SWORD OF THE SPIRIT EVANGELICAL OUTREACH Charity REG.No:1081609 TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST OCTOBER 2024 MOSES-BOLE & CO Chartered Certified Forensic Accountsnts Certified Public Accountants l Tax Advisers & Business Chartered Management Consultants SWORD OF THE SPIRIT EVANGELICAL OUTREACH CONTENT Trustees and Advisers Tru8toos' Roport 2&3 Indepondenl Examinfrr s Roport lo the Trustees Statement of Financial Activities Balance sheet Notss fomiing part of the Financial Statement 7t017 SWORD OF THE SPIRIT EVANGELICAL OUTREACH LEGAL AND ADMINISTATIVE INFORMATION Genaral overseer: Rev (Mrs) Adekunle Trustees: Rev (Mrs) Adekunle . Aiyegbusi - Chairperson Mr Bayo David Rufai Mr Lanre Olotu J. Johnson Registered Office: 305A Sprowston Mews Forest Gate London E7 9AE Minister In Charge: Charity No Rev.(Mrs) Adekunle 1081609 Bankers Lloyds TSB Accountants MOSES-BOLE & CO Certlfied Professional Accountants l Tax Advisers & Business Chartered Management Consultants 39 St. Brelades Court Balmes Road London N1 5TW SWORD OF THE SPIRIT EVANGELICAL oufREACH TRUSTEES REPORT FOR THE YEAR 31 OCTOBER 2024 The Trustees have the pleasure in submitting their report and accounts for the year ended 31 st October 2024. The financial statements have been prepared in accordan with the accounting policies set out on pages 7 to 10, and comply with the statement of Recommended practi￿ (SORP), issued 16th July 2014, and the Charity Act 2011, and applicable law. Ob ective and Activities The principal objective of the Charity is the advancement of the Christian faith worldwide and the relief of poverty The Trustees ar¢ delighted to report that the Church continues to flourish spiritually by ministering to its cornmunity in the UK. The church is growing in membership and is expanding its outreach to the community. Structure Governance Mana Constitution The Charity is consts'tuted under a Trust Deed and Charity registration Number 1081609 on the ￿ntral register of the Charity Commission of England and Wales. Method of A ointment or Election of Trustees The management of the charity is the responsibility of the Trustees, who are elected and co- Opted under the terms of the Trust Deed anisational Structure and DeciSion￿akin The church is organized so that the trustees meet regularfy to manage its affairs. One Minister who manage the day-to4ay administration of the church, and two volunteers Achievement and Performance We continue to be more focus￿ and greater success was achieved in the area of evangelism and community outreach. SSEO organised and, with great success. celebrdted the annual confereno in September 2024. Our youth went on community outreach quarterly basis and integrated with other youth in the community We also organise a day retreat to ALL Nation Christian College at Ware. It was very successful with a lot of testimonials. During this period. our minibus was stolen, and the Insurance company paid us compensation. During the year, we went on community evangelism and distributed food and drink to the people in the community. Future Develo The Church will continue to explore vaiious ways of spreadlng the Gospel of Christ effectively The Charity Is also looking to grow In membershlp and continue to develop its members to make Review of Flnanclal Posltlon The net incoming resources for the year amounted to £19,459.69 (Yr 2023 £11,950). All these have been unrestricted reserves, and no fund is allotted to restricted proJects. Rlsk Pollcy The Trustees have assessed the major risks to whlch the Charity is exposed, particularly those relab'ng to the operats'ons and finance, and are satiSfi￿j with the risk management system In Pla￿ to mitigate any risk