ANNUAL REPORT
FOR YEAR ENDING 2023
LIVING GOD GOSPEL CHURCH REGISTERED CHARITY NUMBER: 1191093. UNIT 5 BRABAZON OFFICE PARK, GOLF COURSE LANE, FILTON, BRISTOL BS34 7PZ.
Table of Contents
| Table of Contents | |
|---|---|
| Living God Gospel Church Annual Report 2023 | 2 |
| Reference and Administration | 2 |
| Objectives and Activities | 2 |
| Achievements and Performance | 3 |
| Financial Review | 4 |
| Brief Statement of the Charities Policy on Reserves | 4 |
| Investment Reserve Policy | 4 |
| Structure Governance and Management | 4 |
| Conclusion | 4 |
| Financial Statements | 5 |
| Statement of Financial Activities | 5 |
| Balance Sheet as of December 31st, 2023 | 5 |
| Statement of Assets and Liabilities | 5 |
| Analysis of Income | 6 |
| Analysis of Expenditure | 6 |
| Notes to the Financial Statements | 7 |
Living God Gospel Church, Filton, Bristol, UK. Financial Report 2023
Living God Gospel Church Annual Report 2023
The Trustees present their report and the audited financial statements of the charity for the year ended 31 December 2023. 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 a Registered Charity (no. 1191093) situated in Unit 5 Brabazon Office Park, Golf Course Lane, Filton, Bristol BS34 7PZ. 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:
| the date of this report were: | ||
|---|---|---|
| Incumbent | Pastor Michael Nwaki (Chair) | |
| Church Worker Committee | Mrs. Evelyn Egbirhemhon (Treasurer) Mr Martin Ritchings (Assistant Treasurer) Evangelist Andrew Benson Egbirhemhon Mrs. Eunice Nwaki |
|
| Church Board of Trustee | Pastor Michael Nwaki Evangelist Andrew Benson Egbirhemhon Mrs. Jacqueline Fensome Mrs. Eunice Nwaki (Secretary) |
|
| Banker | Lloyds Bank PLC, Bristol, United Kingdom | |
| Correspondence Address | Unit 5 Brabazon Office Park Golf Course Lane, Filton Bristol BS34 7PZ |
Objectives and Activities
The primary objective of Living God Gospel Church is established in the advancement of the Christian Faith, in accordance with the Statement of Beliefs in the Constitution, for the benefit of the public in the United Kingdom and elsewhere.
To fulfil this objective at the basic level, regular prayer meetings are held throughout the year where Living God Gospel Church members and others interested can worship, pray, receive teaching, and participate in discussions of the faith. In addition to this, various other activities and events were also held throughout the year. These activities are listed in the Achievements and Performance section.
All activities and events are available to Christians and non-Christians, regardless of whether they are members or not, everyone is welcome.
________________ Living God Gospel Church, Filton, Bristol, UK. Financial Report 2023
Achievements and Performance
There have been notable achievements throughout the past, below shows how each one was achieved in line with our objectives as a Charity:
-
1) Advance education based on Christian principles:
-
a) Sustaining our weekly meetings: “Living in the Spirit” Wednesday Bible Studies, Friday Evening Prayer Meetings, and Sunday Worship Services, all seeing growth in attendance.
-
b) Various meetings and conferences were organised during the year to promote the Christian Faith including Women’s Day Service, Easter Conference, Prayer Conference, Thanksgiving Service, Christmas Day Service and Watch Night “Crossover” Service.
-
c) The Evangelism team regularly go out and preach the Gospel in a variety of locations, including streets and shopping centres, distributing literature on the Christian faith to enlighten others about Christianity. Progress is currently being made towards producing our very own literature on the Christian faith.
-
d) Our Christmas Carol is a free annual music-centred event that essentially hosts an evening of praise, worship, and prayers to celebrate Christ in the city of Bristol. Our Christmas Carol is also an avenue for bringing people of diverse backgrounds and cultures from across the UK to celebrate our faith in Jesus Christ as the Saviour of the world whilst also encouraging community cohesion. This is also targeted at the vulnerable in the society, ensuring that they experience the Love of God during the Christmas season, with a buffet to feed all those in attendance.
-
2) Bringing Hope to the Community: Several activities throughout the year were planned with the community cohesion in mind.
