## ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023
COMMUNITY OF THE WORD OF GOD TRUST CHARITY REGISTRATION No: 269209
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## **CONTENTS**
|Legal & administrative information|3|
|---|---|
|Review of the year (annual report)|4|
|Independent Examiner’s report|7|
|Statement of Financial Activities|8|
|Statement of Assets & Liabilities by fund|9|
|Fund Movement by type|10|
|Analysis of Income & Expenditure|11|
## **LEGAL AND ADMINISTRATIVE INFORMATION**
Charity No: 269209 Start of financial year 1[st] January 2023 End of financial year 31[st] December 2023 Legal status Unincorporated charity Governing instrument Declaration of Trust dated 12[th] March 1975 Correspondence address 90-92 Kenworthy Road London E9 5RA Primary bankers HSBC Bank plc 1-3 Bishopsgate London EC2N 3AQ Independent Examiner Leon Edwards Leon Edwards Accountants 10 Romulus Way Fairfields Milton Keynes MK11 4AZ
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## **REVIEW OF THE YEAR 2022**
## **Objects and activities**
The Community of the Word of God’s objects are as follows:
- a) The advancement of the Christian faith in accordance with the doctrines held by the Community and expressed in their Basis of Faith and
- b) the pursuit of any purpose exclusively charitable and for the benefit of the public according to the laws of England and Wales which is consistent with the doctrines held by the Community and expressed in their Basis of Faith.
The work of the Community has followed its regular pattern over the past twelve months of prayer, support of the local churches and pastoral ministry. CWG also celebrated the 50[th] anniversary of its foundation in November.
_Prayer:_ Members continued to meet in the morning and evening of each day except Sunday, and additionally for Night Prayer each evening. Companions and local friends join the Community from time to time. During Night Prayer intercession is made for a number of aid and evangelistic organisations as well as for those who phone, e-mail or personally ask for support. An informal service of Holy Communion has been introduced on Wednesday mornings, open to any and all who would like to come. A quarterly prayer diary and newsletter is produced for use by shared-life and Companion members.
_Zoom services:_ A by-product of the Covid lockdowns, the Community hosts Zoom services twice weekly, which are attended by a steady number of Companions and Friends - Night Prayer on Wednesdays and Morning Prayer on Saturdays. Both services enjoy a rich time of sharing the scriptures together, learning from one another, as well sharing prayer needs and times of intercession. The song/hymn videos, incorporated from the parish song bank, are much enjoyed by all. An online ‘Tea & Carols’ time was held on Boxing Day, with similar enjoyment.
_Support of the local churches_ : One member of the Community is employed as Parish Treasurer & Administrator for the local parish of St Barnabas Homerton. She also plays for services on a voluntary basis each Sunday as well as playing for funerals and weddings as requested. She and another member of the Community are Licensed Lay Ministers in the Diocese of London and preach and lead worship in the churches of the parish. Both are also involved in pastoral activities arising out of this. A third member is a retired, ordained Anglican priest who has served in the parish over the past year, which has ensured that both churches in the parish have been able to offer Holy Communion regularly. She has also helped each week at the Food Pantry run by one of the churches in the parish, being responsible for all the ‘store cupboard’ shopping.
_Pastoral ministry_ : All the members of the Community are involved in pastoral support. Contacts are made in face-to-face meetings, by phone or e-mail and may result in one-off times together for prayer or in much longer periods of contact which may involve practical help and availability to listen in an ongoing way as well as prayer support. This has led to ‘walking’ with people in financial need, serious illness, bereavement or relationship breakdown.
_Golden Jubilee celebrations:_ About 120 people attended a celebration service on Saturday 12[th] November followed by tea and fellowship. This was a time when members and Companions, past and present, caught up with each other and there were many ‘trips down memory lane.’ The Community also launched its new website, which was subsequently completed the following year. It is hoped that this might lead eventually to the birth of an ‘online community’.
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## **Financial review**
Total receipts for 2022 were £6,704, while expenditure was £25,601. The net result for the year was a deficit of £18,897. This was adequately covered by funds held. The expenditure was extraordinary, resulting from the necessity of a complete new roof on 90 Kenworthy Road, and roof repairs to 92 Kenworthy Road.
The rebuild value of the Community Trust’s properties, 90 and 92 Kenworthy Road is £845,568.
Restricted funds at the end of the year stood at £1,007. in the bursary fund for retreats. General funds at the end of the year were £2,606.
Total asset value of the Community of the Word of God at the end of the year was £868,079.
## **Structure, governance and management**
The CWG Trust is governed by trustees, who are elected by simple majority vote after recommendation by one or more of the existing trustees. They have a supervisory role over the members of the Community of the Word of God and are responsible for maintaining resources which enable the Community to function. The trustees work in consultation with members of the Community.
