Company registration number 03525645 (England and Wales) Charity registration number 1069564 (England and Wales)
FOURSQUARE CHURCH (GREAT BRITAIN)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOURSQUARE CHURCH (GREAT BRITAIN)
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Reverend S Hulugalle | |
|---|---|---|
| Mr T Salami | ||
| O Okeowo | ||
| Reverend E O Adekanmbi | ||
| Mr O A Akindele | ||
| Secretary | O Okeowo | |
| Country of incorporation | United Kingdom | 03525645 |
| (England and Wales) | ||
| Charity registration | England and Wales | 1069564 |
| Registered office | 4 Lovers Walk | |
| Dunstable | ||
| Bedfordshire | ||
| LU5 4BG | ||
| Independent examiner | Galloways Accounting (Bexhill) Limited | |
| 23 St Leonards Road | ||
| Bexhill on Sea | ||
| East Sussex | ||
| TN40 1HH |
FOURSQUARE CHURCH (GREAT BRITAIN)
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 - 11 |
FOURSQUARE CHURCH (GREAT BRITAIN)
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
Objectives and activities
The Charity is the denominational umbrella organisation to which local Foursquare Churches are affiliated to collectively form Foursquare Church denomination in Great Britain. The affiliation process is clearly laid down in the Articles of Association and National By-laws. The main object of Foursquare Church (Great Britain) is the furtherance of the christian gospel through the establishment of churches and evangelistic programmes and education throughout England and Wales.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
Achievements and performance
Foursquare Church (Great Britain) continues to establish new churches throughout the country and to train leaders for these churches through a four stage National Church Development Process:
Stage 1 - The Initiating Stage (Evangelising)
Stage 2 - The Nurturing Stage (Strengthening)
Stage 3 - The Nationalising Stage (Consolidating)
Stage 4 - The Bridging Stage (Broadening)
Financial review
During the year the charity received income of £132,179 (2024: £91,830), and incurred expenditure of £128,675 (2024: £92,030). This resulted in a surplus for the year of £3,504 (2024: deficit of £200). The financial position of the charity at the end of the year is considered satisfactory.
At the year end the charity's total reserves were £29,014 (2024: £25,510), with free reserves amounting to £28,952 (2024: £25,430).
Reserves policy
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Risk assessment
The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
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FOURSQUARE CHURCH (GREAT BRITAIN)
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Structure, governance and management
Foursquare Church (Great Britain) is a charitable company limited by guarantee. The company was established under a Memorandum of Association which details the Objects and Powers of the charitable company and is governed under its Articles of Association.
Organisational structure
The majority of the Trustees of the company are also the Directors of the charity for the purpose of company law. The Memorandum and Articles of Association require trustees to be elected and to serve a term of office consisting of four years duration, after which they must be re-elected at the next AGM.
The Management Committee, also known as the "National Board" of Foursquare Great Britain, manages the day to day running of the company in accordance with the terms laid out in the Articles of Association and National By-laws.
Responsibilities of the National Board
Company law requires the National Board to prepare financial statements for each financial year. The members of the National Board who are directors for the purpose of company law and trustees for the purpose of charity law and who served during the year and up to the date of this report, are as follows:
Reverend S Hulugalle Mr T Salami Reverend P B Handrick (Resigned 4 June 2024) O Okeowo Reverend E O Adekanmbi Mr O A Akindele
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The Trustees report was approved by the Board of Trustees.
Mr T Salami
Trustee
Dated: 30 January 2026
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FOURSQUARE CHURCH (GREAT BRITAIN)
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF FOURSQUARE CHURCH (GREAT BRITAIN)
I report to the Trustees on my examination of the financial statements of Foursquare Church (Great Britain) (the Charity) for the year ended 31 March 2025.
