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2023-12-31-accounts

WORLD HARVEST CHRISTIAN CENTRE

Financial Accounts Directors and Trustees Report 31[st] December 2023

Charity No. 1048925

WORLD HARVEST CHRISTIAN CENTRE STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2023

ADDRESS

WHCC

Cobden Road London SE25 5NX

REGISTERED CHARITY NUMBER 1048925

TRUSTEES

Deaconess Damaris James Pastor Adegboyega Carew Brother Oluwasegun Akinola Olaniregun Minister Edward Olabode

PASTOR AND MINISTER-IN-CHARGE

Rev Wale Babatunde

BANKERS

HSBC Bank The Royal Bank of Scotland Plc 47 Rye Lane 62/63 Threadneedle Street London London SE5 8RP EC2R 8LA

ACCOUNTANTS

Dr .O Olasode BSc MSc MBA AIPSM FCCA PhD Chartered Certified Accountant 1 Copers Cope Road Beckenham London BR3 1NB

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WORLD HARVEST CHRISTIAN CENTRE STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2023

TRUSTEES’ REPORT 2023

Status and Administration

The Charity is constituted and registered with the Charity Commission under charity number 1048925.

The trustees confirm that the annual report and financial statements comply with the current statutory requirements, the requirements of the governing document and the provisions of the Financial Reporting Standards and applicable accounting standards.

Charitable Objects

The objects are:

Trustees serve for a year period and may be re-elected. The trustees meet regularly during the year including week-end meeting to review the strategy and performance and to set the operating plans and budgets.

Financial Activities and Results

The total incoming resources for the year amounted to £95,976 (2022 year 91,132) leading to a total funds carried forward of £ 1,199,477as at 31st December 2023.

Investment Powers, Policy and Performance

The memorandum and articles of association, which states clear guidelines on investments policy, governs the directors’ and trustees’ investments powers.

Reserves

The trustees have forecast the level of free reserves (that is those funds not tied up in fixed assets and designated as restricted

funds) that the charity will require to sustain its operations over the period when it is anticipated that some of the income generating activities will be further funded to gather more income.

Volunteers

The Charity is grateful for the unstinting effort of its volunteers who are involved in service provision. Members are given the free will, without any form of coercion, to determine their form and level of support, manually or financially to the charity.

Grant Making Policy

1) The Organisation works in the UK continues in the following places -LONDON, MANCHESTER, SOUTHEND ON SEA. Apart from the above, the same period outreaches were conducted in different parts of the UK, sometimes in collaboration with other Charities and individuals.

2) MISSION TO ABUJA WAS PERHAPS OUR MOST STRATEGIC WORK. WE ESTABLISHED A CHURCH. WE HAD REGULAR RADIO AND TELEVISION PROGRAMMES AND INTERVIEWS. WE HAD SEVERAL NATIONAL TRANSFORMATION PROGRAMMES AND LEADERSHIP DEVELOPMENT INITIATIVES.

The Organisation was regularly distributing materials including ESSENTIALS CLOTHING AND FINANCIAL EMPOWERMENT TO INDIVIDUALS. With the help of one of our Trustees and 805 Restaurant in Abuja, we fed the less privileged every week.

The organisation continues to support the Education in Liberia and as at today, we have a Landed Property which is being shared by the Church and the School.

The following arms of the Ministry in the UK also carried out some activities as stated below:

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WORLD HARVEST CHRISTIAN CENTRE STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2023

MANCHESTER BRANCH

We also run a back-to-work Scheme as an Empowerment Programme in Manchester.

On daily basis we run coffee Morning activities in our Manchester Branch. Part of our obligations is the visiting of Elderly Homes.

Some Communities activities that Manchester Branch engaged with were as follows:

1) Marriage enrichment programme and Marriage discipleship Programme with bible-based outline aimed at strengthen and restoration marriages

Programme helped unemployed people back to work, by helping them with their CVs, job search and basic computer skills.

3). Youth Club - we operated a local youth recreation centre. Where we provided table tennis and badminton games.

