## **Trustees’ annual report (including Directors’ report) for the period** **From: 01/07/2021 Period start date To: 30/06/2022 Period end date** **Charity name: SPOKEN WORD MINISTRIES LIMITED** **Charity registration number: 1172141** **Company number: 8583808** ## **Objectives and activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|**The main purpose for which the Charity**
**is established is to advance the Christian**
**religion for the public benefit, in**
**accordance with the Holy Bible.**| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or services
identified in the accounts.|Para 1.17 and
1.19|**The main activities are**
•
**to conduct church service for**
**teaching, preaching and listening**
**to recorded sermons,**
•
**conducting outreaches to advance**
**the Christian religion for public**
**benefit**
•
**conducting worship services**
**including music concerts.**| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|**The Trustees have had regard to the**
**guidance on public benefit.**
•
**We provide and maintain buildings**
**for church services**
•
**We raise awareness and**
**understanding of the Christian**
**faith by spreading literature,**
**online links & DVDs without**
**discrimination**
•
**We offer various counselling**
**including marital, bereavement,**
**drug and alcohol abuse,**
**educational, teenage etc**| **Additional information (optional)** You may choose to include further statements where relevant about: SORP reference Para 1.38 Policy on grant making Policy on social investment Para 1.38 including program related investment Para 1.38 Contribution made by volunteers Other ## **Achievements and performance** ||Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|•
**During the year, we conducted**
**weekly services throughout the**
**year on Sundays, Wednesdays**
**and on Fridays which reached out**
**to a greater audience including**
**overseas**
•
**We had physical Easter meetings**
**which again reached out across**
**borders through live streaming.**
•
**We hosted a musical concert**
**which was open to all**
•
**We therefore grew our overall**
**reach across communities mainly**
**through online activities and**
**physical activities**
•
**We distributed a lot of Christian**
**literature in the form of online**
**links**| |---|---|---|---| ## **Additional information (optional)** You may choose to include further statements where relevant about: Para 1.41 Achievements against objectives set Para 1.41 Performance of fundraising activities against objectives set Para 1.41 Investment performance against objectives Other ## **Financial review** |**Financial review**||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|**The Charity raised £392,533 for the period**
**and expended £266,610**| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|**We have no reserves holding policy**| |Amount of reserves held|Para 1.22|**As at the end of the financial period we**
**had £222,977 as total funds carried**
**forward.**| |Reasons for holding zero
reserves policy|Para 1.22|**We have dedicated members who**
**regularly pay tithes and offerings that will**
**keep the Charity afloat without needing to**
**hold reserves**| |Details of fund materially in
deficit|Para 1.24|**None**| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|**The Trustees have no uncertainty**
**concerns of the charity continuing as a**
**going concern**| ## **Additional information (optional)** You may choose to include further statements where relevant about: |||| |---|---|---| |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|**Tithes and Offerings from well-known**
**members and congregants**| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|| |A description of the principal
risks facing the charity|Para 1.46|| Other ## **Structure, governance and management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document:
for example,trust deed,
memorandum and articles of
association etc|Para 1.25|**Memorandum and Articles of Association**| |How is the charity
constituted?
