VICTORY BIBLE CHURCH INT
The Charity Registration Number is :- 1032224
## VICTORY BIBLE CHURCH INT
Unaudited Report and Accounts
31 December 2022
## **VICTORY BIBLE CHURCH INT Report and accounts**
## **Contents**
||**Page**|
|---|---|
|**Charity information**|1|
|**Trustees' Annual Report**|3|
|**Statement of Trustees' responsibilities**|5|
|**Independent Examiner's Report**|6|
|**_Funds Statements:-_**||
|Movements in funds|8|
|Statement of Financial Activities - Prior Year statement|8|
|Revaluation reserves|10|
|Revenue Funds|10|
|Summary of funds|10|
|Income and Expenditure account|12|
|**Balance sheet**|13|
|**Notes to the accounts**|15|
**VICTORY BIBLE CHURCH INT Trustees' Annual Report for the year ended** 31 December 2022 **The Trustees present their Report and Accounts for the year ended 31 December 2022**
## **Reference and administrative details**
The charity is also known by its operating name, VICTORY BIBLE CHURCH INTERNATIONAL
_**The charity's areas of operation and UK charitable registration.**_
**The charity is registered in England & Wales with charity number 1032224**
## **Legal structure of the charity**
**----- Start of picture text -----**
The charity is constituted as an unincorporated charity, established by Trust Deed and its governing document is a Trust Deed and its formal provisions.
The Governing Document is
dated 10 September 2007
The principal operating address, telephone number and email and web addresses of the charity are:-
33-35 SPRAY STREET
WOOLWICH, LONDON
SE18 6AP
The Trustees in office on the date the report was approved were:-
Clement Amankwa Asihene
Jennifer Adofo
Obaayaa Buahin
Dimeji Abioye
**----- End of picture text -----**
**The Trustees in office during the year were:-**
**The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.**
## **Objects and activities of the charity**
_**The purposes of the charity as set out in its governing document.**_
**The charity is established for the promotion of the following -**
- **The advancement of the Christian faith;**
- **Relief of sickness and financial hardship**
- **Promotion and preservation of good health by the provision of funds, goods or services of any kind, including the provision of counselling and support in**
- **such parts of the United Kingdom and the world as the Trustees from time to time decide; • Advancement of education in such parts of the United Kingdom and the world as deemed fit by the Board of Trustees.**
_**The main activities undertaken in relation to those purposes during the year**_
**The impact of the Covid19 pandemic continued to be felt even in 2022. Everyone including institutions had to make adjustments to comply with the various rules and regulations covering public gatherings and other events. As will be seen in the subsequent paragraphs some of the charity’s programmes and activities had to be adapted to meet the needs of the times.**
**The detailed achievements of the charity are outlined under "The Main Achievements and Performance of The Charity During The Year".**
## **Our headline activities however include -**
- **A) Various Church services, seminars, events, conferences and training programmes were organised to raise the awareness and an understanding the Christian faith in the course of the year B)�The provision and maintenance of buildings for Christian Church services in 16 locations spread across Greater London and the Midlands. C) Our Bright Candidates Initiative (Saturday School), geared towards the provision of free extra-mural tuition for Primary and Secondary school students continue to be well patronised within the local communities.**
- **D) We have also teamed up with the UK group Christians Against Poverty (CAP) with the objective of running some of their poverty-alleviating courses from one of our London Branches in Lewisham**
**E) Our Pastors routinely look after the spiritual and socio-economic well-being of their congregants and new faith adherents. They also conduct Marriage and funeral ceremonies, infant dedication and baptismal services as required.**
**F) Our Evangelism Teams regularly reach out to members of their local communities with the sole aim of spreading the good news of the Salvation message of Jesus Christ**
**G) We also embarked upon socio-welfare interventions aimed at poverty alleviation and disaster relief through donations to other reputable Charitable organizations like Sans Frontiers & The Red Cross**
2
**Trustees' Annual Report for the year ended**
31 December 2022
## **VICTORY BIBLE CHURCH INT**
_**The main activities undertaken during the year to further the charity's purpose for the public benefit."**_
|**Apart from the organisation of Church services some of the other activities embarked upon by the charity specifically geared towards the general public**|
|---|
|**benefit include -**|
|**•**
**Our Bright Candidates Initiative (Saturday School), geared towards the provision of free extra-mural tuition for Primary and Secondary school student**|
|**continue to be well patronised within the local communities.**|
|**•**
**We have teamed up with the UK group Christians Against Poverty (CAP) with the objective of running some of their poverty-alleviating courses from one o**|
|**our London Branches in Lewisham**|
|**• Pre-marital & Post-marital counselling**|
|**• Bereavement Support**|
|**• Welfare Support**|
|**• Opening up of a new Well-Being Centre in our Lewisham branch to encourage the Health and Well-being of the local inhabitants**|
|**• Diverse Men and Women ministries meetings**|
|**• Marriage Enrichment seminars**|
|**• Singles Seminars**|
|**• The Revamping of our Next Generation Church (our Youth ministry) specifically targeted at ameliorating knife and gun crimes**|
|**The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.**|
