Period start date Period end date Day **01** Month **09** Year **2023** Day **31** Month **08** Year **2024 To** 


## **Trustees' Annual Report for the period** 

**From** 

## Section A                        Reference and administration details 

**Charity name** HOUSE OF BREAD MINISTRY 

**Other names charity is known by Registered charity number (if any)** 1167814 

|**Charity's principal address**|<br>Flat 4 Weldon Court|<br>Flat 4 Weldon Court|
|---|---|---|
||1 Rembrandt Way||
||Watford||
||**Postcode**|WD18 7DP|



## **Names of the charity trustees who manage the charity** 

|1<br>2<br>3|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**<br>**year**|**Name of person (or body)**<br>**entitled to appoint trustee**<br>**(if any)**|
|---|---|---|---|---|
||DOREL MARIAN<br>GREC|PASTOR||CHURCH BOARD|
||CORNEL MOSCU|||CHURCH BOARD|
||IONUT DANIEL<br>CIRDEI|TREASURER||CHURCH BOARD|
||||||
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## **Names of the trustees for the charity, if any, (for example, any custodian trustees)** 

**Name Dates acted if not for whole year** 

**TAR** 

1 

August 2024 



## **Names and addresses of advisers (Optional information)** 

|**Type of adviser**|**Name**<br>**Address**|**Name**<br>**Address**|
|---|---|---|
|**Bookkeeper**|A P Bookkeeping Ltd|Unit 2052, 79 College Rd, Harrow HA1 1BD|
|**Independent**<br>**Examiner**|Odessey Associates<br>Limited|PO Box 2214<br>Ilford<br>Essex<br>IG1 9TQ|
||||
||||



**Name of chief executive or names of senior staff members (Optional information)** 

## **Section B              Structure, governance and management** 

## **Description of the charity’s trusts** 

MEMORANDUM AND ARTICLES OF INCORPORATION Type of governing document (eg. trust deed, constitution) CHARITABLE COMPANY How the charity is constituted (eg. trust, association, company) APPOINTED BY CHURCH BOARD Trustee selection methods 

(eg. trust, association, company) 

(eg. appointed by, elected by) 

## **Additional governance issues (Optional information)** 

You **may choose** to include additional information, where relevant, about: 

- policies and procedures adopted for the induction and training of trustees; 

The Church Board elections take place every 4 years or in case one (or more) of the board members resigns or retires. The candidates are nominated by members of the church and elected by the members of the church through voting. The Chairman of the Board is also elected every four years. They are nominated by the Church Board and elected by the members of the church. 

- the charity’s organisational structure and any wider network with which the charity works; 

- relationship with any related parties; 

- trustees’ consideration of major risks and the system and procedures to manage them. 

## **Section C                    Objectives and activities** 

**Summary of the objects of the charity set out in its governing document** 

The Object of the charity is for the public benefit, the advancement of the Christian faith in accordance with the Statement of Faith in such ways as the Charity Trustees may from time to time decide. 

**TAR** 

2 

August 2024 



House of Bread Ministry is committed to enabling as many people as possible from the local community to worship at and become part of our church. 

**Summary of the main** There is a large Romanian community in Watford and surrounding areas **activities undertaken for the** and we aim to serve it as much as we can. The service is delivered in **public benefit in relation to** Romanian but all are welcome to attend, and we endeavour to provide **these objects (include within** simultaneous interpreting in English, through headphones, to any guest **this section the statutory** who wishes to join us in worship but does not speak Romanian. **declaration that trustees have had regard to the guidance** The Trustees have considered the Charity Commission’s guidance on **issued by the Charity** public benefit, and particularly the specific guidance on charities for the **Commission on public** advancement of religion. We try to enable ordinary people in our **benefit)** community and neighbouring boroughs, from any denomination and background, to live out their faith through worship and prayer, Bible study, missionary and outreach work. Our church also aims to provide pastoral care to people in the community and reach out to those who are in need, sick or homeless. 

## **Additional details of objectives and activities (Optional information)** 

You **may choose** to include further statements, where relevant, about: 

- policy on grantmaking; 

- policy programme related investment; 

- contribution made by volunteers. 

