**Living God Gospel Church** Registered Charity number 1191093 ## **ANNUAL REPORT** for the year ended 31 December 2021 Page 1 ## Contents |Contents|Contents|| |---|---|---| |
Annual Report||| |1|Reference and Administration|3| |2|Objectives and Activities|4| |3|Achievements & Performance|4| |4|Financial Review|4| |5|Structure Governance and Management|4-5| |6|Conclusion|5| |
Financial Statements||| ||Statement of Financial Activities
|6-7| ||Balance Sheet as at 31 December 2021
|7| ||Statement of Assets and Liabilities
|8| ||Analysis of Income and Expenditure
|10| |Notes



|to the Financial Statements
|11 - 13| Page 2 ## **The Living God Gospel Church** ANNUAL REPORT for the year ended 31 December 2021 The Trustees present their report and the audited financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity. ## **Reference and Administration** The Living God Gospel Church is situated in Unit 5, Brabazon Office Park, Golf Course Lane, Filton, Bristol BS34 7PZ. The correspondence address is Unit 5, Brabazon Office Park, Golf Course Lane, Filton, Bristol BS34 7PZ. The Living God Gospel Church is a Registered Charity (no. 1191093). The public register may be accessed via the Charity Commission website and includes the Trustees’ Annual Reports. The members of the church workers committee and board of trustees from 1 January 2020 until the date of this report were: Incumbent Pastor Michael Nwaki Chair **Church worker committee** Mrs Evelyn Egbirhemhon (Treasurer) Mrs Eunice Nwaki Ms Patricia Salomon Ms Maria Rosa Narvaez (Assistant Treasurer) Morillo Evangelist Andrew Benson Egbirhemhon **Church Board of trustee** Pastor Michael Nwaki Evangelist Andrew Benson Egbirhemhon Mrs Jacqueline Fensome Mrs Eunice Nwaki Secretary **Banker** Barclays Bank Plc, UK Bristol - Forms of service and patterns of worship, some formal and some more informal, have been under active consideration throughout the year, culminating in approval of a more user-friendly pattern of Holy Communion service as the year ended. As a result of the pandemic, a number of new forms of worship were introduced, e.g. online Sunday Services, bible study, prayer meetings and night-virgins etc - Work with children and young people, which has continued steadily during the year. Time Together continued, with much thought continuing to be given to the integration of parents in the life of worship Page 3 and prayer at The Living God Gospel Church. The church trustee has been glad to continue to give financial support to what can be seen in retrospect to have represented a turning point in the life of the church. ## **Financial Review** The church is entirely financed through freewill giving, tithes and offerings from the church members. Overall the tithes, offerings and donations from the members of the church by 31[st] of December 2021, stood at a total of **£12,741** (Twelve thousand, seven hundred and fourty-one pounds only). In the same year, the total expenses of the church amount to a total of about £ **1,773** (one thousand, seven hundred and seventy-three pounds only). Overall, we had an account balance gain of Deficit of **£10,227** (Ten thousand, two and twenty -seven pounds only) Brief statement of the Charities policy on reserves The Trustee may have care of several types of funds. 1. General – those available by any means and accessible to be used for the general purposes of the church. As at 31 December 2021 General funds amounted to £10,227. 2. Designated – none 3. Restricted – none. 4. Endowment – none (2021: £Nil) ## **Investment reserve policy** Our reserves are kept in the bank, however there are several needs for financial fundings of programs that would benefit the body of Jesus Christ and the UK populace at large, such as the summer software training Boot-Camp-2022, which is really under-funded (The summer software booth Camp is where LGGC host all secondary schools’ children for one-week program in software development, Java and JavaScript programming languages with advance solutions to climatic problems) ## **Structure Governance and Management** The Board of trustee is a corporate body of the church. It operates under the charity commission rules, regulations and powers to oversees and regulate the overall church activities. The Board of trustee appoints a number of committees. As required by law, there is a Standing Committee with power to look at the overall church activities. There are five other Committees, namely (i) Finance and treasury, (ii) Bible study, (iii) Pastoral, (iv) Worship, and (v) media development. The reports of each committee are considered by the trustee ## **Conclusion** A final note is added to thank all who have contributed to the well-being of the life of the church by giving of time and expertise, often at considerable personal cost, as part of unspoken mission giving. This often has Page 4 unrecognised significani financial benefrts but is much concerned wtth our sense of ￿MMunity, affirnjing faith and exercising the mission and ministry of the whole peopl¢ of God. Sign Chaimian Pastor. Michael Nwaki. Trustee gi/DS1£02L ## **Statement of Financial Activities** |£
£

