Charity No.1191694 Llvlng Word Agsomblies of God Wolverhampton Trustees Report and Flnanclal Statement As of 31 December 2024. Living Word Assemblles of God Wolverhampton Intormatlon TRUSTEES Mrstephen GharteyQuaye Mr EmmanuelTakyi Mr Patrick Asiamah REGISTERED OFFICE 22 Skinner Street Wolverhampton VIVI 4LD CHARITY NUMBER 1191694 ACCOUNTANTS EOAM SERVICES LIMITED 35 CONISTON COURT HARCOURT ROAD WALLINGTON. SURREY SM6 8AT Llving Word Assemblies of God Wolverhampton Contents Trustee's Report Church 8Ctivities Flnancial Review Independent Accountant's Report Statement of Financial Activities Statement of Financial position Notes to the Accounts 10-13 LIVINGWORD ASSEMBLIES OF GODWOLVERHAMPTON Trustee's Report Alms and objectlves. The principal objects of the charity are to advance Christianity en8blingas many people as possible toworship at ourchurch and to become part of our Christian community in London. When planning our activities forth8 year, we have considered the Charity Commisslon's guidance on public benefit and the specific guidance on charities forthe advancement of religion. We encourage ordinary people to live outtheirfaith as part of our Christlan communitythrough: • Worship and prayer: steadyingthe word of God to develop their knowledge and trust in Jesus Christ. • Providing pastoral care for people INing in the community. Missionaryand outreach work Summary ofthe maln achlevements duringthe perlod: Worship, Prayer and studying ofthe word of God. Livingword Assemblies of God as a ministry has continued to encourage the members to worship and show love to their community. We have programmes duringweekd8yS and weekends. Prayers are also offered through home cells or house groups, focusing on individu81 needs. This system of approach has in our opinion brought a lot of spiritual and social benefitsto the community. The Worship Ministryof the church has the vision offocusingfirst on God and secondly on servingthe needs ofthe congregation. We seek to combine different talents in the church in vibrant worship services. concerts and speci81 events. Our mission is to reach the youth. the locals and the entire communlty. Pastoral and care: Th6 trustees have ensured that every mernber of Living Word Assemblies of God Trust h8s been attended tothroughout the year. The Church's strong pastor8lteam ensures that counselling and moral guidance is rolled out effectively. P8Storal care is given underthe strums of counselling, career and education. Teaching programmes are scheduled throughout the year in partnership with other ministrie8 in the community. Members of Livingword Assemblies of God Trust are encouraged to contact the pastoral teams should they need any help. Mission and evangelism: As part of our ministry, we have cultivated a rnission of helpingthe needy. Thisweterm Love"Samarit8n Mission-. We endeavour to help locally and intemationally. Livlng Word Assemblles of God Wolverhampton Church Activities of Public Benefit In addition to the generalachievements mentioned above. the following specific activities which we deem fit for public benefits were undertaken during the year. al Supply of Relief items to our Local Food Bankfor economically disadvantaged people. b} Ministrytofemale Carers in the community during Intemationalwomen's Day. cl Youth Singing Classes. d) Musical instruments training classes foryoungpeople. el Annual Black History Month Actlvitieswhich seekto getthe communityfurther acquainted with the Black Culture. tl Participated in activities organised by othercharities in the local community. g) Prisons outreach which includes an occasionalvisitto HM Wolverhampton prlsons. The charity's policy on reserv88 We aim to build up reserves to be prepared for unforeseen expenses. We would lik8 to hold 3 months