**The main achievements and performance of the charity during the year**
**Various activities were undertaken during the report period geared towards the spiritual, economic and socio-cultural well-being of the church members and the communities at large. Detailed achievements during the year are – Camp Meeting This is an established annual event held during the Easter period at which various branches in the UK, Europe and Asia gather together for spiritual renewal, rejuvenation and direction. Through the seminars / sessions held during these meetings, the economic, social and other aspects of the lives of congregational members were steered in the right direction. Due to the prevailing restrictions following the Covid 19 Pandemic, Camp meeting 2022 was held virtually via Zoom, with a few in-person attendance in Woolwich and Northampton, under the theme “Multiplying and increasing in Land”. Bishop N. A. Tackie-Yarboi, the Presiding Bishop of VBCI (Worldwide) was the Guest Minister. Ministerial Council Retreat (Formerly Known as “Leaders Retreat”) Started in 2007, this annual retreat is aimed at sensitising the spiritual leadership of the church in the UK with the direction of the organisation as a whole. It also offers the opportunity to reiterate the vision and encourage the leaders to remain focussed despite the various challenges that they may encounter in their ministries. Also, the gathering is used as a networking tool for the various branches to learn best practices from one another. Those in the offices of Reverend Ministers, Pastors and Elders and their spouses were in attendance to ensure that there would be the necessary balance between ministry and family life. The theme for the 2022 Ministerial Council retreat held on the 30th January to 1st February was “Effective Discipleship”. Bishop Clement Asihene, the Sector Overseer for VBCI UK, Europe and Asia was the main facilitator and speaker. Victorious Women’s Ministry The UK women’s ministry is specifically geared towards ministering to hurting women with the sole aim of giving them hope irrespective of their situation or circumstances. It is headed by Reverend (Mrs) Asihene; assisted by other able ladies in the various branches. The 2022 conference themed "I Will Arise and Shine” had the President of the VBCI women’s ministry UK Reverend Mrs Cecelia Asihene as the main speaker. She ministered to the ladies encouraging them to go after their dreams irrespective of the challenges they encounter to be able to achieve their God-given purpose thereby impacting lives in their generation and those after them. Men in the House Conference The UK Men’s ministry was set up with the main aim of building strong, mighty and responsible men who are able to fulfil their destinies despite life’s challenges. It is presided over by Bishop Joseph Acquaye as the Victory Men’s Fellowship (VIMEF) Global Director. The 2022 Men’s Excel Conference themed “Striving for Excellence” took place on the 18th of June 2022 with Bishop Clement Asihene and Mr Albert Achamfour as guest speakers. Lay Ministers Academy**
**The Lay Ministers Academy which was established to train and equip those who are called into ministry but still maintain secular jobs in order for them to fulfil their ministry, resumed lessons following the break during the Covid 19 pandemic. Classes / training are mainly online and conducted in a life-changing, paradigm-shifting, religion free environment over a twenty-week period. Course contents include Healing and Deliverance, Church Planting and Evangelism, Devotional Life and Pastoral Ministry. It is an on-going policy of VBCI (UK) that any one holding or aspiring to a leadership position (Deacons, Elders, Pastors, etc) within the church must go through the academy in order to ensure that they properly imbibe the vision of the church. The graduation ceremony for the Class of 2021 was held on 20th August with Reverend Dr. David Antwi of the Kharis Ministries as guest minister.**
**Passion Music Academy Developments in the Branches**
**The Financial Restructure exercise embarked upon at the beginning of the 2012 continues to bear the desired results as the branches are becoming more conscious of controlling their costs and finding other creative ways to improve their incomes. Greater transparency and accountability has now been entrenched within the charity due to the standardization of all our banking operations with the HSBC bank. The majority of church services and programmes were held both online and in person in order to comply with the various social distancing restrictions that were imposed following the COVID19 pandemic. This ensured that members’ emotional, spiritual and physical well being was taken care off. It is with great pleasure that we announce, as well, that all the existing branches are thriving in spite of the challenging economic environment.**
**Next Generation Church**
**This is the Youth ministry of VBCI (UK).**
**Borne out of a realization of the need for a foundation to be laid for the next generation, the inception service was held on Saturday, the 4th of October, 2008. This ministry was re-launched on the 18th of January 2015 as Next Generation Church (NGC) by Bishop Asihene. Services are held on Sunday afternoons in order to encourage the youth to invite their “un-churched” friends to a church service where they will be among their own peers. Currently, services are held in the various VBCI branches nationwide under the leadership of able youth pastors with the supervision of the senior pastor within the branch. The annual camp for the youth is yet to resume following the pandemic however strategic programmes are organised frequently within the various branches for the youth in order to keep them engaged and connected to each other.**
3
## **VICTORY BIBLE CHURCH INT**
**Trustees' Annual Report for the year ended**
31 December 2022
## **Morning Glory**
**Envisioned by Bishop Clement Asihene and started in 2005, Morning Glory, the prayer and prophetic gathering of God’s people on the first Saturday of the month, continues to grow from strength to strength. The ministry has now become an evangelistic and power encounter arm of VBCI (UK). Attendance, now in the hundreds, has been predominantly from non VBCI (UK) members. Morning Glory is hosted by Reverend (Mrs) Asihene and Bishop Prophet Emmanuel Baidoo. Following the relaxation of the social distancing rules, this programme is currently held both in person and online via Facebook and YouTube on the first Saturday of every month.**
## **Victory Praise Night**
**2015 saw the inception of a new annual event tagged “Victory Praise Night”. It is to be a day set aside for purely Praise, thanksgiving and worship of God. This corporate event resumed in 2022 renamed “Yadah Praise Night” and was held on the 24th September with Emmanuel Smith as the guest minister. It was a remarkable event.**
## **Other Developments**
**The weekly teaching service started in 2009 continues in earnest. Aptly named “Open Bible Teaching Service”, the teachings, facilitated by Bishop Clement Asihene, are designed to help God's people to unlearn some traditions and doctrines of men, in order to replace their belief system with the Pure Gospel of Jesus Christ. New Testament Believers now have the opportunity to know and understand WHO THEY ARE IN CHRIST so they can REIGN IN LIFE as successful saints. These meetings now hold weekly online for New Life Sanctuary on Tuesdays and Oasis Sanctuary on Wednesdays.**
**2022 saw season 14 of “Impartation Night” themed “Fill Your Horn With Oil” conducted by Bishop Clement Asihene. These nights are also designed with the aim of passing on years of “ministerial experience” to the next generation. These occur on the last Sunday of the month from September to February of the following year. There has been an immense improvement in the lives of members as a consequence of these meetings.**
4
