Company registration number: 12818200 Charity registration number: 1203457
HOUSE OF BREAD MINISTRY TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
KALOMART & CO ACCOUNTANTS
HOUSE OF BREAD MINISTRY Contents
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2—3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities (including Income and Expenditure Account) | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7—10 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Statement of Financial Activities (including Income and Expenditure Account) | 11 |
HOUSE OF BREAD MINISTRY Reference and Administrative Details For The Year Ended 31 August 2025
Trustees Dorel Grec - Chair Corneliu MOSCU Ionut CIRDEI - Treasurer Charity Number 1203457 Company Number 12818200 Independent Examiner Martin Nsiah FCCA KALOMART & CO ACCOUNTANTS Chartered Accountants First Floor 2 Market Place London London SE16 3UQ
Page 1
HOUSE OF BREAD MINISTRY Company No. 12818200 Trustees' Report For The Year Ended 31 August 2025
The trustees present their report and the financial statements for the year ended 31 August 2025.
Objectives and Activities
Aims and Objectives
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
Public Benefit
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. There is a large Romanian community in Watford and surrounding areas and we aim to serve it as much as we can. The service is delivered in Romanian but all are welcome to attend, and we endeavour to provide simultaneous interpreting in English, through headphones, to any guest who wishes to join us in worship but does not speak Romanian. The Trustees have considered the Charity Commission’s guidance on public benefit, and particularly the specific guidance on charities for the advancement of religion. We try to enable ordinary people in our 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.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
Additional Note
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 £8800 for church planting, food aid and pastoral support to our brothers and sisters in Madagascar; grants totalling £600 to our Romanian mission partners for evangelism in Romania. 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.
Achievements and Performance
Main Achievements
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 gathered for worship at Hollywell Primary School, where we leased 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.
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.
Page 2
HOUSE OF BREAD MINISTRY Trustees' Report (continued) For The Year Ended 31 August 2025
Statement of Trustees' Responsibilities
The trustees (who are also the directors of HOUSE OF BREAD MINISTRY for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statement unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgments and accounting estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Dorel Grec Trustee 18/06/2026
Page 3
HOUSE OF BREAD MINISTRY Independent Examiner's Report to the Trustees of HOUSE OF BREAD MINISTRY For The Year Ended 31 August 2025
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2025.
Responsibilities and Basis of Report
As the charity 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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
Martin Nsiah FCCA 26/06/2026 KALOMART & CO ACCOUNTANTS Chartered Accountants First Floor 2 Market Place London London SE16 3UQ
Page 4
HOUSE OF BREAD MINISTRY Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 August 2025
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 3 EXPENDITURE ON: Raising funds 5 Charitable activities: 5 Church Expenses Charitable Donation and Gifts NET (EXPENDITURE)/INCOME NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 10 |
2025 Unrestricted funds £ 35,911 |
2024 Unrestricted funds £ 72,181 |
|---|---|---|
| (6,648) (24,038) (10,124) |
(11,742) (35,313) (22,907) |
|
| (40,810) | (69,962) | |
| (4,899) | 2,219 | |
| (4,899) 30,728 |
2,219 28,509 |
|
| 25,829 | 30,728 |
The notes on pages 7 to 10 form part of these financial statements.
Page 5
HOUSE OF BREAD MINISTRY Balance Sheet As At 31 August 2025
| Notes FIXED ASSETS Tangible Assets 8 CURRENT ASSETS Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 9 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS OF THE CHARITY Unrestricted Funds TOTAL FUNDS 10 |
2025 Unrestricted funds £ 11,647 |
2024 Total funds £ 13,629 |
|---|---|---|
| 11,647 14,782 |
13,629 17,699 |
|
| 14,782 (600) |
17,699 (600) |
|
| 14,182 | 17,099 | |
| 25,829 | 30,728 | |
| 25,829 | 30,728 | |
| 25,829 | 30,728 | |
| 25,829 | 30,728 |
For the year ending 31 August 2025 the charitable company was entitled to exemption from audit under section 479a of the Companies Act 2006 relating to subsidiary companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Dorel Grec
Trustee 18/06/2026
The notes on pages 7 to 10 form part of these financial statements.
Page 6
HOUSE OF BREAD MINISTRY Notes to the Financial Statements For The Year Ended 31 August 2025
1. General Information
HOUSE OF BREAD MINISTRY is a company limited by guarantee, incorporated in England & Wales, registered number 12818200 and registered charity number 1203457. The registered office is .
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements 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 charitable company is a Public Benefit Entity as defined by FRS 102.
2.2. Incoming Resources
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.
