Living Branch MiDlStries
known as The Way Bible College
Statement of Financial Activities for the Year Ended 30 June 2023
(Including Income and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Uiireslricted
fund.
Total
2023
Nole
Income and Endoivments from:
Donations and legacies
Charitable activities
5.402
8,716
5,402
8,716
Total income
14,118
Expenditure on".
Ch<lrilable activities
(15,639)
(15,6J9)
Total expenditure
Nel expenditure
Net movement in funds
(15,6i9)
{15,6J9)
(1,521)
R¢eoncili#tion of funds
Toial funds brought forward
Total funds carried forward
5.220
5,220
3,699
ljiirestricted
fiiiids
i.699
TotHI
2022
Note
Income and Endoivmenls from:
Donations and le￿￿1cleS
Charitable aciivities
6,779
7,588
6,779
7,588
Total income
14,367
Expenditu re on:
Charitable activities
(9,976)
(9.976)
Total expenditure
(9.976)
(9.976)
Nel income
4,i91
4.i91
Nel movement in funds
4.i91
4.391
Reconciliation of fund5
Total funds brouoht forward
829
829
Total ftinds Ca￿led forward
5,220
-5,220
All of the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for 2022 is shown in note I l.
The notes on pages 13 10 18 forni an integral part of th¢se financial slateinents.
Page 11

Living Branch Ministries
known as The Wav Bible College
{Registration number: N1641493)
Balance Sheet as at 30 June 2023
2023
2022
Note
Current assets
Debtors
Cash al bank and in hand
30
5,274
290
5,610
5,i04
5,900
Creditors: Amounts f011ing due within one year
Net assets
10
{1.605)
{680)
i.699
5,220
Fuiids of the ch# rity:
Unrestricted income funds
Unrestricted funds
3,699
5,220
Total funds
3,699
5,220
For the financial year ending 30 June 202) the charily was entitlcd 10 exemption froin audit under seclioi) 477 of
the Companies Act 2006 relating to small coinpanies.
Directors, responsibilities..
The members have not required the charily to obtain an audit of its accounls for the year in qucslion in
accordance with section 476. and
The dircctors acknowledge Iheir responsibililies for complying with the requirements of the Act with respect
to accounling records and the preparation of accounts.
These financial statements have been prepared in accordance with tl)e special provisions relating lo coimi)anies
Slibjecl to the small companies regime withiii Part l S of the Companies Act 2006.
The financial slaleinents on pages I I to 18 were approved by the trustees. and auihorised for iSSLie on 29
February 2024 and sioned on their behalf by=
Samuel Patrick H(Iil
Coinpany secretary and trustee
The notes on paue5 13 to l 8 forni an integral part of these finaiicial stateTnents.
Page 12

Living Branch Ministries
known as The Way Bible Colleoe
Notes to the Financial Statements for the Year Ended 30 June 2023
I Charity status
Tlie cliarity is limiied by guarantee, incorporated in and consequently does not have sliare capital. Eacli of the
ti'ustees is liable to contribute an amount not exceedino £1 towards the assets of the charity in the event of
liquidation.
The address of its registered office is:
43 East Mount
Newiownards
BT23 8SE
These fiiiancial stat¢menis were auihorised for issue by ihe t￿Ste¢S on 29 February 2024.
2 Accounting policies
Summarv of sigiiificxnt gccoiintiiig policies and key accounting estiniAtes
Tlie priiieipal accounting poli¢ies applied in the preparation of these financial slaleinenls are Sei out below.
These policies have been consistently applied to all ihe years presented, unless otherwise stated.
Statenient ol compliance
The financial statements have been prepared in accordance wifh Accountiiig and Reporting by Chai'ilies..
Slaleinenl of Recommended Practice (applicable to charities preparin
tlieir accounts in accordaiice willi Ilie
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019)
(Charities SORP (FRS 102)), thc Financial Reporting Standard applicable in (he UK aiid Republic of Ii'elaiid
(FRS 102) and ihe Companies Act 2006.
Basis of preparation
Livin
Branch Ministries meets the definilion of a public benefit entity linder FRS 102. Assets and IiiG bilities are
initially recognised ai liistorical cost or Iransaction valuc unless othcnvise stated in tlie relevaiil accoui)ling
policy notes.
Cvoing concern
The triistees consider Iliat there are no malerial uncertainties about the charity's ability to ¢Diitii)Iie as ci going
concern nor any significant areas of uncertainty that affect the canyiiig value of assets held by Ilie charity.
Incomc and endoivments
All income is recognised once the charity has entitlement to tlie incoime, it is probable that the income will be
received and the amount of the income receivable can be measured reliabl),.
Doiiuli1i11s uiid leRllcies
Donation.5 are recoonised when the charity has been notified in writiniy of both Ihe al￿oUnt and settleimei)t dale.
In the event that a donation is subject lo condition5 thal require a level of perforniaiice by the charity befoi'e the
charity is entitled to the funds, the income is deferred and not recounised until eitlier tl)ose conditioiis al'e fully
met. or the fulfilnient of those conditions is wholly within the control of the charity and it is probable tliat tliese
¥ period.
conditions will be fulfilled in the reportin(v
Page 13

