Charity NumbeT 1023572 FAITH MINISTRIES Report and Accounts for the year ended 28 February 2024 FAITH MINISTRIES Report and Accounts for the year ended 28 February 2024 Contents Page Charlty Information Trustees. Report Staternent of Trustees, Responsibilltles Independent Examiner's Report Staternent of Flnancial Activities Balance Sheet Notes to the Accounts 8-13 Detalled Statement of Financial Activities 14 FAITH MINISTRIES Charlty Inforrnatlon for the year ended 28 February 2024 Charlty Number 1023572 Governing Instrument Declaration of Trust dated 21 June 1993 Trustee5 Lilian J F de Fin Alexander B C de Fin Kathryn Holland Brlan R Holland Peter de Fln Trust Objertive a) The advan￿rnent of the Christlan faith bl The relief of persons who are In conditions of need, hardshlp or distress or who are aged or slck cl The promotion of charltable purposes beneficial to the community Address 5 Sedber8h Close Bradford West Yorkshire BDIO 9FH Independent Examlner Samantha. J. Sutcliffe F.C.C.A. Torevell Dent Ltd Chartered Certified Accountants Centre of Excellence Hope Park Trevor Foster Way BRADFORD BD5 8HH FAITH MINISTRIES Trustees Annual Report for the year ended 28 February 2024 The trustees present their report and the unaudited financial statements of the charityfor the year ended 28th February 2024. Reference and admlnlstratlve detalls Reg15tered charlty name: Faith Ministries t/as Act5 Church Bradford Charlty Reglstration Number: 1023572 Prlncipal Offi￿ and reglstered offlce: 5 Sedbergh Close Bradford West Yorkshire BDIO 9FH Trustees Llllan J F de Fin Alexander 8 C de Fin Kathryn Holland Brian R Holland Peter de Fin Structure Governance and Mana ement The Charity is governed by the declaratlon of Trust dated 21st June 1993 as submitted at registratlon, In selecting individuals for appointment as trustees, the current trustees must have regard to the sklll5, knowledge and experience and those demonstrating their Christian faith and can be appointed accordingly. The Trustees meet a minimum of fourtlmes a year. Itls important to the charlty that the trustees review all aspects of church development. growth and expansion. Rlsk Mana ement Through the form31 process that is part of the trustees, work plan the trustees continued to assess the major rlsks to whlch the charity 15 exposed, in particular to those related to the operation5 and finance. Risk assessment continues to be revlewed on a regular basis in line with Health & Safety regulatlons. In addition Safeguarding reviews are regularly overseen by the Safeguarding Officer and team. FAITH MINISTRIES Trustee5 Annual Report {contlnued) for the year ended 28 February 2024 Ob'ectlves and Actlvltles The Objectives of the Charity are the proclamatlon and furtherance of the Christlan fatth and the demonstration of practical Christianity through acts of service within Bradford, the surroundlng districts, Yorkshire and throughout the UK. We are also committed to the prevention and relief of poverty, pastoral care, counselling and support for church members and for those new to the Christian falth. In addition we hold regular core activities that include teaching, prayer and pre3ching to encourage and equip members of the church to act5 of service. The Charity support5 those who are sick, including those who struggle with addiction and life- controlling issues. Prayer, Spiritual counselling and emotional support is available to anyone from the Pastoral Team at the individuals request. The Charity pursues its objectives by providing regular services of worship. preaching, teaching and prayer that is open to all members of the community- We are committed to furtheringthe Chrlstian faith by increasing the number of people who have the opportunity to be changed by the gospel of Jesus Christ. Achlevements and Perforniance The weekly prayer meetlng5, led by the team of Pastors have contlnued with steady growth along with other regular meetlngs in not only growing in numbers but providlng a valuable resource of teachlng. bible study and rnlnlstry and developing friendships and support within the group. The weekly children's ministry has continued to grow with additional volunteers required to ensure a safe environment for the children. The provislon of practlcal and emotlonal support for those who are