Chatlty number: 1190376 WORD OF LIFE MINISTRIES EUROPE UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
WORD OF LIFE MINISTRIES EUROPE CONTENTS Page Reference and admlnl8tratlv& detslls of the Charty, It8 Tfustoes and advl8e Trustees. report Independent exaMIr'S report Statement of flnanclal a¢tlvltlg8 Balance sheet Notè8 to the flnancial ststements 8-17
WORD OF LIFE MINISTRIES EUROPE REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees Gl8i80n hA Cabral Jourdèl T L M Lord Charlty reglstsr•d number 1190375 Prlnclpal office clo Baldwin Scofield AccountanGy LLP 3 Newhousè Buslness Centr8 Olo Cr8wley Road Horsham Wesl Sussex RH124RU Aeeountsnts Baldn S¢oileld Accountancy LLP Chartered Accounlanls 3 N8whou$e Business Centre Old Crawley Road Horsham West Su88ex RH12 4RU Page 1
WORD OF LIFE MINISTRIES EUROPE TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Th8 Trustees present their annual report tO9elher with the financial statem8n18 of the Word of Lif@ Minlstries Europe for the year 1 January 2023 to 31 December 2023. Objectlves and activltl•$ • Pollcl88 ond objectlves To advanG8 the Christlan falth in eordanCe wlth the Slalem8nl by, but not exclusively by, proGlaiming the Irulhs contained In the 14oly Bible, gathering in publiG or al other limes for teaching the Word of God through the Holy Bible, worship and praise, evangelism, study, prayer, child and youth work and community servlce,, To rellev8 povèty both In thé UK and overse88 by any mèans such a$ glfts, donatlons, ContbUtIons, loan8 and advances ¥th or wthout interest., To fulfil suth othèr purposes whlch are excluslvety charitable accordlng lo the18w of England and Wales and ar& conn6Cted lo the chaAlabkle work ol the ChaTily as the Trustees from 1Sme lo tlme may Ihlnk fit. In selllng objectlves and plannlng for aclivlll88. the Trustees have 9lven duè con81derallcn lo general guidanc8 published by the Charfty Comm5s8ion relallng lo publlc beneflt, Including the guldanc8 'Publie benefit.. runnlng a charlly {P821'. Achl6v•ments and pertom)ance • Maln achlevfjmonts of thg Charlty In 2023, Word of Llfe Mlnlslrles Europe reathgd new mlleslones In expandlng our prèsence and influence across the Unilod Klngdom and Europe. Committed lo sharlng the Word of Faith wllh people from all walks of life, we contlnué to embody our value8 of Falth, Unlly, Love. Integrity. Joy. Peace. Sound Doctrlnè Zeal, Servlee, Bullding Peopl¢. Excellenc6, and Abundant Llfé. Th18 year, our network of local church•# and Biblè schools has remalned a beaGon of hope, 8ervlce. and spiiltual growth for ¢ommunilies acr088 the ¢ontinenl. Verbo Connect, our onllng church campus, has become the heart of our mlsslon to rnaGh now audlenc68. Th18 year, we connected wtth individual8 in over 15 countries and launched church planting project8 In seven cilles. As a vital parl ol our expansion strategy. Verbo Connèd allows us lo share th¢ message of falth, 85pecSally Sn areas with limited access lo physical church Spaces. Th18 platform has helped us engage a new generation wlh the message of Christ in a way that18 conlempoiary and access1b, 8xt¢nding our reach and Impa¢t. We also celebrated sIgniflnI growth in church planting efforts. Our network now Indudes 34 churches a¢ross tha UK, Europe. and beyond, serving ¢ommunilles in ¢ountrie8 lik8 Partugal, England, Ilaty, Francè, Germany Spain, Scoland, Swtzerfand, San Marino, Ireland, the Netherlands, Sw8den. and even South Korea. Each hurch has bacome a Ihrlvlng centre of falth, compasslon, and communlly, bringing people tog8lh8r in fellowship and service. Our Bibl& Schools Contin to equlp the naxt generation of leaders. In 2023. more than 230 8ludenls graduated from the RHEMA Bible Training Cenlre, Word of Llfo Bible S¢hool, and Mlnlslerial School. The8e dedlcated students are now w&ll-prepared Io S&e their communities, equippad with faith and knOedge to nurtur8 relationships and Share the Gospel in a meanlngful, impaclful way, Under the dedlcal¢d leadership of Pastor Gleison Cabral as CEO an(J Marina Cabral as COO, Word of Lif8 Minlstries Europe has expanded ils operational cap8cIty. Our office In Portugal now includes a dedical8d team of l O full-lime staff members, alongslde hundreds of volunl8ers across Europe and the UK. Thoir combined efforts are instrumental in bringing our vision lo Ilfe and reaching more indlviduals every year. Pagé 2
