2022-12-31-accounts - Great Light Church Ltd

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

The trustees present their	The trustees present their	report and the financial statements ended 31"December 2022.	report and the financial statements ended 31"December 2022.	ofthe charity	for the year
Reference ai!d administrauve		details
Registered charity	name	Great Light Church	Limited
Charity Registration	number	1193487
Company Number		09915575
Principle Ofgce		56Marsh Wall
		London
		E149TP
The Trustees		Mrs Adebimpe Ogunleye
		Mr Hafis Joel Raji
		ADERIN, Adetunji	Babatunde
		MAKU, Jane Adesuyi
Auditor		Wensky Services
		Certified Charted Accountant		&Registered	Auditor
		3rd Floor 86,
		90Paul St,
		London
		EC2A 4NE
Bank		Barclays Bank PLC
		Leicester
		LE872BB

Signature	of	director	authenticating	accounts	being	sent	to	Companies	Signature	Date dd/mm/
			House
										Print name

Rscagnlfion	Rscagnlfion		ofIncome	These are induded W the Statement ofFinandal A tiviTies (SCFA) when:
				the charily becomes sntiged tothe wsources;
				it W more Ikelv than not that the trustees wll receive the resources;			No*	N/a*
				the monetary value csn be measumd with sufiident mkabRv.
				There hes been no ofisafiug of assets snd fiablilies, or income snd expanses,
				unuse required or pemrltted by the FRS102SORP or FRS102.
Grants and		donations		Grants end donations am only included in the SoFA when the general Wcome recognition cnteris we nwt (5.10to 5.12FRS102SORP)		Yes	No	N/a'
				In the case ofperformance related granm, income must only be recognised tothe
				extant that the charity has provided the specrTwd goods orservices as enmwment
				to tha grant only occurs when ths perfomwnce related condmons ars mst (5.16
				FRS102SORP).
				Legacies are induded in ths SOFA when receipt ispmbable, that is, when there
Legasles				has been grant of pmbate, the executors have established that there are sugcient asseis in the estate snd any conditions attached to the legacy are ether
				within the control ofthe chadtv orhave been met.
Government			grants	The charily has mceived government grants in the rsportng period
				Gift Aid receivable is mended in income when there isavail dedarafion from the
Tax mclalms			on donafions	donor. Any Gilt Aid amount rscovs/sd on a donafion is considered to be pelt of
and gula				that gfit and istmated as sn sddiTion to Ihe same fund as the initial donation
				unuse the donor orthe terms ofthe appeal have specned otherwue.
Contractual performanse		income and related gmnls		This is only incuded in the SoFAonce the charily has provided the wlated goods orssnrices or mei the performance muted condivons.		Yes	No'	N/a*
Donated	goods			Donated goods sre measured at fair value (ths amount forwhich the assai could bs exchanged) unless impmctkml to do so.
				The cost ofany stock ofgoods donated for distdbutlon to beneficiaries isdeemed
				to be the fair value ofthose gus atthe time oftheir receipt and they sre
				recognised on receipt In the reporting pedod In which the stocks ars distnbutsd,
				they am recognised as an expense at the canying amount ofths slorriw at
				Donated goods for /casu are measured at fair value on Initial recognibon, which	b
				the expected pm ca ada fram san Wss the expected costs ofsan, and recognised
				in 'Income from other trading acbvilies' wkh the conssponding stock recognised	in
				the beuncs sheet. On ils sale the value ofalone is charged against 'Income fiom
				othertrsdlng activities' and the pmceedseom sale are awo recognised as
				'Innnme from other trading ncbvuast
				Goods donated foronsoing use by the chartly am recognised as tangible tued
				assets and indudsd in the SoFAas incoming resources when mceivable.
				Gilts vr kind for uss by the charily are incmded in the SOFAas income f/nm
				donsfions when receivable.
Donated services and fsaglfiss				Donated services and faciliTies are indudad in the SOFA when recshsd atthe vaWC ofths gfit to ths chanty provided ths value ofIhe grit can be measured ratably.		Yes*	No*	hya
				Donated senrices snd facuies that ere consumed immediately am recognised as		Yes*	No	N/a'
				income with an equivannt amount mcognised as an expense under the
				appnrpriate heeding n the SOFA
5irpport costs				The chariiy has incuned expenditure on support coals.
Vclrrrrlaar	help			The value ofany vauntery help received is not indud ed in the accounts but is desoibed in 5re ln/stees' annual report.