**VICTORY BIBLE CHURCH INT**
**Trustees' Annual Report for the year ended**
31 December 2022
## _**Fundraising activities during the year.**_
_**The difference the charity's performance during the year has made to the beneficiaries of the charity**_
## **The following highlights the impact of the charity’s activities on our beneficiaries –**
- ➢ **Services were held in various locations, at different times and days in the United Kingdom to ensure that the needs of the congregants and seekers were met**
- ➢ **Different events, trainings, activities are held in our local branches that ensure that we remain effectively relevant in meeting the identified needs of the congregants and seekers**
- ➢ **Our diverse annual conferences such as Camp Meeting, Men In The House Conference, Victorious Women’s Conference, You Shall Not Be Barren, etc. are all aimed at meeting the diverse, spiritual, social, economic and psychological needs of the beneficiaries**
- ➢ **Diverse welfare and benevolent interventions took place in the course of the year to ensure the total well-being of the congregants and seekers**
- ➢ **Our Lay Pastors Academy continues to be an avenue through which we train and equip those who are called into ministry but still hold on to secular jobs to help them fulfil their calling**
- ➢ **Our Passion Music Academy is still a channel through which we encourage the youths and church members to learn how to play musical instruments thereby providing an avenue for them to use their talents and gifts profitably rather than being involved in youth crime and other anti-social behaviours** ➢ **Victory Praise Night, a day set aside for congregants, seekers and members of the community at large, to express our gratitude to God in praise, worship and thanksgiving, was inaugurated in 2015.**
- ➢ **Victory Care continues to be a channel through which the educational, spiritual, health and social needs of targeted groups are met.**
## _**The degree to which the achievements and performance during the have benefited wider society**_
- **As a Christian organisation we use all available means to promote the doctrines of Christ anchored on love in reaching out to diverse people in our local**
- **communities**
- **We collaborate with other charities wherever necessary to alleviate poverty, needless suffering and disasters**
- **We embark on training schemes, in collaboration with other charities (For example Christians Against Poverty), geared towards helping people get back into employment**
- **We have strategically acquired two Defibrillators which we believe will be invaluable in resuscitating people in heart-related emergencies**
- **We contribute to the local economies through the payment of rents, business rates, contractual agreements for waste disposal and patronage of local**
- **services in our areas of operation**
- **Through our Bright Candidates Initiative, our free extra-mural classes, we continue to help young people remain in education and ultimately focused on**
- **becoming responsible citizens in the future rather than being attracted to and involved in social vices**
- **We encourage our congregants to hold their civic responsibilities such as voting in elections, community and jury services dear**
- **Over the years we have continued to imbibe in people the importance of Home Ownership thereby ultimately reducing the pressure on social housing**
- **Our youth church, the Next Generation Church, has been instrumental in diverting the attention of the youths away from gun and knife crimes and other antisocial behaviour by channelling the youth’s energy into gainful endeavours**
- **We periodically collaborate with local Homeless peoples’ charities to alleviate the sufferings of those at risk**
## **Financial review**
_**The charity's financial position at the end of the year ended 31 December 2022**_
**The financial position of the charity at 31 December 2022 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-**
|**2022**
**_£_**
Donations & Legacies
1,912,450
Total expenditure
(1,640,736)
271,714
2,190,459
Endowment Revenue Funds
402,458
**_Total Endowment funds_**
**402,458**
**Total Funds**
**2,592,917**
**_Financial review of the position at the reporting date,_**
Unrestricted Revenue Funds available
for the general purposes of the charity
**Net Income**|**2021**
**£**
1,622,417|
|---|---|
||(1,194,974)|
||427,443|
||1,918,745
402,458|
||**402,458**|
|||
||**2,321,203**|
||**_31 December 2022_**|
**Total income for 2022 was £1,912,450 with a total expenditure of £1,640,736. Compared to 2021 with £1,622,417 in total income and £1,194,974 in expenditure. Compared to 2021 in which there was a surplus of £427,443, 2022 had a net improvement of £271,714. The tight budgetary control exercised by the Board of Trustees and the Finance Team with regards to the on-going judicious usage of the charity's increased income and the emphasis on increased efficiency are the main reasons for the turnaround in the charity's finances.**
**It is the intention of the Board of Trustees to continue implementing the "Financial Restructure" program to further ensure "Effectiveness, Efficiency, Economic viability and Equity" and greater corporate ownership in 2023. The Board of Trustees and the Finance Team are satisfied with the current state of the Charity's finances**
5
## **VICTORY BIBLE CHURCH INT**
**Trustees' Annual Report for the year ended**
31 December 2022
## _**Policies on reserves.**_
**The charity acquired and registered the property now known as “Sanctuary Centre” in April 2008. The building has now become established as a landmark in the Woolwich area and is also a melting pot where people from various walks of life can receive Godly assistance and guidance. Oasis Sanctuary, one of the church’s branches, has the privilege of meeting in the premises on an on-going basis.**
**We intend to hold cash reserves equivalent to three months running costs of the organisation and build up the reserves as the finances of the charity improves. We aim to create a designated fixed assets fund to highlight the reserves invested in the tangible assets we use in carrying out our activities. The designated amount will be equivalent to the total net book value of fixed assets less any fixed assets held in restricted funds.**
**As the finances of the charity improve, it is our intention to revisit short-term investments in the form of fixed deposit accounts. Property acquisition, where we know that the rental and other associated costs can be easily covered, continued to be emphasized, in 2022. In pursuit of this, we acquired another property in the Northampton area in 2022. This brings the total number of our Freehold properties to 4.**
**We will pro-actively assess the above in order to ensure that we minimise the charity’s risk exposure whilst maximising returns.**
## _**Availability and adequacy of assets of each of the funds**_
**The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund**
**The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), . The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to**
- to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). - select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