for example limited company,
unincorporated association,
CIO|Para 1.25|**Limited Company**| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|**Trustees are elected and voted for by the**
**whole church. At the annual general**
**meeting all Trustees retired but were**
**available for re-election and were re-**
**elected. In subsequent years a third of**
**the Trustees will retire by rotation but can**
**be nominated for re-election**| |||| ## **Additional information (optional)** You may choose to include further statements where relevant about: Para 1.51 Policies and procedures adopted for the induction and training of trustees Para 1.51 The charity’s organisational structure and any wider network with which the charity works Para 1.51 Relationship with any related parties Other ## **Reference and administrative details** |Charity name|**Spoken Word Ministries Limited**| |---|---| |Other name the charity uses|| |Registered charitynumber|**1172141**| |Charity’s principal address|**168C Brooker Road, Waltham Abbey, EN9 1JH**| ## **Names of the charity trustees who manage the charity** |1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for**
**whole year**|**Name of person (or**
**body) entitled to**
**appoint trustee (if**
**any)**| |---|---|---|---|---| ||Virimayi Mtoko|||| ||David Andrews|||| ||Shepherd Tambayi|||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| – Corporate trustees names of the directors at the date the report was approved ## **Director name** Name of trustees holding title to property belonging to the charity **Trustee name Dates acted if not for whole year** ## **Funds held as custodian trustees on behalf of others** Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets ## **Additional information (optional)** ## **Names and addresses of advisers (optional information)** |**Names and addresses of advisers (optional information)**|**Names and addresses of advisers (optional information)**|**Names and addresses of advisers (optional information)**| |---|---|---| |**Type of**
**adviser**
**Name**
**Address**||| |||| |||| |||| |||| |**Name of chief executive or names of senior staff members (optional information)**||| |||| ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details ## **Other optional information** ## **Declarations** **The company has taken advantage of the small companies’ exemption in preparing the report above.** **The trustees declare that they have approved the trustees’ report (including directors’ report) above.** **Signed on behalf of the charity’s trustees/directors** |**Signature(s)**
**Full name(s)**
**Position (for example**
**Secretary, Chair, etc)**
**Date**||| |---|---|---| ||
**Virimayi Mtoko**|**David Andrews**| ||

**Director/Trustee**|**Director/Trustee**| ||
**21/04/2022**|| ||
**21/04/2022**|| ## **Registration Number: 8583808** ## **SPOKEN WORD MINISTRIES LIMITED** ## **ACCOUNTS** ## **FOR THE YEAR ENDED 30 JUNE 2022** 1 ## **SPOKEN WORD MINISTRIES** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **TO THE YEAR ENDING 30 JUNE 2022** |**Notes**
**INCOMING RESOURCES**
Incoming Resources From Generated Funds
Voluntary Income
2
Rental Income
Loans Repaid
Activities Generating Funds
**Total Incoming Resources**
**RESOURCES EXPENDED**
Rentals
3
Ministerial Grants
Grants To Members In Need
Equipment Purchases
Ordinary Expenses
7
Missionary Trips
Missionary Donations
9
**Total Resources Expended**
Depreciation + Amortisation
**Net Incoming / (Outgoing) Resources**
**Total Funds B/Fwd From Prior Year**
**Prior years fund adjustment**
**Total Funds C/Fwd**|**Unrestricted**
**Funds(£)**
**Restricted**
**Funds(£)**
**Total**
**2022(£)**
**Total**
**2021(£)**
392,553
-
392,553
371,081
-
-
-
-
-
-
-
-
-
**392,553**
**-**
**392,553**
**371,081**
91,330
91,330
98,377
39,500
39,500
39,500
10,037
10,037
11,544
-
-
-
30,632
30,632
28,634
9,565
9,565
-
85,546
85,546
56,862
**266,610**
**266,610**
**234,917**
39,575
39,575
82,075
306,185
306,185
316,992
**86,368**
**86,368**
**54,089**
136,609
136,609
82,521
-
-
**222,977**
**222,977**
**136,609**|**Unrestricted**
**Funds(£)**
**Restricted**
**Funds(£)**
**Total**
**2022(£)**
**Total**
**2021(£)**
392,553
-
392,553
371,081
-
-
-
-
-
-
-
-
-
**392,553**
**-**
**392,553**
**371,081**
91,330
91,330
98,377
39,500
39,500
39,500
10,037
10,037
11,544
-
-
-
30,632
30,632
28,634
9,565
9,565
-
85,546
85,546
56,862
**266,610**
**266,610**
**234,917**
39,575
39,575
82,075
306,185
306,185
316,992
**86,368**
**86,368**
**54,089**
136,609
136,609
82,521
-
-
