FRESH FIRE MINISTRIES
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2[ND] SEPTEMBER 2021
REGISTERED CHARITY NUMBER: 1061235
FRESH FIRE MINISTRIES 342 – 344 LONDON ROAD MITCHAM SURREY CR 3ND
INDEX Page Legal & Administrative Details 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Statement of Financial Activities 5 Balance Sheet 6 Notes on the financial Statements 7- 10
FRESH FIRE MINISTRIES
LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 2[ND] SEPTEMBER 2021
ADDRESS FOR CORRESPONDENCE
342 – 344 LONDON ROAD MITCHAM CR4 3FH
REGISTERED CHARITY NUMBER
1061235
GOVERNING DOCUMENT
DECLARATION OF TRUST 2[ND] FEBRUARY 1997.
TRUSTEES/ DIRECTORS
MRS EBI AJUKA MR ABIODUN ADETONA MRS ANGELA SEGUN
PRINCIPAL BANKERS
LLOYDS BANK PLC 25 GRESHAM STREET LONDON EC2V 7HN
INDEPENDENT EXAMINER
EPHRAIM CONSULTANCY SERVICES LTD 95 MILES ROAD MITCHAM SURREY CR4 3FH
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FRESH FIRE MINISTRIES
TRUSTEES’ REPORT YEAR ENDED 2[ND] SEPTEMBER 2021
The trustees are pleased to present their report for the year ended 2[nd] September 2021 for the charity, FRESH FIRE MIISTRIES with Charity Number 1061235.
The Trustees of the charity are: Mrs Ebi Ajuka Mrs Angela Segun Mr Adetona Abiodun
The principal address of the charity is : 342 – 344 London road Mitcham Surrey CR4 3ND
OBJECTIVES AND ACTIVITIES
The main object of the charity is advancing the Christian faith worldwide in accordance with the doctrines set out in the statement of beliefs and to relieve poverty and sickness arising from natural disaster or conflict in any part of the world. The trustees can confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Church is governed by a leadership team on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position. It has a trust deed that was executed on 2[nd] February 1997.
ACHIEVMENTS AND PERFORMANCE
The church continues to develop itself in the community. The church also continues to hold regular services that are open to the general public. The church held successful conferences during the year, and it also helped to sponsor missionary work overseas. The church continues to support missionary work in Nicaragua and Nigeria. The church welcomed new attendants into its congregation this year. It continues to support some of the needs of its community through evangelistic outreaches during the Christmas and Easter times. The church now holds its midweek services on Zoom as this has proven to reach more people in the community.
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FINANCIAL REVIEW
The income of the church is above £64,000. This is a higher amount than the previous year however the costs have been well managed over this period. So the church hopes to continue its work in the coming year without any unnecessary financial constraints. The church used most of its income on the rent of the building and maintaining the building. It also spent money on paying council rates it and other bills on the building it uses for its worship services.
FUTURE DEVELOPMENTS
The church plans to continue its outreach into the community by providing spiritual support and holding its regular worship services and yearly conferences. It will continue to assist the widows and orphans in Nigeria, Philippines, and Nicaragua.
RESERVE POLICY
It is the policy of the Church to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure .This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The church will maintain this level throughout the year.
RISK MANAGEMENT
The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
TRUSTEE RESPONSIBILITIES
Under the Charities Act 2011,the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:
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Select suitable accounting policies and apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether the applicable accounting standards have been followed.
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Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 27[th] June 2022 and signed on their behalf by:
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Independent Examiner’s Report To the Trustees FRESH FIRE MINISTRIES
I report on the accounts of the church for the year ended 2[nd ] September 2021 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
Respective responsibilities of trustees and examiner
The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :
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Examine the accounts under section 145 of the 2011 Act.
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Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
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State whether particular matters have come to my attention.