- state whether applicable accounting standards and statements of recommended practice have been followed , subject to any material departures disclosed and explained in the financial statements;
**The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.**
**The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.**
**The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.**
**This report was approved by the Board of Trustees on 28 October 2023.**
## **MRS JENNIFER ADOFO**
Secretary to the Board of Trustees
6
## **VICTORY BIBLE CHURCH INT**
## **Unaudited Report to the Trustees of the charity on the accounts for the year ended 31 December 2022**
## **Respective responsibilities of the Trustees and the Auditor and the basis of the report**
As described on page 9, you, the charity's Trustees, are responsible for the preparation of the financial statements in
accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practiceand for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply,
and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
The financial statements are required to be audited under any legal provision, or
otherwise, and - a) examine the financial statements of the charity under Section 145 of the Act; b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Basis of the unauditored Statement and scope of work undertaken**
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
The gross income of the charity in the year ended 31 December 2022 appears to exceed the sum specified in Section
145(3) of the Act, namely £250000, and that I am qualified to act as Independent Examiner in accordance with that section by virtue of my being a qualified member of Chartered Accountants; The accounts are being examined in the circumstances specified in Regulation 34(3)(b, and the date when the Charity
Commission dispensed with the requirements for audit under Section Section 144(1) of the Charities Act 2011 (the Act) of the Act was :- 01 January 2017
This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given
by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe
that in any material respect:-
accounting records were not kept in respect of the charity as required by with Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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; have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP).
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 financial statements to be reached.
This report was signed on 31 October 2023
17
## **VICTORY BIBLE CHURCH INT**
## **Statement of Financial Activities for the year ended 31 December 2022**
|**Current year**
**Unrestricted**
**Funds**
**2022.00**
**£**
**Income & Endowments**
Donations & Legacies
A1
1,912,450
**Expenditure**
Expenditure on charitable activi B2
1,640,736
**Total expenditure**
**B**
**1,640,736**
**Net income for the Year**
**A-B**
**271,714**
**Transfers between funds**
C
**Net income after transfers**
**A-B-C**
**271,714**
**271,714**
**Reconciliation of funds:-**
**E**
**Total funds brought forward**
**1,918,745**
**Total funds carried forward**
**2,190,459**
**SO**
**RP**
**Re**
**f**
**Net movement in funds**|**Current year**
**Unrestricted**
**Funds**
**2022.00**
**£**
**Income & Endowments**
Donations & Legacies
A1
1,912,450
**Expenditure**
Expenditure on charitable activi B2
1,640,736
**Total expenditure**
**B**
**1,640,736**
**Net income for the Year**
**A-B**
**271,714**
**Transfers between funds**
C
**Net income after transfers**
**A-B-C**
**271,714**
**271,714**
**Reconciliation of funds:-**
**E**
**Total funds brought forward**
**1,918,745**
**Total funds carried forward**
**2,190,459**
**SO**
**RP**
**Re**
**f**
**Net movement in funds**|**Current year**
**Current year**
**Current year**
**Prior Year**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total Funds**
**Total Funds**
**2022**
**2022**
**2022**
**2021**
**£**
**£**
**£**
**£**
-
-
**1,912,450**
**1,622,417**
-
-
**1,640,736**
**1,194,974**|
|---|---|---|
||**1,640,736**|**-**
**-**
**1,640,736**
**1,194,974**|
|||**-**
**-**
**271,714**
**427,443**|
|||**-**
**-**
**271,714**
**427,443**|
||**271,714**
**1,918,745**|**-**
**-**
**271,714**
**427,443**
**-**
**402,458**
**2,321,203**
**2,251,213**|
||**2,190,459**|**-**
**402,458**
**2,592,917**
**2,678,656**|
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
**All activities derive from continuing operations**
**The notes attached on pages 20 to 22 form an integral part of these accounts.**
18
## **VICTORY BIBLE CHURCH INT**
## **Analysis of prior year total funds, as required by paragraph 4.2 of the SORP**
|**Prior Year**
**Prior Year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2021**
**2021**
**£**
**£**
**Income & Endowments**
Donations & Legacies
A1
1,622,417 0
-
-
**Total income**
**A**
**1,622,417**
**-**
**Expenditure**
-
Expenditure on charitable activi B2
1,194,974
-
**Total expenditure**
**B**
**1,194,974**
**-**
**Net Income for the Year**
**A-B**
**427,443**
**-**
**Transfers between funds**
C
**-**
**-**
**Net income after transfers**
**427,443**
**-**
**427,443**
**-**
**Reconciliation of funds:-**
**E**
**Total funds brought forward**
**1,491,302**
**-**
**Total funds carried forward**
**1,918,745**
**-**
**SO**
**RP**
**Re**
**f**
**Net movement in funds**|**Prior Year**
**Endowment**
**Funds**
**2021**
**£**
-
**-**
-
**-**
**-**
**-**
**-**
**-**
**402,458**
**402,458**|**Prior Year**
**Total Funds**
**2021**
**£**
**1,622,417**
**1,622,417**
**1,194,974**
**1,194,974**
**427,443**
**-**
**427,443**
**427,443**
**1,893,760**|
|---|---|---|
|||**2,321,203**|
**All activities derive from continuing operations**
19
## **VICTORY BIBLE CHURCH INT**
## **Resources applied in the year ended 31 December 2021 towards fixed assets for Charity use:-**
|Funds generated in the year as detailed in the SOFA
Resources applied on functional fixed assets
**Net resources available to fund charitable activities**|**2022**
**£**
**271,714**
**(687,502)**
**(415,788)**|**2021**
**£**
**427,443**
**(29,877)**|
|---|---|---|
|||**397,566**|
The resources applied on fixed assets for charity use represents the cost of additions less proceeds of any disposals.