exposure. Reserve Pollcy The trustees have established a policy whereby the Un￿StrICted fvnds not cornmitt&J or Invested in tangible fixed assets [the free reserves] held by the church should be 3 months Of annual expenditure. We are confident that with every precaubon taken and also considering the Pa￿ of growth in Charivs operations and finances, we would be able to sustain the current activities of the church in the event of a significant decrease in fijnding. Principal Funding This is provided mainly through voluntary tithes and offerings by the church members Realisable pledges are also taken for specific projects Approval This report was approved b oard of Trustees on Date......... Secretary/Chainnan:..... .Signature... q.Pf£.q. A-fqcc&uSI MOSES BOLE&CO INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES DOF sp Rl GE I report on the accounts of the charity for the year ended 3115T October 2024, which are set out below and notes to the financial statements on page5 7 to 17 Respective Responsibilities of Trustees and Examiners As the Charity's Trustees, you are responsible for the preparation of the account5; YOU consider that an audit is not required for this year {under section 144{2) of the Charity Act 2011lthe 2011 Act) and that an independent examination is needed. It is my responsibility to Examine the account (under section 145 of the Act),. follow the procedures laid down in the General Dirertions given by the Charity; Commission (under section 145(5) (b) of the 2011 Act and State whether particular matters have come to my attention. Basis of Independent Examinerfs 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 and seeking explanations from you as the Trustees concerning any such matters. The procedures undertaken do not provide all 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 viev/' and the report is limited to those matters set out in the statement below. Independent Examinerfs Statements In connection with the examination. no matter has come to my attention". - Which give me reasonable cause to believe that in any material respect the requirements To keep accounting records in accordance with section 130 of the 2011 Act. To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met or To which, in my opinion, attention should be drawn in orderto enable a proper understanding of the accounts to be reached Moses O E Igunnubole. BA (HONSJ FAIA FCP4 FF Munaging Portner MOSES-BOLE&CO IC, CPFA.. Cht7rtered Certified ForensicAccountGnts Certified Public Accountants/TaxAd And Business Chortered Monagernent Con5ultonts M."+44 758 407 5572 T: +44 020 7923 4W E. mrtses￿.Cun , W." TrKes-bol8.crm A. 39 ￿ Br8lades CWL 8dm8s road, Lo￿lOn. UniteLI Kingdorn. N1 SWORD OF THE SPIRIT EVANGELICAL OUTREACH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST OCTOBER 2024 Notes Unrestri(knl income Funds Furbts Prior year Funds Total Funds Funds Recommènded eat•gorl8s by aetlvlty Incomlng resources Income and ondomrts from". Donations and legacies (Xher Income: Profit from asset disposal Total Resourc•5 expended Expenditure oft: Dired C08t Support Cost Govemance Cost Total 27.156.93 27.156 93 31,564 22.096.28 49,253.21 22,096.28 49.253.21 31,564 1,551.73 27.491.79 750.00 29.793.52 1,561.73 27,491.79 750.00 29,793.52 3,279 15.834 500 19,613 N•t mov￿￿•￿* In lunds 19M59.69 19,459.69 11,950 Reeonclliatlon of funds: Total fvn¢Js brought fward Totsl funrls carrigd forward 196.259.37 215.719.06 196.259.37 184.3Q9 215.719.06 196,259 SWORD OP THE SPIRIT EVANGELieAL IXrTrEACH 3ALAN¢E SHEEY AS AT JIST OCTOBER 2024 Rg$trlctsd Endry Nol•• Unr•strthd kncom8 Funds Funds Furth Totsl Last Y8ar Total Funds Flxed iss•ts TBngibla a$$ets TDt&l lixed 88sel8 