**222,977**
**222,977**
**136,609**| |---|---|---| |||**392,553**
**371,081**| |||91,330
98,377
39,500
39,500
10,037
11,544
-
-
30,632
28,634
9,565
-
85,546
56,862| |||**266,610**
**234,917**
39,575
82,075| |||306,185
316,992| |||**86,368**
**54,089**
136,609
82,521
-
-| |||**222,977**
**136,609**| 2 ## **SPOKEN WORD MINISTRIES** ## **BALANCE SHEET** ## **AS AT 30 JUNE 2022** |**Notes**
**FIXED ASSETS**
Auditorium Works
11
Tangible Assets
10
Non Current Assets
**CURRENT ASSETS**
Investments
Bank and Cash Balances
**CURRENT LIABILITIES**
Creditors Payable Within 1 Year
**NET CURRENT ASSETS**
**NON CURRENT LIABILITIES**
Creditors Payable After 1 Year
**TOTAL NET ASSETS**
**THE FUNDS OF THE MINISTRY**
Unrestricted Income Funds
Restricted Income Funds|**Unrestricted**
**Funds (£)**
**Restricted**
**Funds (£)**
96,000
34,300
130,300
100,075
22,602
5,000
117,677
25,000
**222,977**
222,977
**222,977**|
**Total**
**2022(£)**
96,000
34,300
130,300
100,075
22,602
5,000
117,677
25,000
**222,977**
222,977
-
**222,977**|**Total**
**2021(£)**
108,000
42,875
150,875
21,045
13,689
5,000
29,734
44,000| |---|---|---|---| ||||**136,609**| ||||136,609
-| ||||**136,609**| |**Approved By The Director / Trustee Virimayi Mtoko**|**Signed__________________**| |---|---| |**Date. 14/03/2023**|| 3 ## **THE SPOKEN WORD MINISTRIES LIMITED** # **Balance Sheet (continued)** ## **Director’s statements required by Sections 475(2) and (3) For the period ended 30 June 2022** In approving these financial statements as director of the company I hereby confirm: (a) For the year ending 30/06/2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to small companies. (b) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476. - (c) i. The directors acknowledge their responsibilities for complying with requirements of the Act with respect to accounting records and preparation of accounts: ii. The accounts give a fair view of the state of affairs of the company as at the end of the financial year in accordance with section 393. (d) These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Director on 14[th] March 2023 and signed on its behalf by ....................... **V.Mtoko Esq. Director/Trustee** ## **Date. 14/03/2023** ## **Registration Number 8583808** **The notes on pages 3 to 6 form an integral part of these financial statements** 4 ## **THE SPOKEN WORD MINISTRIES LIMITED** ## **NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2022** ## 1 **ACCOUNTING POLICIES** ## 1a **Basis of Accounting** The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005) issued by the Charity Commission. The accruals basis of accounting has been adopted, and the principal accounting policies set out below are applied consistently. ## 1b **Fund Accounting** Unrestricted funds are available for use at the discretion of the Ministry in furtherance of its NOT for profit objectives. Restricted funds where received, are subjected to restrictions on their expenditure imposed by the donor, or contained in the terms of a grant. ## 1c **Tangible Fixed Assets** **Leasehold property:** The Ministry has a leasehold over 10 years. **Equipment:** Depreciation is provided at the following annual rates calculated to write off assets over their estimated useful lives: Furniture 10% straight line (over 10 years) Equipment (including PA items) 20% straight line (over 5 years) Cars 25% straight line (over 4 years) ## 1d **Incoming Resources** All voluntary giving is included in the financial statements for the period in which it is received. Donations under Gift Aid plus the associated tax recovery are recognised as income when the donation is received. For now the Ministry does not receive any Gift Aid and associated donations. Legacies are accounted for when their receipt is certain and can be properly quantified. All other income is generally recognised when it is receivable. ## 1e **Resources Expended** Resources expended are recognised in the period to which they are incurred and include attributable VAT which cannot be recovered. They are allocated to the particular activity to which they relate. Governance costs represent direct expenditure on the governance of the church, including the production of these financial statements. As most of the management and activity of the church is carried out by volunteers, this intangible cost is not included in the financial statements as this voluntary contribution to the life of the Ministry is incalculable. ## 1f **Taxation** As registered NOT for profit organisation, Spoken Word Ministries Limited is