## **The notes attached on pages 20 to 22 form an integral part of these accounts.**
## **Movements in revenue and capital funds for the year ended 31 December 2022**
## **Revenue accumulated funds**
|**Unrestricted**
**Restricted**
**Funds**
**Funds**
**2022**
**2022**
**£**
**£**
Accumulated funds brought forw
1,918,745
-
Recognised gains and losses b
271,714
-
2,190,459
-
**Closing revenue funds**
2,190,459
-
**Summary of funds**
**Unrestricted**
**Restricted**
**and**
**Funds**
**Designated funds**
**2022**
**2022**
**£**
**£**
Revenue accumulated funds
2,190,459
-|**Endowment**
**Funds**
**2022**
**£**
402,458
-
402,458
402,458
**Endowment**
**Funds**
**2022**
**£**
402,458|**Total**
**Funds**
**2022**
**£**
2,321,203
271,714
2,592,917
2,592,917
**Total**
**Funds**
**2022**
**£**
2,592,917|**Last year**
**Total Funds**
**2021**
**£**
1,893,760
427,443|
|---|---|---|---|
||||2,321,203|
||||2,321,203|
||||**Last Year**
**Total Funds**
**2021**
**£**
2,321,203|
**The notes attached on pages 20 to 22 form an integral part of these accounts.**
20
VICTORY BIBLE CHURCH INT
21
## **VICTORY BIBLE CHURCH INT**
**Income and Expenditure Account for the year ended 31 December 2022 as required by the Companies Act 2006**
|**Income**
Income from operations
**Gross income in the before exceptional items**
**Gross income in the including exceptional items**
**Expenditure**
Charitable expenditure, excluding depreciation and amortisation
Depreciation and amortisation
Governance costs
Realised losses on disposals of social investments which are programme related
**Total expenditure in the**
Tax on activity
**The**
**All activities derive from continuing operations**
**Net Income after tax**
**Net Income for the year**|**2022**
**£**
1,912,450
**1,912,450**
**1,912,450**
1,504,814
125,421
10,500
-
**1,640,736**
271,714
-
**271,714**
**271,714**|**2021**
**£**
1,622,417|
|---|---|---|
|||**1,622,417**|
|||**1,622,417**|
|||1,128,496
55,977
10,500
-|
|||**1,194,974**|
|||427,443
-|
|||**427,443**|
|||**427,443**|
||||
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
## **The notes attached on pages 20 to 22 form an integral part of these accounts.**
22
## **VICTORY BIBLE CHURCH INT - Balance Sheet as at 31 December 2022**
||**Notes **|**SOR**|||||
|---|---|---|---|---|---|---|
|||**P Ref**||**2022**||**2021**|
|||||**£**||**£**|
|**Fixed assets**||A|||||
|Tangible assets|3|A2||4,975,723||4,413,642|
|**Current assets**||B|||||
|Debtors|4|B2|-||218,000||
|Cash at bank and in hand||B4|481,974||284,129||
||||481,974||502,129||
|Creditors: amounts falling due|||||||
|within one year|5|C1|(33,882)||(19,220)||
|**Net Current Asset**||||448,091||482,909|
|**Total asset less current**|||||||
|**Liabilities**||||**5,423,814**||**4,896,551**|
|Creditors: amounts falling due|||||||
|after more than one year|6|C2||(2,830,897)||(2,575,348)|
|**Total Net asset of charity**||||**2,592,917**||**2,321,203**|
|**Total Assets funded by:**|||||||
|**Endowment funds**|||||||
|Endowment Revenue Funds|9|D1||402,458||402,458|
|**Restricted funds**|||||||
|**Unrestricted Funds**|||||||
|Unrestricted Revenue Funds|9|D3||2,190,459||1,918,745|
|**Designated Funds**||||**2,592,917**||**2,321,203**|
||||-|**-**|0||
23
## **VICTORY BIBLE CHURCH INT - Balance Sheet as at 31 December 2022**
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the examiner is on page 13.
