PRO LABORE DEI
FINANCIAL STATEMENTS
31 AUGUST 2023
PRO LABORE DEI
C ONTENT OF THE FINANCIAL STATEMENTS
| Page | |
|---|---|
| Company Information | 1 |
| Directors’ Report | 2 |
| Balance Sheet | 5 |
| Profit and Loss Account | 6 |
| Cash Flow Statement | 7 |
PRO LABORE DEI
COMPANY INFORMATION
| DIRECTOR | Sr. Theresa Aluko |
|---|---|
| SECRETARY | Felicia Savage (Mrs.) |
| REGISTERED OFFICE | 2 Pembroke Avenue |
| Luton | |
| LU4 9BH | |
| COMPANY NUMBER | 04715645 (England and Wales) |
| CHARITY NUMBER | 1103231 |
Page 1
PRO LABORE DEI
DIRECTORS’ REPORT for the Year ended 31 August 2023
The Director presents the report and the financial statements of the Company for the year ended 31 August 2023.
OVERVIEW
Pro Labore Dei (For the Labour of God) is an ecclesial movement under the hierarchy of the Catholic Church. Sr. Stella-Maris founded Pro Labore Dei in 1990 as a response to God's call to "go out into the streets and slum areas where people are suffering and look after the poor." And so she did with only sixty naira in her pocket.
It is now an international non-profitable organization (charity) serving God in the poor. We operate in Africa (Nigeria, Sierra Leone, Togo, Benin Republic, Cameroon, Mali, Malawi, Zambia, Uganda, Rwanda, Botswana, Congo Democratic Republic, Tanzania, and Kenya); United States (Madison, Milwaukee, Chicago, Boston, Atlanta, Utah, Dolan Spring and Las Vegas); United Kingdom (London and Luton), France, Holland, Spain, Canada, Mexico: South America (Ecuador, Peru, and Colombia); Cambodia, Philippines, Australia, and New Zealand.
The figure £204,303.94 (International Mission) being the cost incurred this current Financial Year in keeping all projects going.
With Christ as our model, we endeavor to become the hands, feet, eyes, mouth and ears of our Lord Jesus Christ by bringing God’s loving kindness to His people: the poorest of the poor, the homeless, abandoned orphans, aged poor, widows, lonely, spiritually poor etc. by feeding, clothing, educating, sheltering, or providing vocational training - with the prospect of selfreliant where possible so that our benefactors achieve independence and develop a sense of self worth and dignity.
We also hope to develop within the community at large respect for those who are destitute and a sense of responsibility towards them.
The organization is feeding over 2,000 people a day in the town of Lagos and the other 22 branches where in we are present in Nigeria; West, East and South Africa; North, Central and South America; South Asia; Australia and New Zealand. We continue to operate nursery/primary schools in 4 states in Nigeria, Kenya, Zambia, Cambodia, Benin Republic, Mali, Rwanda and Uganda - providing free educations for children who otherwise will be on the street. We also provide adult education in Cambodia as well as vocational training in Zambia, Uganda, Rwanda, Malawi and Nigeria.
Other Services:
-
We run a day centre for the elderly in Guayaquil Ecuador.
-
We provide homes for abandoned children
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We run mobile health care for those who live in such remote places and cannot get to hospitals or if they could get to one cannot afford the bill.
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We also provide care for the lepers, Mali (Bamako) and various part of Nigeria such as Ugwuoba village (Eastern part of Nigeria), Iwo (Southern part of Nigeria) etc.
We are not a government-funded organization but we are able to do all this through generous donation from people in the society and the Pro Labore Dei Members and Sisters’ products and fund-raising activities.
Page 2
PRO LABORE DEI
PRINCIPAL ACTIVITY
The principal activity of the Company in United Kingdom continued throughout the year. This was the provision of food, clothes and other needs for the homeless. We provided over ten thousand hot meal over the course of the year to the homeless on the street of London. We also provided home visitation services to elderly people and lonely widows as well as provision of once a month night vigil for soul nourishment to those who are spiritually hungry. Counseling was also provided to those in need of it.
