REGISTERED COMPANY NUMBER:10143412
Report of the Trustees and Financial Statement for the Period Ended 30 June 2022
For
LIVING WORD MINISTRY (HULL)
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Living Word Ministry (Hull) Contents of the Financial Statement For the Period Ended 30 June 2022
| Page | |
|---|---|
| Report of the Trustees | 3--4 |
| Independent Examiner’s Report | 5 |
| Income Statement | 6 |
| Statement of Financial Statement | 7 |
| Notes to the Financial Statements |
8-11 |
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Living Word Ministry (Hull) Report of the Trustees For the Period Ended 30 June 2022
The trustees present their report with the financial statements of the charity for the year period 30 June 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ‘ Accounting and Reporting by Charities issued in March 2005.
Reference and Administrative Details
Company Number
10143412
Principal Address
145 De La Pole Avenue Hull HU3 6RD
Independent Examiner
Emmanuel Ayittey Armah FCCA MBA BSC Chartered Accountant 14 Langford Avenue Hull HU4 7SR
Structure, Governance and Management
Governing Document
The Charity is controlled by its govening document, a deed of trust and constitutes an unincorporated charity.
Risk Management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fruad and error
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Living Word Ministry (Hull) Report of the Trustees For the Period Ended 30 June 2022
Statement of Trustees Responsibilities
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards(United Kingdom Generally Accepted Accounting Practice)
The law applicable to charities in England and Wales, the Charities Act 1993, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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, including the income and expenditure of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently
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observe the methods and principle in the Charity SORP
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make judgements and estimates that are reasonable and prudent
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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 which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 1993, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
ON BEHALF OF THE BOARD
Abena Djabang
......................................................... Signature
Abena Djabang .......................................................... Name of Trustee
Date : 30 March 2023
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Independent Examiner’s Report to Trustees of Living Word Ministry (Hull)
I report on the accounts for the period ended 30 June 2022 set out on pages four to eight
Respective responsibilities 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 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is required
It is my responsibility to
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examine the accounts under Section 43 of the 1993 Act
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to follow the procedures laid down in the General Directions given by the Charity Commission(under Section 43(7)(b) of the 1993 Act); and
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to state whether particular matters have come to my attention
Basis of the independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes the review of the accounting records kept by the charity and comparison of the accounts presented with those records.It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently 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 statements below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that , in any material respect, the requirements
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to keep accounting records in accordance with Section 41 of the 1993 Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 1993 Act.
have not been met; or
(2) to which in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Emmanuel Ayittey Armah FCCA MBA BSC Chartered Accountant 14 Langford Avenue Hull HU4 7SR
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Living Word Ministry (Hull) Income and Expenditure Accounts for the Year Ended 30 June 2022
| Notes Incoming Resources Voluntary Income 2 Other Income 3 Total Incoming Resources Resources Expended Charitable Activities 4 Governance Cost 5 Other Resources Expended 6 Total Resources Expended Net Incoming Resources Total Funds Brought forward Total Carried Forward |
Unrestricted Funds Restricted Funds Total Funds 2022 £ £ £ 28,584 28,584 15,348 15,348 43,932 43,932 19,216 19,216 7,239 7,239 5,596 5,596 32,051 32,051 11,881 11,881 34,029 34,029 |
Total Funds 2021 £ 27,133 9,868 |
|---|---|---|
| 37,001 | ||
| 13,961 6,109 5,327 |
||
| 25,397 | ||
| 11,604 22,425 |
||
| 45,910 - 45,910 |
34,029 |
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Living Word Ministry (Hull) Statement of Financial Position as at 30 June 2022
| Notes Non-Current Asset Plant, Property and Equipment 9 Current Assets Debtors 10 Bank balance Current Liabilities Bank Balance Creditors and Accruals 12 Net Assets Non-Current Liability Mortgage 13 Loans Reserves 14 |
2022 £ 138,112 3,721 299 - 1,500 1,500 140,632 81,522 13,200 45,910 140,632 |