The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to compa
## MR DIMEJI ABIOYE
Treasurer of The Board of Trustees Approved by the board of trustees on 31 October 2023
## **The notes attached on pages 20 to 22 form an integral part of these accounts.**
24
## **VICTORY BIBLE CHURCH INT**
**Notes to the Accounts for the year ended** 31 December 2022
## **1 Accounting policies**
## **Policies relating to the production of the accounts.**
## _**Basis of preparation and accounting convention**_
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
## _**Risks and future assumptions**_
The charity is a public benefit entity.
## **Policies relating to categories of income and income recognition.**
## _**Nature of income**_
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
## _**Categories of Income**_
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitled is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value of the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.
25
## **VICTORY BIBLE CHURCH INT**
## **Notes to the Accounts for the year ended** 31 December 2022
## _**Income recognition**_
Income is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
## **Policies relating to expenditure on goods and services provided to the charity.**
## _**Recognition of liabilities and expenditure**_
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
## _**Volunteers**_
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.
However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers
26
## **VICTORY BIBLE CHURCH INT**
## **Notes to the Accounts for the year ended** 31 December 2022
## **Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. 2 Liability Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal or as implied by law.
Endowment funds are funds donated to the charity, where the funds shall be invested and the charity shall enjoy the benefit of the income from the capital fund, but where restrictions are placed The charity operates a defined benefit pension scheme. Contributions are charged to the profit and loss account and liabilities are accounted for in accordance with the principles set out in module 17 of the SORP.
## **Pensions - defined contribution schemes**
The charity operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.The charity operates a defined benefit pension scheme. Contributions are charged to the profit and
loss account and liabilities are accounted for in accordance with the principles set out in module 17 of the SORP.
## **Policies relating to assets, liabilities and provisions and other matters.**
## _**Tangible fixed assets**_
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.
Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.
Land and Building Straight line over 100 years Plant and machinery 20 % straight line Motor vehicles 25 % straight line Furniture and Fittings 20 % straight line
## _**Debtors**_
Debtors are measured at their recoverable amounts at the balance sheet date.
## _**Cash and bank balances**_
Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.
27
## **VICTORY BIBLE CHURCH INT**
## **Notes to the Accounts for the year ended** 31 December 2022
## **2 Staff costs and emoluments**
|**_Salary costs_**
Gross Salaries
Employer's contribution to defined benefit pension schemes
**Total salaries, wages and related costs**
**_Numbers of full time employees or full time equivalents_**
The average number of total staff employed in the year was|**2022**
**£**
414,017
31,060|**2021**
**£**
358,875
29,314|
|---|---|---|
||**445,077**|**388,189**|
||**2022**
**25**|**2021**
**25**|
No employees received emoluments (excluding pension costs) in excess of £60,000 per annum.
## **3 Tangible fixed assets**
|**Cost**
At 1 January 2022
Additions
Disposals
**At 31 December 2022**
**Depreciation**
At 1 January 2022
Charge for the Year
On disposals
**At 31 December 2022**
**Net book value**
At 31 December 2022
At 31 December 2021|**Land and**
**Buildings**
**£**
4,597,414
641,775
-|**Plant &**
**Equipment**
**Motor**
**Vehicles**
**Furniture &**
**Fittings**
**£**
**£**
**£**
294,613
12,477 0
-
32,845
12,883
-
-|**Plant &**
**Equipment**
**Motor**
**Vehicles**
**Furniture &**
**Fittings**
**£**
**£**
**£**
294,613
12,477 0
-
32,845
12,883
-
-|**Total**
**£**
**4,904,504**
**687,502**
**-**|
|---|---|---|---|---|
||**5,239,189**|**327,458**
**12,477**|**12,883**|**5,592,007**|
||227,994
103,295
-|250,392
12,477
20,283
-
-
-|**-**
**1,843**
**-**|**490,862**
**125,421**
**-**|
||**331,289**|**270,675**
**12,477**|**1,843**|**616,284**|
||4,907,900|56,783
-|11,040|**4,975,723**|
||**4,369,420**|**44,222**
**-**|**-**|**4,413,642**|
## **4 Debtors**
Prepayments and accrued income Other debtors
|**2022**
**£**
-|**2021**
**£**
218,000|
|---|---|
|**-**|**218,000**|
28
## **VICTORY BIBLE CHURCH INT**
## **Notes to the Accounts for the year ended** 31 December 2022
|**5**
**Creditors: amounts falling due within one year**
Accruals
PAYE, NIC VAT and other taxes
**6**
**Creditors: amounts falling due after one year**
Mortgage
