2022-03-31-accounts - Word Of Life Ministries UK Limited

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Company Registration No. 01572178 England & Wales Charity No. 283041 Scottish Charity No. SC038451

Word of Life Ministries UK Limited (A company limited by guarantee)

Trustees’ Report and Financial Statements For the year ended 31 March 2022

Word of Life Ministries UK Limited

Contents of the Financial Statements for the year ended 31 March 2022

	Page
Report of the Trustees	1 - 3
Report of the Independent Examiner	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the Financial Statements	7 – 11

Word of Life Ministries UK Limited

Report of the Trustees for the year ended 31 March 2022

The Trustees (who are also Directors for the purpose of Company law) are pleased to present their report together with the financial statements of the company for the year to 31 March 2022.

Reference and administrative details

Principal and registered office Bankers 23 Windmill Avenue CAF Bank Raunds 25 Kings Hill Avenue Wellingborough West Malling NN9 6JX ME19 4JQ

Status of Company and Governing Document

Word of Life Ministries UK Limited (WOLUK) is a private company limited by guarantee (Number 01572178) and is a registered charity in England & Wales (Number 283041) and a registered charity in Scotland (Number SC038451), constituted under an updated Memorandum of Association dated 10 June 2004.

Trustees and Office Bearers

Board of Trustees

Alex Konya Chair Madeleine Robins Secretary David Kunzi (appointed 29 October 2022) Matthew Melville (appointed 2 April 2022) Matthew Pitts Stuart Rankin Andreas Wenzel Lucas Fernandez Paz (resigned 11 September 2021) Laura Smith (resigned 11 September 2021)

Governance

The Board of Trustees exist to oversee the running of the charitable company and are responsible for the day to day management of staff and activities. New Trustees are appointed by the existing Trustees and serve for a term of 3 years after which they may put themselves forward for reappointment.

Objectives and aims

The objective of the Charity is the evangelisation and discipleship of youth through various means consistent with the Holy Scriptures to strengthen and build up the Church of Jesus Christ.

The significant activities undertaken to further these aims are:
Running summer residential holidays with funds raised to allow for children of refugee families to attend, as well as raising funds which pay for children to attend from families that could not normally afford to send them anywhere in the summer.
Carrying out puppet shows in school assemblies aiding those schools in meeting their religious observance requirements.
Running free family shows during the Edinburgh Fringe Festival.
The Trustees have had regard to the Charity Commission’s guidance on public benefit.

Page 1

Word of Life Ministries UK Limited

Report of the Trustees for the year ended 31 March 2022

Achievements and performance

In 2021-22, we continued to adapt to the presence of COVID in the UK, and the impact it has on our ability to run our normal activities. Up until July 2021, COVID significantly limited our in-person work with children and young people, resulting in our activities being primarily focused on connecting with young people online. We were able to continue our youth meetings and volunteer staff connections using online platforms.

Many of our in-person activities were able to resume from August 2021 and our goal was to maximise every opportunity to work with young people whenever safe to do so and in line with Government regulations.

Our puppet team was able to return to activities in February 2022. For the first time we were able to include teens from the Edinburgh area to join us as puppeteers. This was a unique opportunity to work closely with a small group of young people; providing many opportunities to help meet their emotional, mental, spiritual and social needs.

With the lifting of many COVID restrictions, we continued to plan in earnest towards activities for the 2022-23 period.

Plans for 2022/2023

In the next financial year, we anticipate a busy period of activity as we emerge more fully from COVID restrictions. We will continue to ensure our events are safe and accessible for youth and children, regardless of background. Preparations for a return to the Edinburgh Fringe Festival in August 2022 are underway. We hope to offer a total of 12 free family shows, which we anticipate will be attended by children and families from many regional, cultural and ethnic backgrounds. We are also planning our return to schools work so that we may recommence assisting schools in meeting their religious observance requirements, particularly in the lead up to Christmas 2022.

Financial review

Overview

We continue to see minimal impact of COVID on incoming donations to cover staff costs and other overheads. We are emerging from COVID restrictions with a healthy financial position which allows us to continue operating beyond the end of the pandemic. We are grateful to our financial donors and the Government for their support during this difficult time.

Results for the year

The financial statements for the year are set out on pages 5 to 11. The Statement of Financial Activities on page 5 reflects net expenditure of £10,034 (2021: net income of £68,497). Total funds amounted to £132,225 (2021: £142,259), of which £131,901 (£142,259) was unrestricted and £324 (£nil) was restricted.

The Trustees continue to monitor the financial situation closely during these financially challenging times for the sector.

Reserves policy

The total unrestricted reserves held at 31 March 2022 amounted to £131,901. It is the policy of the Charity to build up sufficient reserves to meet the planned expenditure requirement for the next year. This policy was met this year-end.

