we as a Church will continue to offer our services in that area.
Page 2
Trustees' Report
We as a church are still looking for our very own Church home to purchase and to help us in this pursuit, we have taken out an investment that will grow and go some way to help us in this endeavour to find the right building for our Church in the long term.
Public benefit
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.
The annual report was approved by the trustees of the charity on 31 August 2022 and signed on its behalf by:
Samdr bryant
......................................... Miss Sandra Bryant Trustee
Page 3
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.
Approved by the trustees of the charity on 31 August 2022 and signed on its behalf by:
Samdr bryant
......................................... Miss Sandra Bryant Trustee
Page 4
Independent Examiner's Report to the trustees of Light London
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2022 which are set out on pages 6 to 15.
Respective responsibilities of trustees and examiner
As the charity’s trustees of Light London 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 Light London'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
Since Light London's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Chartered Institute of Management Accountants UK, which is one of the listed bodies.
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:
-
accounting records were not kept in respect of Light London as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
...................................... Kolade Andrew Alli ACMA
Kare Financial Management Consultants Ltd 10 Gatcombe Gardens West End Hampshire SO18 3NA
- 31 August 2022
Page 5
Statement of Financial Activities for the Year Ended 31 March 2022
| Statement of Financial Activities for the Year Ended 31 March 2022 |
Statement of Financial Activities for the Year Ended 31 March 2022 |
|---|---|
| Unrestricted Restricted Total 2022 Total 2021 |
|
| Note £ £ £ £ |
|
| Income and Endowments from: | |
| Charitable activities | 374,537 6 374,543 385,761 |
| Expenditure on: | |
| Charitable activities | (348,908) - (348,908) (250,355) |
| Total expenditure | |
| (348,908) - (348,908) (250,355) |
|
| Net income | |
| 25,629 6 25,635 135,406 |
|
| Transfers and prior | |
| period adjustments | (4,997) - (4,997) 47,024 |
| Net movement in funds | |
| 20,632 6 20,638 182,430 |
|
| Reconciliation of funds | |
| Total funds brought | |
| forward | 184,889 11,680 196,569 14,139 |
| Total funds carried | |
| forward 9 |
205,521 11,686 217,207 196,569 |
All of the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for 2021 is shown in note 9.
Page 6
(Registration number: 1171102) Balance Sheet as at 31 March 2022
| (Registration number: 1171102) Balance Sheet as at 31 March 2022 |
(Registration number: 1171102) Balance Sheet as at 31 March 2022 |
|---|---|
| 2022 2021 |
|
| Note £ £ |
|
| Fixed assets | |
| Investments 6 |
20,000 - |
| Current assets | |
| Cash at bank and in hand 7 |
199,207 198,069 |
| Creditors: Amounts falling due within oneyear 8 |
|
| (2,000) (1,500) |
|
| Net currentassets | |
| 197,207 196,569 |
|
| Netassets | |
| 217,207 196,569 |
|
| Funds of the charity: | |
| Restricted income funds | |
| Restricted funds | 11,686 11,680 |
| Unrestricted income funds | |
| Unrestricted funds | 205,521 184,889 |
| Total funds 9 |
|
| 217,207 196,569 |
The financial statements on pages 6 to 15 were approved by the trustees, and authorised for issue on 31 August 2022 and signed on their behalf by:
Samdr bryant
......................................... Miss Sandra Bryant Trustee
Page 7
Notes to the Financial Statements for the Year Ended 31 March 2022
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
Light London 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.
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.
