REGISTERED CHARITY NUMBER: 1070584 (England and Wales) FRONT INE Report of the Trustees and Financial Statements for the Year Ended 31 Dember 2023 For FRONTLINE MINISTRIES (ENFIELD)TRUST
FRONTUNE MINISTRIES{ENFIELD)TRUST Contents of the Financial Statements for the Year Ended 31 December 2023 REGISTERED CHARITY NUMBER: 1070584 {England and Wales) Report of the Trustees and Financial Statements for the Year Ended 31 Dember 2023 FRONTLINE MINISTRIES (ENFIELD)TRUST Page Contents Report of the trustees Independent Examiner Statement of Financial Activities Balance Sheet 10 Notes to the Financial Statements Detailed Statement of Financial Activities 11-13 14 Page 1
FRONTUNE MINISTRIES{ENFIELD)TRUST Report of the Trustees for the Year Ended 31 December 2023 The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of the Statement of Recommended Practice ISORP} 'Accounting and Reporting by Charities, issued in March 2005. REFERENCE AND ADMINISTRATIVE DAlLs Registered Charity number 1070584 Principal Address 12 Lincoln Crescent Enfield ENI IJY Trustees Mr Dayo Olusesi Chair Reverend Olayinka John -Trustee Pastor Adeniyi John Trustee Pastor Omoniyi Ajayi - Trustee Mr Emmanuel Akiboye -secretary Bankers Barclays Bank Upper Edmonton Edmonton London N288 HSBC Romford Branch 9 Market Place Romford Essex RMI 3AF Independent Examiner AE Accountax Ltd Unit I, Reynard House 5A Castlefield Road Reigate RH2 OSA Page 2
FRONTUNE MINISTRIES{ENFIELD)TRUST Report of the Trustees for the year ended 31 December 2023 The Trustees are pleased to present their Annual Report with the independently examined accounts of Frontline Ministries {Enfield) Trust for the year ended 31 December 2023. FINANCIAL REVIEW The results of the yearfs operation are set out in the financial statements below. The net movement in funds for 2023 amounted to a surplus of £10,070 and a deficit of1£6,831) in 2022. RESERVE POLICY The Charity Commission requires charities to determine and explain their policy for free reserves. The Trustees have reviewed its free reserve policy and have turned its entire unrestricted fund into an emergency reserve to enable Frontline Ministries (Enfield) Trust to meet its obligations in the event of a shortfall in income or sudden upturn in expenditure. RISK MANAGEMENT The trustees have examined the major risk which Frontline Ministries (Enfield) Trust faces and believes that maintaining our free reserves at a reasonable level, combined with our annual review of the controls over key financial system will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which we face and confirm that they have established systems to mitigate the significant risks. FUNDS AVAILABLE The present level of funding 15 adequate to SUPPOrt the continuation of the charity operations for the medium term, and trustees consider the financial position of the charity to be satisfactory. VOLUNTEERS Frontline Ministries {Enfield) Trust recognizes the significant contributions made by volunteers. STRucfuRE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. Page 3
FRONTUNE MINISTRIES{ENFIELD)TRUST Report of the Trustees for the year ended 31 December 2023 (Continued) Objectives and Principal Activities: The overall objectives of the charity are: l. The advancement of the Christian Faith in accordance with the teachings of the bible. 2. The advice and relief to the poor, aged, sick and those in conditions of hardship and distress. 3. Other charitable purposes as the Trustees may determine from time to time. Page 4
FRONTUNE MINISTRIES{ENFIELD)TRUST Report of the Trustees for the year ended 31 December 2023 {Continued} ACHIEVEMENT AND PERFORMANCE FOR THE YEAR 2023 Charitable Activities Frontline Revival Church (FRC) We have been experiencing additions to the church. We have had guest speakers during the year and have introduced mini-night vigils to enhance the church. The church moved to Edmonton Unit 9a to conduct our Sunday services as the Maad restaurant claimed they were undergoing renovation. The church decided to do the Sunday services only on zoom because of issues with the accommodation. Appointment of Sharon as Church Secretary (volunteer) We appointed Sis Sharon Wolfe as the church secretary to improve the church administration. She will be responsible for many parts of the church administration, including communicating on behalf of the church and eventually becoming a signatory to the church accounts. Ordination of Brian 3rd September 2023 After 8 weeks of training and careful prayers, Bro Brian was ordained an Elder in the church. He will be known as 'Minister Brian" He had already been carrying out most of the duties of an elder before the ordination. However, included responsibilities will be teaching, caring for the church members through prayer, and liaising with heads of departments for effective performance. Thursday meetings Our Thursday zoom meetings have been used to teach church members about specific topics such as the just concluded topic on Gifts of the Spirit. Saturday evangelism Evangelism has now become a church program. Every 2nd and 4th Saturday is fixed. The church is experiencing people vi51ting and one or two becoming new members. FMI The Tuesday prayer meetings continue to pray and intercede for UK and other nations, tackling topics such as peace and stability in the nation and personal needs of individuals. We have moved from meeting at Unit 9a Nobel House to online zoom meetings in November 2023. This is a temporary measure. Page 5