Living Branch Ministries
known as The Wav Bible College
Notes to the Financial Statements for the Year Ended 30 June 2023
Deferred incnme
Deferred income represents amounts received for future period5 and is released to incoming resources in the
period for which, it has been received. Such income 15 only deferred when-
The donor specifies that the grant or donation must only be used in future accounling periods. or
The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Expenditure
Al l expeiidilure is recognised once ihere is a legal or con5truclive obliuation to that expend iture. it is probable
settlement is required and the amouni can be measured reliably. All cosls al'e allocated lo tlie applicable
expenditure hec1ding that aoorcgate similar costs to Ihat category. Wliere costs cannot be direcily attribuied to
P1< rticular l)eadinus they liave been 4?Ilocated on a basis consistent wilh Il)e use of resource5. Wltli ceiiti'al stafl.
costs allocaied on the basis of tiine spent. and depreciation charges allocated on the portion of the assei's use.
Other suppon costs are allocated based on the spread of slaff cosis.
Cliiirilable iiclivilie.¥
Chiiritable expenditure comprises those costs incurred by the charity in the del ivery of its activities ai)d sei'vices
for irs beneficiaries. It includes both costs thai can be allocaied directly to such activities and Il)ose costs of ai)
indirect naiure necessary to support them.
Supp()rt costs
Support cosis include central functions and have been allocated ¢0 activity cost caiegories on a basis consisieiil
with the use of resources. for example. allocating property cosls by floor areas. or per capita. staff costs by tlie
time spent and other cosis by their usage.
TaxAtii)ii
Tl)e chclrily is considered lo pass the tests set out in Paragraph I Schedule 6 of the Finaiice Aci 2010 And
therefore it meets the definition of a chariiable company for UK corporalion tax purposes. Accordiiigly. Il)c
chc1rily is potentially exempt from taxation in respect of income or capital
¢)ains received wiihiii ¢ate(Fories
covered by Chapter 3 Plf rt I l of the Corporation Tax Aci 2010 or Section 256 of tl)e Ta.X<21ion nf Cliargieable
Cjains Act 1992, to the extenl that such income or gains are applied exclusively lo charitable purposes.
Trade dtbtors
Trade debtors are amounts dLie from Customers for merchandise sold or services perforiiied in tlie ordii)<ll'y
course of business.
Trade debiors are recognised inilial ly at the transaction price. They are subsequently measured at arnortised cost
using the efteclive interest metliod, le55 provision for impainnent. A provision for the impainnent of trade
debtors is established when there is objective evidence that the charity will iiot be able to collect all ainouiits due
according lo tlie original terms of the receivables.
Cash a nd cash equiv4q lents
Cash and cash equivalents comprise cash on hand and call deposits. and other shon-cerm liighly liqiiid
investmen15 that are readily convertible to a known amount of cash and are subject to ali insigiiificant I'isk nf
hange in value.
Page 14