										nsstrlstsd
Donagons	Donshons and	Analysis ilts			ofincome				Unrsstrl saxi Ssds	inssms rwds	Endanmsnt risnh	Taku funds f		Prior year f
and legacies:	b acies								40857			40857
	General grants		provided		by government/other
	charities
	Membership subscripbons					and	sponsorships							27	430
	which are in substance			donations
	Donated oods		facilities		and services
	Other - First Fruit								2357			2	357
								Total	43,214			43	14	70	816
Charitable	Thanksgiving, Offering			and		Tithe
activltiesi	Jesus Conference								160191			160	191	201 876
												1	030	1370
	Other - Buildin		Fund							9275		9275		3404
							Total		161,221	9,275		170496
Other trading
activities:
	Other								1206			1206			76
							Total		1,206						76
Income from investments	Interest income Dividend income								13				13
	Rental and lessi		income
	Other
							Total		13				13
Separate
material Item
ofinaome
							Total
Ofhce	Conversion ofendowment				funds		inta income
	Gain on disposal		ofs tangible			fixed asset held for
	charily's own use
	Gain on disposal		ofs programme				related
	investment
	Royalties from the exploitation					of	intefsctusl
	properly rights
	Other
							Total
T0TALINCOME									205 654	9275		214929		277550
Other information:
Ag inoame in the prior year was unrestricted provide dsscripaon and amounts)					except for:(please			Jesus Conference —f1,370; BuiMing Fund -f3404; Thanksgmng, Offering and Tithe; —f43,215;and Grant- f27,430.Totally -775,420
Where any endowment fimd ls converted				into income in the
reporting period,	please give Ihe reason far				lhe conversion.
Where any endowment fund is converted				inln income In the prior
periad, please give the lesson for		gn! comrersion.
uuthln the income items above the fallowing (please disclose the nature, amount and arry					items prior		are materlah year amounts)	Jesus Conference -f1,370; Building Fund -f3,404; Thanksgiving, Offerlnc and Tithe; -f43,216;and Grant- f27,430.Totsty-f75,420
CC17s (Excel)															1 1f09/2023

Government	Government	grant 1				Descri	tion				This year f
Government		grant 2
Government		grant 3
Other
									Total
Government Government Government Government Government Other		grant 1 grant 2 grant 3 grant 4 grant 5	Coronavirus Coronavirus Coronavirus Coronavirus Coronavirus	Job Retention Job Retention Job Reienson Job Retenfion Job Retention		Descri Scheme Scheme Scheme Scheme Scheme	non				5486 5486 5486 5486 5486
									Totsi		27430
Please pmvide details ofany unfullilled				This	r				Last
conditions	and othercontingencies
attaching to		grants that have been
recognised	in income
				This					Last	ear
Please give	details ofother fonna of
government assistance fiom which the clrarlty has dimctly benefited.								Coronavirus	Job Retenaon		Scheme