WORD OF LIFE MINISTRIE8 EUROPE TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 AGhlovemènts and perfom)ancè Icontlnuedl Main achievements of tho Charlty Icontlnuedl Through our Churches and Bible school graduate8. we have m*d8 a posiUve impact on the communlll85 we serve. Our ongoing outreach programme5, charity inilialives. and community engagement efforts reflect our ommllm8nt to being a sourcè of love and support for those In need. Our mombers have generously offered their lime and re80urces lo make a dlffer8nce in the Ilves of other8, Ilvlng out our core values In every act of service. Thè Tru8tees and Pastors of Word of Life Mlnlstrf&s Europe are deeply grateful for the continued 8UPPQrt of our partners, team members, and volunteers. Their generoslty, whether through financial support or volunteer efforts, make5 our mlssion possible and drives us forward in faith. As we look lo 2024, w8 are excited for another year of expansion and oulr8ach. Our focus remalns on raising and training new laader8, both online and In.p8rson, lo further our mission and plant new ¢hurch68 aGross Europe. Togolher, we antlclpale an Inspiring journey ahead. full of gro, hope, an¢J Iransformallon. Flnanclèl rovlew • Golng concern After making appropri810 enquirfès, the Trustee8 h8v8 a reasongblo expectation that the Ch8dly ha8 8d8quatO re8ourGes lo continue In oporatlonal exlslence for the foreseeable lulure. For Ihls rea80n, they continue to adopt the golng concern basis In preparing th& flnancial $ts18ments. Further delalls reg8rding the adopllon of the going concem b8318 can bg found In tha accounting pollcl88. • R08•N?8 poIIcy In line wllh the Iru81ees bellef that God provldes the funds requlred for the work that he has called tharn to, no re86Ne8 are malnlalned. Structurèi governance and management Constltutlon Word of Llfe Mlnlslries Europe 18 a r$gi8tered charity, number 1190375, and 1$ con8titLrted under a CIO con81ilullon. • Mèthod8 of appolntmont or electlon of Trusteeg The manag8mgnl of thè Charfly is the responsibllity of the Truslegs 8r6 elected and co-opted under the lems of the CIO constitl0n. Page 3
WORD OF LIFE MINISTRIES EUROPE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 310ECEMBER 2023 Statoment of Trusto•$' re8ponslbilltl98 The Trustee8 are responsible for preparing the Trusle&$' report and the financial slatements In accordance th applicable law and Unll&d Kingdom Accounting Standards Iunlled Kingdom Generally Accepl&d Accounting Pracliee). The law appllcable lo charities in England & Wales requires the Tru8le8S to prepare fln*nci818lalomen18 for 8ach finandal year which give a true and fair view of the 8tale of affairs of the Charity and of Ils incoming resources and appllcalion of resources, includlng 118 income and expenditure, for that perlod. In preparing these flnancial slalamenls, the Trustees are roqulrèd to.. 8818¢t Suitable 8ecounUng pollcies and then apply them consistently., observ8 the method8 and prlnclple8 of the Charltl6s SORP IFRS 1021-, make judgments and accounllng esllmates that are reasonable and prud8nl', ststa whether appllcable UK Accounting Standards IFRS 1021 have bèen ftsllowed. sublecl to any malerlgl d8partures disclosed and explalned In the financial slal&menls', prepare the flnancial slalemenls on the golng concern basis unles8 Il Is Inappropriate to pre8um8 that thg Charity Wll conllnue in busines8. The Tru81ee8 are responsible for keeping adequate accountlng rocords Ihal are suffi¢i8nl lo show and