Current assèts Dèbtorn & Prepaymenls Cash ai bank and In hend Total cuTrnt a5set8 193,229.97 193 229.97 195,233 193.229.97 195.233 l2.5￿).OD 5,682.91 18.18191 12,$00.IYJ 5.682.91 18.18191 Credilors: ttmo￿ts fairing th￿ WI￿￿￿ ono )•ar 2,IY26 Nèt cuffenl assetrl{liabiliUès} Tol81 assets18s5 ¢uTrnt liabthl*s 1.645.00 - 16 537.91 2.082 CredilDT5: amounts fallry afteflTh ￿#r PTovislons for liebli I 209,767.88 197.295 5,951.18 5,951.18 1.036 Totsl W 85Sth or liabillte5 21&719.Q6 215.Y19.06 196,259 Funds ofthe Charlty Unt8stricied fund8 ReV￿uallon reg¢P Tofal fundj 215.719.C6 215.719.06 196,259 21&719.Q6 21&719.06 195.259 SvJned by one or ￿ trustees on b•haWd al tr* trthes: Si9nabAf8.- Date of approval.. If¥ 1025 *il Print Nam&: &v fVlfil¥ ¢tr(<-- 4-t> U SWORD OF THE SPIRIT EVANGELICAL OUTREACH NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31STOCTOBER 2024 Note 1 Basis of preparation 1.1 Basls of aecountlng These accounts have been prepared under the historical cost convention wrth items recA)gnised at cost or transaction value unless othenfvise stated in the relevant notels) to these accounts. The accounts have been prepared in accordants V￿th the Financial Reporting Standard applicable in the UK and Republic of Inland (FRS102} issued on 16 July 2014 and wvth the Charitses Act 2011 and the Chanty constitutes a public benefft as defined by FRS102. 1.2 Going coiicern Considering the stead level of incoming resour¢es andmembwshlp number the Charity is a going concem witlj no any known unforeseen circumstance 1.3 Change of accountlng policy The accounts present a true and fair view and the accounting poliaes adopted are those outtined in the note wtth no change in policy 1.4 Changos to accounting estlmates No changes to accounting estimates have occurred in the reporting period {3.46 FRS 102 SORP). 1.5 Mat•rial prior y•ar •m) No material prior year adjustsnents have been idenilfied in the reporbng period {3.47 FRS 102 SORP). SWORD OF THE SPIRIT EVANGELICAL OUTREACH NOTE TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST OCTOBER 2024 2.1 RECONCIUATIOM TIIITH PREVIOUS GEIIERALLY ACCEFfED ACCOVlmNG PIIACTICE There is no change in accounting policy in this period 2.2 INCOME This standard lisl of accounting poliaes has been applted by ts ¢harrty except forthose ti(*ed No or "Nla.. Where a differenl or additional policy has been adoptsd It￿ thts is dets1￿ in t)ox bel(Av. Re¢ognltlon of incom? Thesè are included in the Statement of Financial ACbVrt￿S ISOFAI *then: . the charity becornes entimed to the ￿soUrCes,. ' tt is likety than not that the trustees VAII recetve the resources.. arKI . the monetary vajue can te measured Sufficient ￿liabilIty. There has been no offsetling of assets aThJ liabifrfies, or hKome aThJ expens8S. Grants and donatloog Grants and donations are only incltthd in fv SOFA %then tr* gen￿￿ income recognition crltèri8 are met IS.10 10 5.12 FRS 102 SORPI. In the case of perfomance relale(I grants. income musl onty be recognised to the exlent that the charity has provide(1 Ihe specffied goods or ser¥ices as entillement to the grant onty OCCU￿ Mlen the Pgrfomance rèlated conditions are met {5.16 FRS 102 SORPI. L•oacl•s The￿ Is nolggacy re¢ei¥gd duriThJ IhK8 pwiod. Gov•rnmènl grants No government grant was r8¢¢iv&J during perfod. Tax reclalms Oh donath>n• and glfts Gift Aid fecètvable is included in income Vltsn lhe￿ is a valid dedaration fmm the donor. Any Gift Aid arnounl recovered on a donab.on is consKlered to be part of that gift arKI is treated as an addition to the same fund as inrttal donation unkss the donor or tem￿ of the appgal have s[￿fied othe￿Se. Contractual Incom• and p•rfornianc• rn14tod grnnts This Is not 8ppIl￿ble