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← Jubilee Harvest Church

2024-02-29-accounts

Company No. 04367325

Charity No.1096674

Jubilee Harvest Church Trustees Report and Financial Statements For the year ended 29 February 2024

Jubilee Harvest Church

Information

For the Year Ended 29 February 2024

Trustees: Mr Frank Kwesi Dadzie Aikins
Mr Frederick Okine Danso
Miss Dora Mfodwaa
Mrs Nancy Haizel
Mr Kingsley Obiri-Yeboah
Registered Office: 30 Sedgehill Road
Catford
London
SE6 3QT
Charity number: 1096674
Company Number: 4367325
Accountants:
Rocksons Chartered Certified Accountants
Suite 8
Stewart House
56 Longbridge Road
Barking
Essex
IG11 8RW

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Jubilee Harvest Church

Contents For the Year Ended 29 February 2024

Table of Contents

Trustees ' Report ........................................................................................................................... 4 Independent Examiner's Report ....................................................................................................... 6 Statement of Financial Activities ...................................................................................................... 7 Balance Sheet .................................................................................................................................. 9 Notes to the Accounts .................................................................................................................... 11

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Jubilee Harvest Church

Trustees' Report For the Year Ended 29 February 2024

Aims and objectives

The principal objects of the charity are to advance Christianity enabling as many people as possible to worship at our church and to become part of our Christian community in South London."When planning our activities for the year, we have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. We encourage ordinary people to live out their faith as part of our Christian community through:

Summary of the main achievements during the period

Worship & Prayer:

Jubilee Harvest as a ministry has continued to give worship and prayer to members. We have programmes during weekdays and weekends. Prayers are also offered through home cell or house groups where the focus is on individual needs. This system of approach has in our opinion brought a lot of spiritual and social benefit to the community. The Worship Ministry of the church has the vision of focusing first on God and secondly on serving the needs of the local congregation. We seek to combine different talents in the church in vibrant worship services, concerts and special events. Our mission is to reach the unreached, the youth, the locals and the entire community.

Pastoral Care:

The trustees have ensured that every member of Jubilee Harvest has been attended to throughout the year. Jubilee Harvest has a six-member strong pastoral team that ensures that counselling and moral guidance is rolled out effectively. Pastoral care is given under the strums of counselling career and education. Teaching programmes are scheduled throughout the year in partnership with other ministries in the community. Members of Jubilee Harvest are encouraged to contact the pastoral teams should they need any help.

Mission & Evangelism:

We continue to cultivate as part of our ministry, a mission of helping the needy. This we term “Jubilee Mission” we endeavour to help locally and internationally. We have continued to help people in UK with their different needs e.g. food and gas in the house as well as transport costs in looking for employment.

The charity's policy on reserves

We aim to build up reserves in order to be prepared for unforeseen expenses. We would like to hold 3 months running expenses in reserves.

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Jubilee Harvest Church

Exemptions

The trustees have taken advantage of the exemptions available to small companies, including the audit exemption (see statement on balance sheet)

Financial review during the year

The total incoming resources of the church during the year amounted to £75,555 (2023 £69,612). Of this total £63,109 (2023 £56,843) was derived from general tithes and offering from members and £12,156 (2023 £12,721) from gift aided tax refunds. Bank interest received amounted to £290, (2023 £48)

Total resources expended in the year amounted to £80,042 (2023 £83,900) leaving a net deficit of £4,487 (2023 deficit £14,288). The accumulated fund shows a reserve of £35,056.

Statement of financial responsibilities of the trustees

Law applicable to charities in England and Wales requires the trustees as managing trustees to prepare financial statements for each financial year. In preparing those financial statements, the trustees should follow best practices and;

The Board of Trustees is responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the church and to enable them to ensure that the financial statements comply with the Charities Act 1993 and the Charities (Accounts and Reports) Regulation 1995. They are also responsible for safeguarding the assets of the church.

Signed on behalf of the charity's trustees:

Mr Frederick Okine Danso

Date: 25 February 2025

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Jubilee Harvest Church

Independent Examiner's Report For the Year Ended 29 February 2024

I report on the accounts for the year ended 28 February 2023 which are set out on pages 7 to11

Respective responsibilities of trustees and examiner

The charity's trustees consider that an audit is not required for this year (under section 43(2) to the Charities Act 1993 (the Act) and that an independent examination is needed.

Basis of independent examiner's report

My examination was carried out in accordance with 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 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' view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In the course of my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 41 of the Act; and

  3. to prepare accounts which accord with the accounting records and comply with the - accounting requirements of the 1993 Act; has not been met; or

  4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached

Mr Alexander R Kludje MBA FCCA

Signature: Date: 25 February 2025 Rocksons Chartered Certified Accountants

Suite 8 Stewart House 56 Longbridge Road Barking, Essex IG11 8RW

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Jubilee Harvest Church

Statement of Financial Activities (including Income and Expenditure Account) For the Year Ended 29 February 2024

Notes Unrestricted
funds		 Restricted funds Year ended
29/02/24		 Year ended
28/02/23
Total Total
funds funds
£ £ £ £
INCOMING RESOURCES
Incoming resources from generated
funds
Voluntary income: 1
Tithes & Offerings 63,109 63,109 56,843
Tax Refund 12,156 12,156 12,721
Activities for generating funds:
Investment income 290 290 48
Other incoming resources 0 0 0
Incoming resources from charitable
activities: - -
Total incoming resources 75,555 75,555 69,612
RESOURCES EXPENDED
Charitable activities: 2 78,222 78,222 82,200
Governance costs 3 1,820 1,820 1,700
Total resources expended 80,042 - 80,042 83,900
Net incoming/(outgoing) resources (4,487) (4,487) (14,288)
Transfers between funds - - -

