KINGS FOR CHRIST MINISTRIES
Charity no. 1081395
Report and Financial Statements
Year ended 30[th] June 2024
IMPACT FINANCIALS
Regus
15[th] Floor, Brunel House Cardiff CF24 0EB
KINGS FOR CHRIST MINISTRIES
Report of the trustees for the year ended 30[th] June 2024
The trustees present their annual report and financial statements of the charity for the year ended 30[th] June 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and the Accounting and Reporting by Charities: Statement of Recommended Practice.
Objectives and activities for the public benefit
The purposes of the trust continue to be the furtherance of the Christian faith by lifting up the Lord with Holy Spirit inspired prayer, praise and worship. Also to bring believers into the maturity of their callings and anointings. To evangelise the community and reach out to the unsaved.
The trustees confirm that they have referred to the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.
The trustees achieve this by separate strategies aimed at those who do not have a relationship with Jesus Christ and those who have already accepted Jesus Christ as their Saviour and Lord.
Non believers are targeted by various outreach activities based either in the local community or further afield.
For believers, the trustees endeavor to create an environment where a person’s faith can be increased and matured by access to:
Regular biblical teaching
Praise, worship and prayer meetings
Provision of pastoral works
Visiting and praying for the sick and infirmed
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KINGS FOR CHRIST MINISTRIES
Report of the trustees for the year ended 30[th] June 2024
A review of our achievements and performance
During the year, the church continued to gather regularly with its focus on preaching and impacting the lives of its members. Through its spiritual guidance and outreach, the church has fostered an environment of transformation and growth for its congregation.
The Sunday School for children remained an excellent part of the church’s activities with lessons aligned to the overall church focus, ensuring the young minds are nurtured in faith and knowledge.
The church’s mentoring program continued to be a success, meeting every first Saturday of the month, providing support and guidance to both young and adults. Additionally, children enjoyed various outing activities, helping to build community and personal development.
A major highlight of the year was the celebration of the church’s 25[th] anniversary in July 2024, marking a significant milestone in its mission to serve the community and foster spiritual growth. Through all these efforts, the church has remained a source of support, guidance and transformation for the public at large.
Financial review
The work of the trust is entirely dependent on the voluntary offerings of people attending the various meetings that have taken place.
The income for the year was £26,194 (2023 = £15,823). This includes amounts received under the Gift Aid system.
Risk Management
a. Financial
- This includes a serious decrease in the amount of income received and thereby causing the trust to be unable to meet its financial commitments. This has been mitigated by the trust receiving regular up to date financial information to enable the trustees to plan accordingly.
b. Reputational
The Board of Trustees are aware of the factors that could affect the reputation of the charity and are constantly looking for ways to minimize these risks.
Reserves policy
The trustees have decided to spend as much money as possible on furthering the core objects of the charity whilst maintaining sufficient cash funds to ensure the financial sustainability of the charity.
To achieve this, the trustees aim to maintain free reserves in unrestricted funds at a level which equates to 3 months of unrestricted charitable expenditure. The trustees also want to put aside additional funds to finance a move to a better venue as soon as one becomes available.
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KINGS FOR CHRIST MINISTRIES Report of the trustees for the year ended 30[th] June 2024
Reserves Policy (contd)
The level of unrestricted reserves as at 30[th] June 2024 was £3,200 after allowing for funds tied up in tangible fixed assets.
3 months average unrestricted charitable expenditure is £5,750.
The current level of reserves is inadequate as per the above policy and the trustees are taking steps to remedy this.
Structure, governance and management
The trust is a registered charity, number 1081395, and is constituted under a Trust Deed dated 14[th] December 1999 as amended in May 2000.
The trust does not raise funds from the public and seeks to continue its charitable works through the careful stewardship of the donations from members.
Regular meetings of the trustees take place using electronic means. Regular topics of discussion include the way forward, finding a suitable place of worship, the level of reserves, the financial position and risk management policies.
The day to day leading of the charity is delegated to Pastor Timothy Oladipo.
New trustees are chosen from the membership after showing continuous integrity and faithfulness to the charity. Before accepting the position, the potential trustee is given copies of the Trust Deed, previous financial statements and meets with the existing trustees for an overview of plans of the charity for the future. Any training requests are quantified and arrange as necessary.
Key management personnel remuneration
The trustees consider the board of trustees as comprising the key management personnel of the charity and are in charge of directing and controlling the charity.
