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2023-11-30-accounts

Charity Registration No. 1178079

Company Registration No. 09894330 (England and Wales)

John G Lake Ministries Uk & Ie Ltd

Annual report and unaudited financial statements For the year ended 30 November 2023

JOHN G LAKE MINISTRIES UK & IE LTD

LEGAL AND ADMINISTRATIVE INFORMATION

Director's Rev C Maguire Rev M Maguire Rev C Blake Rev G Eljiz Rev S I M Stjernkvist Mr L J A Stjernkvist Secretary M Maguire Charity number 1178079 Company number 09894330 Registered office The Long Barn (front) Little Baldon Oxford OX44 9PU Accountants The MHH Partnership Elstree House Watson's Yard High Street Cottenham Cambridge CB24 8RX

(Appointed 18 May 2023) (Appointed 18 May 2023)

JOHN G LAKE MINISTRIES UK & IE LTD

CONTENTS

Page
Director's report 1 - 2
Accountants' report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 12

JOHN G LAKE MINISTRIES UK & IE LTD

DIRECTOR'S REPORT

FOR THE YEAR ENDED 30 NOVEMBER 2023

The Director's present their annual report and financial statements for the year ended 30 November 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

The charity's objects include the proclamation of the Gospel with the ministry of divine healing. We conduct training seminars, minister to the sick and plant churches within the UK and in The Republic of Ireland and occasionally, when invited, within Europe. There has been no change in these during the year.

The Director's have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Financial review

Principal Funding Sources

Investment Policy & Objectives

Apart from retaining a small amount in reserves each year where funding allows; most of the charity’s funds are to be spent in the short term so there are few funds for long term investment at this time. As the charity grows this may change.

Reserves Policy

The trustees have set a reserves policy that once funding is more established, a minimum of £300 should remain in the account to cover the charities core activities, expenditure and commitments. This figure will be increased in time as income allows.

FUTURE PLANS

The charity plans to continue to concentrate its work on sharing the gospel and ministering to the sick. We plan to develop further training seminars and resource materials, set up study groups following training seminars for a period of 3 months and aim to appoint leaders to transition study groups into life teams in their local areas. We will continue to do more work to secure finances to ensure the charity is sustainable in the long term.

The Director's have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a charitable company limited by guarantee and was set up by a Memorandum of Association on 30 November 2015. The company received charitable status on 24 April 2018 The charity is constituted under a special resolution to amend the Memorandum of Association dated 9 April 2018 reflecting this change at Companies House. Whilst the company did not receive Charity status until 24 April 2018, the accounts have been prepared on the basis that the company had charitable status for the entire year.

The Director's, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Rev C Maguire Rev M Maguire Rev C Blake R Clementson (Resigned 1 April 2023) Rev G Eljiz Rev S I M Stjernkvist (Appointed 18 May 2023) Mr L J A Stjernkvist (Appointed 18 May 2023)

JOHN G LAKE MINISTRIES UK & IE LTD

DIRECTOR'S REPORT

FOR THE YEAR ENDED 30 NOVEMBER 2023

The Director's report was approved by the Board of Director's.

.............................. Rev M Maguire Director Dated: .........................28.08.2024

JOHN G LAKE MINISTRIES UK & IE LTD

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR'S ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JOHN G LAKE MINISTRIES UK & IE LTD FOR THE YEAR ENDED 30 NOVEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of John G Lake Ministries UK & IE Ltd for the year ended 30 November 2023, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rulesand-standards/rulebook.html.

This report is made to the charity's Director's, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of John G Lake Ministries UK & IE Ltd and state those matters that we have agreed to state to the charity's Director's, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https:// www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than John G Lake Ministries UK & IE Ltd and the charity's Director's as a body, for our work or for this report.

It is your duty to ensure that John G Lake Ministries UK & IE Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of John G Lake Ministries UK & IE Ltd. You consider that John G Lake Ministries UK & IE Ltd is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of John G Lake Ministries UK & IE Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The MHH Partnership

28 August 2024

.........................

