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2023-12-31-accounts

First Love Calvary Church

Charity No. 1201055

Company No. 13055356

Trustees' Report and Unaudited Accounts

31 December 2023

First Love Calvary Church Contents

Pages
Trustees' Annual Report 2 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Summary Income and Expenditure Account 6
Balance Sheet 7
Statement of Cash flows 8
Notes to the Accounts 9 to 11
Detailed Statement of Financial Activities 12 to 13

Page 1

First Love Calvary Church Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 December 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 13055356

Charity No. 1201055

Registered Office

C/O St Barnabas Church Browning Road London E12 6PB

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

Benjamin Benson Moses Elisha Stephen John Albert Sundararaj

Directors of Corporate Trustees

Benjamin Benson Moses John Albert Sundararaj

Elisha Stephen

Company Secretary

Carmel Sumathi

Accountants

Ace Accountants & Tax Consultants Ltd 127 Fencepiece Road Ilford Essex IG6 2LD

Solicitors

Anthony Collins solictors 134 Edmund Street Birmingham B3 2ES

OBJECTIVES AND ACTIVITIES

Page 2

First Love Calvary Church Trustees Annual Report

The charity's principal objective as set out in its Memorandum and Articles of Association is the advancement of the Christian religion in London, UK and the world by holding regular public worship, prayer meetings, bible studies and Sunday school ministry for children.

The charity has engaged in the promotion of the Christian faith by:

Sunday worship service throughout the year

Weekly prayer meetings and bible studies on zoom

Weekly Sunday school lessons for children

ACHIEVEMENTS AND PERFORMANCE

Fornightly evangelism meeting preaching the gospel in the streets

Visiting the sick and bereaved families offering prayer support

Women’s fellowship to encourage and support women in their walk with God.

The charity is blessed with volunteers who serve faithfully in advancing the Christian faith and relieving hardship in the community.

FINANCIAL REVIEW

The church relies on donations from the congregation to cover its operating costs. The congregation give generously towards the charity's activities.

There are no serious incidents or other matters relating to the charity during this financial period.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

Benjamin Benson Moses Trustee 25 September 2024

Page 3

First Love Calvary Church Independent Examiners Report

Independent Examiner's Report to the trustees of First Love Calvary Church

I report to the charity trustees on my examination of the financial statements of First Love Calvary Church for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

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.

Mr Majuran Pushpanathan ACMA Ace Accountants & Tax Consultants Ltd 127 Fencepiece Road Ilford

Essex IG6 2LD 25 September 2024

Page 4

First Love Calvary Church Statement of Financial Activities

for the year ended 31 December 2023

Notes
Income and endowments
from:
Donations and legacies
4
Total
Expenditure on:
Charitable activities
5
Other
6
Total
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2023
£
28,397		 Total funds
2023
£
28,397		 Total funds
2022
£
32,975
28,397
5,902
11,061		 28,397
5,902
11,061		 32,975
4,769
11,285
16,963
-		 16,963
-		 16,054
-
11,434
-		 11,434
-		 16,921
-
11,434 11,434 16,921
11,434
16,705		 11,434
16,705		 16,921
(216)
28,139 28,139 16,705

Page 5

First Love Calvary Church Summary Income and Expenditure Account

for the year ended 31 December 2023

Income
Gross income for the year
Expenditure
Total expenditure for the year
Net income before tax for the year
Net income for the year		 2023
£
28,397
28,397
16,963
16,963
11,434
11,434		 2022
£
65,950
65,950
32,108
32,108
33,842
33,842

Page 6

First Love Calvary Church Balance Sheet

at 31 December 2023

at 31 December 2023
Company No.
13055356
Notes
2023
£
Current assets
Debtors
7
500
Cash at bank and in hand
28,119
28,619
Creditors:Amount falling due within one year
8
(480)
Net current assets
28,139
Total assets less current liabilities
28,139
Net assets excluding pension asset or liability
28,139
Total net assets
28,139
The funds of the charity
Restricted funds
9
Unrestricted funds
9
General funds
28,139
28,139
Reserves
9
Total funds
28,139		 2022
£
-
17,005
17,005
(300)
16,705
16,705
16,705
16,705
16,705
16,705
16,705

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 25 September 2024

And signed on its behalf by:

Benjamin Benson Moses Trustee

25 September 2024

Page 7

First Love Calvary Church Statement of Cash flows

for the year ended 31 December 2023

Cash flows from operating activities
Net income per Statement of Financial Activities
Adjustments for:
Increase in trade and other receivables
Net cash provided by operating activities
Net cash from investing activities
Net cash from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Components of cash and cash equivalents
Cash and bank balances		 2023
£
11,434
(500)
10,934
-
-
10,934
17,005
27,939
28,119
28,119		 2022
£
-
-
-
-
-
-
3,770
3,770
17,005
17,005

Page 8

First Love Calvary Church Notes to the Accounts

for the year ended 31 December 2023

Basis of preparation

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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 9

First Love Calvary Church Notes to the Accounts

Expenditure

Taxation

The charity is exempt from corporation tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page 10

First Love Calvary Church Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 11

First Love Calvary Church Notes to the Accounts

3 Statement of Financial Activities - prior year

3
Statement of Financial Activities - prior year
Income and endowments from:
Donations and legacies
Total
Expenditure on:
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
4
Income from donations and legacies
5
Expenditure on charitable activities
Expenditure on charitable
activities
Governance costs		 Unrestricted
£
28,397
28,397
Unrestricted
£
2,952
2,950
5,902		 Unrestricted
funds
2022
£
32,975
32,975
4,769
11,285
16,054
16,921
16,921
16,921
(216)
16,705
Total
2023
£
28,397
28,397
Total
2023
£
2,952
2,950
5,902		 Total funds
2022
£
32,975
32,975
4,769
11,285
16,054
16,921
16,921
16,921
(216)
16,705
Total
2022
£
32,975
32,975
Total
2022
£
2,269
2,500
4,769

Page 12

First Love Calvary Church Notes to the Accounts

6 Other expenditure

6
Other expenditure
Motor and travel costs
Premises costs
General administrative costs
Legal and professional costs
7
Debtors
Other debtors
8
Creditors:
amounts falling due within one year
Accruals
9
Movement in funds
Restricted funds:
Unrestricted funds:
General funds
Total funds
10 Analysis of net assets between funds
Net current assets		 At 1 January
2023
16,705
16,705		 Unrestricted
£
17
4,772
4,548
1,724
11,061
2023
£
500
500
2023
£
480
480
Incoming
resources
(including
other
gains/losses
)
£
28,397
28,397		 Total
2023
£
17
4,772
4,548
1,724
11,061
Resources
expended
£
(16,963)
(16,963)
Unrestricted
funds
£
28,139
28,139		 Total
2022
£
20
4,530
4,740
1,995
11,285
2022
£
-
-
2022
£
300
300
At 31
December
2023
£
28,139
28,139
Total
£
28,139
28,139

Page 13

First Love Calvary Church Notes to the Accounts

11 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1 January
2023
£		 Cash flows
£		 At 31
December
2023
£
17,005 11,114 28,119
17,005
17,005		 11,114
11,114		 28,119
28,119

12 Related party disclosures Controlling party

Page 14

First Love Calvary Church Detailed Statement of Financial Activities

for the year ended 31 December 2023

Income and endowments from:
Donations and legacies
Total income and endowments
Expenditure on:
Charitable activities
Total of expenditure on charitable
activities
Motor and travel costs
Travel and subsistence
Premises costs
Rent
Premises cleaning
General administrative costs,
including depreciation and
amortisation
Equipment expensed
Information and publications
Postage and couriers
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Accountancy and bookkeeping
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments		 Unrestricted
funds
2023
£
28,397
28,397
28,397
2,952
2,950
5,902
5,902
17
17
4,716
56
4,772
2,058
765
438
549
229
27
482
4,548
480
1,244
1,724
11,061
16,963
-		 Total funds
2023
£
28,397
28,397
28,397
2,952
2,950
5,902
5,902
17
17
4,716
56
4,772
2,058
765
438
549
229
27
482
4,548
480
1,244
1,724
11,061
16,963
-		 Total funds
2022
£
32,975
32,975
32,975
2,269
2,500
4,769
4,769
20
20
4,530
-
4,530
2,293
398
418
464
187
29
951
4,740
300
1,695
1,995
11,285
16,054
-

Page 15

First Love Calvary Church Detailed Statement of Financial Activities

Net income
Net income before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 11,434
11,434
-
11,434
16,705
28,139		 11,434
11,434
-
11,434
16,705
28,139		 16,921
16,921
-
16,921
(216)
16,705

Page 16