an excepted organisation within the meaning of the Taxes Acts. Accordingly it is potentially exempt from taxation in respect of income and capital gains received to the extent that such income or gains are applied to exclusively charitable purposes. No provision for taxation has been made in these financial statements. ## **2 Voluntary Income** The Ministry receives free will tithes and free will offerings from its members on a regular basis. ## **3 Rental of Places for Worship** This relates to the rentals paid towards the places of worship and others used by the ministry 5 ## **4 Lease Option Costs** There were no costs towards any lease options ## **5 Ministerial Transport Costs** The Ministry hires out cars for the Ministers to help them execute their work which involves extensive travel to Minister both in gatherings and in homes of members. For this period there were no ministerial transport costs. ## **6 Member’s in Need Grants** These are helping grants given to members of the Church who will be going through a difficult time financially or will have been faced by an emergency like a funeral which they cannot fund on their own. The members in need are assessed by a Deacon Board and the recommendation given for their assistance to the Pastor or Trustees/Treasurer for payment. For the period there were no grants given to any members in need. ## **7 Ordinary Expenses** These relate to operational expenses that we meet like costs for special events, repairs, cash purchases, fuel expenses for errands etc. ## **8 Missionary Trips** These relate to overseas trips on missionary work by groups of the Ministry or by the Pastor and a few members of the Ministry. ## **9 Missionary Donations** These relate to donations given by the Ministry to support other Ministries world over at the discretion of the Trustees and Pastor. ## **10 Tangible Assets** |**Cost**
Cost
Additions
Disposals
At 30 June 2022
**Depreciation**
At 1 July 2021
Charge for the year
At 30 June 2022
**Net Book Value**
At 30 June 2022
At 1 July 2021|**PA & Video**
**Equipment**
**Auditorium Chairs**
**& Pulpit**
**Vehicles**
**Total**
13,685
85,750
-
99,435
-
-
-
-
-
-
-
-| |---|---| ||13,685
85,750
-
99,435| ||13,685
42,875
-
56,560
-
8,575
-
8,575| ||13,685
51,450
-
65,135| ||**-**
**34,300**
**-**
**34,300**| ||-
42,875
-
42,875| 6 ## **11 Auditorium Works** Relates to building work done to adopt the auditorium and is being amortised over the lease period of 10 years. |**Refurbishment Amortisation**|**Refurbishment Amortisation**| |---|---| |Capitalised Asset Cost|120,000| |Yearly Amortisation|12,000| |Actual Amortisation|12,000| |**Balance**|**96,000**| 7 CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the trustaesl membern of Spoken Word Ministries Limited On accounts for the year ended 30 June 2022 Charfty no (If any) 1172141 Sat out on pages I report to the trustees on my examination of the a¢￿Unts of the above Chanty ('tPe Trust.) for the year ended 3010612022. R•8ponslbllllle8 and As the chanty trustees of the Tru8t, you are responsible for the preparation basls of report of the accounts in accordance wrth the requirements of the Charities Act 2011 (Ihe Acr). I report in respect of my examination of the Trust's account8 carried out under section 145 of the 2011 Act and in caffying out my examination, I have foll0v￿ the applicable Directions given by the Charity Commission under section 145{5)(bl of the Act. I have completed my examination. I confimi that no material matters have come to my attention in connedion with the examination which gives me cause to believe that in. any material respect: accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord wilh the accounting records Independent examinerf8 Statsment I have no concems and have come across no other matters in connection wrth the examination to which attention should be drawn in order lo enable a proper understanding of the accounts to be reached. Slgned: Dat•: 06 June 2023 N•m•: Nana Opoku Barfi Relevant professlonal qualifl¢atlon(s) or body (If any): 1. Member - Association of Charity Independ8nt Examiner8 IMCIE) 2. Fellow - Association of Certified Public Accountants {FCPA) Addr•88: 21 Loughborough Drive Broughton Milton Keynes, MK10 7DZ Section B Disclosure Only complete rf the examiner needs to highlight matters of concem (see CC32, Independent examination of chanty accounts: directions and guidance for examiners}. IER October 2018 Give here brlèf detsils of any items that the examiner wishes to disclose. IER October 2018