Saturday School (Supplementary School for 11 plus preparation classes and Mathematics and Science classes for High School Students.

SOUTH NORWOOD BRANCH :

Ø Food bank on a fortnightly basis every month (Every Two weeks). Feeding on average 110 clients every month. This is a service provided not only for members within the 5-mile radius of the church, we also support other ministries by apportioning them some of our produce to give to those within their community within the SE1 5QH vicinity, an area that is outside of the 5mile radius of our branch

Ø Pastoral service to those within the community who are not members of the church. Duties such as counselling, burial services, etc.

Ø Providing items of clothing to the Abuja branch in Nigeria for distribution to Internally Displaced People (IDPs)

Ø During the summer of 2023, we had a week of summer school, whereby we provided summer schooling for members with the community and provided lunch for them.

Ø Financial sponsorship for a child in Abuja to attend school.

SOUTHEND BRANCH

The arm of the Ministry also did their regular mid-week and Sunday services which were online and few online outreach programmes were observed in order to keep the faith.

Duties

Some of the strategies adopted to meet our objectives include:

21st March 2024 Approved by the directors on …………………………………. and signed on its behalf by:

Oluwasegun Akinola Olaniregun Name of Person ----------------------------------------------------- BRoricegurs Trustee Director -------------------------------------------------------

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WORLD HARVEST CHRISTIAN CENTRE STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2023

ACCOUNTANTS’ AND INDEPENDENT EXAMINER’S REPORT

I report on the accounts of the charity for the period ended 31 December 2023 as are set out on pages 6 to 14.

Responsibilities and basis of report

As the charity's trustees, 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 examination 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 Directions given by the Charity Commission under section 145(5)(b) of the Act

Independent examiner’s statement

I am qualified to undertake the examination by being a qualified member of the Chartered Association of Certified Accountants (ACCA) and Fellow of the Association (FCCA).

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:

• the accounts did 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.

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.

Dr Olu Olasode FCCA Chartered Certified Accountant TL First Accountants Limited TL First Limited

Date:

Date

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WORLD HARVEST CHRISTIAN CENTRE STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2023

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

Incoming Resources
Incoming Resources from
Generated Funds
Voluntary Income
Interest income
Other incoming resources
Total Incoming Resource
Resources Expended
Charitable activities
Governance costs
Total Resources Expended
Net Incoming/(Outgoing)
Resources
Net Movements for the Year
Total Funds Brought Forward
Total Funds Carried Forward		 2023
2023
2023
2022
Restricted
Unrestricted
Total
Total
-
86,616
86,616
83,430
-
10
10
2
-
9,350
9,350
7,700
95,976
95,976
91,132
-
39,633
39,633
37,787
-
96,556
96,556
66,558
-
136,189
136,189
104,345
-
-40,213
-40,213
-13,213
-40,213
-40,213
-13,213
925,302
296,154
1,221,456
1,234,669
925,302
255,941
1,181,243
1,221,456

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WORLD HARVEST CHRISTIAN CENTRE STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2023

CONSOLIDATED BALANCE SHEET
2023 2023 2022 2022
£ £ £ £
Fixed Assets
Tangible Fixed Assets (Note 2) 386,356 392,610
CURRENT ASSETS
Other Debtors (Note 5) 902,905 908,455
Cash & Bank 9,362 9,620
912,267 918,075
CREDITORS- Within one year (Note 3) (43,000) (3,968)
NET CURRENT ASSETS 869,267 914,407
CREDITORS- Due after one year (Note 4) (56,146) (85,560)
NET ASSETS 1,199,477 1,221,456
FINANCED BY
Restricted Funds 925,302 925,302
Adjustment for Bank balance and Creditors 18,234
Unrestricted Funds 255,941 296,154
1,199,477 1,221,456

21st March 2024 Approved by the Board of Trustees on ………………………………………. and signed on their behalf. Rowiregurs Oluwasegun Akinola OIaniregun Trustee ----------------------------------------------------For: Chairperson

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WORLD HARVEST CHRISTIAN CENTRE STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2023

