Charity registration number 1195920 (England and Wales)
CHURCH OF THE LIVING GOD TRUST CIO
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
CHURCH OF THE LIVING GOD TRUST CIO
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | J.M. Wendon |
|---|---|
| A. Wendon | |
| K. Martin | |
| B. Martin | |
| A. Millett | |
| C. Ogwok | |
| Charity number (England and Wales) | 1195920 |
| Registered office | Swallow House |
| 122 Fairfax Road | |
| Teddington | |
| Middlesex | |
| TW11 9BS | |
| Independent examiner | HB Accountants |
| 28 Plumpton House | |
| Plumpton Road | |
| Hoddesdon | |
| Hertfordshire | |
| EN11 0LB |
CHURCH OF THE LIVING GOD TRUST CIO
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 12 |
CHURCH OF THE LIVING GOD TRUST CIO
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
Objectives and activities
The objects of the Trust are to promote the Christian faith; to organise, sponsor and promote Christian churches in the U.K.; to relieve poverty; and to promote education in the context of the Christian faith. The trustees are satisfied that relief of poverty is within the benefit requirements of the Charities Act 2011 and that the other objects are within the public benefit requirements of the Charities Act 2011.
The trustees are also satisfied that the decisions and gifts that have been made during this reporting year also meet the requirements of benefit and public benefit. The general grant making activities of the Trust consist of giving money to causes that fall within the objects of the Trust.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.
The general grant making activities of the Trust consist of giving money to causes that fall within the objects of the Trust.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.
Achievements and performance
Significant activities and achievements against objectives
The Trust continued to support COTLG with both its running and outreach costs. The Trust continued its policy of giving 10% of its income split between various beneficiaries who fall within the Objects. This year’s recipients were Open Doors (OD), Living Hope Ministries (LHM), The Riverbank Trust (TRT), Kick London (KL), Reaching the World (RTW) and Mission Guatemala (MG). OD is an organisation that supports persecuted Christian in different parts of the world and provides disaster relief for poor people. LHM is an evangelical outreach organisation that preaches the gospel in the UK and abroad. RTW is a ministry that works primarily in Myanmar with orphans and training ministers of the gospel. TRT is a Christian charity which seeks to love, support and befriend vulnerable single mums and their families in the London Borough of Richmond. KL is a charity that engages young people in London with sports activities to help them become productive individuals as they encounter the gospel message. MG is a family based Christian mission which runs a Christian school, church and refuge centre in Guatemala promoting the Gospel through outreach, social care to the poor and vulnerable, and sport.
Gifts were also made to support a Christian phone ministry to Sierra Leone and to support Christian workers in Sierra Leone, India and Pakistan. In addition, gifts were made to Christian ministers and ministries: Mission 24 (Valley Life Trust), LHM, RTW, Jonathan Stanfield in the Isle of Man, Miro Toth in Slovakia and Luke Vardy. Gifts were also made to a small church in Kenilworth called Word of Life (WOL).
The Trust is continuing to retain a fund for a more permanent building for COTLG when a suitable one has been found, or if none is available, a rental property for helping those in need, i.e. refugees, victims of domestic violence and vulnerable adults.
Financial review
On 1 January the CIO took over the operations of The Church of the Living God Trust, charity number 803600, having previously been dormant. Funds transferred over were £524,446 which is included in income in this accounting year.
The Trustees consider the result for the year to be good. Total income, excluding the transfer of funds, was £98,259. Gifts paid were £68,822 and support and governance costs were £2,845. The finances are strong with total funds of £551,038.
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CHURCH OF THE LIVING GOD TRUST CIO
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Reserves policy
It is the policy of the Trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to six month’s normal expenditure, currently around £50,000. They see no reason to adjust or change this policy. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The Trust is a charitable incorporated organisation.