explaln the Ch8rfty's transa¢lions and dlsclo$e ¥th reasonable accuracy al any lime the financial p08rtlon of the Chafily and enablè them lo ensure that the financial statements ¢omply with the Chaiilles Act 2011, the Charity IA¢¢ounls and Reports) Regulations 2Q08 and the provlsions of the CIO eon8111uUon. They ar8 also respon6ibl8 for 8aleguarding th@ as881$ of the Charity and hence for laklng reasonablg slep8 for the prevention and deledion ol fraud and olhor Irregularilles. Approved by order of tho memb8r8 of the board of Tru81888 on 30 O¢lober 2024 and 81gned on Ihe5r behall by.. Gl Pag& 4
WORD OF LIFE MINISTRIES EUROPE INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Indgpendent oxamlnevs r•port to the Trust8e$ of Word of Llfo Mlnlstrles Europe {Ih¢ Charlty'} I report lo the charfty Trustees on my examinatlon of the account8 of the Charity for the y6ar endèd 31 Dec8mber 2023. Responslbllltles and basls of Mport AS the TnMlees of the Charty you are responsible for the preparation of the accounts in accordance wth the requiremen18 of the Charlties Act 2011 I'lhe 2011 Acl'l. I r8POrt in respect of my examination of the Charit8 accounts carried out undgr Section 145 of thè 2011 A¢1 and In Garrying out my &xaminalion I have followed the applicable Directions given by the Charity Commlsslon under Section 145{5)Ibl of the 2011 Act. Indep•ndont examlnèls 8tat8mént Ycur 2tt8ntion Is drawn to the faGI that the Charlty h88 ppared the accounts In accordance with Accounting and Reporting by Charities.. Stalèmenl of Recommended Praclicè applicable t¢ charllle8 preparing their accounts In 8ccordance with the Finan¢ial Reporting Standard applicable in the UK and Republ1¢ ol Ireland IFRS 1021 in préference lo the Accounllng 8nd Reportlng by Charllies., Slalamenl of Rocommènded Pr8¢d¢e Issued on 1 Aprll 2005 which18 rgferred lo in the extant regulations bul has been thdraWn. l understand that Ihls ha8 been done In order lor thè accounts to provld¢ a true and falr vlew In accordan¢8 th the Generally Aec8Pted Accounllng Practi effe¢llv8 for r8POrtlng periods b8ginnlng on or after 1 January 2015. I have ¢ompleled my examlnallon. I conflrm that no mallers have coma lo my allentlon In connecllon wllh the examlnatlon glvlng me cause lo bellèv& that In any mè19rial respect.. ac¢ountlng records w6ro not kept In respect of the Charlly aB requir8d by 8ecllon 130 of the 2011 Ad., or the accounts do rKJt accord with those records., or the accounts do not comply wSlh the appllcable requirements concemlng the form and contènt ol accounts set out in the Chari1198 (Aocounls and Report51 RulationS 2D08 other than any r&quiremenl that thè accounts give a 'lrue and fair vlew whlch Is not a rnatt8r considered as part of an independent •xamlnalion. I have no eoncems and have come acros¥ no other matters in connè¢lion th tho examination to which att8nlion should be drawn in Ihls rep¢)rt in order lo enable a prop8r under8landlng of thg gccounts lo be reached. Thls roport 18 made solely to the Charity's Trusl8&s, as a body, in acGordanc8 wlh Part 4 of the Charitie8 IA¢counls and Reports) Regulation8 2008. My work has been undertaken so that I might 81ale lo the Ch8rfty'$ Trustees thosè mallers l am required to $18te lo them in an Independent examiner's report and for no other purpose. To the full8s1 extsnt p8rmltted by law, I do not acGepl or assume re8ponsibillly lo anyone other than the Charfty and thè CharSly's Tru81ees as a body, for my wortt or for Ihis report. Signed.. Dated.. 30 Oclobar 2024 Nichola8 M Baldmn BA(Econl FCA DChA Ba1dwln S¢ofleld AGcountanGy LLP Chartered Accountants Page 5