**7**
**Income and Expenditure account summary**
**At 1 January 2022**
Prior year adjustments
At 1 January 2022
Net income for the year
**At 31 December 2022**
**8**
**Particulars of how particular funds are represented by assets and liabilities**
**At 31 December 2022**
**Unrestricted**
**Designated**
**Endowment**
**funds**
**funds**
**funds**
**£**
**£**
**£**
Tangible Fixed Assets
4,975,723
Investments at valuation:-
Current Assets
79,516
-
402,458
Current Liabilities
(33,882)
-
-
Long Term Liabilities
(2,830,897)
-
-
**2,190,459**
**-**
**402,458**
**At 1 January 2022**
**Unrestricted**
**Designated**
**Endowment**
**funds**
**funds**
**funds**
**£**
**£**
**£**
Tangible Fixed Assets
4,413,642
Investments at valuation:-
Current Assets
99,671
402,458
Current Liabilities
(19,220)
-
Long Term Liabilities
(2,575,348)
-
**1,918,745**
**-**
**402,458**|**5**
**Creditors: amounts falling due within one year**
Accruals
PAYE, NIC VAT and other taxes
**6**
**Creditors: amounts falling due after one year**
Mortgage
**7**
**Income and Expenditure account summary**
**At 1 January 2022**
Prior year adjustments
At 1 January 2022
Net income for the year
**At 31 December 2022**
**8**
**Particulars of how particular funds are represented by assets and liabilities**
**At 31 December 2022**
**Unrestricted**
**Designated**
**Endowment**
**funds**
**funds**
**funds**
**£**
**£**
**£**
Tangible Fixed Assets
4,975,723
Investments at valuation:-
Current Assets
79,516
-
402,458
Current Liabilities
(33,882)
-
-
Long Term Liabilities
(2,830,897)
-
-
**2,190,459**
**-**
**402,458**
**At 1 January 2022**
**Unrestricted**
**Designated**
**Endowment**
**funds**
**funds**
**funds**
**£**
**£**
**£**
Tangible Fixed Assets
4,413,642
Investments at valuation:-
Current Assets
99,671
402,458
Current Liabilities
(19,220)
-
Long Term Liabilities
(2,575,348)
-
**1,918,745**
**-**
**402,458**|**5**
**Creditors: amounts falling due within one year**
Accruals
PAYE, NIC VAT and other taxes
**6**
**Creditors: amounts falling due after one year**
Mortgage
**7**
**Income and Expenditure account summary**
**At 1 January 2022**
Prior year adjustments
At 1 January 2022
Net income for the year
**At 31 December 2022**
**8**
**Particulars of how particular funds are represented by assets and liabilities**
**At 31 December 2022**
**Unrestricted**
**Designated**
**Endowment**
**funds**
**funds**
**funds**
**£**
**£**
**£**
Tangible Fixed Assets
4,975,723
Investments at valuation:-
Current Assets
79,516
-
402,458
Current Liabilities
(33,882)
-
-
Long Term Liabilities
(2,830,897)
-
-
**2,190,459**
**-**
**402,458**
**At 1 January 2022**
**Unrestricted**
**Designated**
**Endowment**
**funds**
**funds**
**funds**
**£**
**£**
**£**
Tangible Fixed Assets
4,413,642
Investments at valuation:-
Current Assets
99,671
402,458
Current Liabilities
(19,220)
-
Long Term Liabilities
(2,575,348)
-
**1,918,745**
**-**
**402,458**|-|-|
|---|---|---|---|---|
||||**2022**
**£**
24,336
9,546|**2021**
**£**
10,500
8,720|
||||**33,882**|**19,220**|
||||**2022**
**£**
2,830,897|**2021**
**£**
2,575,348|
||||**2022**
**£**|**2021**
**£**|
||||-
271,714|-
375,337|
||||**271,714**|**375,337**|
||||**Restricted**
**funds**
**£**|**Total**
**Funds**
**£**
**4,975,723**
**481,974**
**(33,882)**
**(2,830,897)**|
||**2,190,459**|**-**
**402,458**|**-**|**2,592,917**|
||**Unrestricted**
**funds**
**£**
4,413,642
99,671
(19,220)
(2,575,348)|**Designated**
**Endowment**
**funds**
**funds**
**£**
**£**
402,458
-
-|**Restricted**
**funds**
**£**|**Total**
**Funds**
**£**
**4,413,642**
**502,129**
**(19,220)**
**(2,575,348)**|
||**1,918,745**|**-**
**402,458**|**-**|**2,321,203**|
29
## **VICTORY BIBLE CHURCH INT**
## **Notes to the Accounts for the year ended** 31 December 2022
## **9 Change in total funds over the as shown in Note "&Note_Funds&" , analysed by individual funds**
|**_Unrestricted and designated funds:-_**
Unrestricted revenue funds
**Total unrestricted and designated funds**
**_Endowment funds:-_**
|**_See Note 10_**
**£**
**£**
1,918,745
271,714
**Movement in**
**funds in 2022**
**Funds brought**
**forward from 2021**|**£**
**Transfers**
**between funds**
**in 2022**|**£**
**2,190,459**
**Funds carried**
**forward to 2022**|
|---|---|---|---|
||**1,918,745**
**271,714**|**-**|**2,190,459**|
||**402,458**||**402,458**|
|_Revenue Endowment Funds -_
_balance still to be analysed in_
(402,458)||||
|
**Total endowment funds**
**Total charity funds**||||
||**402,458**
**-**|**-**|**402,458**|
|||||
||**2,321,203**
**-**|**-**|**2,592,917**|
## **10 Analysis of movements in funds over the yearas shown in Note "&Note_Individual.funds**
|**_Unrestricted and designated funds:-_**
Unrestricted revenue funds
**_Endowment funds:-_**|**Income**
**Expenditure**
**2022**
**2022**
**£**
**£**
1,912,450
(1,640,736)|**Other**
**Gains &**
**Losses**
**2022**
**£**
-|**Movement**
**in funds**
**2022**
**£**
**271,714**|
|---|---|---|---|
||**1,912,450**
**(1,640,736)**|**-**|**271,714**|
30
## **VICTORY BIBLE CHURCH INT**
**Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015 as amended**
## _**This analysis is classsified by conventional nominal descriptions and not by activity.**_
|**11 Donations**