Note 6	Expenditure	Expenditure	Expenditure	Expenditure
						This	year			Last	year
Analysis Ex endlture on raisin funds:					unrestricted funds	Restricted income fends	Endnwme nt finds	Tuel assai	tense/itch d funds	Restricted Illeeele funds	Endeeeeeld funds	Toter funds
Incurred seeking dona&one
Incurred seeking legacies
Incurred seeking grants
Operating membership	schemes		and social
lotteries
Staging fundraising events
Fudraising agents
Operating charily shops
Operating a trading company		undertaking
non-ch ritable tradin activ
Adver&sing, marketing,	direct	mail	and
publicity
Start up costs incurred	in generating			new
source offuture income
Database development	costs
Other trading activTiies
Investment management	costs:
Portfolio management costs
Cost ofobtaining
investment advice
Investment administra&on	costs
Intellectual property licencing		cosh
Rent collection, property	repairs and
maintenance charges					56491			56,491	71536			71536
Total expenditure
on raising funds								56491	71536			71536
Expenditure on charitable nctMttesi
Charitable and Poli&eel Donations
Welhre Expensee Evangelism Expenses Fellow UP Expenses					6750 13247			6750 13247	15701 15183			15701 15183
General Expenses Festival Of LifeExpenses Light Tt//GLC Studio					9978 300			9978	12476 1 100			12476 1 100
Choir Expenses Mission Expenses Pastoral Care					2465 2097	13500		2465 15597	27 077 550 9554	42 155		27077 51709
WEW					2000			2000				6460
Subscriptions
								502
Staff Training Retreat Expenses					2288			228&				63

HONORARIUM
Hospilalily		150		150	4600		4600
		750
ConsuEng
Adver5sing &Marke5ng Salaries		7513		7513	61		61
Cleaning		39600		39600	53691		53691
Telephone 5, Internet ITSoftware and Consumables		2992 2524		2992 2524	4590 2756		4590 2756
Travel					9309
Operating Lease Payments Insurance		6030 2057		6030 2057	4410 758		4410
Total expenditure on chadtable acthdties		5409 111596	13500	5409 125096	7391 169980	48615	7391 209287
Se arete material Item ofex	nse
Bank Fees
Printing &Stationery		214		1084 214	1 584 1 708		1 708
Total Other		1 298		1298			32g2
Audit &Accounianc fees Pensions Costs De recia5on Ex ense Em lo ers Nasonal Insurance Total other expenditure TOTAL EXPENDITURE		9550 21 109 190494	13500	9550 3829 21 109 203994	10800 975 7040 4065 22880 267 668	48615	10800 975 7040 4065 22880 306995

Description/name	Related party	Amount	Amount	Amount	'd out		Balance held at	Balance held at	eriod	end
	(YesorNo)	This	This	ear	Last	ar	This	ear	Last	ear
NIA
NIA
NIA
NIA
	Total

This	This	year.	year.	year.
13.1	Anal			sof	rants bald (included in cost ofcharitable			activities)
								Gmnts 'to
				Anal		ls	Grants to institus one	individuals	ort costs	Total
Actbl		Of	lO'	Ct 1
	'
Act'		Of	lO'	Ct2
Actm		Of	lo'	Ct3
A '	'	or	foect4
				Total

							Please pmvide
Ny charity has made grants		toparticular Instgugons	that am material		ln the		details ofchan'ty's
conhwt ofits gmntmaking.		Details ofthe lnsthulion	supported,	purpose ofthe			URL.
grant and total paid to each institution is available on the charity's web sihx						No	Pmvide details below
	Names ofinstitution						Total amount of
							grants paid 2
					NIA
		NIA			N/A
					NIA
					N/A
					NIA
Total grants to in	stitudons in mpofting period
Other onsnalysed	grants

				Feehold land a	Cuber land 8	Plant, machinery	Fixtues. gtgngs and	Total
				buildings	buudmgs	end motor	equipment
						vehicles
At the beginning		ofthe		1,620	1,752		32,053		35,425
year
Additions
Revaluations
Disposals
Transfers
At end of	the year			1,620	1,752		32,053		35,425
142Depreciation			and	impairments
			Basis	RB		RB		RB		Straight
										Line
										("SL")or
										Reducing
										Balance
										"RB"
			Rate	20%%uc	20%%uc	20%%uc	20%%uo
At beginning of		the year
Diagonals
Depreciation				324	350		6,411		7,085
Impairment
Transfers'
At end ofthe year				324			6,411		7,085
14.3Net book		value
Net book value		at	the	1,620	1,752		32,053		35,425
beginning	ofthe	year
Net book value		at	the	1296	1,402		2s,e42
end ofthe	year