The day-to-day management and work of the Community is done by the three shared-life members: Jenny Brailsford (Servant), Annette Perkins and Veronica Sharpe. They share their personal current income (which is not part of the Trust funds) and receive no direct benefit from the Community Trust.
## **Reference and administrative information**
The Community of the Word of God is situated at 90-92 Kenworthy Road, Homerton, London E9 5RA. It is an autonomous body.
Trustees for 2017 were: Miss Christine Legg (Chair) Mr Roy Olowu (Secretary) Miss Veronica Sharpe (Treasurer) Mr Peter Davison Mrs Margaret Johnson Mrs Victoria Coulson
## **Trustees’ responsibilities**
The Charities Act 2011 requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the surplus of the trust for that period. In preparing those financial statements the trustees are required to:
- i) Select suitable accounting policies and apply them consistently ii) Make judgements and estimates that are reasonable and prudent
- iii) Prepare financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in existence.
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The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the trust. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees on 27th April 2024 and Signed electronically on their behalf by Chair of Trustees (Print name) Christine J Legg (Chair)
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## **LEON EDWARDS ACCOUNTANTS**
Member of the Certified Public Accountants Association
## **Report**
**To:** Veronica Sharpe
**From:** Leon Edwards
**Date:** Wednesday 23[rd] October 2024
**Subject:** Review of 2023 Community of The Word of God Annual Accounts
## **Introduction**
The report is to reflect on the review of the accounts. To highlight any transactions where description or monetary amounts may not reflect true and fair view of relevant income or expense. I will be analysing the trial balance to focus on any material expense figures that may seem too high or not reflect true. Also focusing on the amounts that are significantly different from the average cost under each expense heading.
I will be analysing the trial balance to focus on consistency of recording various income under the correct heading. This will involve reviewing the description of income under each income heading. Finally I will then compare the current year to last year to look for any material increase or decrease in income and expenses.
## **Summary**
After reviewing the trial balance and Income and Expenditure comparison, I am satisfied that reasonable care and attention have been made
.
Overall, the accounts show a true and fair view of period 2023.
There are no recommendations to make as I am satisfied with the data entry.
**Report Prepared by:** Leon Edwards, BA Hons Accounting, ACPA ACPA Membership Number 07304016A
**Date:** Wednesday 23[rd] October 2024
**Signed:**
**……………………….**
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## **Community of the Word of God - 269209**
## **Statement of Financial Activities**
## **For the period from 01 January 2023 to 31 December 2023**
||**Unrestricted**|**Designated**|**Restricted**|**Endowment**|**Total**|**Prior year**|
|---|---|---|---|---|---|---|
||**funds**|**funds**|**funds**|**funds**|**funds**|**total funds**|
|**_Income and endowments from:_**|||||||
|Donations and legacies|—|—|—|—|—|92,354.31|
|Investments|—|—|—|—|—|1.09|
|**Total income**|**—**|**—**|**—**|**—**|**—**|**92,355.40**|
|**_Expenditure on:_**|||||||
|Expenditure on charitable activities|—|—|—|—|—|1,852.37|
|Other expenditure|—|—|—|—|—|32,239.74|
|**Total expenditure**|**—**|**—**|**—**|**—**|**—**|**34,092.11**|
|**Net income / (expenditure) resources before transfer**|**—**|**—**|**—**|**—**|**—**|**58,263.29**|
||||||||
|**_Other recognised gains / losses_**|||||||
|**Net movement in funds**|**—**|**—**|**—**|**—**|**—**|**58,263.29**|
|**_Reconciliation of funds_**|||||||
|**Total funds brought forward**|**62,880.39**|**—**|**1,007.80**|**—**|**63,888.19**|**5,624.90**|
|**Total funds carried forward**|**62,880.39**|**—**|**1,007.80**|**—**|**63,888.19**|**63,888.19**|
||||||||
|**_Represented by_**|||||||
|Unrestricted|||||||
