_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.
Page 2
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
1. 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
2. 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.
Page 5
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
Page 7
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.
Page 8
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).
Page 9
## 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|
|---|---|---|---|---|---|---|
Page 10
## 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.
Page 11