## BIBLE FAITH HOLINESS CHURCH LIMITED (A Company Limited by Guarantee Without Share Capital) Company Registration No: 2631528 Charity Registration No: 1013862 ## ACCOUNTS & REPORTS For the Year Ended 31 December 2024 ## FANLA & CO (ACCOUNTANTS & CONSULTANTS) ## **BIBLE FAITH HOLINESS CHURCH LIMITED** ## CORPORATE INFORMATION DIRECTORS: ## SAMUEL OLADEJO OLAGUNJU (DR) CHRISTOPHER AKINOLA OLUBODE SECRETARY: POPSON JAIYESIMI INDEPENDENT EXAMINER: FANLA & CO (ACCOUNTANTS & CONSULTANTS) UNIT 10, WARWICK HOUSE OVERTON ROAD LONDON SW9 7JP REGISTERED OFFICE: 70 GRANGE PARK ROAD LONDON E10 5ES COMPANY NUMBER: 2631528 REGISTERED CHARITY NO: 1013862 REPORT AND ACCOUNTS: 31 DECEMBER 2023 Page 2 - INDEPENDENT EXAMINER'S REPORT - 3 - REPORT OF THE TRUSTEES - 4 - BALANCE SHEET - 5 - STATEMENT OF FINANCIAL ACTIVITIES - 6 - NOTES TO THE ACCOUNTS **-1-** ## **INDEPENDENT EXAMINER'S REPORT** To The Trustees of ## **BIBLE FAITH HOLINESS CHURCH LIMITED** ## **Charity No: 1013862** On the Accounts for the year ended 31 December, 2024 Set out on the attached sheets. ## **Respective Responsibilities of Trustees and Examiner** As trustees you are responsible for the preparation of the accounts. You consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed. It is our responsibility to: - examine the accounts under section 43 of the 1993 Act, - follow the procedures laid down in the general Directions given by the Charity Commission (under section 43(7)(b) of the 1993 Act, and - state whether particular matters have come to our attention. ## **Basis of Independent Examiner's Statement** Our examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below. ## **Independent Examiner's Statement** In connection with our examination, no matter has come to our attention 1. which gives us reasonable cause to believe that, in any material respect, the requirements: - to keep accounting records in accordance with section 41 of the 1993 Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act have not been met; or 2. to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## **Signed:** fanla&co **Date:** 28/09/2025 ## **FANLA & CO** UNIT 10, WARWICK HOUSE OVERTON ROAD LONDON SW9 7JP **-2-** ## **BIBLE FAITH HOLINESS CHURCH LIMITED** ## REPORT OF THE TRUSTEES The trustees present with pleasure their Annual Report together with the accounts of the trust for the year ended 31 December 2024. The charity is managed as usual by the trustees and staffed by volunteers, one part-time pastor and a part-time administrator. The charity visits the homeless people and provides food and clothes for them. As in the past, The charity visits the detainees at the Gatwick Detention Centre once every month to encourage and pray for them. The charity built a Baptism Pool for personal use and the use of neighbouring Churches. The charity is still enjoying a covenant relationship with Kingdom Faith Church at Horsham, West Sussex. The charity continues to makes the Church Hall available for the use of Dynamic Ministry after our own service at a minimum charge. In our Overseas Mission, the charity continued to invest in the Bore Hole/Water project to provide drinkable water for the rural areas in Ibadan, Nigeria. By order of the Board Secretary's Signature pjaiyesimi Name POPSON JAIYESIMI Date of Approval 30/09/2025 **-3-** ## **BIBLE FAITH HOLINESS CHURCH LIMITED** ## **BALANCE SHEET** **----- Start of picture text -----**
as at 31 December 2024 2024 2023
notes
Fixed Assets £ £
Tangible Assets 3 316,162 316,162
Investments - -
Total Fixed Assets 316,162 316,162
Current Assets
-
Debtors & Prepayments
Cash in Hand & at Bank 7,613 7,611
Total Current Assets 7,613 7,611
Current Liabilities
Creditors & Accrued Expenses 600 500
Total Current Liabilities 600 500
Net Current Assets/(Liabilities) 7,013 7,112
Total Net Assets 323,176 323,274
REPRESENTED BY
ACCUMULATED FUND
Opening Balance 251,250 242,771
Net Incoming/(Outgoing) Resources for the year 10,417 8,479
Building/Mortgage Loan 61,509 72,024
Closing Balance 323,176 323,274
**----- End of picture text -----**
For the year ending 31 December 2024 - a) the company was entitled to exemption from audit under section 477(2) of the Comapanies Act 2006 - b) the members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006 - c) the directors acknowledge their responsibility for: i) ensuring the company keeps accounting records which comply with Section 386; and - i) preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year, and of its profit or loss for the financial year, in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as is applicable to the company slagunju Signature slagunju Name DR S O OLAGUNJU - director 30/09/2025 Date of Approval **-4-** ## **BIBLE FAITH HOLINESS CHURCH LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES** |for the year ended 31 December 2024
**(all unrestricted funds)**
**notes**
**Incoming Resources**
Donations, Tithes, Contributions, etc.
