Trustees’ Annual Report for the period
From 1[st] January 2023 To 31[st] December 2023
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 organization. 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 assistance to pastors whose local churches are not financially strong enough to be 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 initiatives designed to encourage and strengthen leadership at all levels. We host pastors’ retreats, aimed at those carrying overall responsibility for their churches, providing, teaching,training,encouragement and refreshment. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission onpublic benefit |
Para 1.18 | The trustees have had regard to the Charity Commission guidance on public benefit. |
Additional information (optional)
You may choose to include further statements where relevant about:
| SORP reference | ||
|---|---|---|
| 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 the general unrestricted income of the charity was at a similar level to last year (£10,236). The difference was because in the previous year a restricted donation of £2.037 was given for a pastors’ retreat, hence an overall income reduction for this year. £2,855 was used to meet overhead costs for the ministry in Zambia, including utility costs, vehicle costs, and administration. This is largely unchanged from the previous year. These funds enable the effective function of Lordsway Ministries in its role, overseeing the work of the local churches there. The churches are unable to sustain the umbrella ministry and so our partnership achieves what they cannot. £5,301 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. £279 was used in funding mission trips to different churches in the network. £206 was the cost of administrating the ministry in the UK includingbank transfer charges. |
Additional information (optional)
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 £1,112, with £64 beingowed to cover cash expenses. |
| 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 materially in 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:
| 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:
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | |
|---|---|---|
| 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
| Charityname | LordswayFoundation |
|---|---|
| Other name the charityuses | |
| Registered charitynumber | 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 (ifany) |
|---|---|---|---|---|
| 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 this capacity |
None |
|---|---|
| Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects |
None |
| Details of arrangements for safe custody and segregation of such assets from the charity’s own assets |
None |
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) Nicholas Brian Lugg Position (eg Secretary, Chair Chair, etc) Date 12th October 2024
Lordsway Foundation
CC16a
1183127
Receipts and payments accounts
For the period Period start date Period end date To from 01/01/2023 31/12/2023
Section A Receipts and payments
| A1 Receipts | Unrestricted funds to the nearest £ |
Unrestricted funds to the nearest £ |
Restricted funds to the nearest £ |
Restricted funds to the nearest £ |
Endowment funds to the nearest £ |
Endowment funds to the nearest £ |
Total funds to the nearest £ |
Total funds to the nearest £ |
Last year to the nearest £ |
|---|---|---|---|---|---|---|---|---|---|
General Fund Income(Donations) |
10,235 | - | - | 10,235 | 10,745 | ||||
| Bank Interest | 1 | - | - | 1 | - | ||||
| Pastors Retreat 2022 | - | - | - | - | 2,037 | ||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| Sub total(Gross income for AR) | 10,236 | - | - | 10,236 | 12,782 | ||||
| A2 Asset and investment sales, (see table). |
|||||||||
| - | |||||||||
| - | - | ||||||||
| Sub total | - | - | |||||||
| Total receipts A3 Payments |
|||||||||
| 12,782 | |||||||||
Zambia Operational Expenditure |
2,855 | - | - | 2,855 | 2,641 | ||||
| Mission Trips | 279 | - | - | 279 | 577 | ||||
| Pastors' Practical Support | 5,301 | - | - | 5,301 | 5,867 | ||||
| Workers' Support | 115 | - | - | 115 | 339 | ||||
| Airfares | - | - | - | - | 1,447 | ||||
| International Travel(Others) | 47 | - | - | 47 | 499 | ||||
| UK Operational Expenditure | 206 | - | - | 206 | 391 | ||||
| Other miscellaneous | 162 | - | - | 162 | - | ||||
| Pastors Retreat 2022 | - | - | - | - | 2,109 | ||||
| **Sub total ** | 8,965 | - | - | 8,965 | 13,870 | ||||
| A4 Asset and investment purchases, (see table) |
|||||||||
| - | |||||||||
| - | |||||||||
| **Sub total ** | - | - | |||||||
| Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end |
|||||||||
| 13,870 | |||||||||
| 1,271 | - 1,088 | ||||||||
| - | - | ||||||||
| - 222 | 866 | ||||||||
| 1,049 | - 222 |
Section B Statement of assets and liabilities at the end of the period
| CCXX R1 accounts (SS) Categories B1 Cash funds |
1 CAF Current Account Cash Account Details Total cash funds (agree balances with receipts and payments account(s)) |
Unrestricted funds to nearest £ 1,112 - 64 - 1,049 OK |
12/10/2024 Restricted funds Endowment funds to nearest £ to nearest £ - - - - - - - - OK OK |
Endowment funds to nearest £ |
|---|---|---|---|---|
| - | ||||
| - | ||||
| - | ||||
| - |
| Signed by one or two trustees on behalf of all the trustees B2 Other monetary assets B4 Assets retained for the charity’s own use B5 Liabilities B3 Investment assets |
Signature Details Details Details Details |
Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) - - - - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) - - - - - Print Name Nicholas Lugg |
Endowment funds to nearest £ |
|---|---|---|---|
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| Current value (optional) |
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| - | |||
| - | |||
| Current value (optional) |
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| - | |||
| - | |||
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| When due (optional) |
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| Date of approval | |||
| Nicholas Lugg | 12thOctober 2024 | ||
CCXX R2 accounts (SS)
12/10/2024
2