Registered number 1173439
LIGHT OF JOY CHURCH
Report and Accounts
30 June 2023
LIGHT OF JOY CHURCH Report and accounts Contents
| Page | |
|---|---|
| Administrative information | 1 |
| Directors' report | 2 - 4 |
| Statement of Financial Activities | 6 |
| Balance sheet | 7 |
| Notes to the Financial Statements | 8 - 10 |
| (inclusive of detailed Income & Expenditure) |
LIGHT OF JOY CHURCH Company Information
TRUSTEES
ABIBAT OMOBOLAJI SOWUNMI OLAYINKA ADESILU CHRIS OGUNLANA
Accountants
Lemo Corporate 815 Old Kent road, London, SE15 1NX.
Bankers
NATWEST
Registered office
20 INGRAVE STREET LONDON SW11 2SA
Registered number 1173439
1
LIGHT OF JOY CHURCH Trustees' Report
The board of trustees are pleased to present our report and accounts for the period ended 30 June 2023
Light Of Joy Church is a Christian religious organisation (where everyone is born and empowered to reign)
The vision statement of the church is as follows:
We are commssioned to ensure that everyone see Christ Jesus in His nature of loveliness and to make known through the expository teachings and preaching of the Divine Grace and the perfection of His works.
Our main aims of achieving our vision is to proclaim and spread the Gospel of Jesus Christ and to contribute to the well being of our surroundings through the execution of various community-based projects. Details of these are set out in our operational and administrative documents.
We commenced Sunday service in May 2009 in Battersea London. We conducted our week day and Sunday services from this location. By November 2009, a prayer group emerged at flat 31 Crampton House, where members gathered to worship the Lord.
Those who were present at the inauguration were of different nationalities both young and adult. In 2011, the church moved to 56A Courland grove, Clapham. We now conduct service every Sunday at St John Bosco College, Parkham Street Battersea, London SW11 3DQ
In the coming year, we are looking forward to secure our registration status as a Charity organisation with the Charity Commission in England and Wales having gone beyond the minimum income threshold required for registration. We also intend to increase the membership of the board of trustees in order to enhance the smooth operations and administration of the church. Also in the coming year, the church intends to embark on various workshops/seminars, conferences, evangelistic outreach events, leadership and prophetic training and several community-based projects.
This report was approved by the board of trustees on 2 July 2024.
FD OLADELE
MS FOLASHADE DEBORAH OLADELE Minister-In-Charge
2
LIGHT OF JOY CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIGHT OF JOY CHURCH
I report on the charity for the year ended 30 June 2023, which are set set out on pages 4 to 5. Respective resposibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. I am qualified to undertake the examination by been a qualified member of Association of Chartered Certfied Accountants.
It is my responsisblity to:
. examine the accounts under section 145 of the 2011 Act;
- . to follow the procedure laid down in the General Direction given by the Charity Commission under section 145(5)(b) of the 2011 Act; and;
.to state whether particular matters have come to my attention.
Basis of independent examiner's report
comparison of the accounts presented with those records. It also includes consideration of any unusual or
any such matters. The procedure undertaken do not provide all the evidence that would be required in an audit and, consequetly no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention
- which gives me reasonable cause to believe that, in any material respect, the requirements:
. to keep accounting records in accordance with section 130 of the 2011 Act; and
. to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met.
or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Adelani Awe
Mr. Adelani awe (FCCA, MSc) Date…02 July 2024 For and on behalf of LEMO CORPORATE
3
LIGHT OF JOY CHURCH Profit and Loss Account for the year ended 30 June 2023
| Notes Turnover Cost of sales Gross profit Administrative expenses Operating profit 2 Profit on ordinary activities before taxation Profit for the financial year |
2023 2022 £ £ 28,073 25,231 - - 28,073 25,231 (26,464) (20,794) 1,609 4,437 1,609 4,437 1,609 4,437 |
|---|---|
4
LIGHT OF JOY CHURCH
Statement of Financial Activities for the year ended 30 June 2023
| Income Resources Tithes, offerings and thanksgiving Total Income Resources Resources Expended Support costs of activities in furtherance of the charity's objects Management & Administration of Charity Total Income Expended Net incoming/(outgoing) resources Net Movements in Funds Fund balances b/fwd Funds balances c/fwd |
Notes 6.1 6.2 6.3 |
2023 Total Fund £ 28,073 28,073 12,224 11,397 23,621 4,452 4,452 15,323 19,775 |
2022 Total Fund £ 25,231 |
|---|---|---|---|
| 25,231 | |||
| 12,718 8,076 |
|||
| 20,794 | |||
| 4,437 | |||
| 4,437 10,886 |
|||
| 15,323 |
5
4.437 4,452
LIGHT OF JOY CHURCH Balance Sheet as at 30 June 2023
| Notes | 2023 | 2022 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Fixed assets | |||||
| Tangible assets | 3 | 626 | 999 | ||
| Current assets | |||||
| Debtors | 4 | - | - | ||
| Investments held as current assets | - | - | |||
| Cash at bank and in hand | 16,678 | 14,696 | |||
| 16,678 | 14,696 | ||||
| Creditors: amounts falling due | |||||
| within one year | 4 | (372) | (372) | ||
| Net current assets | 16,306 | 14,324 | |||
| Total assets less current liabilities | 16,932 | 15,323 | |||
| Creditors: amounts falling due | |||||
| after more than one year | - | - | |||
| Provisions for liabilities | - | - | |||
| Net assets | 16,932 | 15,323 | |||
| Unrestricted Funds | |||||
| Called up share capital | - | - | |||
| Share premium | - | - | |||
| Revaluation reserve | - | - | |||
| Capital redemption reserve | - | - | |||
| Unrestricted Funds | 5 | 16,932 | 15,323 | ||
| Restricted and Unrestricted Funds c/fwd. | 16,932 | 15,323 |
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
A O Sowunmi
ABIBAT OMOBOLAJI SOWUNMI Director Approved by the board on 2 July 2024
7
LIGHT OF JOY CHURCH Balance Sheet as at 30 June 2023
LIGHT OF JOY CHURCH Notes to the Accounts for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Incoming Resources
Income is mainly from grants and bank interest received are included in the financial statements when received.