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Jubilee Harvest Church
Net movement in funds 4 (4,487) - (4,487) (14,288)
Reconciliation of funds:
Total funds brought forward 39,543 - 39,543 53,831
Total funds carried forward 35,056 - 35,056 39,543

There were no recognised gains or losses for the period other than those included in the Statement of Financial Activities The notes on pages 9 to11 form part of these accounts

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Jubilee Harvest Church

Balance Sheet

For the Year Ended 29 February 2024

Notes
Fixed assets
Tangible assets
5
Current assets
Total current assets
Creditors: Amounts falling due within one year
6
Net current assets
Total assets less current liabilities
Unrestricted funds
General funds
7
Designated funds
Restricted funds
7
Total funds
2024
2023
£
£

5,022
6,809
5,022
6,809
42,807
45,216
45,216
45,216

(12,773)
(12,482)
30,034
32,734
35,056
39,543

35,056
39,831
-
-
35,056
39,543

-
-
35,056
39,543

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Jubilee Harvest Church

The accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2008 relating to small companies. Approved by the board of trustees on 25 February 2025 and signed on their behalf by:

Mr Frederick Okine Danso

(On behalf of board of Trustees)

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Jubilee Harvest Church

Notes to the Accounts For the Year Ended 29 February 2024

1. Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

Basis of accounting

The accounts have been prepared under the historical cost convention and in accordance with the latest Statement of Recommended Practice (SORP) for charities and the Financial Reporting Standard for Smaller Entities (effective Jan 2008) and include the results of the church's operations as indicated in the trustees’ report, all of which are continuing.

1.1 Incoming Resources:

Building Fund

Incomes from donations for building are included in incoming resources of restricted funds on receipts

Tithes and offerings

Income from tithes and offering is included in incoming resources when these are receivable

Investment income

Investment incomes consist of net interest received during the year and accounted for as unrestricted fund.

The charity has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirements to produce cash flow statements on the grounds that it qualifies as a small charity

1.2 Resources expended

All expenditure is accounted for on and accruals basis and is inclusive of VAT.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and includes accountancy fees and costs linked to the strategic management of the charity. Governance costs which cannot be allocated directly are apportioned on an appropriate basis.

1.3 Fixed assets

Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at the rates calculated to write off the cost of each asset less its estimated useful life as follows:

Equipments, fixtures fittings - 25% per annum

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Jubilee Harvest Church

  1. Charity activities
Direct cost of charitable activities:
Wages and salaries
Employer's NI contribution & other payments to HMRC
Pension Contributions
Honorarium
Evangelism and missions
Welfare and Support
Rent Payable
Books, Training & Music
Computer Expenses
Subscriptions
Insurance
Sundry Expenses
Charitable and other Donations
Depreciation on fixtures & Equipments		 Total
Total
Unrestricted
Restricted
Year ended
29/03/24
Year ended
28/02/23
£
£
£
£
17,434
-
17,434
17,436
1,151
-
1,151
1,285
336
336
1,938
13,250
-
13,250
14,065
4,936
-
4,936
6,316
7,820
-
7,820
4,551
16,760
16,760
16,149
10,050
10,050
12,410
1,799
1,799
628
1,692
1,692
2,552
208
208
0
1000
1,000
1,692
0
0
740
1,786
1,786
2,438
78,222
-
78,222
82,200

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Legal and professional
Accountancy		 2024
2023
£
£
£
720
720
650
1,100
1,100
1,050
1,820
1,820
1,700

There was no staff cost and emoluments, no employee earned £60,000 or more per annum. The trustees received no remuneration and no expenses reimbursed to trustees in the year

4. Net movement in funds for the year

This is stated after charging:
Depreciation
Accountancy fees		 Year ended
29/02/24
Year ended
28/02/23
£
£
1,786
2,438
1,100
1,050
2,886
3,488

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Jubilee Harvest Church 5. Tangible fixed assets

Cost
At 1 March 2023
Additions
Disposals
At 29 February 2024
Depreciation
At 1 March 2023
On disposals
Charge for the period
At 29 February 2024
Net Book Value At 29 February 2024
Net Book Value At 28 February 2023		 Church
Computer
Equipment
Equipment
Year
ended
29/02/24
Year
ended
29/02/24
Totals
£
£
42,776
7,141
49,907
0
0
0
0
0
0
42,766
7,141
49,907
(37,009)
(6,089)
(43,098)
-
-
-
(1,440)
(347_)_
(1,787)
(38,449)
(6,436)
(44,885)
4,317
705
5,022
5,757
1,052
6,809

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Jubilee Harvest Church

PAYE & Social Security Cost
Wages and Salaries
Pensions
Accrued Expenses		 Year
ended
29/02/24
Year
ended
28/02/23
£
£
11,686
11,256
(461)
(263)
39
289
1,509
1,201
12,773
12,482

Unrestricted funds Restricted

Fixed
Assets Current Total
Asset
less
Liability 2024
£ £ £
5,022 30,034 35,056
5,022 30.034 35,056

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