Responsibilities and basis of report
As the Trustees of the Charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the Charity as required by section 386 of the Companies Act 2006.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Ainsley Gill BA FCA BFP
Galloways Accounting (Bexhill) Limited 23 St Leonards Road Bexhill on Sea East Sussex TN40 1HH 30 January 2026
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FOURSQUARE CHURCH (GREAT BRITAIN)
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 132,179 | 91,830 |
| Total income | 132,179 | 91,830 | |
| Expenditure on: | |||
| Charitable activities | 4 | 128,675 | 92,030 |
| Total expenditure | 128,675 | 92,030 | |
| Net income/(expenditure) and movement in funds | 3,504 | (200) | |
| Reconciliation of funds: | |||
| Fund balances at 1 April 2024 | 25,510 | 25,710 | |
| Fund balances at 31 March 2025 | 29,014 | 25,510 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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FOURSQUARE CHURCH (GREAT BRITAIN)
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
| Notes Fixed assets Tangible assets 9 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total assets less current liabilities The funds of the Charity Unrestricted funds 11 |
2025 £ 30,236 (1,284) |
£ 62 28,952 29,014 29,014 29,014 |
2024 £ 26,714 (1,284) |
£ 80 25,430 |
|---|---|---|---|---|
| 25,510 | ||||
| 25,510 | ||||
| 25,510 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 30 January 2026
Mr T Salami Trustee
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FOURSQUARE CHURCH (GREAT BRITAIN)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
Charity information
Foursquare Church (Great Britain) is a private company limited by guarantee incorporated in England and Wales. The registered office is 4 Lovers Walk, Dunstable, Bedfordshire, LU5 4BG.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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FOURSQUARE CHURCH (GREAT BRITAIN)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipment and fixtures 25% per annum - reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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FOURSQUARE CHURCH (GREAT BRITAIN)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
1.9 Employee benefits
The cost of any material unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Donations and gifts | 132,179 | 91,830 |
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FOURSQUARE CHURCH (GREAT BRITAIN)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
4 Expenditure on charitable activities
| Youth camp Conference and training 2025 2025 £ £ Direct costs Youth camp expenditure 43,012 - National leader support - 19,200 Conferences and training - 52,212 43,012 71,412 Share of support and governance costs (see note 5) Support 3,194 9,583 Governance 369 1,105 46,575 82,100 Analysis by fund Unrestricted funds 46,575 82,100 |
Total Youth camp Conference and training 2025 2024 2024 £ £ £ 43,012 16,377 - 19,200 - 18,400 52,212 - 43,365 114,424 16,377 61,765 12,777 3,049 9,495 1,474 336 1,008 128,675 19,762 72,268 128,675 19,762 72,268 |
Total 2024 £ 16,377 18,400 43,365 |
|---|---|---|
| 78,142 12,544 1,344 |
||
| 92,030 | ||
| 92,030 |
5 Support costs allocated to activities
| Depreciation Travel and subsistence Website costs Sundry Governance costs Analysed between: Youth camp Conference and training |
2025 £ 18 6,097 455 5,862 1,819 14,251 3,563 10,688 14,251 |
2024 £ 27 5,032 300 6,866 1,663 |
|---|---|---|
| 13,888 | ||
| 3,385 10,503 |
||
| 13,888 |
6 Trustees
S Hulugalle, a trustee of the charity during the year under review, received payments from the charity representing support costs, paid at arms length, amounting to £19,200 (2024: £18,400).
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FOURSQUARE CHURCH (GREAT BRITAIN)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
7 Employees
The average monthly number of employees during the year was:
| 2025 | 2024 |
|---|---|
| Number | Number |
| 5 | 5 |
There were no employees whose annual remuneration was more than £60,000.
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
9 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Office | |
| equipment and | |
| fixtures | |
| £ | |
| Cost | |
| At 1 April 2024 | 10,689 |
| At 31 March 2025 | 10,689 |
| Depreciation and impairment | |
| At 1 April 2024 | 10,609 |
| Depreciation charged in the year | 18 |
| At 31 March 2025 | 10,627 |
| Carrying amount | |
| At 31 March 2025 | 62 |
| At 31 March 2024 | 80 |
10 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Accruals and deferred income | 1,284 | 1,284 |
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FOURSQUARE CHURCH (GREAT BRITAIN)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
11 Unrestricted funds
| At 1 April | Incoming | Resources | At 31 March | |
|---|---|---|---|---|
| 2024 | resources | expended | 2025 | |
| £ | £ | £ | £ | |
| General funds | 25,510 | 132,179 | (128,675) | 29,014 |
| Previous year: | At 1 April | Incoming | Resources | At 31 March |
| 2023 | resources | expended | 2024 | |
| £ | £ | £ | £ | |
| General funds | 25,710 | 91,830 | (92,030) | 25,510 |
12 Related party transactions
Other than those disclosed in note 6, there were no disclosable related party transactions during the year (2024 - none).
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