-
a) The Suicide Hotline continues to run for those in need of this. This charity aims to be part of the solution with regards to the suicide rate in the nation of United Kingdom.
-
b) Following the success of our Men’s Fellowship, Women’s Breakfast was organised in March for the benefit of Women’s Mental Health. This provided an opportunity for those who may be experiencing loneliness to socialise, and bond with others within the local community. We also increased the frequency of our Men’s Breakfast, holding a total of 3 this year.
-
c) Unfortunately, we couldn’t partake in previous events we held last year such as our regular Annual Family Outing or attending the local Universities Freshers’ Fair. This was generally due to lack of funds and as a result prioritising the rent of the location was necessary; this essentially provides the charity with the required based needed to achieve the basic form of bringing hope to the community, by providing a place of worship, prayer, and study for the propagation of the Christian Faith.
-
3) The prevention or relief of poverty through organised effective courses:
-
a) Our successful programming bootcamp was held in the summer of the past year once again, with the course being enhanced and all those in attendance completed the course. We have been engaging with the opportunities to collaborate with other organisations and provide the funding necessary to enhance this course further in terms of specification and reach.
-
b) The church continues to provide pastoral care physically, spiritually, and emotionally for its entire congregation, and many from outside the church. In our Sunday Services, we continue to see needs met as we pray corporately for health, financial and family issues.
________________ Living God Gospel Church, Filton, Bristol, UK. Financial Report 2023
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 together with the gift aid claimed by 31st of December 2023, stood at a total of £28,443.57 (twenty-eight thousand, four hundred and forty-three pounds and fifty-seven pence only). In the same year, the total expenses of the church amounted to a total of £34,312.97 (thirty-four thousand, three hundred and twelve pounds and ninety-seven pence only). Overall, this year, we had a total net spend of £5,869.40 (five thousand, eight hundred and sixty-nine pounds and forty pence only).
Brief Statement of the Charities Policy on Reserves
The Trustee may have care of several types of funds.
-
General – those available by any means and accessible to be used for the general purposes of the church. As of 31 December 2023, General funds amounted to minus £5,869.40.
-
Designated – none.
-
Restricted – none.
-
Endowment – none (2023: £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. Many of these activities are severely underfunded, and future plans include expanding access to this programming bootcamp to further provide skills, preparing youth for the working environment.
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 oversee and regulate the overall church activities.
The Board of Trustee appoints several volunteers on the committee. 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 unrecognised significant financial benefits but is much concerned with our sense of community, affirming faith, and exercising the mission and ministry of the whole people of God.
Signed on Behalf of Charity Trustees
Name: Michael Nwaki_ Position: __Chair, Board of trustee__
Signe d:_ _ Date: 20/02/2024_____
________________ Living God Gospel Church, Filton, Bristol, UK. Financial Report 2023
Financial Statements
Statement of Financial Activities
| Unrestricted Funds (£) |
Restricted Funds (£) |
Endowment Funds (£) |
Total Funds (£) |
Prior Year Total Funds (£) |
|
|---|---|---|---|---|---|
| Income | |||||
| Donations, Tithe and Offering |
16,201.57 | 0.00 | 0.00 | 16,201.57 | 37,792.44 |
| Charitable Activities |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Trading Activities |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Income | 12,242.00 | 0.00 | 0.00 | 12,242.00 | 0.00 |
| Total Income | 28,443.57 | 0.00 | 0.00 | 28,443.57 | 37,792.44 |
| Expenditure | |||||
| Hall Hire / Rentage |
22,000.18 | 0.00 | 0.00 | 22,000.18 | 20,842.50 |
| Service Charge | 6,250.00 | 0.00 | 0.00 | 6,250.00 | 8,386.16 |
| Charitable Activities |
6,062.79 | 0.00 | 0.00 | 6,062.79 | 12,528.53 |