FRONTUNE MINISTRIES{ENFIELD)TRUST Report of the Trustees for the year ended 31 December 2023 {continued) The RPPUK Monday morning prayer5 continue from 5am to 8am on zoom. 50 Days of Prayer was held from 9th April till 28th May, Pentecost Sunday. This was done on Zoom every day 5 am to 8 am. On Pentecost Sunday, the FRC Sunday service was opened up to all the RPPUK family and others to join in the service. On July 20th we had a Zoom meeting with Apostle Jenny Watson on Prophetic Encounter. This was well attended with our zoom capacity being maxed reaching over 100. Travailing Parents prayer meeting continues to be held on Zoom every 3rd Saturday of the month 7 am to 8 am. Our face-to-face meeting was held on 10th June 2023 with guest ministers Pastor Pre and Tina Ovia. Awaken youth meeting this year was tagged, NOT OF THIS WORLD, THE POWER OF BEING DIFFERENTwas held at a new venue, Kings Cross Baptist Church, with improved attendance despite the rain on the day. The Awaken worship team did very well, so much that the pastor of the church we used invited them to lead worship in one of their meeting5. Acts of Mercy IAOM) continues with the monthly sUPPOrt of 11 widows in Nigeria Crusade in Nigeria After a 4-year break, due to the Covid 19, we were able to do our healing and evangelical crusade in 3 parts of Nigeria. Ede, Oyo and Ibadan. They were held between 8th to 14th November 2023. Various healings and distribution of food as well as business starter grants were given to widows. The various church leaders were tremendously touched. Report by Pastor Niyi John. Page 6
FRONTUNE MINISTRIES{ENFIELD)TRUST STATEMENT OF BOARD OFTRUSTEES. RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports} Regulations 2CK18 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at 3ny time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Report5) Regulations 2008 and the provisions of the trust deed. They are a150 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other i rregula rities. Approved by order of the board of trustees on 5 October 2024 and signed on its behalf by: Adeniyi John- Trustee SIGNED VIA ILOII£PDF 3r88FOEE-6EED-IJ 92 CI_AC6E-C7SI 4069?A93 Page 7
FRONTLINE MINISTRIES(ENFIELD)TRUST Inde endent Examiner's Re ort to the Trustees of Frontline Ministries Enfield Trust I report on the accounts for the year ended 31 December 2023 set out on pages three to ten. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year {under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: examine the accounts under Section 145 of the 2011 Act to follow the procedures laid down in the General Directions given by the Charity Commission (under Section145151(b) of the 2011 Act); and to state whether particular matters have come to my attention Basis of the independent examiner's report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide 311 the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matter5 set out in the statements below. Independent examiner's statement In connection with my examination, no matter has come to my attention: {1} which gives me reasonable cause to believe that, in any material respect, the requirements to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of thestatement of Recommended Practice: Accounting and Reporting by Charities have not been met; or {2} to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accountsto be reached. Signature Date......../1012024............ 2211012024 Bim Ewetade FCCA, (Hon5) Accounting & Finance, AFA,MIPA/AFTA. Independent Examiner Page 8
FRONTLINE MINISTRIESIENFIELD)TRUST Statement of financial activities Unrestric- ted funds Restricted funds Totsl Funds Yr 2023 Yr 2022 Incoming resources Donations & Legacies Other Incoming Resource 49,182 3,240 52,422 37,949 Other (interests etc.) GiftAid Conference Total 7,411 15,312 7,411 15,312 71,910 3,240 75,150 37,950 Resources expended (Note 6) Expenditure on: Charitable activities 48,473 2,396 50,870 44,210 Support Costs 14,211 14,211 625 Total 62,684 2,396 65,080 44,835 Net income/{expenditure) before investment gains/(losses) Net gains/llossesl on investments 9,226 844 10,070 (68851 Net income/{expenditure) 9,226 844 10,070 (6885) Net movement infunds 9226 844 10070 (68851 Reconciliation offunds." Total funds brought forward io,ioo 453 10,553 17,438 Totalfunds carried forward 19,326 1,297 20,623 10,553 CONTINUING OPERATIONS All incoming resources and resources expended arise from continuing activities. Page 9