Resources Expended
All expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category.
Taxation
As a charity, the charitable funds are exempt from corporation tax but not from VAT. Irrecoverable VAT is, in accordance with standard accounting practice, included in the cost of those items to which it relates.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% straight line Motor vehicles 25% straight line
| 2 Operating profit This is stated after charging: Depreciation of owned fixed assets |
£ £ 373 661 |
|---|---|
3 Tangible fixed assets
| Cost At 1 July 2022 Additions At 30 June 2023 Depreciation At 1 July 2022 Charge for the year At 30 June 2023 Net book value At 30 June 2023 At 30 June 2022 4 Creditors: amounts falling due within one year Other creditors 5 Unrestricted Funds At 1 July 2022 Unrestricted Funds for the period At 30 June 2023 |
Computers & Musical equipment £ 1,864 - 1,864 865 373 1,238 626 999 |
Motor vehicles Total £ £ - 1,864 - - - 1,864 - 865 - 373 - 1,238 - 626 - 999 £ £ - - £ £ 15,323 10,886 1,609 4,437 16,932 15,323 |
|---|---|---|
9
LIGHT OF JOY CHURCH
Notes to the accounts (continued)
6 6. Detailed Income and Expenditure Account For the year ended 31 June 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Total fund | Total fund | |||
| £ | £ | |||
| 6.1 | INCOMING RESOURCES | |||
| Thithes, offering and thanksgiving | 28,073 | 25,231 | ||
| HMRC - Gift Aid | ||||
| Total Incoming Resources | 28,073 | 25,231 | ||
| OUTGOING RESOURCES | ||||
| 6.2 | Support costs of activities in furtherance of | |||
| the Charity's objects: | ||||
| Pastoral allowances | 4,941 | 5,277 | ||
| Missionary and Evangelism | 3,399 | 1,577 | ||
| Donations & Gifts | - | - | ||
| Honorarium | 3,884 | 4,492 | ||
| Instrumentalist/music expenses | - | |||
| Printing, postage & stationery | - | - | ||
| Evangelical/outreach materials | - | 1,372 | ||
| Members' welfare and training | - | - | ||
| 12,224 | 12,718 | |||
| 6.3 | Management and Administration of Charity: | |||
| Rent of Church hall | 0 | 5,311 | ||
| Rates | 0 | |||
| Travelling and subsistence | 8,456 | 679 | ||
| Bank charges | - | - | ||
| Telephone & fax | 582 | 528 | ||
| Insurance | 855 | - | ||
| Motor expenses | 660 | - | ||
| Equipment Expensed | - | - | ||
| Repairs & Maintenance | 471 | 573 | ||
| Sundry expenses | - | - | ||
| Website designs and maintenance | - | - | ||
| Postage and Carriage | - | 50 | ||
| Depreciation charge | 373 | 123 | ||
| Accountancy fees | - | 300 | ||
| Advertising and PR | 10 | - | - | |
| Other legal and professional | 0 | 512 |
11,397 8,076
120,7941
LIGHT OF JOY CHURCH Profit and Loss Account for the year ended 30 June 2023
for the information of the directors only
| Sales Administrative expenses Operating profit Profit before tax |
2023 2022 £ £ 28,073 25,231 (26,464) (20,794) 1,609 4,437 1,609 4,437 |
|---|---|
14
LIGHT OF JOY CHURCH Schedule to the Profit and Loss Account for the year ended 30 June 2023
for the information of the directors only
| Sales Tithes, offerings & thanksgiving Administrative expenses Employee costs: Pastoral allowances Members' training and welfare Travel and subsistence Motor expenses Premises costs: Rent Charity & Donations General administrative expenses: Telephone and fax Stationery and printing Donations and welfare Bank charges Insurance Equipment Expensed Repairs & Maintenance Website designs and maintenance Depreciation Sundry expenses Legal and professional costs: Accountancy fees |
2023 2022 £ £ 28,073 25,231 4,941 5,277 - - 8,456 679 660 - 21,340 12,025 - 5,311 - - - 5,311 582 528 - - 2,843 - - - 855 - - - 471 573 - - 373 123 - - 5,124 2,646 - 300 - 812 26,464 20,794 |
|---|---|
15