| Others | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Expenditure |
34,312.97 | 0.00 | 0.00 | 34,312.97 | 41,757.19 |
| Gains/Losses on Investment Assets | |||||
| Gross transfer between funds (in) |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross transfer between funds (out) |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other recognised gains/losses |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Movement in Funds |
0.00 | 0.00 | 0.00 | -5,869.40 | -3,964.75 |
| Total Funds Brought Forward |
0.00 | 0.00 | 0.00 | 6,590.29 | 10,555.04 |
| Total Funds Carried Forward |
0.00 | 0.00 | 0.00 | 720.89 | 6,590.29 |
Balance Sheet as of December 31[st] , 2023
| Total Funds (£) | Prior Year Funds (£) | |
|---|---|---|
| Fixed Assets (Investments) | 0.00 | 0.00 |
| Current Asset (Cash at Bank or in-hand) |
720.89 | 6,590.29 |
| Liabilities: Creditors (Amount falling due in one-year) |
0.00 | 0.00 |
| Net Current Assets less current Liabilities | 0.00 | 0.00 |
| Funds of Church | 720.89 | 6,590.29 |
Statement of Assets and Liabilities
INVESTMENTS THIS YEAR (£) LAST YEAR (£)
________________ Living God Gospel Church, Filton, Bristol, UK. Financial Report 2023
| **GENERALFUNDS(UNRESTRICTED) ** | 0.00 | 0.00 |
|---|---|---|
| **DEVELOPMENTFUND(DESIGNATED) ** | 0.00 | 0.00 |
| **CHURCHHOUSECHARITYNO. (RESTRICTED) ** | 0.00 | 0.00 |
| TOTAL | 0.00 | 0.00 |
Anal sis of Income y
| Unrestricted Funds (£) |
Restricted Funds (£) |
Endowment Funds (£) |
Total Funds (£) |
Prior Year Total Funds (£) |
|
|---|---|---|---|---|---|
| Book Stall Sales | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Church Lettings | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Donations, Tithe and Offering |
16,201.57 | 0.00 | 0.00 | 16,201.57 | 37,792.44 |
| Food Bank Sales |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Funding | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gift Aid | 12,242.00 | 0.00 | 0.00 | 12,242.00 | 0.00 |
| Grant (HMRC) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Tax Recovered | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total | 28,443.57 | 0.00 | 0.00 | 28,443.57 | 37,792.44 |
Anal sis of Ex enditure y p
| Unrestricte d Funds (£) |
Restricted Funds (£) |
Endowmen t Funds (£) |
Total Funds (£) |
Prior Year Total Funds (£) |
|
|---|---|---|---|---|---|
| Hire / Rentage | 22,000.18 | 0.00 | 0.00 | 22,000.18 | 20,842.50 |
| Service Charge | 6,250.00 | 0.00 | 0.00 | 6,250.00 | 8,386.16 |
| Employee Costs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Charitable Activities | |||||
| Christmas Carol | 1,857.98 | 0.00 | 0.00 | 1,833.67 | 5,110.45 |
| Conferences & Ministry |
2,902.53 | 0.00 | 0.00 | 2,962.63 | 5,251.91 |
| Donations | 50.00 | 0.00 | 0.00 | 50.00 | n/a |
| Evangelism / Outreach |
56.24 | 0.00 | 0.00 | 56.24 | 33.44 |
| Men’s/Women’s Fellowship |
150.68 | 0.00 | 0.00 | 150.68 | 90.00 |
| Programming Bootcamp |
175.81 | 0.00 | 0.00 | 175.81 | 150.00 |
| Publicity and Marketing |
365.71 | 0.00 | 0.00 | 365.71 | 1,168.73 |
| Sunday Service Refreshments |
468.05 | 0.00 | 0.00 | 468.05 | 624.00 |
| Total | 34,312.97 | 0.00 | 0.00 | 34,312.97 | 41,757.19 |
The Financial Statements were approved by the Trustees on __20/02/2023.
Signed : Name: Andrew B. Egbirhemhon _ Position: Board of trustee
Signed: ___
__ Name: _Michael Nwaki__ Position: __Board of trustee
________________ Living God Gospel Church, Filton, Bristol, UK. Financial Report 2023
Notes to the Financial Statements
The Living God Gospel Church, to the financial statements 31 December 2023.
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
________________ Living God Gospel Church, Filton, Bristol, UK. Financial Report 2023
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.
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 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
________________ Living God Gospel Church, Filton, Bristol, UK. Financial Report 2023
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
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 next financial year.
RESTRICTED FUNDS
Reordering Fund - Currently there are no Reordering Funds.
Donations for External Causes – there were no collections made for these purposes in the accounting year scope.
ENDOWMENT FUNDS
Currently there are no Endowment Funds.
________________ Living God Gospel Church, Filton, Bristol, UK. Financial Report 2023