**Current year**
**Current year**
**Current year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Endowment**
**Funds**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**Donations and gifts from individuals**
Small donations
1,912,450
**1,912,450**
**Total Donations**
**A1**
**1,912,450**
**12 Expenditure on charitable activities - Direct spending**
**_Small donations_**|**Current year**
**Unrestricted**
**Funds**
**2022**
**£**
1,912,450|**Current year**
**Current year**
**Restricted**
**Funds**
**Endowment**
**Funds**
**2022**
**2022**
**£**
**£**|**Current year**
**Total Funds**
**2022**
**£**
**1,912,450**|**Prior Year**
**Total Funds**
**2021**
**£**
1,622,417|
|---|---|---|---|---|
||**1,912,450**||**1,912,450**|**1,622,417**|
||||||
||**1,912,450**||**1,912,450**|**1,622,417**|
||||||
|**Current year**
**Unrestricted**
**Funds**
**2022**
**£**
Gross wages and salaries -
charitable activities
326,202
Employers' NI - Charitable
87,815
Defined benefit pension costs -
charitable activities
31,060
Travel and Subsistence -
Charitable Activities
12,147
Donation , Support and
Benevolence
112,417
6,757
Services and Church Expenses
389,703
Training and Seminar
20,156
Missions and Global Outreach
83,502
**_Total direct spending_**
**B2a**
**1,069,759**
Life Insurance|**Current year**
**Unrestricted**
**Funds**
**2022**
**£**
326,202
87,815
31,060
12,147
112,417
6,757
389,703
20,156
83,502|**Current year**
**Current year**
**Current year**
**Prior Year**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total Funds**
**Total Funds**
**2022**
**2022**
**2022**
**2021**
**£**
**£**
**£**
**£**
**326,202**
358,875
**87,815**
-
**31,060**
29,314
**12,147**
8,995
**112,417**
191,661
**6,757**
-
**389,703**
277,633
**20,156**
12,175
**83,502**
18,612|
|---|---|---|
|||**1,069,759**
**897,265**|
31
## **VICTORY BIBLE CHURCH INT**
## **Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015 as amended**
## **13 Support costs for charitable activities**
|**13**
**Support costs for charitable activit**|**ies**|**ies**|
|---|---|---|
|**_Premises Expenses_**
Rent payable under operating
Room Hire
Light heat and power
Cleaning ,Water, Rate and waste
Premises repairs, renewals and
Mortgage interest Payment
**_Administrative overheads_**
Telephone, fax and internet
Postage
Hire of equipment and Repairs
Health and safety costs
Advertising and marketing
Liabilty and contents insurance
Printing, publications and Books
Insurance
Office expenses
Administrative Expenses
**_Professional fees paid to advisors_**
**_Financial costs_**
Bank charges
**Support costs before reallocation**
**Total support costs**
Property,Public Liabilty and contents
Equipment,repairs,expenses and
Sundry expenses
Other legal and professional
Mortgage Fees
Depreciation & Amortisation in total|**Current year**
**Current year**
**Current year**
**Current year**
**Prior Year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total Funds**
**Total Funds**
**2022**
**2022**
**2022**
**2022**
**2021**
**£**
**£**
**£**
**£**
**£**
21,653
**21,653**
15,753
118,124
**118,124**
46,471
27,597
**27,597**
11,393
15,973
**15,973**
6,085
22,466
**22,466**
26,323
111,636
**111,636**
46,511
3,653
**3,653**
-
11,592
**11,592**
7,913
**-**
-
**-**
-
5,854
**5,854**
-
**-**
656
-
**-**
-
**-**
-
13,912
**13,912**
1,724
**-**
-
**-**
-
**-**
-
1,563
**1,563**
27,104
**_other than the auditor or examiner_**
73,958
**73,958**
40,550
3,805
**3,805**
749
3,270
**3,270**
125,421
**125,421**
55,977||
||**560,477**|**556,824**
**287,209**|
||**560,477**|**556,824**
**287,209**|
The basis of allocation of costs between activities is described under accounting policies
## **14 Other Expenditure - Governance costs**
|**Current year**
**Unrestricted**
**Funds**
**2022**
**£**
Independent Examiner's fees
**10,500**
**Total Governance costs**
**10,500**
**15 Total Charitable expenditure**
**Current year**
**Unrestricted**
**Funds**
**2022**
**£**
Total direct spending
**B2a**
**1,069,759**
Total support costs
**B2d**
**560,477**
Total Governance costs
**B2e**
**10,500**|**Current year**
**Unrestricted**
**Funds**
**2022**
**£**
**10,500**|**Current year**
**Current year**
**Current year**
**Prior Year**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total Funds**
**Total Funds**
**2022**
**2022**
**2022**
**2021**
**£**
**£**
**£**
**£**
**10,500**
**10,500**|
|---|---|---|
||**10,500**|**10,500**
**10,500**|
|||**Current year**
**Current year**
**Current year**
**Prior Year**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total Funds**
**Total Funds**
**2022**
**2022**
**2022**
**2021**
**£**
**£**
**£**
**£**
**1,069,759**
**897,265**
**556,824**
**287,209**
**10,500**
**10,500**|
32
## **VICTORY BIBLE CHURCH INT**
**Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015 as amended**
**Total charitable expenditure B2 1,640,736 1,637,083 1,194,974**
33
**VICTORY BIBLE CHURCH INT**
**Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015 as amended**
34