			Research a	Patents and	Other	Total
			development	trademarks
At beginning	ofthe year
AddiTions
Disposals
Revaluations
Transfers *
At end ofthe	year
15.2Amortisation		and	impainnents
		Basis	SLor RB	SLor RB	SLor RB	SLor RB	Straight Line
							("SL")or
							Reducing
							Balance ("RB")
		Rate
At beginning	ofthe	year
Disposah
Amortisation
Impairment
Transfers*
At end ofyear
15.3Net book value
Net book value at		the
beginning of	the year
Net book value at		the
end ofthe year
15.4Accounting		policy
Please disclose the accounting policy				forintangible	fixed assets including:
Reasons forchoosing			amortisation
rates
Policies for	the recognition ofany
capital development

Note 16 Heritage assets
fyesse complete this note ifthe chadty has hwftage assets
16.1 General disclosures for all charities holding	heritage assets
	This year	Last year
(i) Explain the nature and scale of heritage assets held.		NIA
(ii) Explain the policy forthe
acquisition, preservation, management and disposal of		NIA
her/tage assets.

				Heritage	Heritage	Heritage	Her/Srge
				asset 1	asset 2	asset 3	asset 4
At beginning	ofthe	year
Addibons
Dispossls
Revaluations
Transfers *
At snd ofthe	year
16.3Depreciation		and impairments
			Basis					Straight Line
								("SL")or
								Reducing
								Balance ("RB")
			Rate
At beginning	ofthe	year
Disposals
Depreciation
Impairment
Transfers"
At end ofyear
16.4Net book value
Net book value at the beginning			ofthe
year
Net book value at the end ofthe			year

16.9Five year summary ofheritage	16.9Five year summary ofheritage	assets transactions
		2015	2014	2013	2012	2011
Purchases
Group A
Group B
Group C
Other
Donations
Group A
Group B
Group C
Other
Total additions
Charge for impairment
Group A
Group B
Group C
Other
Total charge for	impairment
Disposals
Group A - carrying	amount
Group B - carrying	amount
Group C
Other
Total disposals


Carrying (fair) value at	beginning ofperiod
Addi additions io investments		during
peri/xi
Less disposals at carrying value
Less impairm ecc
Add: Re venal of Impalrm em
Add/(deduct ):transfer	in/(out)	in the
period
Add/(dedmt ):net gain/(loss)		on
revaluation
Carrying (fair) value at	end ofyear

17.8Concessionary loans
			Description		This year E	last srE
Am omt ofconces donary loans m ale (bbdgpte loans
made may tm disclosed in aggregate provided inst such
sggregsgon does not obsare signigcsnt informs don).
		Tohd
Am omt ofconces Nonary loans reaived Iiuuigpie			Dsscription		This year E	Lest year E.
loans received msy be disclosed in aggregate provided ibstsuch sugmgelion does notobsum signiecsnt
informsdon).
		Total
			This ye ar		Last ye ar
Tems and conditions eg inb rest rab, secuhy
provided
Value ofany cencesNonary loans which have been
corn aim dort not bkenup at the raporgng dab
Am omts payable within 1ye ar
Am omis payable abr m orethsn 1year
Am omis re mivable within 1ye ar
Am omts re mivable abr m omthan 1ye ar
17.7Additional information
			This	sl'	Last esr
Pieme provide inbrm ation shout the significance investn enbb the chmi\r 's financial position or	of
pe rbrm an coeg. b rms and conditions of loans or	the
use ofhedging tr m snags financial risk.
Fordl investn enb m esued m SIrvalm, the basis
Sr deb mining the valm, induding any
as usn pitons applied whe nusing a valurt ion bchniqm.
Whe rea charltf has provided finencial asmb as a
Srm ofsecuhy, the carrying mn ount ofthe financial
as m tplsdged assecraig and the b rms and conditions rehting S its pledge.
For sir inveetn e num served at ir irvelre, the basis
Sr deb mining the valm, indudlng any
asam ptions applied whe nusing avalmt ion
bchniqm.
Whe rea charNy has provided financial assets as a
Srm ofse curNy, the carrying mn omt ofthe financial
asm tpledged as ascutg snd thebrms md conditions re hting b Its pledge.