The policy is being kept under review by the Board to ensure it continues to adequately reflect the financial risks of the Charity during the current challenging climate.

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Word of Life Ministries UK Limited Report ol the Trusteesfor the yeor ended 31 March 2022 Statement on rlsk The Trustees, as Directors of the Company, have a duty to identify and review the rlsks to which the Company is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trurtees considered risks to whlch the Company may be subjert and are satisfied that they have introduced procedures to mitigate the p0$5ible effects of those risks. Statement olTrustees' responslbllltles Charity law requires the Trustees (who are also the Directors) to prepare flnancial statements for each financial year which give a true and fair view of the state of the Company's affairs and of its intome and expenditure, including its surplus or defitlt for that year, and which have been properly prepared from and are in agreement with the accountirÉ records of the Company and comply with relevant disclosure requlrements. In preparing those flnancial statements, the Trustees are requlred to.. select sultable accounting policies and then apply them consistèntlv,. observe the methods and princSples in the applicable Charities SORP,. make judgement5 and estimates that are reasonable and prudent,. state whether applicable accounting standards and statements of recommended practlce have been followed subject to any departures dlsclosed and explained in the financial statements,. and prepare the financial statements on the golng concem basis unless It is inappropriate to presume that the Company will continue in operation. The Trustees are responsible for keeping proper accounting records whlch disclose with reasonable accuracy at any tlme the Company's flnancial position and enable the Trustees to ensure that the financial statements comply with the Companies Act 2006. The Trustees are a150 responsible for taklng such steps as are reasonably open to them to safeguard the Company's a55ets and to prevent and detect fraud and other irregularities. The report has been prepared havlng taken advantage of the small companies, exemption in the Companies Act 2006. On behalf of the Trustees Madeleine Roblns 5ecretury Date.. 3 December 2022 Page 3

Word of Life Ministries UK Limited

Report of the Independent Examiner to the Trustees for the year ended 31 March 2022

I report on the accounts of the company for the year ended 31 March 2022 which are set out on pages 5 to 11.

Respective responsibilities of Trustees and examiner

The Charity Trustees (who are also the Directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006, the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The Charity Trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Charities and Trustee Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Basis of independent examiner’s statement

My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations (as amended) and the Charities Act 2011. An examination includes a review of the accounting records kept by the Company and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the Directors concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent Examiner’s Statement

In the course of my examination, no matter has come to my attention

which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with Section 130 of the Charities Act 2011, Section 44(1) (a) of the Charities and Trustee Investment (Scotland) Act 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended), and
to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations (as amended)

have not been met, or

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Alison Franks

Director

Cornerstone Accounting Limited Chartered Accountants

11 Erngath Road Bo’ness EH51 9DP

Date: 3 December 2022

Page 4

Word of Life Ministries UK Limited

Statement of Financial Activities (incorporating Income and Expenditure account)

For the year ended 31 March 2022

Notes Income and endowments Donations and legacies 2 Investments 3 Total income and endowments Expenditure Raising funds 4 Charitable activities 5 Total expenditure Net gains on investments 7 Net (expenditure)/income Transfers between funds 10 Net movement in funds Total funds brought forward Total funds carried forward Represented by: General fund 10 Restricted funds 10 Total funds	General fund £ 54,239 768 55,007 770 66,962 67,732 2,367 (10,358) - (10,358) 142,259 131,901 131,901 - 131,901	Restricted funds £ 1,351 - 1,351 - 1,027 1,027 - 324 - 324 - 324 - 324 324	2022 Total £ 55,590 768 56,358 770 67,989 68,759 2,367 (10,034) - (10,034) 142,259 132,225 131,901 324 132,225	General fund £ 105,436 951 106,387 - 51,763 51,763 13,873 68,497 - 68,497 73,762 142,259 142,259 - 142,259	Restricted funds £ 1,056 - 1,056 - 1,056 1,056 - - - - - - - - -	2021 Total £ 106,492 951 107,443 - 52,819 52,819 13,873 68,497 - 68,497 73,762 142,259 142,259 - 142,259

The notes on pages 7 to 11 form part of these financial statements.