WORD OF LIFE MINISTRIES EUROPE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlctod fund5 2023 Total funds 2023 Total funds 2022 Note Incom• from: Donallons an(J legacles Charrtable activltl8S Inv8slmenls 16,623 16,623 509 10,234 289 39 39 Total Income 16.171 16,171 10,523 Expendltur• on: Charltable activllles 13,111 13,111 16,455 Totsl oxpendlturo 13,111 13,111 16,455 Not movèm•nt In fund8 3,080 3.060 f5,932J R?conclll#tlon of lund8: Total fund8 brought forward Nel movement In fund8 10.787 3,060 10,787 3,060 16, 7t9 (5,932) Total funds c8rrl•d forward 13.847 13,847 10, 787 The Slalemént of flnanclal 8¢tSvllles Includes all gaSn8 and105808 recognlsed In the year. The notes on pages 8 10 17 form parl of these finan¢lal Statements. Page 8
WORD OF LIFE MINISTRIES EUROPE BALANCE SHEET AS AT 31 DECEMBER 2023 2023 Note 2022 Flxad assots Tangible assets Current asset5 Cash at bank and In hand 11 7.710 2,309 7,337 7,337 9.558 Creditors.. amounts falllng due thIn one year 12 {1.2001 {1,080J Net current a88ets 8,137 8,478 Total net a8setg 13,847 10,787 Charlty fund$ Resldcted funds Unrestrleled fund8 14 14 13,847 10, 787 Total funds 13,847 10,787 Tho financial 81alem&nls were approvgd and aulhorised for 188ue by tho Tru8le6s on 30 October 2024 and slgnad on thelr bèhall by., bral The notes on pagos 8 to 17 form p8rt of these flnan¢lal 8talemenls. Page 7
WORD OF LIFE MIMSTRIES EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 General Infomiatlon Word of Life Mlnlstries Europ8 is a registered charity, numbar 1190375, and is constiluled under a CIO consututlon. Accountlng pollcles 2.1 Basls of preparation of flnanclal statements The financial st8lements have been prepared In ac¢ordance wlh the Charlties SORP (FRS 1021 Aceounllng and Reporting by Charllies.. Statement of Recommended Practic8 applicable lo ¢harilies preparing Ihelr accounts in accordance with the Flnanclal R8porting Standard applicable th the UK and Republic of Ireland IFRS 1021 leffèelive 1 January 20191, the Financial Reportlng Slan¢Jard applic8b16 In the UK and Republic of Ireland IFRS 102) and th• Charltles Act 2011. The flnanclal st818m&nts have been prepared to give a Irue and falr, vlew and have doparted from the Charftle8 (Accounts and Reports) Régulation$ 2008 only to the 8xl6nl required to proviLYe a 'lruo and falr, view. This departure h88 involved following the Charities SORP IFRS 1021 pub118h8d in October 2019 rather than thè Accounting and Reportlng by Charllle8'. Slalemenl of Recommend8 Pra¢lice effaclive from 1 rI1 2005 which has slnce been withdrawn. Word of Llfe Mln181rt88 Europe meet8 the deflnltion of a publlc beneflt onllly nder FRS 102. Assets and 11gbillts.88 are Initially recogni8erJ at hlslorlcal co81 or Iran$acllon value unless olh8rwi8e slated In the relevant accounllng poliw. 2.2 Income All Income 1$ recognised onco the Charity has entlllernenl to the Income, 11 18 probable that th8 Incoma will b¢ received and the amount of Inttjme rgGelvable ¢an be mea$uied rellably, 2.3 Exp8ndltur• Expendilurels recognis8d once there Is a legal or conslruclive obligallon lo Iran8f&r economi¢ ben8fl1 lo a third paty, il Is probablè that a Iran8f&r of economic bènefi18 11 be required In settlement and the amount of the obllgatlon can be measured reli8bly. Expendlture 1$ classified by aclivily. The costs of each aclivlly arè made up ol tho lolal of dlrecl Gosls and Shared Gosl8, including 8UPPOrt costs Involved in undertaking ea¢h aclivily. Dlre¢l c081s atlrlbutsble lo a slngle aelivily are allocated directly lo that activity. Shared cos18 which conlrfbule lo more than one acllvily and support wsls which are not allllbutsble lo a 8ingle activity are apportloned belweori those actlvltles on a b8sis con8iStenl wSlh the use of resources, Central staff ¢osls are allocated on tha basis of time sp6nl. and depreciation charggs allocated on the portion of the as8et'8 Use. Expenditur@ on charitable aclivllies is IncUrd on directly undertaking the activities which further the harty's objectives, as well as any associated supp¢)rt Gosl8. Grants payablè are Gharged in the year when the offer is made except In those cases where the offer is condillonal, such grants belng recognlsed as expenditure when the condlllons attaching are fulfilled. Grants offered sublecl to conditions which hav8 not been met at the yèar end are noted as commltment. bul not a¢crued as exp6n¢Jilure. All expenditure Is inclusive of irrecovarablg VAT. 2.4 Interest rè¢èlvable Interest on funds held on deposit 18 included when receivable and thè amount Gan be measUd reliably by the Charity- this Is normally upon notificab'on of the interest pald or payable by the Institution wth whom the funds are deposited. Pago 8
