HOUSE OF BREAD MINISTRY

	Page
Reference and Administrative Details	1
Trustees' Report	2—3
Independent Examiner's Report	4
Statement of Financial Activities (including Income and Expenditure Account)	5
Statement of Financial Position	6
Notes to the Financial Statements	7—10

Aims and Objectives

The Object of the charity is for the public benefit, the advancement of the Christian faith in accordance with the Statement of Faith in such ways as the Charity Trustees may from time to time decide

Public Benefit

House of Bread Ministry is committed to enabling as many people as possible from the local community to worship at and become part of our church. There is a large Romanian community in Watford and surrounding areas and we aim to serve it as much as we can. The service is delivered in Romanian but all are welcome to attend, and we endeavour to provide simultaneous interpreting in English, through headphones, to any guest who wishes to join us in worship but does not speak Romanian. The Trustees have considered the Charity Commission’s guidance on public benefit, and particularly the specific guidance on charities for the advancement of religion. We try to enable ordinary people in our community and neighbouring boroughs, from any denomination and background, to live out their faith through worship and prayer, Bible study, missionary and outreach work. Our church also aims to provide pastoral care to people in the community and reach out to those who are in need, sick or homeless.

The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.

Additional Note

From time to time, we may offer grants to other charities, individuals and organisations who promote the advancement of the faith. This year, we have given grants of £8800 for church planting, food aid and pastoral support to our brothers and sisters in Madagascar; grants totalling £600 to our Romanian mission partners for evangelism in Romania. We could not have done all our work without the contribution of our many volunteers, who have listened to the calling of our Lord and have selflessly devoted their time and finances to spread the Good News both locally and overseas.

Main Achievements

Worship and Prayer

Our church had three worship services per week. We had our morning and evening Sunday services, and another service Thursday evenings, where people came together to worship, praise the Lord through music and prayers, and listen to the word of God through the sermon delivered by preachers in our church or visiting speakers. There was another prayer service every Tuesday evening, when the atmosphere was more contemplative, quiet and intimate. Our church gathered for worship at Hollywell Primary School, where we leased the sports hall and, at times the canteen area, when we have church events with food served.

Pastoral Care

Our church runs Sunday school every week except on school holidays. Dedicated brothers and sisters in our church, who are of good character and knowledgeable of the Bible, deliver this service, while one of the church board members, brother Daniel Grancea, coordinates it. The children are taught important lessons from the Bible, through games, play and written/video materials. The youth group also meets every Sunday evening for Bible study and prayer.

Mission and Evangelism

We had no membership fee or fundraising events, but everyone has always been encouraged to find their place in the body of Christ, the church, and contribute not only financially, within their means, but also with their time, prayers and effort, which most of our members do. We organise one collection every first Sunday of the month to raise funds for our missionary work in Madagascar. We have also had a missionary trip to Madagascar, to spread the Gospel in the remote areas around Manakara, and to provide aid and support for our brothers and sisters in Christ that live in that area. Every first Sunday morning of the month is dedicated to spreading the Word of God in the centre of Watford, through song, prayer and preaching the Gospel to all who want to listen.

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HOUSE OF BREAD MINISTRY

Trustees' Report (continued)

For The Year Ended 31 August 2025

Statement of Trustees' Responsibilities

The trustees (who are also the directors of HOUSE OF BREAD MINISTRY for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statement unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgments and accounting estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The trustees' report was approved by the board of trustees and signed on its behalf by:

Dorel Grec

Trustee

27/08/2026

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HOUSE OF BREAD MINISTRY

Independent Examiner's Report to the Trustees of HOUSE OF BREAD MINISTRY

For The Year Ended 31 August 2025

Independent Examiner's Report to the Trustees of HOUSE OF BREAD MINISTRY

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2025.

Responsibilities and Basis of Report

As the charity trustees of the Company (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent Examiner's Statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Martin Nsiah FCCA

27/06/2026

KALOMART & CO ACCOUNTANTS

Chartered Accountants

First Floor
2 Market Place
London
London
SE16 3UQ

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HOUSE OF BREAD MINISTRY

Statement of Financial Activities (including Income and Expenditure Account)

For The Year Ended 31 August 2025

Statement of Financial Activities (including Income and Expenditure Account)

		2025	2024
		Unrestricted funds	Unrestricted funds
	Notes	£	£
INCOME AND ENDOWMENTS FROM:
Donations and legacies	3	35,911	72,181

EXPENDITURE ON:
Raising funds	5	(6,648 )	(11,742 )
Charitable activities:	5
Church Expenses		(24,038 )	(35,313 )
Charitable Donation and Gifts		(10,124 )	(22,907 )

		(40,810 )	(69,962 )

NET (EXPENDITURE)/INCOME		(4,899 )	2,219


NET MOVEMENT IN FUNDS		(4,899 )	2,219
RECONCILIATION OF FUNDS:
Total funds brought forward		30,728	28,509

TOTAL FUNDS CARRIED FORWARD	10	25,829	30,728

The notes on pages 7 to 10 form part of these financial statements.