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Word of Life M inistries UK Limited IReg15tered No.. 015721781 alance sheet As at 31 March 2022 GeneTrl Restricted fund fund$ 2022 Total General Restricted fund funds 2021 Total Notes Fixed assets Tangible assets Investments 11629 84.768 12.629 84768 18,092 82,475 18,092 82,475 Total fixed assets 97.397 97.397 100,567 100,567 Current assets Debtors Cash at bank and In hand 1,822 36,067 1,822 36.391 4,734 39,846 4,734 39,846 324 Total curr•nt assets 37,889 324 38.213 44,580 44,580 Ll•bllltl•s Creditors.. falling due within onè yèar 3.385 3,385 2,888 2.888 Net current 455ets 34,504 324 34828 41,692 41,692 Tot•1 ass•ts l•M ¢urr•nt Ilabllltles 131,901 324 132,225 142,259 142,259 Net assets 131,901 324 132,225 142,259 142,259 Funds of th• Charlty General fund ftestricted funds io io 131,901 131,901 324 142,259 142,259 324 Total charlty fvndi 131,901 924 132,225 142,259 142,259 The ftnancial statements have been prepared In accordance with the provlslons appllcable to companie5 subject to the small companle5' regime. The Directors acknowledge the followln8'. their responslblllties for complying with the fequSrements of the Companles Act 2006 with respect to accounting records and preparatlon of the accounts- and that the company was entitled to exemption from audit under section 477 of the Companles Act 2006 reloting to small companle5. No rnernbers have required the Cofflpany to obtain an audlt of its accounts for the year in questlon In accordance wlth section 476 of the Companie5 Act 2006. The financial statements on pales 5 to 11 were approved by the Trustees on 3 December 2022 and signed on their behalf bv.. Madeleine Roblns, Secr•tary The notes on pages 7 to 11 form part of these financial statements. Page 6

Word of Life Ministries UK Limited

Notes to the Financial Statements for the year ended 31 March 2022

1. Accounting policies

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with FRS 102, and in compliance with the Charities SORP 2019, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006. The principal accounting policies adopted in the preparation of the financial statements are set out below.

Word of Life Ministries UK Limited meets the definition of a public benefit entity under FRS 102.

Company status

The charity is a private company limited by guarantee and registered in England & Wales. The members of the company are Directors named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

Basis of financial statements

The financial statements have been prepared on an accruals basis. The Trustees consider that there are no material uncertainties so the accounts have been prepared on a going concern basis.

Income and debtors

All income is included on the Statement of Financial Activities when the Company is legally entitled to the income and the amount can be quantified with reasonable accuracy. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.

Debtors are valued at cost at the year-end and adjusted for any amounts considered to be irrecoverable.

Expenditure and creditors

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. Support costs are those costs incurred directly in support of expenditure on the objects of the company.

Creditors are valued at cost at the year-end and split between amounts due in less than one year and amounts due in more than one year.

Taxation

The Company is exempt from Corporation Tax on its charitable activities.

Tangible fixed assets and depreciation

Tangible fixed assets over £500 are capitalised and are stated at cost less depreciation, adjusted for any diminution of value in the year. Depreciation is provided at rates calculated to write off the cost less estimated residual value, over their expected useful lives, as follows:

Fixtures and fittings 25% reducing balance
Motor vehicles 25% reducing balance  Office equipment 25% reducing balance

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Word of Life Ministries UK Limited

Notes to the Financial Statements for the year ended 31 March 2022

1. Accounting policies (continued)

Investments

Fixed asset investments are included in the accounts at quoted market value at the year-end. Any gains or losses arising on disposal or revaluations are included in the SOFA.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit account.

Fund accounting

For the purpose of the Statement of Financial Activities, funds are defined as follows:

Unrestricted funds comprise income received for the objects of the company without further specified purpose and are available as general funds or are placed within designated funds which can be used for purposes in agreement with its charitable objectives.

Restricted funds comprise income which has been received for the objects of the company and specified for a restricted purpose within these objects by the donor.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling on the transaction date.

Pensions

The company operates a defined contribution pension scheme with NEST. The pension charge represents the amount payable by the company into the scheme in the year.

Donated goods and services

The Charity did not benefit from any donated facilities, goods or services this year, other than the services of our Trustees.

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Word of Life Ministries UK Limited