All trustees give their time freely and no trustee remuneration was paid in the year. Related party transactions are shown in note 7
Trustees are required to disclose all relevant interests and are required to withdraw from decisions where a conflict of interest arises.
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KINGS FOR CHRIST MINISTRIES
Report of the trustees for the year ended 30[th] June 2024
Trustees
Pastor Timothy Oladipo Olusola Oladipo Revd Dr Christiana Toluwase Pastor Peter Magbadelo
Principal office
11 High Tor View T hamesmead
London SE28 0LN
Independent Examiner
George A Kitcher FCA Regus 15[th] Floor Brunel House Cardiff CF24 0EB
Bankers
Lloyds Bank PLC. Woolwich Branch 30.98.88
Future plans of the Charity
Looking ahead, the church plans to continue building on the successes of the past year by maintaining its focus on spiritual growth, community support and transformation. We aim to further enhance our Sunday School programs, expanding the reach of our mentoring initiative and providing more engaging activities for the children. The church will also continue its commitment to gathering and preaching to the members, ensuring that we remain a source of guidance and support. As we look to the future, we remain dedicated to impacting lives, fostering personal growth and strengthening the community both within and beyond our congregation.
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KINGS FOR CHRIST MINISTRIES
Report of the trustees for the year ended 30[th] June 2024
Trustees’ responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees’ annual report and 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 requires the charity trustees to prepare financial statements in each 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 of the charity for that period. In preparing the financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the applicable Charities SORP;
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Make judgments and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial information may differ from legislation in other jurisdictions.
Approved by the trustees on 29[th] April 2025 and signed on their behalf by
Pastor T Oladipo - Trustee
..…………………………………………
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KINGS FOR CHRIST MINISTRIES Statement of Financial Activities Year ending 30th June 2024
| Total | ||
|---|---|---|
| Note | Funds | |
| 2024 | ||
| £ | ||
| Income | 1 | |
| Donations | 3 | 26,194 |
| Investment Income | 4 | 0 |
| TOTAL INCOME | 26,194 | |
| Expenditure | 1 | |
| Expenditure on charitable | ||
| activities | 5 | 23,059 |
| TOTAL EXPENDITURE | 23,059 | |
| Net incoming/(expenditure) | 3,135 | |
| Reconciliation of funds | ||
| Total funds brought forward | 265 | |
| Total funds carried forward | 3,400 |
| KINGS FOR CHRIST MINISTRIES | KINGS FOR CHRIST MINISTRIES | |
|---|---|---|
| Balance Sheet as at 30th June 2024 | ||
| Note | Total | |
| Funds | ||
| £ | ||
| Fixed assets: | 1 | |
| Tangible assets | 8 | 200 |
| Total fxed assets | 200 | |
| Current assets: | ||
| Debtors | 4,476 | |
| Cash at bank and in hand | 958 | |
| Total current assets | 9 | 5,434 |
| Liabilities: | ||
| Creditors falling due within | ||
| one year | 10 | -2,234 |
| Net Current assets | 3,200 | |
| Net assets | 3,400 | |
| The funds of the charity: | 1, 11 | |
| Unrestricted income funds | 3,400 | |
| Total charity funds | 3,400 |
The notes at pages 10 to 13 form part of these accounts
Approved by the trustees on 29th April 2025 and signed on their behalf by:
Pastor T Oladipo - Trustee
KINGS FOR CHRIST MINISTRIES Notes to the accounts
1. Accounting Policies
(a) Basis of preparation and assessment of going concern
The accounts (financial statements) have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practic applicable to charities, the Charities Act 2011 and applicable regulations.
The accounts have been prepared under the historic cost convention with it recognised at cost or transaction value unless otherwise stated in the releva to these accounts.
(b) Funds structure Unrestricted Funds
The unrestricted funds are available to be spent on the furthering of the obj charity as seen fit and proper by the trustees.
(c) Income recognition
All income is recognised once the charity has entitlement to the income, the sufficient certainty or receipt and so it is probable that the income will be re and the amount of income receivable can be measured reliably.
Donations from members and other donations are recognised when receive
Income in respect of HMRC Gift Aid claims is recognised when the claim has submitted to HMRC.
Interest on funds held on deposit is included upon notification of the interes by the Bank.
(d) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or const obligation committing the charity to that expenditure, it is probable that set will be required and the amount of the obligation can be measured quickly. All expenditure is recognised on an accruals basis.