Chartered Certified Accountants

Elstree House Watson's Yard High Street Cottenham Cambridge CB24 8RX

JOHN G LAKE MINISTRIES UK & IE LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 NOVEMBER 2023

Unrestricted Unrestricted
funds funds
2023 2022
Notes £ £
Income from:
Donations and legacies 3 51,174 24,621
Charitable activities 4 22,864 637
Total income 74,038 25,258
Expenditure on:
Raising funds 5 1,241 1,809
Charitable activities 6 79,863 35,458
Total expenditure 81,104 37,267
Net expenditure and movement in funds (7,066) (12,009)
Reconciliation of funds:
Fund balances at 1 December 2022 8,520 20,529
Fund balances at 30 November 2023 1,454 8,520

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

JOHN G LAKE MINISTRIES UK & IE LTD

BALANCE SHEET

AS AT 30 NOVEMBER 2023

2023
Notes
£
Fixed assets
Tangible assets
12
Current assets
Cash at bank and in hand
620
Creditors: amounts falling due within one
year
13
(1,600)
Net current (liabilities)/assets
Total assets less current liabilities
Net assets excluding pension liability		 2023
Notes
£
Fixed assets
Tangible assets
12
Current assets
Cash at bank and in hand
620
Creditors: amounts falling due within one
year
13
(1,600)
Net current (liabilities)/assets
Total assets less current liabilities
Net assets excluding pension liability		 £
2,434
(980)
1,454
1,454
1,454
1,454		 £
2,434
(980)
1,454
1,454
1,454
1,454		 2022
£
6,528
(900)		 £
2,892
5,628
8,520
8,520
8,520
The funds of the charity
Unrestricted funds
8,520

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements 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's on .........................28.08.3024

.............................. Rev C Maguire Director

Company registration number 09894330 (England and Wales)

JOHN G LAKE MINISTRIES UK & IE LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

1 Accounting policies

Charity information

John G Lake Ministries UK & IE Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is The Long Barn (front), Little Baldon, Oxford, OX44 9PU.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's memorandum and articles, the Companies Act 2006 and "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 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Director's have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Director's continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Director's in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

JOHN G LAKE MINISTRIES UK & IE LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

1 Accounting policies

(Continued)

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 25 % Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.6 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

JOHN G LAKE MINISTRIES UK & IE LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Director's are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
funds
2023
£
Donations and gifts
48,199
Partners
2,975
51,174		 Total
2022
£
22,601
2,020
24,621

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Heading #ac989
Sales 22,864 637
Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Trading costs
Other trading activities 1,241 1,809

5 Expenditure on raising funds

JOHN G LAKE MINISTRIES UK & IE LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

6 Expenditure on charitable activities

Heading Heading
#ac983 #ac983
2023 2022
£ £
Direct costs
Depreciation and impairment 608 723
Share of support and governance costs (see note 7)
Support 77,715 33,055
Governance 1,540 1,680
79,863 35,458
Analysis by fund
Unrestricted funds 79,863 35,458

JOHN G LAKE MINISTRIES UK & IE LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

7
Support costs
Support costs
Governance
costs
£
£
Temporary staff
-
-
Royalties payable
-
-
Venue hire
30,909
-
Computer and software costs
3,906
-
Travelling expenses
21,748
-
Postage, printing and stationary
4,428
-
Advertising
8
-
Telecommunications
4,936
-
Other sundry expenses
11,779
-
Accountancy costs
-
1,540
77,714
1,540
Analysed between
Charitable activities
77,715
1,540		 2023 Support costs Governance
costs
£
£
£
-
1,350
-
-
841
-
30,909
3,116
-
3,906
3,040
-
21,748
5,646
-
4,428
1,479
-
8
767
-
4,936
4,466
-
11,779
12,349
-
1,540
-
1,680
79,254
33,054
1,680
79,255
33,055
1,680		 2022
Basis of allocation
£
1,350
841
3,116
3,040
5,646
1,479
767
4,466
12,349
1,680
Governance
34,734
34,737

JOHN G LAKE MINISTRIES UK & IE LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2023

8 Net movement in funds 2023 2022
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets 608 723

9 Director's

During the year, none of the trustees received remuneration for their services performed in support of the charity.

10 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2023 2022
Number Number
Total - -
There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Tangible fixed assets

Tangible fixed assets
Plant and
equipment
£
Cost
At 1 December 2022 5,499
Additions 150
At 30 November 2023 5,649
Depreciation and impairment
At 1 December 2022 2,607
Depreciation charged in the year 608
At 30 November 2023 3,215
Carrying amount
At 30 November 2023 2,434
At 30 November 2022 2,892

JOHN G LAKE MINISTRIES UK & IE LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

12 Tangible fixed assets

(Continued)

13 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2023 2022
£ £
Accruals and deferred income 1,600 900

14 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 December Incoming Resources At 30
2022 resources expended November 2023
£ £ £ £
General funds 8,520 74,038 (81,104) 1,454
Previous year: At 1 December Incoming Resources At 30
2021 resources expended November 2022
£ £ £ £
General funds 20,529 25,258 (37,267) 8,520

15 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).