				Donated	goods
						Work in
		For	Forresale	For	Forresale	progress
	distribution			distribution
Charitable	activities:
Opening
Added In period
Expansad	in period
Impalmd
Closing
Other trading activities:
Opening
Added In period
Expensad	in period
Impaired
Closing
Other.
Opening
Added In period
Expensad	in pariad
Impaired
Closing
Totalthis	year
Total previous year
			This	aar	Last	aar
18.2 Please specify the canying amount		ofany
stocks pledged as security for liabilities

			This year	Last year
				K
Trade debtom
Prepayments	and accrued income		2250.0	2250.0
Other debtors
		Total	2,250.0	2,250.0

Trade debtors
Prepayments	and accrued income
Other debtors

ed in	debtom above	)
	This year F	Last year f
Total

			Last	year
Please explain the reasons why incomeis
deferred.
/l//ovement	in defened income account		This year	Last year
Balance	at the start ofthe mporting	period
Amounts	added in current period
Amounts	released to income from	previous periods
Balance	at the end ofthe reporting	period

		This year	Last year
22.1 Please pmvide information about the		The Debtor are Rent and	The Debtor am Rent and
signiinrcance offinancial instruments (eg.		Taxes	Taxes
debtors, creditom, investments etc)to the
charity'e financial position or performance,	for
example, the tenne and conditions of loans	or
the use ofhedging to manage financial risk.
22.2 Ifthe charity has pmvided financial assets
asaform ofsecurity, the carrying amount ofthe
financial assets pledged as security and the
terms and conitions related to its pledge should
be given here.

Whms the charity has continge oftheir existence iaremote. This lrear	Whms the charity has continge oftheir existence iaremote. This lrear	nt liabilgltles, please com	nt liabilgltles, please com	plete the following section unless th
Description ofitem including		its legal nature.		Estimate offinancial effect
Please	describe any security provided		in
	connection tothe	liability.
LSSt Saf
Description ofitem including		its legal nature.		Estimate offinancial effect
Please	describe any security provided		in
	connection to the	liability.

Note	24 Cash at bank and	in hand
					This year	Last year
Short	term cash investments	(less than 3months	maturity	date)
Short	term deposits
Cash	at bank and on hand				18617	10341
Other
Total					18,617	10,341

Note 25 Fairvalue ofassets and	liabilities
		This
25.1 Please provide dehrils cfthe charity's
exposure to credit risk ghe risk ofincurring	a
loss due toa debtor not paying what is awed)
.liquidity risk (Ihe risk ofnot being able to
meet short tenn financial demands) and
market risk (fire risk that the value efan
investment wgl fall due tochanges in the
market) arising from financial Instruments	to
which fne charity is exposed atthe end ofthe
reporfing period and explain how Ihe charity
manages those risks.
25.2 Please give details ofIhe amount of
change in the fair value ofbasic financial
inslruments (debtors, creditors, investments
(see section 11,FRS102SORP)) measured	at
fair value through the SoFAthat is afiributable
to changes in credit risk.

	This	Last
Please provide details ofthe nature ofthe	NIA	NIA
event
Provide an estimate ofthe financial effect of
the event orastatement that such an
estimate cannot be made