|General fund|62,880.39|—|—|—|62,880.39|62,880.39|
|Restricted|||||||
|Bursary for retreatants|—|—|1,007.80|—|1,007.80|1,007.80|
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**Community of the Word of God - 269209**
## **Statement of Assets and Liabilities (by fund) As at: 31 December 2023**
||**Balance**|**Previous**
**balance**|
|---|---|---|
|**Bursary for retreatants : Restricted**
**_Current assets_**
6000: Bank current account
**Total for Bursary for retreatants : Restricted**
**Car purchase : Restricted**
**_Current assets_**
6000: Bank current account
**Total for Car purchase : Restricted**
**General fund : Unrestricted**
**_Current assets_**
6000: Bank current account
6500: Bank BMM account
**Total for General fund : Unrestricted**
**Agency collection : Restricted**
**_Current assets_**
6000: Bank current account
**_Liabilities_**
6699: Agency collections
**Total for Agency collection : Restricted**
**Grand Total**|1,007.80
**1,007.80**
**1,007.80**
—
**—**
**—**
65,779.02
(2,898.63)
**62,880.39**
**62,880.39**
80.00
**80.00**
80.00
**80.00**
**—**
**63,888.19**|1,007.80
**1,007.80**
**1,007.80**
10,000.00
**10,000.00**
**10,000.00**
(2,483.18)
(2,899.72)
**(5,382.90)**
**(5,382.90)**
—
**—**
—
**—**
**—**
**5,624.90**|
_Page 9_
## **Community of the Word of God - 269209**
## **Fund movement by type Selected period: 01 January 2023 to 31 December 2023**
|**Fund and type**|**Fund balances**|**Incoming**|**Outgoing**|**Transfers**|**Gains and**|**Journal**|**Fund balances**|
|---|---|---|---|---|---|---|---|
||**brought forward**|**Resources**|**Resources**||**Losses**|**Entries**|**carried forward**|
|**Bursary**||||||||
|Restricted|1,007|—|—|—|—|—|1,007|
|**Sub-totals**|**1,007**|**—**|**—**|**—**|**—**|**—**|**1,007**|
|**Car**||||||||
|Restricted|10,000|—|10,000|—|—|—|—|
|**Sub-totals**|**10,000**|**—**|**10,000**|**—**|**—**|**—**|**—**|
|**Kitchen**||||||||
|Restricted|—|—|—|—|—|—|—|
|**Sub-totals**|**—**|**—**|**—**|**—**|**—**|**—**|**—**|
|**General**||||||||
|Unrestricted|(5,382)|92,355|24,092|—|—|—|62,880|
|**Sub-totals**|**(5,382)**|**92,355**|**24,092**|**—**|**—**|**—**|**62,880**|
|||||||||
|**Totals**|**5,624**|**92,355**|**34,092**|**—**|**—**|**—**|**63,888**|
_**There may be minor discrepancies in the totals if the pence are not being shown**_
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## **Analysis of income and expenditure**
|**Unrestricted Designated**
**Restricted**
**Endowment**
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Gift Aided income
2,700.00
—
—
—
Other donations
3,114.00
—
—
—
Legacies
86,540.31
—
—
—
Total
92,354.31
—
—
—
**Investments**
Bank interest
1.09
—
—
—
Total
1.09
—
—
—|**Unrestricted Designated**
**Restricted**
**Endowment**
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Gift Aided income
2,700.00
—
—
—
Other donations
3,114.00
—
—
—
Legacies
86,540.31
—
—
—
Total
92,354.31
—
—
—
**Investments**
Bank interest
1.09
—
—
—
Total
1.09
—
—
—|**Total**
**This year**
**Last year**
2,700.00
3,530.00
3,114.00
3,144.00
86,540.31
—|
|---|---|---|
||92,354.31
—
—
—
1.09
—
—
—|92,354.31
6,674.00
1.09
—|
||1.09
—
—
—|1.09
—|
|**INCOME TOTAL**|92,355.40
—
—
—|92,355.40
6,674.00|
|**EXPENDITURE**
**Expenditure on charitable activities**
Postage for Companion mailings, etc
—
—
—
—
Stationery
181.78
—
—
—
Utilities - gas
1,229.21
—
—
—
Utilities - electricity
441.38
—
—
—
Computer & IT
—
—
—
—
Total
1,852.37
—
—
—
**Other expenditure**
Insurance
1,279.96
—
—
—
Admin
102.00
—
—
—
Website expenses
709.84
—
—
—
General maintenance
486.40
—
—
—
Major structural work
19,582.40
—
—
—
Sundry (miscellaneous)
79.14
—
10,000.00
—
Total
22,239.74
—
10,000.00
—||—
170.00
181.78
227.94
1,229.21
686.82
441.38
522.91
—
27.86|
||1,852.37
—
—
—
1,279.96
—
—
—
102.00
—
—
—
709.84
—
—
—
486.40
—
—
—
19,582.40
—
—
—
79.14
—
10,000.00
—|1,852.37
1,635.53
1,279.96
—
102.00
57.40
709.84
—
486.40
127.20
19,582.40
12,740.00
10,079.14
9,000.00|
||22,239.74
—
10,000.00
—|32,239.74
21,924.60|
|**EXPENDITURE TOTAL**|24,092.11
—
10,000.00
—|34,092.11
23,560.13|
||||
|**GRAND TOTAL**|68,263.29
—
(10,000.00)
—|58,263.29
(16,886.13)|
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