Basis of Independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the church 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
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(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept( in accordance with section 130 of the 2011 Act
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
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(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Jacqueline Garshong Ephraim Consultancy Services Ltd 95 Miles Road Mitcham CR4 3FH 4
FRESH FIRE MINISTRIES
Statement of Financial Activities for the year ended 2nd September 2021
| Unrestricted Total Funds Funds 2021 2020 Incoming ResourcesNote £ £ £ from generated funds Donations & Legacies 2 54879 54879 45731 Investment income 3 0 0 0 _ ___ ___ ___ 54879 54879 45731 Other Income_ Other 9631 9631 8351 ______ _ Total Incoming 64510 64510 54082 Resources _____ _ Resources Expended Charitable activities in furtherance of objectives Charitable Activities 6 34,664 34,664 37206 Other 4 2633 2633 4281 _____ Total Resources 37,297 37,297 41487 Expended _________ Net movement in funds 27,213 27,213 12595 Reconciliation of Funds Total Funds brought forward 91855 91855 79260 Total Funds carried forward 119,068 119,068 91855 |
Unrestricted Total Funds Funds 2021 2020 £ £ £ 54879 54879 45731 0 0 0 |
Unrestricted Total Funds Funds 2021 2020 £ £ £ 54879 54879 45731 0 0 0 |
|---|---|---|
| ___ ___ __ 54879 54879 9631 9631 |
___ 45731 8351 |
|
| _________ 64510 64510 |
___ 54082 |
|
| ___ 37206 4281 |
||
| _________ 37,297 37,297 |
___ 41487 |
|
| _________ 27,213 27,213 91855 91855 119,068 119,068 |
___ 12595 79260 91855 |
The above funds are all classed as to purpose All movements of funds and all recognised gains and losses are included above.
The notes on the accounts form part of these accounts.
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FRESH FIRE MINISTRIES Balance Sheet as at 2nd September 2021
| Note 2021 Fixed Assets £ Tangible fixed assets 5 2296 _ 1621 _ Current Assets Cash at bank and 106491 in hand Debtors & prepayments 10956 117447 Creditors:amounts falling due within one year Creditors & accruals 8 0 _ Net Current Assets 117447 _ Net Assets 119068 Unrestricted Funds 119068 _ TOTAL FUNDS 119068 _ |
2020 £ 1621 __ 1621 |
|---|---|
| ___ 82542 7692 |
|
| 90234 0 |
|
| ___ 77236 |
|
| ___ 91855 91855 |
|
| _ 91855 _ |
Approved by the trustees on 27th June 2022 and signed on their behalf by :
The notes on these accounts form part of these accounts
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FRESH FIRE MINISTRIES
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 2[ND] SEPTEMBER 2021
1.1 Basis of Accounting
These accounts have been prepared under the historic cost convention with items Recognised at cost or transaction values otherwise stated in the relevant note(s) to These accounts. The accounts have been prepared in accordance with:
The Statement of Recommended Practice: Accounting and Reporting by Charities Preparing their accounts in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014.
- 1.2 Going Concern: The accounts are prepared on a going concern basis.
1.3 The accounts present a true and fair view and no change have been made to the accounting policies adopted.
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1.4 No changes to the accounting estimates have occurred in the reporting period
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1.5 No material prior year error have been identified in the reporting period.
Recognition of Income
These are included in the Statement of Financial Activities (SOFA) when:
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The charity becomes entitled to resources;
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It is more likely than not that the trustees will receive the resources;
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The monetary value can be measured with sufficient reliability.
Grants and Donations
Grants and Donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 512 FRS102 SORP)
.
Tax reclaim on donations and gifts
Gift Aid receivable is included in the income when there is a valid declaration from the donor. Any gift aid amount recovered on a donation is considered to be part of that gift and is treated in addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
EXPENDITURE AND LIABILITIES
Liability Recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Grants and Support Costs
Support costs have been allocated between the governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
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FRESH FIRE MINISTRIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 2[ND] SEPTEMBER 2021
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
ASSETS
Tangible Fixed Assets for use by the charity
They are capitalised if they can be used for more than one year. They are valued at cost. The depreciation is calculated at 20% reducing balance method.
