## **REGISTERED COMPANY NUMBER:10143412**
**Report of the Trustees and Financial Statement for the Period Ended 30 June 2024**
## **For**
## **LIVING WORD MINISTRY (HULL)**
1
## **Living Word Ministry (Hull) Contents of the Financial Statement for the Period Ended 30 June 2024**
||**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|
2
## **Living Word Ministry (Hull) Report of the Trustees For the Period Ended 30 June 2024**
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**
103 Walton Street Hull HU3 6JG
## **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
3
## **Living Word Ministry (Hull)**
## **Report of the Trustees For the Period Ended 30 June 2024**
## **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 : 31 March 2025
4
## **Independent Examiner’s Report to Trustees of Living Word Ministry (Hull)**
I report on the accounts for the period ended 30 June 2024 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
5
## **Living Word Ministry (Hull)**
## **Income and Expenditure Accounts for the Year Ended 30 June 2024**
|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 Resouces Expended
Net Incoming Resources
Total Funds Brought forward
Total Carried Forward|Unrestricted
Funds
Restricted
Funds
Total
Funds
2023
£
£
£
46,716
46,716
16,836
16,836
63,552
-
63,552
27,456
27,456
12,702
12,702
8,984
8,984
49,142
-
49,142
14,410
14,410
45,948
45,948|Total
Funds
2023
£
28,597
13,439|
|---|---|---|
|||42,036|
|||26,780
8,771
6,447|
|||41,998|
|||38
45,910|
||60,358
-
60,860|45,948|
6
## **Living Word Ministry (Hull) Statement of Financial Position as at 30 June 2024**
||Notes
Non Current Asset
Plant, Property and Equipment
9
Current Assets
Debtors
10
Bank balance
Current Liablities
Creditors and Accruals
12
Net Assets
Non Current Liability
Mortgage
13
Loans
Reserves
14|2024
£
145,836
7,064
2,732
2,000
2,000
153,632
75,574
17,700
60,358
153,632|2023
£
138,464
3,719
1,445
1,500|
|---|---|---|---|
|||||
|||||
||||1,500|
|||||
||||142,128|
||||78,480
17,700
45,948|
|||||
||||142,128|
7
## **Living Word Ministry (Hull)**
## **Notes to the Financial Statements for the Year Ended 30 June 2024**
|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
Repairs
6. Other Resources Expended
Depreciation:
Computer Equipment
Land and Buildings|2024
£
46,716
5,940
10,896
16,836
6,235
3,900
1,800
11,938
3,583
27,456
350
2,543
1,092
1,211
2,806
766
1,300
500
-
2,134
12,702
£
2,602
2,778
5,380|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
392|
|||8,514|
|||£
3,669
2,778|
|||6,447|
7. Trustee Remuneration Benefits
There were no trustees' remuneration or other benefits for the year ended 30th June 2024
8
## **Living Word Ministry (Hull)**
## **Notes to the Financial Statements for the Year Ended 30 June 2024**
|8. Staff Costs
Wages and Salaries
9. Tangible Fixed Assets
Cost at 1/7/2023
Additions
Depreciation
At 1 July 2023
Charge for the Year
At 30 June 2024
At 30 June 2024
At 30 June 2023
10. Debtors: Amount Falling within 1yr
Other Debtors
11. Creditors :Amount Falling Due 1 yr
Accrued Water bills
Hull Fair (advance Payment)|2024
£
0
Church
Equipment
Building
£
29,419
138,885
16,356|2023
£
0
Totals
£
168,304
16,356|
|---|---|---|
||45,775
138,885|184,660|
||14,745
15,095
6,206
2,778|29,840
8,984|
||20,951
17,873|38,824|
||£24,824
£121,012
£4,998
£123,790
2024
7,064
7,064
2024
£
1,000
1,000
2,000|£145,836
£128,788
2023
3,719|
|||3,719|
|||2023
£
500
1,000|
|||1,500|
**Living Word Ministry (Hull)**
9
## **Notes to the Financial Statements for the Year Ended 30 June 2024**
|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|£
17,700
75,572
93,272
Incoming
Resources
Resources
Expended
£
£
63,552
49,142
2024
£
45,948
14,410
60,358|£
17,700
78,480|
|---|---|---|
|||96,180|
|||Movement
in Funds
£
14,410
2023
£
45,910
38|
|||45,948|
## **Living Word Ministry (Hull)**
10
## **Notes to the Financial Statements for the Period Ended 30 June 2024**
## **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.
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