The trustees who served during the year and up to the date of signature of the financial statements were: J.M. Wendon
A. Wendon
K. Martin
B. Martin
A. Millett
C. Ogwok
Recruitment and appointment of trustees
Trustees are appointed from within the membership of the Church of the Living God by its Elders after they have examined the appointee's character and Christian walk over a period of time.
The Trust maintains a "Welcome Pack" that includes an introduction to the Trust and its governing deed, as well as a copy of the Trust Deed, a summary of its objects and key procedures; an outline of the responsibilities of all of the trustees as well as those of the Chair, Treasurer and Secretary; together with a "Trust Calendar" that sets out the meeting dates and regular matters to be considered. Also included in the Welcome Pack are the Charities Commission's "Hallmark of an Effective Charity at a Glance", "Being a Trustee" and "Guidance on Public Benefit" as well as a summary of the Public Benefit guidance.
Organisational structure
The trustees meet throughout the year to oversee and administer the running and direction of the Trust in accordance with its objects and the benefit and public requirements of the Charities Act 2011.
All of the trustees give their time freely and none of them receive any remuneration.
In the event that any decision could involve a conflict of interest, it is the policy of the Trust to require the affected trustee to withdraw from any part of the discussion.
The trustees' report was approved by the Board of Trustees.
..............................
J.M. Wendon Trustee
Date: .............................................
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CHURCH OF THE LIVING GOD TRUST CIO
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF CHURCH OF THE LIVING GOD TRUST CIO
I report to the trustees on my examination of the financial statements of Church of the Living God Trust CIO (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
Since the Trust’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Insitute of Chartered Accountants in England and Wales, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the Trust as required by section 130 of the Charities Act 2011.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
HB Accountants
28 Plumpton House Plumpton Road Hoddesdon Hertfordshire EN11 0LB Date: ............................
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CHURCH OF THE LIVING GOD TRUST CIO
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted Unrestricted Restricted funds funds funds general Building fund 2024 2024 2024 Notes £ £ £ Income from: Donations and legacies 3 583,943 - 20,110 Investments 4 18,652 - - Total income 602,595 - 20,110 Expenditure on: Charitable activities 5 57,001 - 14,666 Total expenditure 57,001 - 14,666 Net income 545,594 - 5,444 Transfers between funds (400,000) 400,000 - Net movement in funds 145,594 400,000 5,444 Reconciliation of funds: Fund balances at 1 January 2024 - - - Fund balances at 31 December 2024 145,594 400,000 5,444 |
Total 2024 £ 604,053 18,652 |
|---|---|
| 622,705 71,667 |
|
| 71,667 | |
| 551,038 - |
|
| 551,038 - |
|
| 551,038 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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CHURCH OF THE LIVING GOD TRUST CIO
BALANCE SHEET
AS AT 31 DECEMBER 2024
| Notes Current assets Debtors 10 Investments 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets The funds of the Trust Restricted income funds 13 Unrestricted funds - general 15 Unrestricted funds - Building fund 14 |
2024 £ 7,891 454,569 96,503 558,963 (7,925) |
£ 551,038 5,444 145,594 400,000 551,038 |
2023 £ - - - - - |
£ - |
|---|---|---|---|---|
| - - - |
||||
| - |
The financial statements were approved by the trustees on .........................
.............................. J.M. Wendon Trustee
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CHURCH OF THE LIVING GOD TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Charity information
Church of the Living God Trust CIO is a Charitable Incorporated Organisation.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Trust's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The Trust is a Public Benefit Entity as defined by FRS 102.
The Trust has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Trust.
1.4 Income
Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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CHURCH OF THE LIVING GOD TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies (continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.