											CO	CV
											CO	CO
											Ol	I
											IO	CO
						g IL	CN'E 0 5		P oL	W		CV
		Ol
		I! OO 0 'C N		'b C				'00e 0 0 0 NIW 0 I4 E5
			4I
			IO
			C	0					IOII-
			OI	IO
		IO OC L0 0							'00		CI CI IO CO			OC Ol CO CCI	0
			IO						4I0
		,ol
				0ll										Ol
		0 e '4 IO	0 I 0 IO						4I E0 0L	Ol		CI Ol CI CO		OI
			ClC
	'00 I Ol CL	L 0 '4I IO 0	0 0 00			IL	0 0	0 B	P 0	W	CO CV Cl CV
	Cl C 00. 4I Iz Ill IC ICDn Ol 400	Ol 0 0 0.0 N'=, 0 Ol'0 0 0 I IO		IC IO 0 C 8 C			'0 C				00 08 00 IO Ol 4I Ol			I N 8 Ol 4I0.I0'00		00 00 Ol0 OI	'0 IO IO OI
	I '0 8 Ol	e '0 &	IC 4l Ol	'0			Io				Ol2 Ol 00I-	Ol 0 Ol 0 CI		IL 0 0I-			Ol
N'00 I IO V 0Z	E E'0 C IO 0 C 0 I 4I Cl E 0 l4 IO0nI I44	OI Ol IO6 0 0 0.	0 IO 0 0 Ol L0 0C 0 8	OlIo Ol C S Ul	C		IC IU n 10 0 I			0 C IL	00 0 0O N N0I	N 0000 C!	C0C OI OIC 0			'00 IO8 000 4 00 IO 4I T: 0	0 Ol0 IO 4I 0 C 0 0I 0e I4 L0 0 0 0 4I0.0 0

					I	c	'p		bb Cl tl			IO lo
									OO			IO
		00
					Ob
		lb
		lb
		Ol'0 0.C				l7t 00 0 lb0	0 N N0	W
		'0
		0		'0
				C
		Ol					'm	w
		'C		lb			EI-
				0
		Ol'0 C		Ol						Cl IO
		Ol0oI		0 bl E Ol			Cw 0 Ola			I IV
		L
				.OI
		4. bb c	Fb 0 0 E	0 OlC. lb C						0 lb I
				0
		Ole0 e	D 0	C OI
	'8	L, C	Ib P o		]toy IL 0 E o
	F 3. E lOD0) IC OL	Ol bb 0 .0 C 0 C .C	0 00 0 h 0 lb Ol	ObC		000 'tI' t						N 8 lb OI 0IL Nlb0'00	000 0tp III8 lb0
												IL
	Ob C '0	Ib	lb C	Ol 4l	IL							00I-
	C0	'0 0	lb 0 I	OI lb
	E Ola E'0 C lb	OI bl w	Ol 0 ObIb0		IU „b - L' 0 0								Ol '00 lb8 0 N
	bb0				b I								bl
	NDL												0C0
													Ol
IO X		OI 0 lb L Ib e E Ob 0 00 eh C. I		0. b, bC b				E lbC'00 IL	lb0 lb0 00 tb	lb0	C00 Ib Zl lb C 0		0 Ol Ol

27.3 T	rmsfers between	rmsfers between	rmsfers between	funds
This ear
				Reason for transfer and	where endowment	isconverted to income,	Amount
				legal	power for its conversion
Between	unrestricted		and
restricted	funds
Between	endowment		and
restricted	funds
Between	endowment		and
unrestricted funds
Last ear
				Reason fortransfer and	where endowment	is converted to income,	Amount
				legal	power for its conversion
Between	unrestricted		and
restricted	funds
Between	endowment		and
restricted	funds
Between	endowment		and
unrestricted funds
27.4Designated		funds
This ear
Planned	use			Pu	oseofthe designation		Amount
Last ear
Planned	oee			Purpose ofthe designation			Amount

				Amounts	paid orbenefit value
Name	oftrustee	Legal authority (eg order,	Remunersson	Pension conlribuaon	Redundancy fincluding	TOTAL
		governing			loss of
		document)			niece)iex
					raus

			Amounts	paid or benefit	value
Legal authorgy		Remuneragoc	Pension	Redundancy	Other	TOTAL
Name oftrustee	(eg order, governing document)		ccntri hugon	(including loss of oSceyex
				greua
Please give details ofwhy mmuneration	orother
employment benefits were paid.
Vt/hem an exgratia payment has been	made toa
trustee, pmvide an explanation ofthe	nalum ofthe
payment.				u/A
Ifathini party has been reimbumed forpmviding
one ormore trustees, slate the nature	ofthe
payment and amount ofthe reimbursement.				XIA
State the number oftmstees to whom	retimment
benefits are ace/ning under a defined contnbution
pension scheme.				uIA