of running expenses in reserves. Exemptions Th8 trust88s have taken advantage of the exemptions available to small companies, including the audit exemption (see statement on the balance sheet) Llvlngword Assembiles of God Wolverhampton Flnancial review duringthe year The total incoming resources ofthe church duringthe ye8r8mounted to £49030.47 (2023 £47528). Which was derived frorn general ttthes and offerings from members. The total resources expended in the year amounted to £48072.67 {2023 £425961 leaving a net inflowof £957.8 {2023 infLow£4930}. The accumulated surplus amounts to £5887.8. Funds No part ofthefunds of the church is underany form of restriction. Statement of flnanclal responslbllltles of the trustees. Law applicable to ch8ritie8 in England 8ndWales requires the trustees as managing trustees to prepare financial statements for each financial year. In preparing those financi818tatemenls. the trustees should follow best practices. l. select suitable accounting policies and then applythem Consistently. 11. rnakejudgementand estimates that 8re reasonable and prudent. 111. state whether applicable accounting standards have been followed 8ubjecttO any material8 departures disclosed and explained in the financial statements. IV. preparingthe financial statements on a going concern basis unless it is Inappropriate to presumethatthe church will continue in business. The Board ofTrustees is responsiblefor keeping properaccountingrecords. which disclose with reasonable accur8cy at anytime the financial position of the church and enable them to ensure that thefinancial statements complywith the Charities Act 1993 and the Charities (Accounts and Reports) Regulation 1995. Theyare also responsible for safeguardingthe assets ofthe church. Signed on behalf of the charity's trustees: Date: 3111012025 Llvlng Word Assemblies ot God Wolverhampton IndependentAccountant's Report I report on the accounts forthe year ended 31 December2024which are set out on pages 8t0 15. Respectlve responsibillti8s ol trustees and examlner. The charity's trustees considerthat an audit is not required forthisyear (under section 43121 ofthe Charities Act 1993 (theAct) and that an independent examination is needed. It is my responsibilityto: Examine the accounts (under section 43 of theAct}, followthe procedures laid down in the Gener81 Directions given bythe Charity Commission lund8rsection 4317llb) ofthe Act). and state whether m8tt8rs have come to my attention. Basls of Independent examiner's report My examination was carried out by General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and comparison of the accounts presented with those records. St also includes consideration of any unusual items or disclosures in the accounts 8nd seeking expl8n8tions from the trustees concerning any such matters. The procedures undertaken do not provide 8llthe evidence that would be required in 8n audit. and consequently, no opinion is given asto whether the accounts present a'true and fair Vlew. and the report is limited to those matters set out in the statement below. Independent examlner's gtstement During my examination. no matter has corne to my attention: 16. which gives me reasonable cause to believe that in. any material respect, the requirements: to keep accounting records by section 41 ofthe Act, and to prepare accounts which accord with the accounting records and complywith the accounting requirements of the 1993 Act" has not been met: or 2. to which, in myopinion. attention should be drawn to enable a proper understanding of the accounts to be reached. MrERICADJEI Signature: EA Date: 3111012025 EOAM SERVICES LIMITED 35 Coniston court. Harcourt Road Wallington Surrey SM6 8AT UVINGWORDA8SEMBLIESOFGODWOLVERHAMPTON STATEMENTOFFINANCIALAC7MTIESllTreiud1￿ In¢oMe￿d ExpendltureA¢¢outhl Fortheyearended 31 D¢c*mber2024 2024 2023 NOIES UNRESTFUNDS TOTAL FUNDS TOTAL FUNDS INCOMINO RESOURCES In¢omlrtqre50urcesfrorn gen•rnllunds: Voluntary income Tlthes & offering Bulldlngfunds etc TOTAL INCOME 4￿30.47 47S26 49)￿.47 47526 EXPENDITURE Expendlture on charltable actfvltles Otherexpendltu 48072.67 48073 42596 Net Income and net movement In funds 957.8 957.8 RECONCIUATION OF FUNDS Brouglitforward 4930 Total Funuscarleil foThYdrO 5887.8 S887.8 4930 The ststementof Flnanelal actlvlts.es Included augalrts and105ses recognlsed In theyearAiI Incomeand expenditure derfve from eontinuin8 activities. LIVING WORD ASSEMBLIES OF GOD WOLVERHAMPTON STATEMENTOF FINANCIALPOSITIONASAT31 DECEMBER2024 2024 2023 NOTES £ CURRENT ASSETS Cash at bank and in hand 16026 Credltors: Amuntfallingdue within oneyear Net current assets 18646 16026 Total assets less current Ilabllltles 18646 16026 Net Assets 18646 16026 Funds of the charlty Unrestricted 18646 16026 Total Charlty Funds 12 18646 16026 These flnanclal statements were approved by the board of trustees and authorised for issue on 31 December 2024. and signed on behalf ofthe board by (Chairl LIVING WORD ASSEMBLIES OFGODWOLVERHAMPTON Notes to the Financial Statements for year ended 31 December 2024 l. General Informatlon The carlty is a public benefit entity and a reOstere(J charity In En8tsnd and Wales and is unincorporated. The address of the principal office is 22 skn.nner streetwolveihampton. WVI 4LD 2. Statement ol compllance These flnanclal statements have been prepare(J in compliance FRS 102. The Financial Reporting standard applicable in the UK and the Repubknc of Ireland . The statement of recommended piactlce appllcable to Charities preparing their accounts in accordance ￿th the Flnancial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021{Charities SORP IFRS 1021 and Ihe Charities Act 2011. Accounllng pollcles and Basls of preparatlon The flnanclal have been prepared on the hlstorical ¢ost basls. as modified bythe revaluation of certain financial assets, liabilities and investment properts.es measured at fairvalue through income or expendlture. The flnancial statement have been prepared in sterknng. which is the functional currency ol the entlty Golng concern There are no materlal uncertalntyabout the charitys abiiityto continue Fund a¢countlng Unrestrltted fund are available for use atthe Ulscretlon of the trustees to further any of the charity's purposes. Designated funds are unfestricted funds earmarked bythe trustees for particular luture projects or commltment Restrlcted lunds are subjected to restrictions on their expenditure declared by the donor or through the terms ol an appeal, and fall Into one ol two wbsthls￿1fr4YraCl1cJ1t0ffjeOSU￿retiabielnwh}ch casethevaiL* 15 dwivedfromthe c0sttothedoTh)rorthets￿rna￿1f8sa￿ya￿. Donatedlaclbttesar¥J SthceSa￿1ecoln1sed Inihe accouniswhen recth*d itlhevaluecanbe reUabiymeasuFed. NoamDuni ale I￿1￿yedIOrthe ¢(*WtrJubwolgerEral¥olunteers . Incometrom contractsfoithesupplyof swvkeslsreco¢n15edwththeleU¥*ryolthecontracted*Mce. Theisciassth"edas unrestricied lunds unless Ih¥elsacoMraclual¥e4ulremenifvrltto tse¥￿ onapartlculerpurp05e ar¥J r•iurned Wunwt. in which¢a$e itmay beregarded as r8strtcted. Re8tyJK•s•xwnd•d ExkwndKurels iecognlsed on an accruaL8 basL8asa wiiiry151ncufftyJ. ExwoiwrelncithanyVATwhlchcanTrJtbefuityrecovered. and Isclasslfled unOerhe3dlng5 01th• #aiementol Ilna¢KlalacttrffjWto*thl¢hrt related. . Expendltuie on iatslngiundsirfiudesihecoaot?illunthatsbiadi¥lt*s. rt.fMcharitat4etr8thr¥actMtlei. and the sale oloonated goods ExwndiiurewchariiatAeactMii•skncludos ail cosi kncwrtd tya ch8rtylnU￿lerta￿.nx￿I￿oesth&t1￿th￿1lsCh￿llblea1Msf0rth9 benefiiol Ks benellcl3rle51rKIudlngthosesupr￿ c05tsandtP¥)serdoUngi0th•gth*oa￿e0f￿echa1[ty8pEW￿0ntrtt0 ch•rltabie acti￿1111 . Oth8rèxwndRurelncludesailexk*rthJroih8iisnetthEf rttstedioraWn8knd5tortheehknnorpartof tsèxpefvjrtureon Charl￿bleactI￿tIoS Ail cosi areailocated to exFendlluro¢aiegorle$ rel￿￿n1th0 useottheiesourte. Dlrettcosi aitrlbwabietoas*n8lèactMtyareallocated dIr￿llY to Ihai aCtI￿ty. Sharedcost arèapportloned beTh¥eent￿a¢tr1*Ie$lhWcC￿r￿UteOtO ona reasonatae.Ju5tfftabieandcoftslstent basls Flnin¢l•llhstwm•nts Aflnancialassit$ oraflnanclalllabllityi$ recogn1￿￿ onlywhtothecharfiyb*omesa partytOIhe¢onractuai￿5I￿Ol1boInStrYffleTht. Ba51c iknan¢lalln*rumentsaie Inttiaify ￿0￿nISed aiihe amountiec*48bleorpayabieincluthn8aryrelated transacuon¢o Curr•ni assetsand cwrenlllablillk$aie Subsequthmea￿0wtr￿C?ShortheicO￿￿jWthn exWedlo￿P8ld0r1e¢￿ved3Thj notdlscounted.Debllnstrumerts8resubsequenttymea￿Wed aiamonisedctsst. whe￿ investmentsln sharesarepubktyIrad￿ ortheirfali¥aiuecan otheTh*sobe meawredreuablythe Ir%wment Issub5equently measvredai falrvaluevllh changes inthef*rYdluereCo￿$ed In Income a￿1 eX￿￿dI[Ure.Allo￿ersUchlnYeslMWt&￿sUbsequen1ly measured atCOSlless Impaiment. li LIVING WORD ASSEMBLIES OF GOD WOLVERHAMPTON Not•s to the Flnanclal statemerts ft*rtheyearended 31 December2024 Flnanelal instrumentsconunued OtherfiTrancial instruments including deriwdtes are InttialtyrecoKnlse(J atfairvalue unless payment loran asset Is defferred beyond normal bustne55 term5 orfinèncial ai a raie ol intefe5t thal 15 not a marf¢et value in which case the asset Is measured atthe preserrtvalue of the iwure pa￿entsdisC0U￿t8f1 ata Ma￿ ra￿ of interestfor a simliaidebt instrument Otherflnancial instruments are subsequefflty measured atlairvalue￿th any changes recoqnised In the statementof flnanclal actlvStles vthh the exception of hedwne instruments in adesidnated hedW'n¢relatsonship. Flnanclal assetsthat measured at costor amortlsed cost are revlewed loroble¢tfibt ￿￿ence otlmpairmentatthe end of each reporting date. If the￿ Ssobiectfve ewdence ol impalm*N an Impa[m￿ntIosS I$Tecogn15ed underthe approprtated heaalng In the statement offlnanclal actfvities in wthich the inr(ial galn was recognised. For all equlty Insirument re8ardl85s of $18nlficance and otherllnancial asset5 thal awe Indi￿dI1a1ty signllicant are assessed Indlvldually lor impairmem. otheillnancial assets areeitherassessed inL1MiJualty or4rouW onlhe basis ol &'mliar credlt rlsk ¢haracterlstlts. Any reversals ol irnpalrmenl are recognised immedlatetytothe extent Ihatthe reversaldoes not result In a canyng amount of the flnancial asset that exceedswhatthe Carr￿ng0MUrt *fjuld have been had the Impalrment not prwously been recognlsed. 4. Donatlon and Legacles 2023 Unrtstrf¢ted lund$ DonatSons Offerings Sundaysch books Tithes Wellarg Thanksgmng Seeo Pledges Annual Harve Others 250 16300 100 I￿00 3500 2000 1500 iioo 2800 976 17320 320 20557 17320 320 20557 1070 1425.4 916.5 36C6.5 815 1070 1425.4 916.5 815 47526 LMNGWORDAS5EMBUESOFGODWOLVERHAMPTON Noie$tothellnanclalst8tementsJWr￿dtd3l0e¢embe12424 S Expendltureon¢haiiiabi•athAd•$ bYlw￿typ¢ 2023 Totsifur#l Totslfvnd nd Sypport¢osi 7440 7440 7440 11077 Welfare Tran5POrtallon Brtstow Eneif Glftanl OOh￿kIn Clwjrch & Oftlc¢lAIRI E.On next 4231 3806AI 1095.7 1095.74 7.84 2067.35 4160 Otherexp•ndlluie 7. Audllors r•mun•raiion.'Ther•ls v*Aud*oi r•mun•TAth 8St•ti ¢ost.' Th• •wrag• numberolempl0yeesdtsr1￿thtYèaf￿aS rAI No•mpioyees reeekndefflployee beneffts ol morethan£6OOOOdiw*¥ih•>ww 9. TW$t•￿I•m￿N•r•IIon4nd Exp•0$￿. io Cr•dttorn:AmountloUbn8duewlthlnon•y•ar Accwuats¥ndfl•tsrrnd Incon)• 11.Analyslsofthoriiabt•lunds: funds 3110112024 In¢ome Expendltyre Goneiai Funds 18027 49030A7 48073 Geneioi Funds 11097 16027 12.An•lysl$of hanps In notdebl C•shllow 3UOV2024 Cashatbank and In Iwnd 2&￿