marginalised, homele55, in financial need and the elderly and sick continues to Increase as the needs of the community rise particularly during the cost of living cri515. The charity ha5 seen an increase in those requiring help with the basics including, but not limited to, food, help with utility bills and clothing. Support for individuals and families has included but was not limlted to church members or those attending church regularly or otheTrvi5e. We contlnue to provide acce55 for all to our worshlp services via Zoorn and ensure we connect with as many people as possible via WhatsApp groups and the sharing of information that enables people to access our teaching and preaching. There have been no changes in the year to the leadership team. The charlty currently employs three members of Staff, however from April 2024 the staff member from Act5 Church South Africa will no longer be on the payroll of Att Church Bradford. There have been a number of national and international speakers who have visited Acts Church. The trustees agreed durin8 the year to honour the speakers by provldlng an honorarium to each guest along With the provision of accommodation and food. This ha5 continued throughout the year 2023124 with gue5t5 from all over the world including Mark Hemans, Alejandro Aria5, David McDonald and Reg Morris amongst others. FAITH MINISTRIES Statement of Trustee5 Responslbllltles forthe year ended 28 February 2024 Financlal revlew Full deta115 of the financial transactlons are contalned In the Accounts. The charity relies on giving from donors. as Identified in the accounts, whose support is invaluable. The biblical giving during our services has been the only way the charity has been funded. There have been no fundraisin8 activities. This funding ensured that the ¢hJrity can meet its flnancial obli8ation5 and continue to support those in need and provlde relief to Indivlduals and families. Financlal P051tlon The trustees consider the financial performance by the charity to be satisfactory. The trustees plan to retsin adequate reserves to fund its operations for around six months. The Trustee5 will continue to 5UPPOrt, where P055ible, those who find themselves in need and lor difficulties along with improving the church premises and increasing resources made available to the Chlldren's mlnistry and the worshlp Team but not limlted to those areas. Reserves Poll¢ The trustees contlnue to revlew the flnancial position of the charity and to ensure that appropriate fund5 are being contributed to enable the charlty to meet Its financial obllgations and then to fulfil the stated financial obJectNes of the charity. The Trustees agreed change5 to the Charities mean5 of collectlng weekly tithes and offerings and 8ifts by using outsourced 5ub5cription software packages. Thls has brought about some challenges but the Trustees are confident the changes place the charlty In a better position for the future. Investment Poll There have been no investments made by the charity withln this financial year. During thi5 accounting year Faith Ministries has been offered the 81ft of two houses from a couple who attend Act Church Bradford. This gift 15 to enable the purchase of a building for use as a church and communlty centre. Withln the next twelve months it is the intention of the Trustees to sell the houses and use the funds In addltion to other fund5 to purchase a sultable property. During this accounting period the Trustees had yet to make a decision on where and what that property would be and to look at options rEgarding finance. FAITH MINISTRIES Independent Examlnerfs Report to the Trustees of Falth Ministries for the year ended 28 February 2024 I report to the trustees on my exarnination of the accounts of the Faith Ministries (the Trust) for the year ended 28 February 2024. Ilesponslbllltles and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts In accordance with the requirements of the Charities Act 2011 {'the Act,) I report in respect of my examlnation of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Direction5 given by the Charity Commission under section 145151(bl of the Act. Independent examlner's statement I have completed my examination. I confirm that no material matters have come to my attentlon in connection with the examination