£
Unrestricted Restricted Endowment
Total
funds
funds
funds
funds
Income and endowments from:




Donations, Tithes and Offerings
12,740.83
0
0
12,740.83
Income from charitable activities
0
0
0
0
Other trading activities
0
0
0
0
Investments
0
0
0
0
Other income 0
0
0
0|£
£

£
Unrestricted Restricted Endowment
Total
funds
funds
funds
funds
Income and endowments from:




Donations, Tithes and Offerings
12,740.83
0
0
12,740.83
Income from charitable activities
0
0
0
0
Other trading activities
0
0
0
0
Investments
0
0
0
0
Other income 0
0
0
0|£
£

£
Unrestricted Restricted Endowment
Total
funds
funds
funds
funds
Income and endowments from:




Donations, Tithes and Offerings
12,740.83
0
0
12,740.83
Income from charitable activities
0
0
0
0
Other trading activities
0
0
0
0
Investments
0
0
0
0
Other income 0
0
0
0|£
£

£
Unrestricted Restricted Endowment
Total
funds
funds
funds
funds
Income and endowments from:




Donations, Tithes and Offerings
12,740.83
0
0
12,740.83
Income from charitable activities
0
0
0
0
Other trading activities
0
0
0
0
Investments
0
0
0
0
Other income 0
0
0
0|£
£

£
Unrestricted Restricted Endowment
Total
funds
funds
funds
funds
Income and endowments from:




Donations, Tithes and Offerings
12,740.83
0
0
12,740.83
Income from charitable activities
0
0
0
0
Other trading activities
0
0
0
0
Investments
0
0
0
0
Other income 0
0
0
0|£
£

£
Unrestricted Restricted Endowment
Total
funds
funds
funds
funds
Income and endowments from:




Donations, Tithes and Offerings
12,740.83
0
0
12,740.83
Income from charitable activities
0
0
0
0
Other trading activities
0
0
0
0
Investments
0
0
0
0
Other income 0
0
0
0|£
Prior year
total funds| |---|---|---|---|---|---|---| |||||||1,293.04
0
0
0
0| |**Total income 12,740.83**||**0**||**0**|**12,740.83**|
**1,293.04**| |**Expenditure on:**

Raising funds 0
Hall Hire/rentage 1080.00
Deposit/service Charge/rent 593.00
Expenditure on charitable activities
100.00||
0
0
0
0||

0
0
0
0
0
890.00
0
0
0
0
0
75.00||| |**Total** **Expenditure 1,773.00**||**0**||**0**|**1773.00**|**965.00**| |||||||| |**Gains/Losses on Investment assets: 0**
Net income / (expenditure)
resources before transfer**10,227.3**||**0**
**0**||**0**
**0**
**0**
**0**
**10,227.3**
**328.04**||| |**Transfers**||| |---|---|---| |Gross transfers between funds - in||| |Gross transfers between funds - out||| |Other recognised Gain/losses||| |Net movement in funds||| |Total funds brought forward**10,227.3**|**10,227.3**|328.04| |Total funds carried forward**10,227.3**|**10,227.3**|328.04| ## **Balance sheet** Page 6 Total hndj (• Prior year funds (£) Fixed assets CuTrent Asset Cash at Bank and in 32&04 IOJSSJ4 Liabilitie5 Creditors: Amount falling due in one-year Net Current assets less current liabilities Funds of the Cbureh IOJSSJ4 328.04 The financ￿] staiemeDts wEre opwoved and authorisa fw by the 4)n 14th Feb 2022 arnl signed on thdr behalf by.. Evelyn E8bIr1￿rnhon. Treaw Page 7 ## **Statement of assets and liabilities** |**Statement of assets and liabilities**||| |---|---|---| |**Investments**
CBF
General fund (Unrestricted)
Development Fund (Designated)

