Living Branch Ministri
known as The Way Bible College
Statement of Financial Activities for the Year Ended 30 June 2024
(Including Income and Expenditure Account and Staternellt of Total Recognised Gains
aDd Losses)
Unrestrieted
funds
Totsl
2024
Note
Income and Endowments from:
Donations and legacies
Charitable activities
Investment income
12,576
13,684
49
12,576
13,684
49
Total income
26,309
26,309
Expenditure on:
Charitable actlvities
18,410)
(18,410)
Total expenditure
(18,410)
(18,410)
Net income
7,899
7,899
Net movement in fi￿dS
7,899
7.899
Reconciligtion of funds
Total funds brought forward
Total funds rarried forward
3,699
3,699
13
1.598
Unrestricted
funds
11,598
Totsl
2023
Note
Income and Endowmenls from:
Donations and legacies
Charitable artivities
5,402
8,716
5,402
8,716
Total income
14,118
Expenditure on:
Charitable activities
(15.639)
15,639
Total expenditure
15.639)
15,639)
Net expenditure
{1,521)
(1,521)
Net movement in funds
{1.521)
(1,521)
Reconeiliation of funds
Total funds brought forward
Total funds carried forward
5,220
5,220
13
3.699
3,699
All of the charity's activities derive from continuing operations during the above two periods.
The fimds breakdowi for 2023 is Sho￿ in note 13.
The notes on pages 13 to 19 forn) an integral part of these financial statements.
Pagell

Living Branch Ministries
known as The Way Bible College
(Registration number: N1641493)
Balance Sheet as at 30 June 2024
2024
2023
Note
Fixed assets
Tangible assets
1.656
Current assets
Debtors
Cash at bank and in hand
io
30
5,274
10,443
10,446
5,304
Creditors: Amounts falling due within one year
Net current assets
12
(504)
1,605
9,942
3,699
Net assets
11.598
3,699
Funds of the eharlty:
Unrestricted ineome funds
Unrestricted funds
11,598
3,699
Total funds
13
11,598
3,699
For the fu]ancial year ending 30 June 2024 the charity was entitled to exemption from audit under section 477 of
the Companies Act 2006 relating to small companies.
Directors, responsibilities:
The members have not required the charity to obtain an audit of its accounts for the year in question in
accordance with section 476. and
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect
to accounting records and the preparation of accounts.
These fmancial statements have been prepared in accordance with the special provisions relating to companies
subject to the small Companies regime within Part 15 of the Cornpanies Act 2006.
The fmancial statements on pages I I to 19 were approved by the trustees, and authorised for issue on 10
February 2025 and signed on their behalf by:
Samuel Patrick H
Company secretary and tr￿stee
The notes on pages 13 to 19 forni an inte￿ part of these financial statements.
Page 12

Living Branch Ministries
known as The Way Bible College
Notes to the Financial Statements for the Year Ended 30 June 2024
I Charity status
The charity is limited by guarantee, incorporated in , and consequently do¢s not have sh￿e capital. Each of the
trustees is liable to contribute an amount not exceeding £1 towards the &ssets of the charity in the event of
liquidation.
The address of its registered office is:
43 East Mount
Newtownards
BT23 8SE
These fll)ancial ststements were authorised for issue by the trustees on l O February 2025.
2 Accounting policies
Summary of significant accounting policies and key aeeounting estimate5
The principal accounting policies applied in the preparation of these fmancial statements are set out below.
These policies have been consistently applied to all the years Presente￿ unless otherwise stated.
Statement of Compllanee
The f￿an(la1 statements have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019)
- (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102) and the Companies Act 2006.
Basis of preparatlOD
Living Branch Ministries meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
initially recognised at historical cost or transaction value unless otherwise stated in th¢ relevant accounting
policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charitys ability to continue as a going
Concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Ineome and endowments
All income is recognised once the charity has entitlement to the income, it is probabl¢ that the income will be
received and the amount of the income receivable Can be measured reliably.
Donallons and legatla
Donations are recognised when the charity has been notified in writing of both the amount and settlement date.
.41
In the event that a donation is subject to conditions that require a level of perforn)ance by the charity before the
charity is entitled to the fijnds, the income is defeffed and not recognised until either those conditions are fully
met, or the fulfilment of those conditions is wholly within the control of the ¢haTity and it is probable that these
conditions will be fulfilled in the reporting period.
Page 13

Living Branch Ministrie8
known as The Way Bible College
Notes to the Financial Statements for tbe Year Ended 30 June 2024
Deferred Income
Deferred income represents amounts received for future periods and is released to incoming resources in the
p¢iiod for which, it has been received. Such income is only deferred when:
- The donor specifies that the grdnt or donation m￿st only be used in future accountin8 periods; or
- The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Inveslmenl income
Dividends are re¢ognised once the dividend h&$ b¢en declared and notification has been received of the dividend
due.
Expendlture
All expenditure is recognised once there is a legal or Constructive obligation to that expenditure, it is probable
settlement is required and the amount can be measured reliably. All costs are allocated to the applicable
expenditure h¢ading that aggregate similar costs to that cat¢gory. Where costs cannot b¢ directly attributed to
particular headings they have been allocated on a basis consistent with the use of resources, with central staff
costs allocated on the basis of time spenL and depreciation charges allocated on the portion of the asset's use.
Other support costs are allocated based on the spread of staff costs.
Charllable acllviiles
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services
for its beneficiaries. It includes l)oth costs that can be allocated directly to such activities and those costs of an
indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis ¢on51Stent
with the use of resources, for example. allocating property costs by floor areas, or per capita, staff costs by the
time spent and other costs by their usage.
Taxatlon
The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and
therefore it meets the defmition of a charitable company for UK corpordtion tax purposes. Accordingly, the
harity IS Potentially exempt from t&xation in respect of income OT capital gains received within categories
covered by Chapter 3 Part I l of the Corporation T&x Act 201 O or Section 256 of the Taxation of Chargeable
Gains Act 1992, to the extent that such incorne or gains are applied exclusively to charitable pwposes.
Tangible fixed assets
tndividual fixed assets costing £0.00 or more are initially recorded at.cosL less any subsequent accumulated
depreciation and subsequent accumulated impairn]ent losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or Valuatio￿ less any estimated
residual value, over their expected useful exonomic lift as follows:
Page 14