WORD OF UFE MINISTRIES EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2023 Accountlng poliGlgs Icontlnuedl 2.$ Tanglble fixed a88ets and depreclation Tanglble fi'xed assets costing £NIL or mor& are capilalised and recogni8ed when future economic b8n6fils a probable and thè eosl or value of Ihe asset can be measuréd reliably. Tangible fixed assets are Ini118lly recognlsèd al cost. After recognltion, under the cost model, tangible fixgd asse18 are measured at cost less a¢cumulat8d depreclalion and any accumulated Impalrmenl loss8s. Al costs Incurred lo brlng a tangible ffxed essel Into its intended worng condllion should be Included in the measurement of cost. Depr8eiats'on 18 ch8rged so as lo allocate th& cost of langlble flxed assèts less Ihelr residual value over th&lr éslim8led uselul lives, uslng the slraighl-llne method. Depreciallon is provldéd on the following basls,. Computer ¢qulpmenl 2.6 Ca$h at bank and In hand 25% on cost Ca8h at bank and In hand Includes Cash and short-lerm hlghly Ilquld invgsbnenls wllh a short malurlty of three months or less from thg dalè of acqu18itlon or openlng of the depos11 or 8lmllar 8¢¢0unl. 2.7 Llabllltle8 and prov181on8 Liabilttles are re¢ognl86d when there 18 an obligation al the Balance sheet dale as a re8uII of a past event. It Is probable that a transfer of economlc beneffl will be fequlred In settlement, and thè amount of the s8lll•menl Gan be astlmaled rellably. Llabllycies are reGognls8d al the amount that the Charlty antlclpat¢811 11 pay10 88ttle the debt or the amount It has recelvgd 88 8dvanced payments for the goods or servlc•$11 musl provlde. Provlslons are measured al the best estlmale of th8 8moun18 requlred to settl8 thè obllgatlon. Wher8 the effect of the time value of money is material, the prov181on1s based on the presont valu8 of Iho8e amounts, di8counted al the pre-tsx discount rale that reflects the rlsks Specific lo th8 liability. The unwlndSng of th& dl8counl18 reeognised in the Stalomenl of financial acllvilies as 8 finance cost. 2.8 Flnanclal Instrumonts The Charity only has flnancial asselg and flnanaal Ilabilitlas of a klnd Ihal qualify a8 b8slc fi'n8ncial In8lrumen18. Baslc financial inslrufftenls are initially recognisod al tran8acllon value and subsequently measured al their selllemgnl value wlh the excepllon of bank 108n8 whlch are sub8equenlly m8aSu al amortised wsl uslng the effe¢lfve interest mèthod. 2.9 Fund accountSng Gener81 fvnds aro unreslricled ndS whlch are availabl8 for use al the dis¢retion of th@ Trustees in furtherance of th8 gen6ral objectives of the Charity and which hav6 not be8n designalgd for other purposes. Inve$lment Income. gains and losses arè 8lloc¥ted lo the appropriate fvnd. Pagg 9
WORD OF UFE MINISTRIES EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Income from donallong and legacles Unrestrlcted funds 2023 Totsl funds 2023 Donation8 15,623 16,623 Unreslrict8d funds 2022 Tot81 funds 2022 Donallons 10,234 10,234 Income from charltable aCtltIeS Unre8trlctèd fund8 2023 Total fund8 2023 Income from charltablg acllvltlos - Blble 8¢hool fees 509 509 Unrestrlctod fvnds 2022 Total lunds 2022 Income from eharflable 8cllvllie$- Blble school fees 289 289 Inve5tmont In¢ome Unrestrfcted funds 2023 Total funds 2023 Total funds 2022 Investment Income- local cash 39 39 Page 10