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HOUSE OF BREAD MINISTRY

Statement of Financial Position

As At 31 August 2025

Statement of Financial Position

		2025	2024
		Unrestricted funds	Total funds
	Notes	£	£
FIXED ASSETS
Tangible Assets	8	11,647	13,629

		11,647	13,629
CURRENT ASSETS
Cash at bank and in hand		14,782	17,699

		14,782	17,699
Creditors: Amounts Falling Due Within One Year	9	(600 )	(600 )

NET CURRENT ASSETS (LIABILITIES)		14,182	17,099

TOTAL ASSETS LESS CURRENT LIABILITIES		25,829	30,728

NET ASSETS		25,829	30,728

FUNDS OF THE CHARITY
Unrestricted Funds		25,829	30,728

TOTAL FUNDS	10	25,829	30,728

For the year ending 31 August 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of trustees on 27 August 2026 and were signed on its behalf by:

Dorel Grec

Trustee

The notes on pages 7 to 10 form part of these financial statements.

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HOUSE OF BREAD MINISTRY

Notes to the Financial Statements

For The Year Ended 31 August 2025

Notes to the Financial Statements

1. General Information

HOUSE OF BREAD MINISTRY is a company limited by guarantee, incorporated in England & Wales, registered number 12818200 and registered charity number 1203457 . The registered office is .

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "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) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The charitable company is a Public Benefit Entity as defined by FRS 102.

2.2. Incoming Resources

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it

is probable that the income will be received and the amount can be measured reliably.

2.3. Resources Expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

20% RBM

2.5. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

3. Income from Donations and Legacies

	2025	2024
	Unrestricted	Unrestricted
	funds	funds
	£	£
Donations and gifts	35,911	72,181

4. Net Income/(Expenditure)

The net (expenditure)/income is stated after charging/(crediting):

	2025	2024
	£	£
Depreciation of tangible fixed assets - owned	2,912	4,543

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HOUSE OF BREAD MINISTRY

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

5. Analysis of Expenditure

			2025
	Activities undertaken directly	Support costs (see note 6 )	Total
	£	£	£
Raising funds	-	6,648	6,648
Church Expenses	20,526	3,512	24,038
Charitable Donation and Gifts	-	10,124	10,124

	20,526	20,284	40,810

			2024
	Activities undertaken directly	Support costs (see note 6 )	Total
	£	£	£
Raising funds	-	11,742	11,742
Church Expenses	30,170	5,143	35,313
Charitable Donation and Gifts	-	22,907	22,907

	30,170	39,792	69,962

6. Support Costs

				2025
	Raising funds	Church Expenses	Charitable Donation and Gifts	Total
	£	£	£	£
Employee costs	4,118	-	-	4,118
General administration	2,530	600	10,124	13,254
Depreciation	-	2,912	-	2,912

	6,648	3,512	10,124	20,284

				2024
	Raising funds	Church Expenses	Charitable Donation and Gifts	Total
	£	£	£	£
Employee costs	7,543	-	-	7,543
General administration	4,199	600	22,907	27,706
Depreciation	-	4,543	-	4,543

	11,742	5,143	22,907	39,792

7. Average Number of Employees

Average number of employees during the year was: 3 (2024: 2)

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HOUSE OF BREAD MINISTRY

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

8. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 September 2024	29,777
Additions	930

As at 31 August 2025	30,707

Depreciation
As at 1 September 2024	16,148
Provided during the period	2,912

As at 31 August 2025	19,060

Net Book Value
As at 31 August 2025	11,647

As at 1 September 2024	13,629

9. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Accruals and deferred income	600	600

10. Movement in Funds

	As at 1 September 2024	Income	Expenditure	As at 31 August 2025
	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	30,728	35,911	(40,810 )	25,829


Total funds	30,728	35,911	(40,810 )	25,829

	As at 1 September 2023	Income	Expenditure	As at 31 August 2024
	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	28,509	72,181	(69,962 )	30,728


Total funds	28,509	72,181	(69,962 )	30,728

11. Transactions with Trustees

During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows:

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HOUSE OF BREAD MINISTRY

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

	2025	2024
	£	£

12. Related Party Disclosures

13. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

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Trustees	Dorel Grec - Chair
	Corneliu MOSCU
	Ionut CIRDEI - Treasurer


Charity Number	1203457

Company Number	12818200

Independent Examiner	Martin Nsiah FCCA
	KALOMART & CO ACCOUNTANTS
	Chartered Accountants
	First Floor 2 Market Place London London SE16 3UQ