1. ACCOUNTING POLICIES

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

(A) Accounting Convention & Compliance These accounts have been drawn up on the basis of a going concern and the financial statements prepared under the historical cost convention in accordance with applicable Standards, Financial Reporting Standards and the Charities Acts 1992 & 1993. The statements comply with best practice and reflect the requirements of the revised Statement of Recommended Practice, Accounting and Reporting by Charities (SORP 2015)

(B) Recognition of Income and Expenditure Income and Expenditure are recognised on an accrual basis. Donations and legacies are accounted for as received and accrued only when a value can be established before payment is received. Resources expended for both charitable activities and governance costs are apportioned 85% to charitable activities and 15% to governance costs. General Fund Revenue grants and other income and expenditure associated with the general operations of the charity and its international projects are dealt with in the General Fund. Restricted Fund These comprise donations, legacies or other income, the use of which has been specified by the donor. There is currently no restricted fund. Endowment Fund There is currently no endowment fund. (C) Depreciation All fixed assets over £1,000 are capitalised. The charge for depreciation is calculated to write off the cost of the fixed assets over their useful lives on the following bases:

Office & Musical Equipment 25% on the reducing balance
Furniture & fittings 25% on the reducing balance
Freehold Office
 1% on the Straight-Line Method

Assets are depreciated from the time at which they are brought into use.

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WORLD HARVEST CHRISTIAN CENTRE STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS – 31 DECEMBER 2023

2. TANGIBLE FIXED ASSETS

Freehold
Properties
£
COST:
AT 01/01/2022
452,138
At 31/12/2022
452,138
DEPRECIATION:
At 01/01/2022
65,342
Disposal
Charge for the year
4,521
At 31/12/2022
69,863
NET BOOK VALUE:
At 31/12/2023
382,275
At 31/12/2022
386,796
3. CREDITORS- Within one year
A.Babatunde
Ajoku E.C.
Accruals and deferred income
Trade Creditors
4. CREDITORS- Due after one year
Mortgage Loans - 2 - 5 years
Architects Building Drawing
5. DEBTORS
Debtors (Property)
Command Prayer
Other Debtors		 Office
Equipment
£
47,680
47,680
45,209
618
45,827
1,853
3,298		 Musical
Equipment
£
31,932
31,932
31,838
32
31,870
63
95		 Furniture
£
29,655
29,655
26,407
1,083
27,490
2,165
3,248
2023
£
43,000
-
-
-		 TOTAL
£
561,405
561,405
168,795
6,253
175,049
386,356
392,610
2022
£
-
700
2,768
200
3,668
2022
£
69,560
16,000
85,560
2022
£

898,155
4,000
6,300

43,000
2023
£
56,146
-
56,146
2023
£


898,155
-
4,750
902,905 908,455

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WORLD HARVEST CHRISTIAN CENTRE STATUTORY FINANCIAL STATEMENTS AND TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2023

Detailed Statement of Financial Activities
Voluntary Income
Tithes and Offerings
Interest
Renting Income
Total Incoming Resources
Resources Expended
Charitable Activities
Donations and Welfare
Missions
Honorarium
Project
Events
Media
Support and Management Costs
Salary
Telephone and Internet
Lighting and heating
Travel and accommodation
Insurance
Depreciation
Finance
Mortgage & Loan interest
Bank charges
Others
Repairs & Renewals
Rent
Equipment
Admin / Office expenses
Total Resources Expended
Net Income/ Expenditure		 2023
2022
Total
Total
£
£
86,616
83,429
10
2
9,350
7,700
95,976
91,131
23,239
21,335
2,952
4,364
5,300
2,850
-
1,712
8,142
7,276
-
250
39,633
37,787
43,000
-
2,174
2,439
4,681
1,154
7,860
5,270
1,184
-
6,253
6,458
65,152
15,322
2,497
2,732
2,623
2,475
5,120
5,207
4,407
8,112
5,900
9,585
4,332
3,133
11,644
25,198
26,283
46,029
136,189
104,345
-40,213
-13,213

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