FRONTLINE MINISTRIES(ENFIELD)TRUST Balance sheet as at 31 December 2023 Restricted income funds Unrestricted funds 2023 2022 Fixed assets Current assets Cash at bankand in hand 20,402 917 21,320 17,453 Total current assets 20,402 917 21,320 17,453 Creditors: amounts falling due within one year 697 697 6,901 Net current assets/(liabilitiesJ 19,705 917 20.623 10,552 Total ossets less current liabilities 19,706 917 20,624 10,553 Creditors: amounts falling due after one year Provisions for liabilities Total net assets or liabilities 19,706 917 20,624 10,553 Funds of the Charity Restricted income funds 1,297 1,297 Unrestricted funds 19,327 19,327 10,553 Revaluation reserve Totalfunds 20,624 20,624 10,553 The financial statements were approved by the Board of Trustees on - and were signed on its behalf by: 2024 1611012024 Adeniyi John - Trustee Page 10
ACCOUNTING POLICIES Accounting convention The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities {effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. Incoming resources All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Resources expended. Expenditure 15 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to headings, they have been allocated to activities on a basis consistent with the use of resources. Allocation and apportionment of costs-charitable activities Costs of charitable activities are those costs relating to the activities carried out to meet the objectives of the Charity. These include both directly attributable costs and apportioned support costs. Governance costs Governance costs are the costs associated with the strategic direction of the Charity and with meeting regulatory responsibilities. Tangible fixed assets Depreciation is normally provided at the following annual rates to write off each asset over its estimated useful life. Church Equipment 20¥0 on straight line Office Equipment 20% on straight line There are presently no capitalized assets on the records of the Charity. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes. The Charity has I restricted fund called: Acts of Mercy. Donors have made contributions to this purse, for the purpose of helping widows and orphans. Page11
FRONTLINE MINISTRIESIENFIELD)TRUST Unrestric- ted fund Restric- ted Fund Incoming resources Donations & Legacies Acts of Mercy Support Conference Registration Fee Yr 2023 Yr 2022 3,240 3,240 3,201 15,312 15,478 15,312 15,478 Offering PartnerGiving Special Giving Thanksgiving Income 10,839 3,745 1,625 622 3,745 1,625 622 3,540 4,383 975 8,203 19,508 8,203 19,508 Tithes 15,010 Other Incoming Resource Other {gain sale of asset) GiftAid 7,411 71,904 7,411 75,144 Totsl 3,240 37,949 CREDITORS This represents the amount accrued as professional fees for independent examination and professional charges on annual accounts and reports. 2023 2022 Independent Examination and Fees received in advance for Conference Accruals for other cha ritable activities- 550 £570 £5,965 147 £366 6,901 697 Trustees Remuneration & Benefits 2 Trustees who are also Pastors were paid for the services they provide to the charity. 2023 2022 8,900 5,900 The payments are solely related to their roles as Pastors and are not related to their trustee duties. Trustees. expenses There were no trustees expenses paid for the year ended 31 December 2023 Page 12
FRONTLINE MINISTRIES{ENFIELD)TRUST CASH IN HAND &AT BANK 2023 2022 2,466 Account l- Parent 3,313 Account 2- Prophetic School 258 3,941 Account 3- Acts of Mercy Account 4- Barnet 917 819 16,531 10,227 Savings 300 21,320 17,453 There were no employees duringthe year.
FRONTLINE MINISTRIES{ENFIELD)TRUST Detailed Statement of Financial Activitiesfor the Year Ended 31 Dember 2023 2023 202Z Unrestricted Fund Restrirted Fund Totsl Incoming Resources Non-Profit Income Acts of Mercy Support Conference Registration Fee Gift Aid Offering Outreach/ Crusade Income Partner Giving Prophetic School Retreat Special Giving Thanksgiving Tithes Total Non-profit Income Other Income 3,240 3.240 15,312 7,411 15.478 8,203 3,745 4,840 3,497 15.312 7.411 15,478 8,203 3.745 12,654 4,360 1.625 622 19.508 71,904 1.625 622 19,508 75,144 2,653 680 17466 £46131 3,240 Total Income 71,911 3,240 75,151 46,131 Resources Expended AdvertIsinPrOMotIOnal Conferences Equipment Equipment Storage Rent Gifts Honorarium Hospitality Missions Benevolent Giving Missions - Acts of Mercy Office/General Administrative Expenses Training Outreachl Crusade Phone Costs Printin& Postage and Repair and maintenance Stipend l Allowances Subscription Website Maintenance Travel & Accomodation Hall Hire Resources Expended 89 15.704 89 IS.704 28 2,738 452 390 3,218 1,585 717 1,980 loo 4,731 314 1.664 7,392 1.396 3.710 630 314 1,664 7,392 1,396 3,710 630 2.396 2,396 577 577 861 50 3,014 527 9.652 415 9.652 415 496 496 796 116 5,900 243 638 4,515 11,613 44,212 8.900 284 555 8,9(KJ 555 308 9,989 64.470 9,989 62.074 2,396 Governance Independent Examination Total Expenditure 550 550 570 62,624 2,396 65,020 44,782