Mr S Sarvendran (appointed June 2023)
Bethany Faith Ministries
Report and Accounts Year ended 31 December 2023
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
BETHANY FAITH MINISTRIES
FOR THE YEAR ENDED 31 DECEMBER 2023
LEGAL & ADMINISTRATIVE DETAILS
| Address for correspondence | Address for correspondence | Bethany House |
|---|---|---|
| Park Avenue | ||
| Southall | ||
| UB1 3AJ | ||
| Governing Document | Declaration of Trust dated 26 February 2002 | |
| Trustees | Mr S Balakumar | |
| Dr J M Christy | ||
| Ms J Bastiansz | ||
| Mr S Sarvendran (appointed June 2024) | ||
| Ms E Suresh | ||
| Mr J Suthesh | ||
| Mr T Thanaratnasabapathy | ||
| Key Staff | Rev T M I Sathiyaraj | |
| Rev Suthesh Kularajasingam | ||
| Charity Number | 1092297 | |
| Bankers | NatWest Bank plc | |
| Barclays Bank plc | ||
| Independent Examiner | Ajay Rajani FCIE | |
| Stewardship | ||
| 1 Lambs Passage | ||
| London | ||
| EC1Y 8AB | ||
| INDEX | ||
| Page 1 | Legal & Administrative Details | |
| Pages 2-3 | Trustees' Report | |
| Page 4 | Independent Examiner's Report | |
| Page 5 | Receipts | and Payments Account |
| Page 6 | Statement of Assets & Liabilities | |
| Page 7 | Notes to the Accounts |
Page 1
BETHANY FAITH MINISTRIES
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees have pleasure in submitting the Report and Accounts for the year.
Objects of the charity
The charity's principal charitable objective is to advance the Christian faith. To this end it seeks to demonstrate the Christian faith in action by being a church in the communities of Southall, Kenton, Norwich, Ipswich and West Drayton.
Government
The policy and operating decisions of the charity rest with the trustees who meet regularly to monitor the activities of the Charity. New trustees are appointed by the existing trustees, by majority vote.
Review of Activities
The Church is not a building, but a gathering of ordinary people of different ages and backgrounds, whose lives have been changed by Jesus Christ, the Son of God. The New Testament reveals the Church as a community of people, properly taught and cared for, who by loving and serving Jesus Christ, were also committed to love and care for each other and to bring a blessing to the area in which they live. Bethany Faith Ministries (and its trustees, elders and members) are committed to the restoration of those New Testament principles. It is not alone in this, it is one of many Churches in this country and all over the world that is re-discovering the excitement of knowing Jesus Christ. The vision is to see the people come into this experience of knowing Jesus as their Lord, Saviour and friend.
As a result of Covid-19 and the control measures put into place by the UK government, the church had to adjust to act in accordance with the restrictions. This meant that Sunday services were broadcasted online, and other weekday meetings were also held through zoom as opposed to in person/face-to-face.
During the year, some restrictions were relaxed, and small gatherings were permitted but the church continued to operate online for the greater part of the year.
During the year there has been a demonstration of the Christian faith in action by serving the community in which it operates in the following principal ways:
a) the church organised daily meetings online where individuals can meet, share challenges of living their faith, worship, pray and disciple one another.
b) classes and online meetings have been held to help those new to the area to integrate and be part of their communities, particularly those that are socially or economically disadvantaged.
c) the church has supported those in other countries (particularly in India and Sri Lanka) to teach and preach the Christian faith and help those in need.
d) the church and its members has also aided families in other parts of the world (particularly in India and Sri Lanka) who had been severely impacted by the effects of the pandemic.
e) the members of the church have served in their communities in countless ways, out of the limelight, supporting those less well-off and expressing the love of Christ.
On 23 June 2022 a charitable incorporated organisation ('CIO') with the same name as the charity (the 'Trust') was registered with the Charity Commission and it is anticipated that, in due course, the assets and activities of the Trust will be transferred to the new CIO; the Trust is expected to eventually close. The government introduced CIOs about 10 years ago after recognising that charities were, in many ways unique, and would benefit from a legal structure that had been specifically designed for them.
In planning the activities, the Trustees have applied the guidance on public benefit issued by the Charity Commission.
Page 2
BETHANY FAITH MINISTRIES
REPORT OF THE TRUSTEES continued
Financial Review
During the year income increased by £18,683 to £174,397 and expenditure increased by £22,045 to £186,302. As a result the charity has reported a deficit this year of £11,905 (2022: deficit £8,543) and the charity's cash balances have fallen by this amount to £36,401, of which £17,861 is unrestricted.
The trustees are grateful to the members of the various congregations who have given generously to support the charity's work. Donations from congregations (including gift aid) increased by £33,389 but, unfortunately, the tenant that uses the charity's building fell into financial difficult and stopped paying rent; largely as a result, rental income fell by £12,839.
Expenditure has increased for a variety of reasons. Venues were rented for a full year and the charity spent an extra £6,424 on hall hire. We spent an extra £5,944 on maintaining our building, which included payments for new air conditioning units. Due to increases in interest rates, we spent an extra £5,229 on mortgage payments.
The trustees are monitoring income and expenditure closely and are taking action to ensure that the charity achieves a break even position as soon as possible.
Reserves Policy
The trustees have decided that the charity should aim to hold unrestricted cash of no less than £20,000 so that the charity could continue to operate smoothly should income and / or expenditure vary unexpectedly. The charity ended the year with unrestricted cash of £17,861. This is slightly below the target set by the trustees but nonetheless the trustees are satisfied that the charity can continue to operate smoothly with this level of reserves for the time being. Since the year end the charity's mortgage has been repaid and the charity's cash balances are now slowly increasing.