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Page 8
Notes to the Financial Statements for the Year Ended 31 March
2022
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 9
Notes to the Financial Statements for the Year Ended 31 March 2022
2 Income from charitable activities
Unrestricted
| Total | Total | |||
|---|---|---|---|---|
| General | Restricted | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Building Fund | - | 6 6 350 |
||
| Donations | 206,952 - 206,952 306,082 |
|||
| Gift Aid tax reclaimed | 68,345 - 68,345 64,824 |
|||
| Other Income | 90,257 - 90,257 9,702 |
|||
| Events Income | 8,983 - 8,983 4,803 |
|||
| 374,537 6 374,543 385,761 |
Page 10
Notes to the Financial Statements for the Year Ended 31 March 2022
3 Expenditure on charitable activities
| 3 Expenditure on charitable activities |
|
|---|---|
| Unrestricted | |
| Total Total |
|
| General 2022 2021 |
|
| £ £ £ |
|
| Advertising and Promotion Costs | 432 432 598 |
| Wages and salaries | 96,074 96,074 79,255 |
| Staff training | 162 162 73 |
| Bank charges | 676 676 652 |
| Ministry Costs | 21,141 21,141 96,552 |
| Computers, IT Software and, Consumables | 1,255 1,255 17,576 |
| Other Ministry Expenses | 65,486 65,486 - |
| Hospitality | 86 86 557 |
| Manse cost | 29,659 29,659 30,732 |
| Honorarium | 12,700 12,700 4,500 |
| Insurance | 1,340 1,340 3,042 |
| Legal and professional fees | 5,369 5,369 1,860 |
| Media ministry costs | 18,687 18,687 - |
| Motor running expenses | 2,649 2,649 1,605 |
| Premises costs | - - 315 |
| Office and general administrative expenses | 939 939 289 |
| Printing, postage and stationery | 112 112 35 |
| Rent | 38,243 38,243 - |
| Subscriptions | 10,970 10,970 7,378 |
| Sundry expenses | - - 1,003 |
| Telephone | 1,950 1,950 2,248 |
| Travel Expenses | 2,656 2,656 373 |
| Payroll Costs | - - 212 |
| Accountancy fees | 578 578 - |
| Investment costs | 20 20 - |
| Independent examiner's fee | 2,000 2,000 1,500 |
| Event Costs | 6,334 6,334 - |
| Assistance to members in need | 29,390 29,390 - |
| 348,908 348,908 250,355 |
Page 11
Notes to the Financial Statements for the Year Ended 31 March 2022
4 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
David Oluwatobilola Arayomi received remuneration of £27,713 (2021: £27,644) during the year.
Dr Sharon Stone received honorarium of £7,000 (2021: £1,500) during the year.
Page 12
Notes to the Financial Statements for the Year Ended 31 March
2022
5 Taxation
The charity is a registered charity and is therefore exempt from taxation.
6 Fixed asset investments
2022 £ Other investments 20,000
Page 13
Notes to the Financial Statements for the Year Ended 31 March 2022
| Other investments | Other investments |
|---|---|
| Unlisted investments Total |
|
| £ £ |
|
| Cost or Valuation | |
| Additions 20,000 20,000 |
|
| At 31 March 2022 20,000 20,000 |
|
| Net book value | |
| At 31 March 2022 20,000 20,000 |
|
| 7 Cash and cash equivalents |
|
| 2022 2021 |
|
| £ £ |
|
| Cash at bank 199,207 198,069 |
|
| 8 Creditors: amounts falling due within one year |
|
| 2022 2021 |
|
| £ £ |
|
| Accruals | 2,000 1,500 |
| 9 Funds |
|
| Balance at Transfers Balance at |
|
| 1 April Incoming Resources & Prior 31 March |
|
2021 resources expended period adj 2022 |
|
| £ £ £ £ £ |
|
| Unrestricted funds | |
| General | |
| 184,889 374,537 (348,908) (4,997) 205,521 |
|
| Restricted funds | |
| 11,680 6 - - 11,686 |
|
| Total funds | |
| 196,569 374,543 (348,908) (4,997) 217,207 |
Page 14
Notes to the Financial Statements for the Year Ended 31 March 2022
| 2022 | |
|---|---|
| Balance at Transfers Balance at |
|
| 1 April Incoming Resources & Prior 31 March |
|
2020 resources expended period adj 2021 |
|
| £ £ £ £ £ |
|
| Unrestricted | |
| General | |
| 2,809 385,411 (250,355) 47,024 184,889 |
|
| Restricted | |
| 11,330 350 - - 11,680 |
|
| Total funds | |
| 14,139 385,761 (250,355) 47,024 196,569 |
Page 15