2.3. Resources Expended
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.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% RBM
2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
3. Income from Donations and Legacies
| Donations and gifts 4. Net Income/(Expenditure) The net (expenditure)/income is stated after charging/(crediting): Depreciation of tangible fixed assets - owned |
2025 Unrestricted funds £ 35,911 |
2024 Unrestricted funds £ 72,181 |
|---|---|---|
| 2025 £ 2,912 |
2024 £ 4,543 |
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HOUSE OF BREAD MINISTRY Notes to the Financial Statements (continued) For The Year Ended 31 August 2025
5. Analysis of Expenditure
| . Analysis of Expenditure |
||||
|---|---|---|---|---|
| Raising funds Church Expenses Charitable Donation and Gifts Raising funds Church Expenses Charitable Donation and Gifts . Support Costs Employee costs General administration Depreciation Employee costs General administration Depreciation |
Raising funds £ 4,118 2,530 - |
Activities undertaken directly £ - 20,526 - |
Support costs (see note 6) £ 6,648 3,512 10,124 |
2025 Total £ 6,648 24,038 10,124 |
| 20,526 | 20,284 | 40,810 | ||
| Activities undertaken directly £ - 30,170 - |
Support costs (see note 6) £ 11,742 5,143 22,907 |
2024 Total £ 11,742 35,313 22,907 |
||
| 30,170 | 39,792 | 69,962 | ||
| Church Expenses £ - 600 2,912 |
Charitable Donation and Gifts £ - 10,124 - |
2025 Total £ 4,118 13,254 2,912 |
||
| 6,648 | 3,512 | 10,124 | 20,284 | |
| Raising funds £ 7,543 4,199 - |
Church Expenses £ - 600 4,543 |
Charitable Donation and Gifts £ - 22,907 - |
2024 Total £ 7,543 27,706 4,543 |
|
| 11,742 | 5,143 | 22,907 | 39,792 |
6. Support Costs
7. Average Number of Employees
Average number of employees during the year was: 3 (2024: 2)
Page 8
HOUSE OF BREAD MINISTRY Notes to the Financial Statements (continued) For The Year Ended 31 August 2025
8. Tangible Assets
| Cost As at 1 September 2024 Additions As at 31 August 2025 Depreciation As at 1 September 2024 Provided during the period As at 31 August 2025 Net Book Value As at 31 August 2025 As at 1 September 2024 9. Creditors: Amounts Falling Due Within One Year Accruals and deferred income 10. Movement in Funds Unrestricted funds General: General unrestricted fund Total funds Unrestricted funds General: General unrestricted fund Total funds |
As at 1 September 2024 £ 30,728 |
Income £ 35,911 |
2025 £ 600 Expenditure £ (40,810) |
Fixtures & Fittings £ 29,777 930 |
|
|---|---|---|---|---|---|
| 30,707 | |||||
| 16,148 2,912 |
|||||
| 19,060 | |||||
| 11,647 | |||||
| 13,629 | |||||
| 2024 £ 600 |
|||||
| As at 31 August 2025 £ 25,829 |
|||||
| 30,728 | 35,911 | (40,810) | 25,829 | ||
| As at 1 September 2023 £ 28,509 |
Income £ 72,181 |
Expenditure £ (69,962) |
As at 31 August 2024 £ 30,728 |
||
| 28,509 | 72,181 | (69,962) | 30,728 |
11. Transactions with Trustees
During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows:
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HOUSE OF BREAD MINISTRY Notes to the Financial Statements (continued) For The Year Ended 31 August 2025
| 2025 | 2024 |
|---|---|
| £ | £ |
12. Related Party Disclosures
13. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 10
HOUSE OF BREAD MINISTRY Detailed Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 August 2025
| INCOME AND ENDOWMENTS FROM: Donations and legacies Donations and gifts EXPENDITURE ON: Raising funds Travel and subsistence expenses Subsistence expenses Computer software costs Repairs, renewals and maintenance Insurance Advertising and marketing costs Telecommunications and data costs Legal fees Subscriptions Bank charges Other office costs Charitable Activities: Church Expenses Church Expenses Operating leases Independent examiner's fees Depreciation of fixtures and fittings Charitable Donation and Gifts Charitable donations NET (EXPENDITURE)/INCOME |
2025 Total funds £ 35,911 |
2024 Total funds £ 72,181 |
|---|---|---|
| 35,911 | 72,181 | |
| 35,911 (4,118) - (702) - - - - (349) - (232) (1,247) |
72,181 (5,946) (1,597) - (814) (343) (147) (565) - (892) (201) (1,237) |
|
| (6,648) (6,798) (13,728) (600) (2,912) |
(11,742) (15,308) (14,862) (600) (4,543) |
|
| (24,038) (10,124) |
(35,313) (22,907) |
|
| (10,124) | (22,907) | |
| (40,810) | (69,962) | |
| (4,899) | 2,219 |
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