From time to time, we may offer grants to other charities, individuals and organisations who promote the advancement of the faith. This year, we have given grants of more than £10,000 for church planting, food aid and pastoral support to our brothers and sisters in Madagascar; grants totalling £6950 to our Romanian mission partners for evangelism in Romania, Christmas gifts for disadvantaged children and support for our Romanian brothers and sisters after severe floods hit Galati region; and hardship grants totalling £5,400 for several needy families in the church and help with funeral costs for bereaved families. 

We could not have done all our work without the contribution of our many volunteers, who have listened to the calling of our Lord and have selflessly devoted their time and finances to spread the Good News both locally and overseas. 

**TAR** 

3 

August 2024 



Section D                      Achievements and performance 

## **Summary of the main achievements of the charity during the year** 

## _Worship and Prayer_ 

Our church had three worship services per week. We had our morning and evening Sunday services, and another service Thursday evenings, where people came together to worship, praise the Lord through music and prayers, and listen to the word of God through the sermon delivered by preachers in our church or visiting speakers. There was another prayer service every Tuesday evening, when the atmosphere was more contemplative, quiet and intimate. Our church gathers for worship at Hollywell Primary School, where we lease the sports hall and, at times the canteen area, when we have church events with food served. 

_Pastoral Care_ Our church runs Sunday school every week except on school holidays. Dedicated brothers and sisters in our church, who are of good character and knowledgeable of the Bible, deliver this service, while one of the church board members, brother Daniel Grancea, coordinates it. The children are taught important lessons from the Bible, through games, play and written/video materials. 

The youth group also meets every Sunday evening for Bible study and prayer. 

We organised a three-day camp for our members and guests in the May Bank Holiday weekend, to worship God and pray, and to spend time together, to create lasting memories as a church. The children and teenagers also had fun-filled activities organised. 

## _Mission and Evangelism_ 

We had no membership fee or fundraising events, but everyone has always been encouraged to find their place in the body of Christ, the church, and contribute not only financially, within their means, but also with their time, prayers and effort, which most of our members do. 

We organise one collection every first Sunday of the month to raise funds for our missionary work in Madagascar. We have also had a missionary trip to Madagascar, to spread the Gospel in the remote areas around Manakara, and to provide aid and support for our brothers and sisters in Christ that live in that area. Every first Sunday morning of the month is dedicated to spreading the Word of God in the centre of Watford, through song, prayer and preaching the Gospel to all who want to listen. 

**TAR** 

August 2024 

4 



## **Section E                    Financial review** 

It is a policy of House of Bread Ministry to maintain a balance on **Brief statement of the** unrestricted funds of £7,000 if possible, which roughly equates to six **charity’s policy on reserves** months lease payments and other church running costs. **Details of any funds materially** n/a **in deficit** 

## **Further financial review details (Optional information)** 

You **may choose** to include The charity’s main source of funds was donations from church members additional information, where and visitors. relevant about: 

- the charity’s principal sources of funds (including any fundraising); 

- • how expenditure has supported the key objectives of the charity; 

- • investment policy and objectives including any ethical investment policy adopted. 

## **Section F                     Other optional information** 

**Signature(s)** (signature of DM Grec) **Full name(s)** Pastor Dorel Marian Grec **Position** Chairman **Date** 28/06/2025 

**TAR** 

August 2024 

5 



**REGISTERED COMPANY NUMBER: 12818200 (England and Wales) REGISTERED CHARITY NUMBER: 1203457** 

## **Report of the Trustees and** 

**Financial Statements for the Year Ended 31 August 2024** 

**for** 

## **House Of Bread Ministry** 

Odessey Associates Limited PO Box 2214 Ilford Essex IG1 9TQ 



**House Of Bread Ministry** 

## **Contents of the Financial Statements for the Year Ended 31 August 2024** 

|||**Page**||
|---|---|---|---|
|**Report of the Trustees**||1||
|**Independent Examiner's Report**||2||
|**Statement of Financial Activities**||3||
|**Balance Sheet**|4|to|5|
|**Notes to the Financial Statements**|6|to|9|
|**Detailed Statement of Financial Activities**||10||





**House Of Bread Ministry** 

## **Report of the Trustees for the Year Ended 31 August 2024** 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of 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 2019). 