Church House Charity no. (Restricted)
|
£
This year
Last year


0
0
0
0
0
0|| |||
0
0
0| Page 8 ## **Analysis of income and expenditure** Donations, tithes and offerings |Donations, tithes and offerings||||||| |---|---|---|---|---|---|---| |
IN002 - Planned Giving Gift Aid
IN003 - One-off gift aid
IN004 - Tax recovered
IN005 - Planned giving non gift aid
IN101 - General Collections
IN102 - Baptisms Weddings Funerals
**IN241 – Donations/Tithes/Offerings**
IN252 - Restricted special donations
IN311 - Seedtime to harvest
IN411 - Legacies

Total
|


|£
£
Unrestricted Designated
0
0
0
0
0
0
0
0
0
0
0
0
**12,740**
**0**
0
0
0
0
0

0
|£
Restricted
0
0
0
0
0
0
**0**
0
0
0
|£

Endowment
0
0
0
0
0
0
**0**
0
0
0
|£
Total
This year
0
0
0
0
0
0
**12,740**
0
0
0
|£

Last year
0
0
0
0
0
0
**1293.04**
0
0
0
| |||12,740
0|0|0|12,740|1294.04| ## **Income from charitable activities** |**Income from charitable activities**|||||| |---|---|---|---|---|---| |

IN501 - Magazine - adverts and sales
IN511 - Book Stall sales
IN521 - Church Lettings
IN531 - Theology Quest and Questio
Total|Unrestricted Designated
0
0
0
0
0
0
0
0
|Restricted
0
0
0
0
|Endowment
0
0
0
0
|Total
This year
0
0
0
0
|
Last year
0
0
0
0
| ||0

0
|0
|0
|0
|0
| ## Other trading activities |

IN361 - Fundraising


Total|Unrestricted Designated
0

0
|Restricted
0
|Endowment
0
|Total
This year
0
|
Last year
0
| |---|---|---|---|---|---| ||0

0
|0
|0
|0
|0
| |
Investments


IN731 - Income from Investments
IN732 - Income from investments
restricted

Total|Unrestricted Designated
0
0
0

0
|Restricted
0
0
|Endowment
0
0
|Total
This year
0
0
|
Last year
0
0
| ||0
0|0|0|0|0| Page 9 ## **Main Expenditure** |**Main Expenditure**||| |---|---|---| |EX101 – Payment of rented place for the church services
EX102 – Refreshments after Sundays services
EX103 – December Rent for newly acquired place
EX104 – Transport fare (New members/visitors to church without means of
transportation)
EX105 – Feeding homeless|Total
This year
1080
100
593
0
0|Last year
890
75
0
0
0| |**GRAND TOTAL**|1773|965| Page 10 ## **Notes for the transactions** The Living God Gospel Church, to the financial statements 31 December 2021 - 1 Summary of significant accounting policies ## (a) General information and basis of preparation - The Living God Gospel Church, Bristol is a registered charity in England within the United Kingdom. The nature of the charity’s operations and principal activities are that of a corporate body established by the Church of England. - The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014(as updated through Update Bulletin 1 published on 2 February 2016), the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. - The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £. - The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## (b) Funds - Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Endowment funds represent those assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund. The accounts include all transactions, assets and liabilities for which the trustee is responsible. They do not include the accounts of church groups that owe their main allegiance to another body, nor those where the funds are the property of the individual members, nor of connected charities which benefit the church, but which are responsible for their own accounts. ## (c) Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received. Page 11 For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. - No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established. Other income includes the conversion of endowment funds into income which arises when capital funds are released to an income fund from expendable endowments or when a charity has authority to adopt a total return approach to its permanent endowment fund. ## (d) Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: - Costs of raising funds; - Expenditure on charitable activities; and - Other expenditure represents those items not falling into the categories above. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity. ## (e) Investments Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SOFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment. - (f) Debtors and creditors receivable / payable within one year Page 12 Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. ## DESIGNATED FUNDS Development Fund – Currently there are no Development Funds, but this fund will gather paste next financial year. ## RESTRICTED FUNDS Reordering Fund - Currently there are no Reordering Funds. Donations for External Causes – there was no collections made for these purposes in the accounting year scope. ## ENDOWMENT FUNDS Currently there are no Endowment Funds. Page 13