2021 £ 134,344 3,721 - 2,861 1,500 |
|
|---|---|---|---|
| 4,361 | |||
| 133,704 | |||
| 85,175 14,500 34,029 |
|||
| 133,704 |
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Living Word Ministry (Hull)
Income and Expenditure Accounts for the Year Ended 30 June 2022
| Notes Incoming Resources Voluntary Income 2 Other Income 3 Total Incoming Resources Resources Expended Charitable Activities 4 Governance Cost 5 Other Resources Expended 6 Total Resources Expended Net Incoming Resources Total Funds Brought forward Total Carried Forward |
Unrestricted Funds Restricted Funds Total Funds 2022 £ £ £ 28,584 28,584 15,848 15,848 44,432 44,432 19,216 19,216 7,739 7,739 5,596 5,596 32,551 32,551 11,881 11,881 34,029 34,029 |
Total Funds 2021 £ 27,133 9,868 |
|---|---|---|
| 37,001 | ||
| 13,961 6,109 5,327 |
||
| 25,397 | ||
| 11,604 22,425 |
||
| 45,910 - 45,910 |
34,029 |
There were no trustees' remuneration or other benefits for the year ended 30th June 2020
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Living Word Ministry (Hull) Statement of Financial Position as at 30 June 2022
| Notes Non-Current Asset Plant, Property and Equipment 9 Current Assets Debtors 10 Bank balance Current Liabilities Bank Balance Creditors and Accruals 12 Net Assets Non-Current Liability Mortgage 13 Loans Reserves 14 |
2022 £ 138,112 3,721 299 - 1,500 1,500 140,632 81,522 13,200 45,910 140,632 |
2021 £ 134,344 3,721 - 2,861 1,500 |
|
|---|---|---|---|
| 4,361 | |||
| 133,704 | |||
| 85,175 14,500 34,029 |
|||
| 133,704 |
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Living Word Ministry (Hull)
Notes to the Financial Statements for the Year Ended 30 June 2022
| 2. Voluntary Income Tithes and offering 3. Other Income Rental Income Gift Aid Receivable Hull Fair 4. Charitable Activities Cost Mortage interest Donation-Welfare Volunteer Expenses Evangelism Hospitality 5. Governance cost Printing and Stationery General Expenses Transport and Travelling Building Insurance Energy Internet Legal and Professional Water Card Machine and Bank Charges 6. Other Resources Expended Depreciation: Computer Equipment Land and Buildings |
2022 £ 28,584 3,060 7,288 5,500 15,848 3,848 3,300 1,800 8,225 2,043 19,216 106 1,500 1,164 958 1,510 543 500 642 816 7,739 £ 2,818 2,778 5,596 |
2021 £ 27,133 2,870 6,998 - |
|---|---|---|
| 9,868 | ||
| 3,920 1,800 1,800 5,450 991 |
||
| 13,961 | ||
| 195 845 499 897 1,344 606 500 500 723 |
||
| 6,109 | ||
| £ 1,249 4,078 |
||
| 5,327 |
- Trustee Remuneration Benefits
There were no trustees' remuneration or other benefits for the year ended 30th June 2022
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Living Word Ministry (Hull)
Notes to the Financial Statements for the Year Ended 30 June 2022
| 8. Staff Costs Wages and Salaries 9. Tangible Fixed Assets Cost at 1/7/2021 Additions Depreciation At 1 July 2021 Charge for the Year At 30 June 2022 At 30 June 2022 At 30 June 2021 10. Debtors: Amount Falling within 1yr Other Debtors 11. Creditors: Amount Falling Due 1 yr Accrued Water bills Hull Fair (advance Payment) |
2022 £ 0 Church Equipment Building £ 13,278 138,885 9,342 |
2021 £ 0 Totals £ 152,163 9,342 |
|---|---|---|
| 22,620 138,885 |
161,505 | |
| 8,280 9,539 2,796 2,778 |
17,819 5,574 |
|
| 11,076 12,317 |
23,393 | |
| £11,544 £126,568 £4,998 £129,346 2022 3,784 3,784 2022 £ 500 1,000 1,500 |
£138,112 £134,344 2021 3,721 |
|
| 3,721 | ||
| 2021 £ 500 1,000 |
||
| 1,500 |
Living Word Ministry (Hull)
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Notes to the Financial Statements for the Year Ended 30 June 2022
| 12. Creditors: Amount Falling After 1 yr Loans Mortgage Triodos Bank Net Movement in Funds included are as follows: Unrestricted Funds 13. Reserves Balance Brought Forward Surplus for the Year |
£ 13,200 81,522 94,722 Incoming Resources Resources Expended £ £ 44,432 32,051 2021 £ 34,029 11,881 45,910 |
£ 14,500 85,175 |
|---|---|---|
| 99,675 | ||
| Movement in Funds £ 12,381 2021 £ 22,425 11,604 |
||
| 34,029 |
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Living Word Ministry (Hull) Notes to the Financial Statements for the Period Ended 30 June 2022
1.Accounting Policies
Accounting Convention
The financial statements have been prepared under the historical cost convention, the Charities Act 1993 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Financial Reporting Standard Number 1
Exemption has been taken from preparing a cash flow statement on the grounds that the charity qualifies as a small charity
Incoming Resources
All incoming resources are included on the Income and Expediture Accounts when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources Expended
Expenditure is accounted for on an accruals basis and has been classified under the headings that aggregate all cost related category. Where cost can not be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible Fixed Assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life
Church Equipment -20% on reducing balance method Buildings 2% on Cost
Taxation
The charity is exempt from tax on its charitable activities
Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.Restricted funds can only be used for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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