Living Branch Ministries
known as The Way Bible College
Notes to the Financial Statements for the Year Ended 30 June 2023
Trade creditors
Ti'<ide creditors are oblioations to pay for tsoods or services that have been acquired in the ordinaiy coui'se of
business froin suppliers. Accounts payablc are classified as current liabilities if the charity does not liave ali
unconditional right. at the end of the reporting period. to defer scttlemeni of the creditor for at least twelve
Inonths after the rcportinu date. If there is an unconditional righi to defer seltleiMent for at least twelve Inontlis
after ihe reporting date, they are presented as non-current liabilities.
Trad¢ creditors are recognised initially at the transaclion price and subsequently measured at ainoitised cost
using the effective interest method.
Borrowiiigs
Interesl-bearing borrowings are inifially recorded at fair value, nel of Ii'ansaciion cosis. Intei'esr-bearii)g
borrowings are subsequently carried at amortised cost. with the differeiice between the pi'oceeds. net of
transaction costs, and the amount due on redemption being recognised as a charge lo the Statement of Finaiicial
Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest metliod aiid is included in interest payable
and siinilar charges.
Borrowii)gs are classified R.% current liabilities unless the charity has an unconditional ri¥l)I to defer setllei)ieiil of
Ihe liabi l ity for at lea.%1 twelve inonihs after the reporrincy date.
Fund structure
ljnrestricled income fuiids are general funds that are available for use at t17e trustees discretion in furtliei-ance of
the objective5 of the charity.
3 Income from (lonatioJi$ and legacies
Uilreslricled
fiiii(15
GeiierAI
Tnta I
Donations and legacies,.
Donations froni individual.s
5.402
5,402
Total for period eii(Jed 30 June 2023
TotRI fur pcriod ended 30 June 2022
5.402
i,402
6.779
Paae 15

Living Branch Ministries
known as The Wav Bible College
Notes to the Financial Statements for the Year Ended 30 June 2023
4 Income from el)41 rita ble activities
Unre51ricted
funds
General
Total
funds
Tuition fees
Gift Aid
Refunds
College Tea Boat
8.006
490
8,006
490
108
108
Total for period ended 30 June 2023
8,716
8,716
Totxl for period endcd 30 June 2022
7.588
7,588
5 Expeiiditure on Chnritable activities
Uiireslrieled
fil lids
General
Tol411
fuiids
Tuition
A Ilocaled support costs
10,301
5.338
10,301
Totiql for period ended 30 June 2023
15,639
15.639
TotAI for period en(led 30 June 2022
9,976
9.976
Page 16

Livino Branch Ministries
known as The Way Bible College
Notes to the Financial Statements for the Year Ended 30 June 2023
6 Triistees remuneration and expenses
During the year the charity Inade the following transactions wi(h (rusiees..
Jeannie Diane Hartley
Jeannie Diane Hartley received remunerdtion of £2,000 (2022- £Nil) during the year.
Diane was remuerated for the delivery of lecÉur¢s
During the year £2,436 was reinbursed to trustees relating to travel expenses.
7 T#xation
The charity is a registered charity and is therefore exempt from iaxation.
8 Debtors
2023
2022
Trade debtors
30
290
9 Cash a nd cmsh equivalents
2023
2022
Cash al bank
5,274
5,610
l O Creditors". amounts falling due within one year
2023
2022
Trade creditors
Accruals
Deferred income
150
480
975
200
480
1.605
680
Page 17

Living Branch Ministries
known as The Way Bible College
Notes to the Financial Statements for the Year Ended 30 June 2023
I l Funds
Balance at I
July 2022
Incoming
resources
Resources
expended
alance at 30
Julie 2023
Unrestricted funds
General
5,220
14,118
(15.6)9)
3,699
Balance At I
November
2021
Incoming
resoii rces
Resoiirces
expciided
Balaiice Al 3Q
Julie ?0?2
Unrestricted funds
General
829
14.367
(9.976
5,220
Page 18