THE CHURCH OF OUR LORD JESUS CHRIST OF THE APOSTOLIC FAITH INCORPORATED Charity Registration No 295062 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 THE CHURCH OF OUR LORD JESUS CHRIST OF THE APOSTOLIC FAITH INCORPORATED Contsnts Page Trustees, Report Accountants, Report Income and Expenditure Account Balan￿ Sheet Notes to the Financial Ststements Page I THE CHURCH OF OUR LORD JESUS CHRIST OF THE APOSTOLIC FAITH INCORPORATED TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present the financial statements of the charity for the year ended 31 March 2024. The financial statements have been prepared in accordan￿ with the Financial Reporting Standards for Smaller Entities, the Companies Act 2006 and follow the recommendations in Accounting and Reporting by Charities: Statement of Recommended Practice. Objectives Of The Charity The object of the charity is to promote spiritual growth and education of the Gospel in our community. Trustees The following were trustees of the charity throughout the year unless otherwise stated: C Thomas P Gordon RA Weir This report was approved on behalf of the Board on the 30 January 2025. P Gordon Twstee P88e 2 ACCOUNTANTS. REPORT TO THE TRUSTEES ON THE UNAUDITED ACCOUNTS OF THE CHURCH OF OUR LORD JESUS CHRIST OF THE APOSTOLIC FAITH INCORPORATED FOR THE YEAR ENDED 31 MARCH 2024 As described on the balan￿ sheet you are responsible for the preparation of the accounts for the year ended 31 March 2024. set out on pages 3 to 5 and you consider that the company is exempt from an audit. In accordance with your instructions. I have compiled these unaudited accounts in order to a5SlSt you to fulfill your statutory responsibilities from the accounting records and infomation and explanations supplied to us. WSManlz&Co Chartered Accountants 90 Brixton Hill London SW2 1QN Date: 30 January 2025 Page 3 THE CHURCH OF OUR LORD JESUS CHRIST OF THE APOSTOLIC FAITH INCORPORATED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Incoming Resoures Offerings Other Income 94.056 1.657 95,713 104,501 312 104,813 Resources Expended Cost of generating funds Premises cost Convention & Education Printing & Publicity 33,546 12.003 26,867 6,395 45,549 33,262 Charitable Expenditure Staff costs Professional Fees Depreciation Administration expenses Total Resources Expended 46,952 1,484 46,755 1,457 3,001 51,437 3,400 51,612 Net Movement In Funds (1,273) 19,939 Totsl net funds at 31 March 137,667 138,940 All income and expenditure on ordinary activities are attributable to continuing operations The company has no recognised gains or losses other than the income for the year. Page 4 THE CHURCH OF OUR LORD JESUS CHRIST OF THE APOSTOLIC FAITH INCORPORATED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Flxed Assets Equipment NBV BIFwd Additions Depreciation for the year Equipment NBV CIFwd Current Assets Bank & Cash other Debtors 139,984 140,855 139,984 140,855 Current Llabllitles Creditors: Amounts falling due within one year 2,317 1,915 Net Current Assets 137.667 138,940 Net Assets 137,667 138,940 Unre5triGted Funds Accumulated Fund Excess Income l (Expenditure) ForThe Year 138,940 {1.273) 119,001 19,939 137,667 138,940 In preparing thG5e financial 51atem¢nts". For the ycar cnd¢d 3 l MarGh 2024 th¢ tharitywas entided trj eX￿ptiOll from 8uditutsdu 5e¢tioa 477 of the Companies Act 2006 relatirtg to stnall companies. The Th]5tees r¢sponsibilitie5- The members have not required the company th obtain an audit of its accounts forth¢ year in questioD in accordatsc¢ with section 476. Th¢ Trustets acknowledge their r¢spoDsibiliti¢5 fDr cornplyingN￿ the r¢quirem¢nts of th¢ Act witb resp¢ct to a¢￿unting records and the prep￿atiOn of accounts. The5¢ aGfA)unts have been prepared in a￿COldanCevLththC provisions applic4bl¢ to uJmpanie& subje£t to the small ¢omp8nits regimc. The aGcouThts werc 4pprovr4J by the bDaTd on thc 30 January 2025 and sisned on its bch81f. P Gordon The notes on pè8e 5 forni part ¢)f thesc *cco￿nts. Page 5 THE CHURCH OF OUR LORD JESUS CHRIST OF THE APOSTOLIC FAITH INCORPORATED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting Policles Basis Of Preparation Of Accounts The accounts have been prepared under the historical cost convention using the following accounting policies. Income Resources and Expenditure Income and expenditure is included on an accruals basis wtth fee income related to courses being recognised in the accounts at conclusion of relevant courses. Income and expenditure is allocated in the different categories of the Statement of Financial Activities on a basis which reflects the day to day operations of the charity. Salary costs are allocated on a percentage basis which reflects the responsibilities of individual employees. Depreciation Depreciation is calculated to write off the cost of the fixed assets over their useful lives, using the following rates and methods: Category Rate Method Equipment 25010 Reducing Balance Depreciation is increased if the net book value, as calculated using the above rates. is higher than the expected residual value. Cashflow The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.