giving me cause to belleve that in any material respect., l accountlng records were not kept in respett of the Trust as required by section 130 of the Act: or 2 the accounts do not accord with those records; or 3 the account5 do not comply wlth the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reportsl Regulatlons 2008 other than anv requirement that the accounts give a 'true and falr view, whlch is not a matter considered as part of an Independent examination. I have no concerns and have come across no other matter5 in connection with the examination to which attention should be drawn in thls report in order to enable a proper understanding of the accounts to be reached. Samantha. J. Sutcllffe FCCA Torevell Dent Ltd Chartered Certlfied Accountants Centre of Excellence Hope Park Trevor Foster Way BRADFORD BD5 8HH Date.. FAITH MINISTRIES ststement of Financlal Actlvltles forthe year ended 28 February 2024 Total Fund5 2024 Total Funds 2023 Unrestrirted Fund5 Restrlrted Funds Notes Income and endowments from: Donation5 and legacies 168,845 168,845 108,349 Total 168,845 168,845 108,349 enditure on.. Other 165,324 165.324 112,374 Total 165,324 165,324 112,374 Net Income/(expenditure) 3,521 3,521 {4,0251 Totsl funds brought forward 17,456 334 17.790 21,815 Transfer between funds Total funds carried forward 20,977 334 21.311 17,790 FAITH MINISTRIES Balance Sheet forthe year ended 28 February 2024 Total Funds 2024 Total Funds 2023 Unrestrlrted Funds Restrlcted Funds Notes Flxed Assets Tangible A55ets 5,935 5,935 4,252 Current Assets Debtors and prepayments Cash at bank and in hand 851 18,667 19,518 851 18.667 19,518 198 17,133 17,331 Llabilltles Creditors: amount5 due within one year 516 14,1421 (4,142) 13,7931 Net current assets 15,376 15.376 13,538 Net Assets 1.311 21,311 17.790 Fund5 Unrestritted funds Restricted funds 20.977 334 21.481 334 21,311 21.815 The Financial Statements were approved by the Trustees on.. 2024 .l(olLtr K Holland FAITH MINISTRIES Notes to the Accounts for the year ended 28 February 2024 l Accountlng Pollcles a) A¢countln8 Conventlon The Financial Statements have been prepared under the hlstorlc cost basis of accountlng, and are In accordance with appllcable accounting standards, the Charities SORP IFRS 1021 and the Charities Act 2011, b) Income and endowments All income and endowments are included in the statement of financial actiwties when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Costs of generatlng funds: Voluntary income comprises tlthes and freewill offerings from church members and others attending church serrfices. The trustees consider It impracticable to attribute costs to this income deeming all c05ts to be charitable activities. c) Expenditure All expenditure is accounted for on an accruals basis as a liablllty is incurred and includes VAT whlch cannot be fully recovered. Charltable activities comprises the direct Costs of the pastorate together with the costs of projert5 and activitie5 related to the propagation of the Gospel and the delivery of activttie5 and services to Its beneficiarie5. It includes both costs that can be allocated directly to such actlvlties and indirect cost necessary to support them. Other costs comprises the direct costs of the Charity that are not related to charitable activitie5 or fund generation. The trustees consider that any apportionment of indirect costs would not be material. dl Foxed Assets Fixed assets are included at cost less accumulated depreciation. Depreciation 15 provided to write off the cost or valuation. less estimated residual values of all fixed a55ets except freehold land, over their expected useful lives. It is calculated at the following rates.. Fixtures and fitting5 Computer equipment 20% on reducing balance 33% on cost el Taxatlon The charltv 15 exempt from tax on Its charltable actlvltles. Fund Accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restrirted purposes. FAITH MINISTRIES Notes to the Account5 (contlnued) for the year ended 28 February2024 2 Income and Endowment5 Unrestrlcted Funds Restricted Funds Total Funds 2024 Total Funds 2023 Donatlons and legacies 168,845 168,845 108,349 Expendlture On Other 165,324 165,324 112,374 NEf INCOME/IEXPENDITURE) 3,521 3,521 {4,025) Recondliation of fund5 Total funds brought forward 17,456 334 