Debtors
Debtors are measured on initial recognition at settlement amount. Subsequently they are measured at cash.
.
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FRESH FIRE MINISTRIES
Notes to the accounts for year ended 2nd September 2021
2 Voluntary Income
| Church collections Tithes and Offerings Others Total |
Unrestricted Total fundsTotal funds Funds 2021 2020 £ £ £ 54879 54879 45731 0 0 0 |
|---|---|
| _____ 54879 54879 45731 _____ |
3 Investment income
| **3 ** | Investment income | Investment income | ||||
|---|---|---|---|---|---|---|
| Unrestricted | Total fundsTotal funds | |||||
| Funds £ | 2021/£ | 2020/£ | ||||
| Bank Interest | 0 | 0 | 0 | |||
| **4 ** | Others | amount £/2021 | Amount £/2020 | |||
| Overseas Mission work | 1050 | 1710 | Supporting missions | |||
| Grants to individuals<£1000 | 1120 | 1741 | Charitable giving | |||
| Accountancy services | 430 | 430 | Promoting objectives | |||
| Admin | 33 | 400 | ||||
| Total | 2633 | 4281 | ||||
| _________ | ||||||
| **5 ** | Tangible Fixed Assets | Instrument | Fixtures | Equipment | Total | 2021 |
| Cost | £ | £ | £ | £ | ||
| At 03/09/2020 | 996 | 120 | 5687 | 6803 | ||
| Additions | 0 | 145 | 854 | 999 | ||
| ______ | ||||||
| At 02/09/2021 | 996 | 265 | 6541 | 7802 | ||
| Depreciation | ||||||
| At 03/09/2020 | 640 | 58 | 4484 | 5182 | ||
| charge for the year | 71 | 12 | 241 | 324 | ||
| ______ | ||||||
| At 02/09/2021 | 711 | 70 | 4725 | 5506 | ||
| Net Book Value at 02/09/2021 | 285 | 195 | 1816 | 2296 | ||
| Net Book Value at 03/09/2020 | 356 | 62 | 1203 | 1621 |
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FRESH FIRE MINISTRIES Notes to the accounts for year ended 2nd September 2021
| **6 ** | Cost of Activities in | furtherance of Charity's Objectives | furtherance of Charity's Objectives |
|---|---|---|---|
| 2021/£ | 2020/£ | ||
| Church supplies | 163 | 924 | |
| Maintenance/ Repair | 575 | 1070 | |
| Building rent | 22000 | 22000 | |
| Water rates | 60 | 400 | |
| Professional fees | 800 | 1426 | |
| Transportation costs | 0 | 0 | |
| Internet | 344 | 0 | |
| Welfare | 0 | 2245 | |
| Church events | 2242 | 1307 | |
| Light & Heat | 885 | 688 | |
| Hotel | 0 | 207 | |
| Insurance | 0 | 576 | |
| Advertising | 840 | 1960 | |
| Hire of equipment | 0 | 0 | |
| Stationary | 0 | 0 | |
| Depreciation | 324 | 403 | |
| Charity donations | 1673 | 0 | |
| Music Services | 0 | 0 | |
| Business rates | 3008 | 2368 | |
| Refreshments | 145 | 359 | |
| Web hosting | 79 | 144 | |
| Bank charges | 88 | 91 | |
| Ministers Expenses | 1040 | 800 | |
| Media services | 144 | 28 | |
| Subscriptions | 254 | 210 | |
| Travel | 0 | 0 | |
| Total | 34664 | 37206 |
No trustee received any payments during the financial year
| 8 Creditors: amounts falling due within one year Creditors 9 Debtors and Prepayments Tax recoverable Debtors Total 10 |
2021/£ 2020/£ 0 0 8456 7692 2500 0 |
|---|---|
| ______ 10956 7692 |