Donated goods There is no donal&J good. Donat•d sorvlc•s and facllltl Donated services arKI faciltttes are induded in the SOFA vknen rocgived al the valL* of ￿ gift to the charity promded the value ofthe gift can be measurèd reliabty. Donated services and faulities that are consume(l irnrnediately are rec(gnEed as income WTth an equivalent amount wniseij a5 an expense ur¥Jer the approme heading in the SOFA. Support costs The tharity has En￿Thed expenditure on support ￿$1$. Volunteer help The value of any voluntary help recewg11 not induded in the acuxrts tyjt is dewibed in the tnJ81ees' annual reporL Incom• from lfvt•res( royalties and dhidènds Not applicable durlng this period. Income Irorn m•mb•Trh&p subscrlptlon5 Tithes and offering re¢ewl from the members are in tr* na￿re of a gift a￿ recogni5ed as Donations. atKI Legaaes Settlem•ftt of Insurance ¢lalm• Insurance claims are only included in the SOFA when the general income fEcognition crrterfa ar• mel {5.10 to 5.12 FRS 102 SORP) arky are induded as an item of other ir￿orne in thè SOFA. Investment gafns and 105SOS This tncludes any realised or ￿n￿aliSed gains or losses on sale of investments and any gain or loss rg8ulbng from revalunig investments to Inarket valLre at the end of the year. 2.3 EXPENDITURE AND LIABILITIES Liability r•cognition Liabilities are recOgn￿ed where it is more likefy than not that the￿ is a *gal or co￿truCtive oblwJation committing the charity lo pay out resour￿ and the amiyjnt of the objrgation t￿￿ be measured ￿1th reasonable certainty. Gov•rnan¢• and support ¢wts Support Costs have bÈen allocated bei%wn g0Veman￿ costs aThJ I)1￿ supporL Govemance costs omprise all costs involvlng public accountsbilrty ot the tharity and ts compjrance vAth Tegulation and good pr&¢lice. Support Costs in¢lud6 central I￿n￿lOn$ and have been allwted to actvity cost Catego￿$ on a b88iS consi8lenl ￿ the use of resour￿. eg allocalirrfJ propety costs by areas, or Fer capita. staff osts by the tirnè SF¢nt ar*1 other costs by their u8age. The Cha￿tY is r￿t awarding grant lo any organisation Orants payable vAthout Porfornianc• Cohdltion Where there are condttions attaching to the grant th* enables donor charlty to realistically avoid the commilmenl. a liability for the ￿11 fu￿JIng obligation mtjst be recogni8ed. Redundancy cost The charity made no ￿d￿ndancY payments durrr@ the ￿p(￿l•r￿￿ Ferir*J. Defomid in¢ome No material item of ¢Jeferred incom8 has been I￿V￿j in ￿ aCc￿n￿. Creditors The charity has cxedf(ors vthii*) are measured at settlement amounts fess any trade discounts ProvlsFons for liabilltl A liabllity is measured on recognition al its histOFical co$1 and then subsequenty measured al the best estimate of the amount requir￿ to setle tr* obltgailon at th• reptsrtlt￿ date Basic financlal Instruments The charity accounts for basic finanual instruments on initial recognitton as per paragraph 10.7 FRS 102 SORP. SubseqLWt Measure￿￿1 is as per paragraph$ 11.17 to 11.19. FRS 102 SORP. 2.4 ASSETS Tan9lble fix￿ ass•ts for ug0 by charlty These are capitalised if they can be usgd for morp than one yoar, arbj cost at18a$l They are Vall￿ al cost. The deprèciation rates and methods us&J arn di8closed in note 14. Intanglbl• fix•d assèts The charity has no irtangible fixed assets, that is, I￿r￿MOnetary assets that do not have physical 8ubslance a￿ identrfiable and are controlled by the charity through oJstc¥Jy or *al rpjlts. The 8mortisation rates and methods are disclosed whetE applieatAe. They are Vall￿ at cost. Heritage assets The chartty has no herttage assets, that is, rion-monetary assets wilh historic. artistic, sdentnlq technological, geophysical or envirortrmental qualtties that are h&kl and maintaine