Living Branch Ministri&
knoTrvn as The Way Bible College
Notes to the Financial StateD]ent8 for the Year Ended 30 June 2024
Trade debtors
Trade debtors are amounts due from customers for m¢rchandise sold or services perforn)ed in the ordinary
course of business.
Trade debtOTS are re¢ognised initially at the transaction price. They are subsequently measured at amortised cost
using the effective interest method, less provision for impairnient. A provision for the impainnent of trade
debtors is estsblished when there is objective evidence that the charity will not be able to wllect all amounts due
according to the original temis of the receivables.
Cash and cash equivalents
Cash and cash ¢quivalents comprise cash on hand and ca]1 deposits, and other short-terni highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of
clwige in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary cowse of
business from suppliers. Accounts payable are classified &s current liabilities if the charity does not hav¢ an
unconditional righL at the end of the reporting period, to defer settlement of the creditor for at least twelve
months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months
after the reportlng date, they are presented &s non-current liabilities.
Trade creditors are reCO￿lSed initially at the transaction prirx and subsequently measured at amortised cost
using the effective interest method.
Borrowlngs
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing
borrowings are subsequently carried at amortised cosL with the difference between the proceeds, net of
transaction costs, and the amount due on redemption belng recognised as a charge to the Ststement of Financial
Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable
and similar charges.
Bo￿OWingS are classified as current liabilities unless the charity has an unconditional right to defer settlement of
the liability for at le&st twelve months aft¢r the reporting date.
Fund structure
Unr¢stricted income fun&8 are 8enera] funds that are available for ￿ at the trustees discretion in fiwtherance of
the objectives of the charity.
Page 15

Living Branch Ministries
Imown as The Way Bible College
Notes to the Financial Statements for the Year Ended 30 June 2024
3 Income from donatlODS and legaeies
UDrestricted
funds
General
Totsl
funds
Donations and legacies.
Donations from individuals
12,576
12,576
Total for 2024
12,576
12,576
Total for 2023
5,402
5,402
Page 16

Living Branch Ministries
known as The Way Bible College
Notes to the Financial Statements for the Year Ended 30 June 2024
4 Income from charitable aetivities
Unrestricted
funds
General
Total
funds
Tuition fees
Gift Aid
Sunday Meetings
6,315
2,426
4,943
6,315
2,426
4,943
Tolal for 2024
13,684
13,684
Total for 2023
8,716
8,716
S Investment income
Unrestricted
funds
General
Total
funds
Interest receivable and similar income.
Interest receivable on bank deposits
49
49
Tot81 for 2024
49
49
6 Expenditure on charitable activities
Unrestrieted
unds
General
Total
funds
Tuition
Allocated support costs
10,451
7,959
10,451
7,959
Tolal for 2024
18.410
18.410
Total for 2023
15,639
15.639
Page 17

Living Branch Ministries
known as The Way Bible College
Notes to the FiDancial Statements for the Year Ended 30 June 2024
7 Trustees remuneration and expenses
During the y¢ar the charity made the following trdnsactions with ttvstees:
Jeannie Diane Hartley
Jeannie Diane Hartl¢y received remuneration of £2.315 (2023: £2.000) during th¢ year.
Diane was remuerated for the delivery of l¢ctUT¢5
During the year £1,625 was reinbursed to trustees relating to travel expenses.
8 Taxation
The charity is a registered charity and is therefore exempt from Lwtion.
9 Tangible fixed assets
Furniture and
equipment
Total
Cost
Additions
2,071
2,071
At 30 June 2024
2,071
2,071
DepreeiatiOD
Charge for the year
415
415
At 30 June 2024
415
415
Net book value
At 30 June 2024
1,656
.656
10 Debtors
2024
2023
Trade debtors
30
Page 18

Living Branch Ministries
l£noTrvn as The Way Bible College
Notes to the Financi￿ Statements for the Year Ended 30 June 2024
11 Cash and eash equivalents
2024
2023
C&%h on hand
Cash at bank
Short-terni deposits
199
1,945
8,299
10,443
5.274
5,274
l2 Creditors: amounts falling due within one yerdr
2024
2023
Trade creditors
A¢¢n￿lS
Defe￿ed income
24
480
150
480
975
504
1,605
13 FuDds
Balance at I
July 2023
Incoming
resources
Resource5
expended
B8lanee at 30
June 2024
Unrestrlcted funds
General
3,699
18,410
11,598
Balance at I
July 2022
Incoming
resources
Rejourees
expended
Balance At 30
June 2023
Unrestrl¢t¢d fuDds
Genernl
5220
3,699
Page 19