## **OBJECTIVES AND ACTIVITIES Objectives and aims** 

To advance the Christian religion for the public benefit by the holding of prayer meetings, public celebrations of Christian religion and outreach work. 

## **Significant activities** 

The charity is sustained by tithes and church offerings and we help many families in need in the UK with this money. We carry out mission work every first Sunday in the month. During the year we carried out mission work in Madagascar, Romania, India. Next year we will continue in the same way. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Registered Company number** 

12818200 (England and Wales) 

## **Registered Charity number** 

1203457 

## **Registered office** 

21 Ellis Street London United Kingdom SW1X 9AL 

## **Trustees** 

Mr D M Grec Mr C I Moscu Mr A Neagu 

## **Independent Examiner** 

Odessey Associates Limited PO Box 2214 Ilford Essex IG1 9TQ 

Approved by order of the board of trustees on 26 September 2024 and signed on its behalf by: 

Adrian Neagu 

Mr A Neagu - Trustee 

Page 1 



**Independent Examiner's Report to the Trustees of House Of Bread Ministry** 

## **Independent examiner's report to the trustees of House Of Bread Ministry ('the Company')** 

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024. 

## **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 accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). 

Having satisfied myself that the accounts of the Company 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 accounts 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 

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 accounts to be reached. 


Rajesh Chavda FCCA 

Odessey Associates Limited PO Box 2214 Ilford Essex IG1 9TQ 

26 September 2024 

Page 2 



## **House Of Bread Ministry** 

## **Statement of Financial Activities** 

## **for the Year Ended 31 August 2024** 

|||31.8.24|31.8.23|
|---|---|---|---|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|£|
|**INCOME AND ENDOWMENTS FROM**||||
|Donations and legacies||72,181|81,498|
|**EXPENDITURE ON**||||
|**Charitable activities**||||
|General||69,962|78,128|
|**NET INCOME**||2,219|3,370|
|**RECONCILIATION OF FUNDS**||||
|Total funds brought forward||28,509|25,139|
|**TOTAL FUNDS CARRIED FORWARD**||30,728|28,509|



The notes form part of these financial statements 

Page 3 



**House Of Bread Ministry** 

## **Balance Sheet** 

## **31 August 2024** 

|||31.8.24|31.8.23|
|---|---|---|---|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|£|
|**FIXED ASSETS**||||
|Tangible assets|4|13,629|14,172|
|**CURRENT ASSETS**||||
|Cash at bank and in hand||17,699|14,938|
|**CREDITORS**||||
|Amounts falling due within one year|5|(600)|(601)|
|**NET CURRENT ASSETS**||17,099|14,337|
|**TOTAL ASSETS LESS CURRENT**||||
|**LIABILITIES**||30,728|28,509|
|**NET ASSETS**||30,728|28,509|
|**FUNDS**|6|||
|Unrestricted funds||30,728|28,509|
|**TOTAL FUNDS**||30,728|28,509|



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024. 

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006. 

The trustees acknowledge their responsibilities for 

- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 

- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

The notes form part of these financial statements 

continued... 

Page 4 



**House Of Bread Ministry** 

## **Balance Sheet - continued** 

## **31 August 2024** 

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. 

The financial statements were approved by the Board of Trustees and authorised for issue on 26 September 2024 and were signed on its behalf by: 

Adrian Neagu 

Mr A Neagu - Trustee 


Mr D M Grec - Trustee 


Mr C I Moscu - Trustee 

The notes form part of these financial statements 

Page 5 



**House Of Bread Ministry** 

## **Notes to the Financial Statements for the Year Ended 31 August 2024** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

Fixtures and fittings - 25% on reducing balance 

## **Taxation** 

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

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **2. NET INCOME/(EXPENDITURE)** 

Net income/(expenditure) is stated after charging/(crediting): 

||31.8.24|31.8.23|
|---|---|---|
||£|£|
|Depreciation - owned assets|4,544|4,723|
|Other operating leases|14,862|13,090|



Page 6 

continued... 



