Trustees’ Annual Report for the period
From 1[st] January 2022 To 31[st] December 2022
Charity name: Lordsway Foundation
Charity registration number: 1183127
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | To advance the Christian faith for the benefit of the public in accordance with the Statements of Beliefs mainly, but not exclusively through the provision of facilities for Christian training and service and the provision of assistance to the wider Christian church in its ministries in such parts of Africa and the world as the Trustees may from time to time think fit andto fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the charity. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
The main activities are the support and encouragement of local churches and their leadership mainly through the ministry of Lordsway Ministries International, a Zambian registered church organisation. We provide financial support to enable the trans local ministry and visitation of churches that would otherwise not be possible. We provide financial and practical assitance to pastors whoe local churches are not financially strong enough to bee able to sustain their support, thus enabling them to focus on their work and the growth of their church rather than just survival. We resource mission trips to different areas, and inititives designed to encourage and stregnthen leadership at alll levels. We host pastors retreats, aimed at those carrying overalll responsibility ofr their churches, providing, teaching, training, encouragement and refreshment. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The trustees have had regard to the Charity Commission guidance on public benefit. |
Additional information (optional)
| Additional information (optional) | Additional information (optional) | Additional information (optional) |
|---|---|---|
| You may choose to include further statements where relevant about: | ||
| SORP reference |
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| Policy on grant making | Para 1.38 | |
| Policy on social investment including program related investment |
Para 1.38 | |
| Contribution made by volunteers | Para 1.38 | |
| Other |
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | In this reporting year we have seen significant financial growth when compared the the previous year, with a total income of £12,782.91 compared to £8,956 for 2021. £2,940.30 was used to meet overhead costs for the ministry in Zambia, including utility costs, vehicle costs, administration and a one off payment to assist in the cost of a funeral related to the ministry. These funds enable the effective function of Lordswa Ministries in its role overseeing the work of the local churches there. The churches are unabke to sustain the umbrella ministry and so our partnership achieves what they cannot. £5,867.32 was used to support pastors, with subsistence expenses, medical assistance, rent support, training and transport. Without this support pastors would find the basic costs of living unsustainable and it would be impossible to exercise an effective ministry. Local churches are unable to meet these costs alone. £2,108.50 was used from a restricted fund donated to support a Pastors’ Retreat in April 2022. This was an extremely successful event with Pastors from all over Zambia gathering together in Mufulira for teaching, training and encouragement. The funds covered transport, accomodation and food for all delegates. £1,985.06 was used to cover expenses for the chair of trustees to be in Zambia twice in 2022 to engage in the work of the ministry there and to monitor progress. He was a keynote speaker in the Pastors’ Retreat. |
£577.08 was used in funding mission trips to different churches in the network. £391.19 was the cost of administrating the ministry in the UK including bank transfer charges.
Additional information (optional) You may choose to include further statements where relevant about:
You may choose to include further |
statements where |
relevant about: |
|---|---|---|
| Achievements against objectives set |
Para 1.41 | |
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 | |
| Other |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The charity’s financial position at the end of the period is sound. The cash at bank and in hand was -£221.84, the deficit being more than covered by an HMC gift aid refund due after the end of the period. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | No reserves are held |
| Amount of reserves held | Para 1.22 | £0 |
| Reasons for holding zero reserves |
Para 1.22 | The charity has no contractual obligations or overheads and is only at liberty to spend resources it has in hand |
| Details of fund materiallyin deficit | Para 1.24 | None |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | None |
Additional information (optional)
You may choose to include further statements where relevant about:
You may choose to include further |
statements where |
relevant about: |
|---|---|---|
The charity’s principal sources of funds (including any fundraising) |
Para 1.47 |
|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | |
| A description of the principal risks facing the charity |
Para 1.46 | |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: | ||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Constitution |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | CIO |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Trustees are appointed as necessary by the existing trustee board |
Additional information (optional) You may choose to include further statements where relevant about:
You may choose to include further |
statements where |
relevant about: |
|---|---|---|
Policies and procedures adopted for the induction and training of trustees |
Para 1.51 |
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| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | |
| Relationship with any related parties |
Para 1.51 | |
| Other |
Reference and Administrative details
| Charity name | Lordsway Foundation |
|---|---|
| Other name the charity uses | |
| Registered charity number | 1183127 |
| Charity’s principal address | 9 Darfield Avenue Owlthorpe Sheffield S20 6SU |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee(if any) |
|---|---|---|---|---|
| Nicholas Lugg | Chair | |||
| Erica Lugg | ||||
| Stephen Astwood | ||||
| Sarah Smart | ||||
– Corporate trustees names of the directors at the date the report was approved Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets held in None this capacity
Name and objects of the charity None on whose behalf the assets are held and how this falls within the custodian charity’s objects
Details of arrangements for safe None custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
Type of Name Address adviser
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date |
||
|---|---|---|
| Nicholas Brian Lugg | ||
| Chair | ||
| 23rdMay 2023 | ||
| 23rdMay 2023 |
CHARITY COMMISSION FOR ENGLAND AND WALES Lord8way Foundation 1183127 Receipts and payments accounts CC16a For the period frorn Period start date Ptrriod end d81& 0110112022 3111212022 Section A Receipts and payments Unrestricted funds RÈstrictÈd funds Endowment funds Total funds Last year tothe n•ar4st to th•n•arBst É to the nBar•st É to tho n•ar8st £ toth4 nearoBtÉ A1 Re¢Èl ts GeTher31 Fund Income Pastor$ Retr9at2022 10,745 10,745 2.037 8,974 2.037 Sub totallGross incom8 forARI 10.74 2.037 12.78 8,956 A2 Asset and investment sales, see table Sub tota Total receipts 12.78 A3Pa ments Zatnbia operaOal expendiiure 577 577 ort Workers Support Airfares Intemational Travel Iothers UK operaiionalempendllu Pastor$ Retr9at2022 339 339 499 499 591 Sub total A4 Asset and investment urchases, see tsblo Sub totsl Total payments Net of receipts/(paymentsJ AS Transfers between funds A6 Cash funds last year end Cash funds thls yearend 72 72 CCXXR1 accounts ISSI 3110512023
Section B Statement of assets and liabilities at the end of the period Unrestricted funds to nearo$l Restricted fijnds to n•argst f Endowment funds to nfyarg$t £ Categorie5 B1 Cashfunds 222 Total cash funcls 222 Unrestrlcted funds Restrlcted fund5 Endowment funds Detsils to nearosl £ to n•argst f to nwarg$t £ B2 Other monetary assets Fundto which a8s•t b8lon Cyrrontvalug Details B3 Investment assets Fundto whlch asset b*long$ Current value Details B4 Assets retained for tha eharity'5 own us8 Fundto whlch r•lat8s Amount du Wh•n Details BS LSabllltles Signed by ont or tWOlrusi•as on beh8lf of 811 the Iruslees Signatur8 Print Nam& Dale of roval NiGholas Lu 23rd Ma 2023 CCXXR2 accounts ISSI 3110512023