KINGS FOR CHRIST MINISTRIES Notes to the accounts
(e) Irrecoverable VAT
Irrecoverable VAT is charged against the expenditure head for which it was
(f) Governance costs
Governance costs comprise all costs involving the public accountability of th and its compliance with regulation and good practice. These costs include th independent examination and any costs incurred relating to trustee board m
(h) Charitable activities
The expenditure on charitable activities includes the governance costs and in notes 5 and 6.
(i) Tangible fixed assets and depreciation
All assets costing more than £500 are capitalised and valued at historic cost Depreciation is charged from the year of acquisition at rate of 25% pa on a reducing value basis.
(j) Pensions
At the current time the charity does not provide any pension provisions as it not have any employees.
2. Related party transactions and trustees' expenses and remunera
The trustees all give freely of their time and expertise without any form of remuneration or other benefit in cash or kind. They are entitled to claim any expenses. The amount of expenses paid during the year was £nil ( 2023 = £
3. Income
| 2024 | |
|---|---|
| £ | |
| Donations | 20,074 |
| Gift Aid | 6,120 |
| 26,194 |
KINGS FOR CHRIST MINISTRIES Notes to the accounts
4. Investment Income
| 4. Investment Income | |
|---|---|
| 2024 | |
| £ | |
| Interest on cash deposits | 0 |
| 5.Expenditure on charitable activities | 2024 |
| Donations and Guest Speakers | 0 |
| Pastoral Costs | 16,570 |
| Hall Hire | 2,400 |
| Administration | 274 |
| Bank Charges | 84 |
| Depreciation | 65 |
| Streaming Costs | 409 |
| Professional Fees | 745 |
| Insurances | 211 |
| Website Expenses | 0 |
| Activities | 900 |
| Council Tax | 846 |
| Communion Expenses | 30 |
| 22,534 | |
| 6. Governance costs | 2024 |
| £ | |
| Independent Examination | 525 |
| Costs of meetings | 0 |
| 525 |
7. Analysis of staff costs
As previously advised, the charity did not have any employees during the p
Pastor Oladipo, a Trustee, received remuneration on a self employed basis o £16,570 ( 2023 = £15,702 ) for his duties as pastor of the ministry.
KINGS FOR CHRIST MINISTRIES Notes to the accounts
8. Tangible fixed assets
| Equipment | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| At 1st July | 2023 | 1,480 | |
| Additions | 0 | ||
| Disposals | 0 | ||
| At 30th June 2024 | 1,480 | ||
| Depreciation | |||
| At 1st July | 2023 | 1,215 | |
| Charge for | the year | 65 | |
| Eliminated | on disposals | 0 | |
| At 30th June 2024 | 1,280 | ||
| Net book | value | ||
| At 30th June 2024 | 200 | ||
| At 30th June 2023 | 265 | ||
| 9. Analysis of current assets | 2024 | ||
| £ | |||
| Gift Aid repayment | 4,476 | ||
| Cash at bank | 958 | ||
| 5,434 | |||
| All current assets relate to unrestricted funds |
| 10. Analysis of current liabilities | |
|---|---|
| 2024 | |
| £ | |
| Creditors under 1 year | 2,234 |
| All current liabilities relate to unrestricted funds. |
Total Funds 2023 £
15,823 0 15,823 18,371 18,371 -2,548 2,813 265
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Prior Year £
265 265 645 255
900
-900
0
265
265 265
:
Page 9
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Page 10
incurred.
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2023 £ 13,925 1,898 15,823
Page 11
2023 £
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2023
150 15,702 500 273 77 88 421 345 203 87 0 0 0 17,846 2023 £ 525 0 525
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2023 645 255 900 2023 900 Page 13
Independent Examiner’s report to the Trustees of
KINGS FOR CHRIST MINISTRIES
I report on the accounts for the trust for the year ended 30[th] June 2024 which are set out on pages 8 to 13.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity trustees consider that an audit is not required under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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Examine the accounts under section 145 of the Charities Act;
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Follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Charities Act, and
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To 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 direction given by the Charity Commissioners. 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, and seeking explanations from you as trustees on any such matters. The procedures undertaken do not provide all the evidence that would be required by 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 matters set out in the statement below.
Independent examiner’s statement
I n 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 130 of the Charities act, and
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act
Have not been met; 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.
George Kitcher FCA
Chartered Accountant
Regus 15[th] Floor Brunel House
Cardiff
CF24 0EB
30[th] April 2025.
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