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CHURCH OF THE LIVING GOD TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies (continued)
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the Trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted Restricted funds funds 2024 2024 £ £ Donations and gifts 52,034 11,977 Income tax recoverable 12,837 2,759 Funds transferred from connected charity 519,072 5,374 583,943 20,110 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 64,011 - - 15,596 - - 524,446 - - 604,053 - - |
Total 2023 £ - - - |
|---|---|---|
| - |
4 Income from investments
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Interest receivable | 18,652 | - |
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CHURCH OF THE LIVING GOD TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
| 5 Expenditure on charitable activities Direct costs Grant funding of activities (see note 6) Share of support and governance costs (see note 7) Support Governance Analysis by fund Unrestricted funds - general Restricted funds 6 Grants payable Grants to institutions: Church of the Living God Open Doors Reaching the World Ministries Kick London Living Hope Ministries Whitestone Global Valley Life Trust Porchester Free Church Riverbank Trust Ignite Ministries Word of Life Church Release Eritrea Grants to individuals |
2024 £ 68,822 625 2,220 |
|---|---|
| 71,667 | |
| 57,001 14,666 |
|
| 71,667 | |
| 2024 £ 39,604 2,674 3,516 439 3,889 1,240 2,165 1,954 4,718 1,654 702 1,000 |
|
| 63,555 5,267 |
|
| 68,822 |
Gifts payable comprise £67,822 given for the advancement of the gospel and £1,000 for the relief of poverty.
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CHURCH OF THE LIVING GOD TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
7 Support costs allocated to activities
| Sundry expenses Governance costs Governance costs comprise: Accountancy |
2024 £ 625 2,220 2,845 2024 £ 2,220 2,220 |
2023 £ - - |
|---|---|---|
| - | ||
| 2023 £ - |
||
| - |
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year.
9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
10 Debtors
| 10 Debtors |
||
|---|---|---|
| Amounts falling due within one year: Income tax recoverable 11 Current asset investments Bank deposit account 12 Creditors: amounts falling due within one year Accruals and deferred income |
2024 £ 7,891 2024 £ 454,569 2024 £ 7,925 |
2023 £ - |
| 2023 £ - |
||
| 2023 £ - |
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CHURCH OF THE LIVING GOD TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At | 1 | January | Incoming | Resources | At |
31 | December | |
|---|---|---|---|---|---|---|---|---|
| 2024 | resources | expended | 2024 | |||||
| £ | £ | £ | £ | |||||
| Christian ministries | - | 14,736 | (14,666) | 70 | ||||
| Building fund | - | 5,374 | - | 5,374 | ||||
| - | 20,110 | (14,666) | 5,444 |
14 Unrestricted funds - Building fund
These are unrestricted funds which are material to the Trust's activities.
| At | 1 | January | TransfersAt | 31 | December | |
|---|---|---|---|---|---|---|
| 2024 | 2024 | |||||
| £ | £ | £ | ||||
| Building fund | - | 400,000 | 400,000 |
15 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 January | Incoming | Resources | TransfersAt 31 December | TransfersAt 31 December | |
|---|---|---|---|---|---|
| 2024 | resources | expended | 2024 | ||
| £ | £ | £ | £ | £ | |
| General funds | - | 602,595 | (57,001) | (400,000) | 145,594 |
| Analysis of net assets between funds | |||||
| Unrestricted | Unrestricted | Restricted | Total | ||
| funds | funds | funds | |||
| general | Building fund | ||||
| 2024 | 2024 | 2024 | 2024 | ||
| £ | £ | £ | £ | ||
| At 31 December 2024: | |||||
| Current assets/(liabilities) | 145,594 | 400,000 | 5,444 | 551,038 | |
| 145,594 | 400,000 | 5,444 | 551,038 |
16 Analysis of net assets between funds
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CHURCH OF THE LIVING GOD TRUST CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16 Analysis of net assets between funds (continued)
At 31 December 2023:
| Unrestricted | Unrestricted | Restricted | Total |
|---|---|---|---|
| funds | funds | funds | |
| general | Building fund | ||
| 2023 | 2023 | 2023 | 2023 |
| £ | £ | £ | £ |
| - | - | - | - |
17 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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