WORD OF LIFE MINISTRIES EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2023 Analysi5 of grants Grants to Grants to Institutlons Indlvlduals 2023 2023 Total funds 2023 Grant8 made 1,522 1,622 Granls to Instllutlon$ 2022 Grants to Individuals 2022 rolal funds 2022 Grant8 mad8 7,264 1,803 9,067 Analy8ls of expendltuye on charltsblg actlvltlfr8 Summary by fund typo Unrestrlctsd funds 2023 Total 2023 Charltable 8etlvlly costs 13,111 13,111 Unrestricted funds 2022 Total 2022 Charllable a¢livity costs 16,455 16,455 Analysls of expanditure by activltl88 ActlvltSes undertaken dlrectly 2023 Grant fundlng ol actlvltles 2023 Support costs 2023 Total funds 2023 Charitable a¢tivty costs 10,841 1,522 748 13,111 Page11
WORD OF LIFE A•ANISTRIES EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analy$ls of oxpondlturo by actlvltlo$ {contlnuedl Actwllies undertaken directly 2022 Grant undlng ol 8Qtivitles 2022 Support costs 2022 Total funds 2022 Charitable activity Costs 5.964 9,067 1,424 16,455 An8ly818 of dlract cost8 Total lunds 2023 Total funds 2022 W•b, hg8ting and domalns Offi¢e, IT an¢J consumable$ Telephon& and broadband Travel and other 05sodaled costs Sundry expen88$ Bank charge8 Mlnlstry expen$95 Governanc& ¢o8t8- depTecl8llon 772 4,086 641 16 216 2,596 967 169 1,057 302 505 3,821 1,638 10,841 5,964 Analy81s of Support costs Total funds 2023 Total funds 2022 Independent examinatlon fe¢ Exchange differen$ 1.260 15121 Y,080 344 748 1,424 Page 12
WORD OF LIFE MINISTRIES EUROPE NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 DECEMBER 2023 Independ•nt •xamlnerfs rgmunaratlon 2023 2022 Fees payeble to the Charws Independent examlnèr for the Independent examination ofthe Charity'$ annual accounts 1,260 1,080 10. Tru8teeg' rèmunoratlon and oxponses During the year, no Trusleas recelv8é any remun•rallon or other ben6fi18 (2022- £NILJ. Dudno the year ended 31 Dgcembor 2023, no Twsts8 expensès have been incurred (2022- £NIL). 11. Tanglblo Ilxgd a88•ts Computsr equlpment Cost or valuatlon Al 1 January 2023 Addltion8 2.811 7,039 At 31 December2023 9.660 Deproclatlon Al 1 January 2023 Charge for the year 302 1,638 Al 31 December 2023 1,940 Net book value At 31 De¢embeT 2023 7.710 At 31 Docemb8r 2022 2,309 Page 13
WORD OF LIFE MINISTRIES EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Credltors: Amounts falllng due wlthln on• year 12. 2023 2022 Accruals and deferred income 1.200 1,080 13. Flnènclal Instrument¥ 2023 2022 Flnanclal assets Flnaneial asse18 measurèd at fair value through income and expenditure 7,337 9,558 Flnanclal a8se18 me88Ufed 81 falr value through Income and oxpendllure comprlse bank account b818nce$. Page 14
WORD OF LIFE MINISTRIES EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2023 14. statement of funds Statement of funds - current year Balance at Balance at 1 January 2023 December 2023 Incom¢ Expènditure Unrestrlctad funds G6ner81 Fund 10,787 16.171 113.1111 13,847 8t•tgment of funds - prlor year Balance &t 3t D8c8mbei 2022 Ba18n¢8 al l Jonuary 2022 Income Expenditure Unrwdtrlctod fund8 General Fund 16, 7t9 10,523 {16,455) 10, 787 Pagè 15
WORD OF LIFE MINISTRIES EUROPE NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 DECEMBER 2023 1& Summary offunds Summary oflunds-current yoar Balance at 31 Decèmber 2023 Balan¢e at 1 January 2023 Income Expendlture General funds 10,787 16,171 113,111} 13,847 Summary of funds - prlor year Balancg at l January 2022 8818ncg al 31 D8cember 2022 Income Exp8nthtur8 General fvnd8 16, 719 10,523 (16,455) 10.787 Page16
WORD OF LIFE MINISTRIES EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2023 16. Analysis of net assets betw8•n funds Analysis of net ass•ts between funds . Current year un¥tct&d fundy 2023 Totsl funds 2023 Tanglble fixed assets Current assets Creditors due within one y88r 7,710 7,337 11,2001 7,710 7.337 11,2001 Total 13,847 13,847 Analy$ls of net 88$8ts bèlon fund8 - prlor year Unroslrfcled fun¢Ys 2022 Total lunds 2022 T8nglble fixed as8018 Current a8sats Credltor8 dué wllhln one year 2,309 9,558 f1,080J 2,309 9,558 (1,080) Total 10,787 10,787 Page 17