17,790 21,815 20,977 334 21,311 17,790 3 Tanglble Assets Fixtures and flttln85 Computer equipment Total Cost At l March 2023 Additions At 28 February 2024 7,031 2,414 9,445 2,404 1.126 3,530 9,435 3,540 12.975 Depreciation At l March 2023 Charge for year At 28 February 2024 3,693 1,151 4.844 1.490 706 2,196 5,183 1.857 7,040 Net Book Values At 28 February 2023 3,338 914 4,252 At28 February 2024 4.601 1,334 5,935 FAITH MINisfRIES Notes to the Accounts (continyed) for the year ended 28 February 2024 4 Debtors and Prepayments 2024 2023 Prepayments and accrued income 851 198 851 198 Creditor5 - falllng due wlthln one year 2024 2023 Trade credltors 915 Taxation and social security Other creditor5 3,242 900 4,142 1,978 900 3,793 2024 2023 6 Loans An analysis of the maturity of loan5 15 given below: Amounts falllng due wlthin one year on demand= Bank overdrafts io FArrH MINISTRIES Notes to the Accounts (continued) fortheyear ended 28 February 2024 Net movement in funds 7 Movement In funds At 01.03.23 At 28.02.24 Unrestrlrted funds General fund 17,456 3,521 20,977 Restrkted funds School of music Buildin8 work 334 334 334 334 17,79) 3,521 21,311 Net movement In funds, included the above are as follows.. Incomln8 resources Resources expended Movement in funds Unrestrlcted fund5 General fund 168,845 165,324 3,521 Restrlcted funds Act5 Church SA TOTAL FUNDS 168,845 165,324 3,521 Net movement in funds At 01.03.21 At 28.02.22 Comparatlves for movement In funds Unre5trkted funds General fund 21,481 14,0251 17,456 Restricted funds School of music Building work 11,1661 1,500 334 1,166 11,166) 334 334 TOTAL FUND5 21,815 (4.0251 17,790 li FAITH MINISTRIES Notes to the Accounts (contlnued) for the year ended 28 February 2024 7 Movement In funds- contlnued Comparative net movement In funds. included in the above are as follow5: Incomln8 resources Resource5 expended Movement In funds Unrestrfcted funds General fund 98.668 {102,6931 14,0251 Restrirted funds Acts Church 9,681 (9,6811 TOTAL FUNDS 108,349 {112,3741 14,0251 A current year 12 month5 and prior year 12 months combined position is as follows: Net Funds B/Fwd movement 01.03.2022 In funds Fund5 C/Fwd At 28.02.24 Unrestricted fund5 General fund 17,456 3,521 20.977 Restrlrted funds school of music Bulldlng work Acts Church SA 334 334 334 334 TOTAL FUNDS 17,790 3,521 21,311 12 FAITH MINISTRIES Notes to the Account5 (contlnued for the year ended 28 February 2024 7 Movement in funds - contlnued A current year 12 months and prior year 12 months combined net movement in fund5. included in the above are as follow5: Net Resources expended Incominz resources Movement In funds Comparatlve5 for movement In funds Unrestrlrted funds General fund 267,513 {268,017) 504 Restricted fund5 School of music Building work Acts Church SA 9,681 9,681 9.681 9.681 TOTAL FUNDS 277,194 1258,3361 504 8 Related Party DIKlosures During the year none of the trustees were paid by the organi5ation (2022 .. 1 trustee was paid £1,000) for administrative service5, Another trustee ha5 been paid via payroll for non trustee service5. 9 Tru5tees' Remuneratlon and Benefits There was no trustees remuneration or other benefits for the year ended 28 February 202412023:£nil) Tru5tees' expenses There were no trustees, expenses paid for the year ended 28 February 202412023.-£nil) 13 FAITH MINISTRIES Detailed Statement of Flnancial Artivities for the year ended 28 February 2024 2024 2023 Income and endowment5 Tithe & offering5 168,845 108.349 168,845 108.349 Expenditure Wages Pension costs Insurance Light and heat Telephone Postage and stationery Sundries Repairs Cleanlng Equipment leasing Refre5hment5 Resources Motor and travel expenses Rent and rates Computer expenses Subscriptions Donations Sponsorship Entertainment Music lessons Bible School Profe55ional fees Depreciation-Fixtures &fittings Depreciation-computer equipment 82,995 1,013 709 2,981 706 1.787 4,685 2,045 3.908 2,072 851 756 2,099 16,536 342 4,272 24,474 48,584 167 624 2,890 604 4,650 3.954 4,971 4,053 655 943 2,792 2.679 15,270 699 1.914 7,716 599 2,273 2,661 2,680 3,528 3,163 221 1,151 706 948 835 521 163,680 Finan Bank charges 111,002 744 472 744 472 Governance costs Independent Examiner'5 Fee 900 900 900 900 Total resources expended 165,324 112,374 Net incornellexpenditure) 3,521 (4,025) 14