Notes to the financial statements For the year ended 31 March 2022

2. Donations and legacies

Donations from UK Donations from USA Gift aid receivable JRS grants 3. Investment income Dividend income Interest receivable Exchange rate gains 4. Expenditure on raising funds Investment management costs 5. Expenditure on charitable activities Wages and salaries Employer NI Employer pension Camp expenses Conference expenses Travel expenses Insurance costs Office costs Printing, postage and stationery Advertisting and promotion Subscriptions Depreciation Loss on disposal of fixed assets Donations Independent examination fees Bank charges Total expenditure	General fund £ 19,548 18,748 2,647 13,296 54,239 General fund £ 696 - 72 768 General fund £ 770 General fund £ 52,737 328 1,012 - 347 2,198 2,294 269 26 - 1,161 4,210 1,253 - 1,000 127 66,962	Restricted funds £ 1,351 - - - 1,351 Restricted funds £ - - - - Restricted funds £ - Restricted funds £ - - - - - - - - - - - - - 1,027 - - 1,027	2022 Total £ 20,899 18,748 2,647 13,296 55,590 2022 Total £ 696 - 72 768 2022 Total £ 770 2022 Total £ 52,737 328 1,012 - 347 2,198 2,294 269 26 - 1,161 4,210 1,253 1,027 1,000 127 67,989	General fund £ 52,650 27,426 - 25,360 105,436 General fund £ 949 2 - 951 General fund £ - General fund £ 40,347 - 1,764 51 - 3,246 1,871 701 33 344 972 364 - - 2,000 70 51,763	Restricted funds £ - 1,056 - - 1,056 Restricted funds £ - - - - Restricted funds £ - Restricted funds £ 1,056 - - - - - - - - - - - - - - - 1,056	2021 Total £ 52,650 28,482 - 25,360 106,492 2021 Total £ 949 2 - 951 2021 Total £ - 2021 Total £ 41,403 - 1,764 51 - 3,246 1,871 701 33 344 972 364 - - 2,000 70 52,819

The average number of staff employed during the year was 2 (2021: 3). No employees were paid more than £60,000. None of the staff met the definition of key management personnel.

No holiday pay was due at the year-end (2021: nil).

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Word of Life Ministries UK Limited

Notes to the financial statements

For the year ended 31 March 2022

6. Tangible fixed assets

Cost At 1 April 2021 Disposals At 31 March 2022 Depreciation At 1 April 2021 Charge for year Eliminated on disposals At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 7. Investments Market value at 1 April Additions (at cost) Disposals (at cost) Dividends received and reinvested Fees charged Net gain in value Market value at 31 March Historical cost at 31 March Net gains on investments comprise: Realised gains on disposal Unrealised gain on valuation 8. Debtors Prepayments and accrued income Gift aid recoverable	General fund £ 707 1,115 1,822	Restricted funds £ - - -	Fixtures & fittings £ 7,022 (7,022) - 6,849 - (6,849) - - 173 2022 Total £ 707 1,115 1,822	Motor vehicles £ 28,660 (11,660) 17,000 11,177 4,210 (11,016) 4,371 12,629 17,483 General fund £ 3,763 971 4,734	Office equip't £ 8,180 (8,180) - 7,744 - (7,744) - - 436 2022 Total £ 82,475 9,012 (8,308) 696 (770) 1,663 84,768 76,610 2022 Total £ 1,474 893 2,367 Restricted funds £ - - -	Total £ 43,862 (26,862) 17,000 25,770 4,210 (25,609) 4,371 12,629 18,092 2021 Total £ 67,654 7,953 (7,795) - - 14,663 82,475 75,906 2021 Total £ 159 13,714 13,873 2021 Total £ 3,763 971 4,734

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Word of Life Ministries UK Limited

Notes to the financial statements For the year ended 31 March 2022

9. Creditors: falling due within one year

editors: falling due within one year Accruals and deferred income Taxation and social security	General fund £ 1,000 2,385 3,385	Restricted funds £ - - -	2022 Total £ 1,000 2,385 3,385	General fund £ 2,000 888 2,888	Restricted funds £ - - -	2021 Total £ 2,000 888 2,888

10. Funds analysis

Current year

*Unrestricted funds* General fund Total unrestricted funds *Restricted funds* Hungary and Serbia fund Total restricted funds Prior year Unrestricted funds General fund Total unrestricted funds Restricted funds Hungary and Serbia fund Total restricted funds	Balance at 01.04.21 £ 142,259 142,259 - - Balance at 01.04.20 £ 73,762 73,762 - -	Income Expenditure £ £ 55,007 (67,732) 55,007 (67,732) 1,351 (1,027) 1,351 (1,027) Income Expenditure £ £ 106,387 (51,763) 106,387 (51,763) 1,056 (1,056) 1,056 (1,056)	Investm't gains £ 2,367 2,367 - - Investm't gains £ 13,873 13,873 - -	Transfers £ - - - - Transfers £ - - - -	Balance at 31.3.22 £ 131,901 131,901 324 324 Balance at 31.3.21 £ 142,259 142,259 - -

Explanation of funds

The General fund represents all income and expenditure relating to the primary focus activities of the charity, other than those for which funding is restricted.

The Hungary and Serbia fund represents funds raised in the UK to support missionary work in those countries.

11. Directors' and other related parties' transactions

No Director received any remuneration from the charity (2021: nil). Expenses were claimed and reimbursed for travel for Stuart Rankin (£61) and Madeleine Robins (£56).

No donations were received from Directors or individuals related to the Directors in the year (2021: £nil).

There were no other transactions with related parties during the year (2021: nil).

12. Liability of Members

The company is limited by guarantee, with the liability of each member limited to £1. The members of the Company are those Trustees listed on page 1.

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