**House Of Bread Ministry** 

## **Notes to the Financial Statements - continued for the Year Ended 31 August 2024** 

## **3. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023. 

## **4. TANGIBLE FIXED ASSETS** 

|**4.**|**TANGIBLE FIXED ASSETS**||||
|---|---|---|---|---|
|||||Fixtures|
|||||and|
|||||fittings|
|||||£|
||**COST**||||
||At 1 September 2023|||25,776|
||Additions|||4,001|
||At 31 August 2024|||29,777|
||**DEPRECIATION**||||
||At 1 September 2023|||11,604|
||Charge for year|||4,544|
||At 31 August 2024|||16,148|
||**NET BOOK VALUE**||||
||At 31 August 2024|||13,629|
||At 31 August 2023|||14,172|
|**5.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
||||31.8.24|31.8.23|
||||£|£|
||Accrued expenses||600|601|
|**6.**|**MOVEMENT IN FUNDS**||||
||||Net||
||||movement|At|
|||At 1.9.23|in funds|31.8.24|
|||£|£|£|
||**Unrestricted funds**||||
||General fund|28,509|2,219|30,728|
||**TOTAL FUNDS**|28,509|2,219|30,728|



continued... 

Page 7 



**House Of Bread Ministry** 

## **Notes to the Financial Statements - continued for the Year Ended 31 August 2024** 

## **6. MOVEMENT IN FUNDS - continued** 

Net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|72,181|(69,962)|2,219|
|**TOTAL FUNDS**|72,181|(69,962)|2,219|



## **Comparatives for movement in funds** 

||Net||
|---|---|---|
||movement|At|
|At 1.9.22|in funds|31.8.23|
|£|£|£|
|**Unrestricted funds**|||
|General fund<br>25,139|3,370|28,509|
|**TOTAL FUNDS**<br>25,139|3,370|28,509|
|Comparative net movement in funds, included in the above are as follows:|||
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|**Unrestricted funds**|||
|General fund<br>81,498|(78,128)|3,370|
|**TOTAL FUNDS**<br>81,498|(78,128)|3,370|



A current year 12 months and prior year 12 months combined position is as follows: 

|||Net||
|---|---|---|---|
|||movement|At|
||At 1.9.22|in funds|31.8.24|
||£|£|£|
|**Unrestricted funds**||||
|General fund|25,139|5,589|30,728|
|**TOTAL FUNDS**|25,139|5,589|30,728|



continued... 

Page 8 



**House Of Bread Ministry** 

## **Notes to the Financial Statements - continued for the Year Ended 31 August 2024** 

## **6. MOVEMENT IN FUNDS - continued** 

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|153,679|(148,090)|5,589|
|**TOTAL FUNDS**|153,679|(148,090)|5,589|



## **7. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 31 August 2024. 

Page 9 



**House Of Bread Ministry** 

|**Detailed Statement of Financial Activities**|||
|---|---|---|
|**for the Year Ended 31 August 2024**|||
||31.8.24|31.8.23|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|72,181|81,498|
|**Total incoming resources**|72,181|81,498|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Church expenses|15,308|11,848|
|Charitable donations & gifts|22,907|33,208|
||38,215|45,056|
|**Support costs**|||
|**Management**|||
|Other operating leases|14,862|13,090|
|Travel|5,946|5,856|
|Refreshments|1,597|2,487|
|Telephone|565|855|
|Advertising|147|1,185|
|Sundries|1,237|867|
|Subscriptions|892|548|
||25,246|24,888|
|**Finance**|||
|Insurance|343|336|
|Bank charges|201|66|
||544|402|
|**Information technology**|||
|Repairs and renewals|814|1,763|
|**Other**|||
|Depn of fixtures, fittings & equipment|4,543|4,724|
|**Governance costs**|||
|Accountancy|600|600|
|Legal & professional fees|-|695|
||600|1,295|
|Total resources expended|69,962|78,128|
|**Net income**|2,219|3,370|



This page does not form part of the statutory financial statements 

Page 10 



**Independent Examiner's Report to the Trustees of House Of Bread Ministry** 

## Independent examiner's report to the trustees of House Of Bread Ministry ('the Company') 

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024. 

## 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 accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). 

Having satisfied myself that the accounts of the Company 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 accounts 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 

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 accounts to be reached. 


Rajesh Chavda FCCA 

Odessey Associates Limited PO Box 2214 Ilford Essex IG1 9TQ 

26 September 2024 

Page 2