Risk Statement
The trustees have reviewed the risks to which a small charity operating with few employees is exposed. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis.
Trustees' Responsibilities
Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
This report was approved by the trustees and signed on their behalf by:
JMChristy JMChristy (Jun 11, 2025 13:09 GMT+1) Dr J M Christy
Date: Jun 11, 2025
Page 3
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
BETHANY FAITH MINISTRIES
I report on the accounts of the charity for the year ended 31 December 2023 set out on pages 5 to 7 following.
Responsibilities and basis of report
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records.
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 accounts to be reached.
Ajay Rajani
Ajay Rajani (Jun 11, 2025 15:48 GMT+1)
Ajay Rajani FCIE Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: Jun 11, 2025
Page 4
BETHANY FAITH MINISTRIES
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes Receipts Voluntary income Offerings and gifts Gift aid receipts Other income Rental income Interest received Loans repaid by staff Total Receipts Payments 2 Total Payments Transfers between funds Net Movement in Funds Cash funds as at last year end Cash funds at this year end C Net (payments) / receipts before transfers Payments in relation to charitable activities undertaken by charity Mortgage payments |
Unrestricted General 153,218 1,468 154,686 8,594 422 1,200 164,902 147,839 29,052 176,891 (11,989) - (11,989) 29,849 17,861 |
Restricted Funds 9,494 - 9,494 - - - 9,494 9,411 - 9,411 83 - 83 18,457 18,541 |
2023 £ 162,712 1,468 164,180 8,594 422 1,200 174,397 157,250 29,052 186,302 (11,905) - (11,905) 48,307 36,401 |
2022 £ 130,791 - |
|---|---|---|---|---|
| 130,791 21,433 89 3,400 |
||||
| 155,713 | ||||
| 140,434 23,823 |
||||
| 164,257 | ||||
| (8,543) - |
||||
| (8,543) 56,850 |
||||
| 48,307 |
The notes on page 7 form part of these accounts.
Page 5
BETHANY FAITH MINISTRIES
STATEMENT OF ASSETS & LIABILITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
A. Fixed Assets
| d Assets | |
|---|---|
| Freehold property, namely Bethany House Equipment |
Current Value £ 595,000 15,000 |
| 610,000 |
The freehold building was valued professionally in May 2019 at £595,000 on a 'vacant possession' basis. The trustees have estimated the current value of the charity's equipment.
| B. Mortgage owed Capital balance due |
2023 £ 7,602 |
2022 £ 35,217 |
|---|---|---|
The mortgage loan is secured on the freehold property referred to in note A 'Fixed Assets' and has been repaid fully in 2024.
| C. Bank & Cash Balances Cash at bank and in hand Credit card D. Other Assets & Liabilities Assets Estimate of gift aid recoverable on donations received Staff loan Refunds due Deposit paid for air conditioning units delivered and installed in 2024 Liabilities (due within one year) Preparation and examination of 2021 accounts Preparation and examination of 2022 accounts Preparation and examination of 2023 accounts Other expenses |
2023 £ 37,468 (1,067) 36,401 2023 £ 3,927 3,000 1,320 6,360 14,607 - 1,608 1,608 3,967 7,183 |
2022 £ 48,966 (660) |
|---|---|---|
| 48,307 | ||
| 2022 £ 3,945 4,200 - - |
||
| 8,145 | ||
| 1,608 1,608 - 2,950 |
||
| 6,166 |
Except for Bank and Cash balances (see page 5), the assets and liabilities listed above are all attributable to unrestricted funds.
The accounts were approved by the trustees and signed on their behalf by:
JMChristy JMChristy (Jun 11, 2025 13:09 GMT+1)
Jun 11, 2025
____ _____ Dr J M Christy Date:
The notes on page 7 form part of these accounts
Page 6
BETHANY FAITH MINISTRIES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1. Accounting Policies
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
2. Payments in relation to charitable activities undertaken directly
| Employment costs Hall hire Evangelism and hospitality Travel Visiting speakers Gifts and grants Senior Citizens Communications Media and website Equipment Utilities Property repairs and renewals Administrative expenses Training Insurance Professional and legal fees Independent examiner's fees for preparing and examining the accounts |
General Funds £ 64,538 24,867 9,138 10,090 4,231 - - 5,425 2,018 3,293 4,710 6,155 8,096 2,280 1,389 - 1,608 147,839 |
Restricted Funds £ - - - - - 3,061 350 - - - - 6,000 - - - - - 9,411 |
Total 2023 £ 64,538 24,867 9,138 10,090 4,231 3,061 350 5,425 2,018 3,293 4,710 12,155 8,096 2,280 1,389 - 1,608 157,250 |
Total 2022 £ 63,752 18,443 10,405 10,763 2,246 1,060 300 6,878 2,449 2,483 3,266 6,211 6,020 246 1,240 1,072 3,600 |
|---|---|---|---|---|
| 140,434 |
3. Movements On Restricted Funds
The restricted funds represent amounts received for specific purposes and the movements in the year are as follows:
| Building fund Overseas mission and relief fund Senior Citizens fund Community outreach fund |
Balance at 1 Jan 2023 £ 150 12,743 3,064 2,500 18,457 |
Receipts £ 6,084 3,315 95 - 9,494 |
Payments £ (6,000) (3,061) (350) - (9,411) |
Transfers £ - - - - - |
Balance at 31 Dec 2023 £ 234 12,998 2,809 2,500 |
|---|---|---|---|---|---|
| 18,541 |
Page 7