2023-06-30-accounts - Living Word Ministry (Hull)

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REGISTERED COMPANY NUMBER:10143412

Report of the Trustees and Financial Statement for the Period Ended 30 June 2023

For

LIVING WORD MINISTRY (HULL)

Living Word Ministry (Hull) Contents of the Financial Statement For the Period Ended 30 June 2023

	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

Living Word Ministry (Hull) Report of the Trustees For the Period Ended 30 June 2023

The trustees present their report with the financial statements of the charity for the year period 30 June 2023. 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

Living Word Ministry (Hull)

Report of the Trustees For the Period Ended 30 June 2023

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 2011, Charity (Accounts and Reports) Regulations 2011 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

select suitable accounting policies and then apply them consistently
observe the methods and principle in the Charity SORP
make judgements and estimates that are reasonable and prudent
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 2011, 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 : 25 March 2024

Independent Examiner’s Report to Trustees of Living Word Ministry (Hull)

I report on the accounts for the period ended 30 June 2023 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 144 of the Charities Act 2011 (the Act) and that an independent examination is required

It is my responsibility to

examine the accounts under Section 145 of the the Charities Act
to follow the procedures laid down in the General Directions given by the Charity Commission(under Section 145 (5)(b) of the Charities Act); and
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

to keep accounting records in accordance with Section 130 of the Charities Act; and
• to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 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

Living Word Ministry (Hull) Income and Expenditure Accounts for the Year Ended 30 June 2023

Unrestricted Funds £ 28,597 13,439	Restricted Funds Total Funds 2023 £ £ - 28,597 - 13,432 - 42,029 - 26,780 - 8,771 - 6,447 - 41,998 - 38 - 45,910	Total Funds 2022 £ 28,584 15,848
42,036		44,432
26,780 8,771 6,447		19,216 7,739 5,596
41,998		32,551
38 45,910		11,881 34,029
45,948	- 45,948	45,910

Living Word Ministry (Hull) Statement of Financial Position as at 30 June 2023

	Notes Non-Current Asset Plant, Property and Equipment 9 Current Assets Debtors 10 Bank balance Current Liabilities Creditors and Accruals 12 Net Assets Non-Current Liability Mortgage 13 Loans Reserves 14	2023 £ 138,464 3,719 1,445 1,500 1,500 142,128 78,480 17,700 45,948 142,128	2022 £ 138,112 3,721 299 1,500


			1,500

			140,632
			81,522 13,200 45,910

			140,632

Living Word Ministry (Hull)

Notes to the Financial Statements for the Year Ended 30 June 2023

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	2023 £ 28,597 1,110 6,829 5,500 13,439 5,733 3,500 1,800 11,729 4,018 26,780 211 1,635 1,668 1,091 1,704 724 500 589 649 8,771 £ 3,669 2,778 6,447	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

Trustee Remuneration Benefits

There were no trustees' remuneration or other benefits for the year ended 30th June 2023

Living Word Ministry (Hull)

Notes to the Financial Statements for the Year Ended 30 June 2023

2023 £ 0 Church Equipment £ 22,620 6,799	Building 138,885	2022 £ 0 Totals £ 161,505 6,799
29,419	138,885	168,304
11,076 3,669	12,317 2,778	23,393 6,447
14,745	15,095	29,840
£14,674 £4,998 2023 3,719	£123,790 £126,568	£138,464 £131,566 2022 3,784
3,719		3,784
2023 £ 500 1,000		2022 £ 500 1,000
1,500		1,500

Living Word Ministry (Hull)

Notes to the Financial Statements for the Year Ended 30 June 2023

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	£ 12,700 78,480 91,180 Incoming Resources Resources Expended £ £ 42,036 41,998 2023 £ 45,910 38 45,948	£ 13,200 81,522
		94,722
		Movement in Funds £ 38 2022 £ 34,029 11,881
		45,910

Living Word Ministry (Hull) Notes to the Financial Statements for the Period Ended 30 June 2023

1.Accounting Policies

Accounting Convention

The financial statements have been prepared under the historical cost convention, the Charities Act 2011 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.