2
Income Tax Recoverable
Other Income
Bank Interest Received Less Paid
**Total incoming resources**
**(a)**
**Resources Expended**
**_Cost of Generating Funds_**
_Administrator_
Gift to Members & Entertainment Expenses
**_Charitable Expenditure_**
_Grants & Donations Payable_
Donations & Subscriptions
Donation to Sister Ministries/Overseas Projects
_Costs of activities for charitable objectives_
Evangelical/Pastoral/Conferences
Teaching Materials/Training Expenses
Motor Running/Travellling
Recording Expenses
_Support Costs_
Repairs & Premises Maintenance
Light, Heat & Water
Telephone, Fax & Internet
Printing, Stationery & Computer Expenses
Advertisement
Insurance
Sundries
_Management & Administration_
Bank Interest & Charges
Legal/Professional Fees
Independent Examiners/Accountancy
Depreciation
**Total Resources Expended**
**(b)**
**NET MOVEMENT IN FUNDS**
**(a-b)**
Balance b/f at 1st January
Balance c/f at 31st December|**2024**
**£**
**25,583**
**-**
**10,590**
**67**
**36,240**
**3,486**
**200**
**4,793**
**3,015**
**4,168**
**664**
**1,674**
**891**
**1,327**
**1,322**
**514**
**3,169**
**-**
**34**
**566**
**25,823**
**10,417**
237,972
**248,389**|**2023**
**£**
**25,757**
**-**
**9,775**
**147**
**35,679**
**4,351**
**200**
**5,830**
**3,306**
**3,948**
**970**
**1,402**
**750**
**1,274**
**1,171**
**480**
**3,018**
**-**
**-**
**13**
**487**
**27,200**
**8,479**
229,493
**237,972**| |---|---|---| **-5-** ## **BIBLE FAITH HOLINESS CHURCH** ## **NOTES TO THE ACCOUNTS** For the year ended 31 December 2024 ## 1.0 ACCOUNTING POLICIES - 1.1 Basis of Accounting: The Accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice on Accounting by Charities. - 1.2 Fixed Assets: Fixed Assets are stated at cost - 1.3 Depreciation: Depreciation is provided on the straight line basis to write off fixed assets over their expected useful lives as follows: |Land & Building|0% p.a| |---|---| |Office & Equipment|15% p.a| |Furniture & Fittings|15% p.a| |Motor Vehicle|15% p.a| - 2.0 INCOME: Income consists of Tithes, Church Building Pledges, Donations, Thanks Giving, Bank Interest Earned (Less Interest Paid), Gift Aids Tax Credit and Members Contributions for the year. - 3.0 TANGIBLE FIXED ASSETS: Tangible fixed assets are made up of the following: |**COST**
**As at 1 January 2024**
Additions/(disposals) during the yr
**At 31 December 2024**
**DEPRECIATION**
**As at 1 January 2024**
Charge for the year
**At 31 December 2024**
**NET BOOK VALUE**
**At 31 December 2024**
**At 31 December 2023**|Land &
Office
Furniture
Motor
Buildg.
Equipmt
& Fittings
Vehicle
Total
316,162
23,136
2,710
2,150
344,158
-
-
-
-
-
316,162
23,136
2,710
2,150
344,158
-
23,136
2,710
2,150
27,996
-
-
-
-
-
-
23,136
2,710
2,150
27,996
**316,162**
**-**
**-**
**-**
**316,162**
**316,162**
**-**
**-**
**-**
**316,162**| |---|---| **-6-**