Pro Labore Dei UK continued its fund-raising efforts towards the funding of some of our worldwide mission including some of the Pro Labore Dei Schools worldwide till they are able to sustain them self.
FIXED ASSET
Car
The car in use is on a hire purchase contract for three years at £181.00 per month expense.
Gifted Investment of Shares
Pro Labore Dei during 2016 financial year was gifted shares in a private limited company. These shares are being kept by the charity.
FOREIGN EXCHANGE
In the current year the organization continued to operate the dollar account and a Euro account. An average of £1 to $1.3 and £1 to €1.1 was used as the exchange rate for the purpose of this account.
BUSINESS REVIEW
The financial results for the year and the Company’s financial position at year-end are shown in the attached statements.
DIRECTOR
The Director during the year under review was Sr. Theresa Aluko. She is the residing person in the organization’s house used for food preparation, prayer session, counseling, retreats and office.
FUND RAISING/DONATION
The organization will endeavor to cover all administrative cost through raising activity for such sole purpose while all other donation and members’ contribution will be solely use for the purpose which it is given – either to feed the hungry, to sponsor a child, care of the lepers, International mission or any special or one-off project.
TRUSTEE
The trustees continue to provide some of the food served from their homes and was therefore not included as part of the organization cost.
The trustees are: Sr. Theresa, Mrs. Felicia Savage, Stella Ogbolu, and Miss Stella Maris Savage.
Page 3
PRO LABORE DEI
THE ENVIRONMENT
The Company seeks to build upon the progress so far made towards promoting individual and society responsibility towards the less privilege of our world.
STATEMENT OF DIRECTOR’ RESPONSIBILITIES
Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the Directors are required to
(a) For the year ended 31 August 2023 the company was entitled to exemption under section 477 (2) of the Companies Act 2006.
(b) Members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
(c) The directors acknowledge their responsibility for:
i. ensuring the company keeps accounting records which comply with section 386; and
ii. preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year, and of its profit or loss for the financial year, in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company;
ON BEHALF OF THE BOARD
==> picture [152 x 34] intentionally omitted <==
Sr. Theresa Aluko Company Director
28 December 2023
Page 4
PRO LABORE DEI
BALANCE SHEET AS OF 31 AUGUST 2023
2023
| Assets Investment Shares Current Asset Other Debtors Cash at bank & in hand Current Liability Total Asset less current liabilities NET ASSET FINANCED BY: ACCUMULATED FUND B/F Asset Surplus/Deficit ACCUMULATED FUND 31/08/23 |
142,228.48 142,228.48 0.00 2023 |
200.00 200.00 0.00 0.00 0.00 6,581.08 6,581.08 0.00 142,228.48 6,581.08 142,428.48 6,781.08 6,581.08 8,666.36 200.00 200.00 135,647.40 -2,085.28 142,428.48 6,781.08 2022 |
|
| 6,781.08 | |||
| 8,666.36 200.00 -2,085.28 |
|||
| 6,781.08 |
For the year ending 31 August 2023, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
ON BEHALF OF THE BOARD
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………………………….
Sr. Theresa Aluko Director Date: 28 December 2023
Page 5
PRO LABORE DEI
INCOME AND EXPENDITURE ACCOUNT FOR YEAR ENDED 31 AUGUST 2023
| 2023 | 2023 | 2022 | 2022 | |
|---|---|---|---|---|
| FUND RAISING | 73,500.00 | 77,000.00 | ||
| MEMBERS/TRUSTEE CONTRIBUTION | 0.00 | 1,200.00 | ||
| GIFT AID | 60,591.94 | 0.00 | ||
| DONATION | 67,991.68 | 79,794.10 | ||
| HEADQUARTERS FUND | 16,158.47 | 19,611.48 | ||
| DIVIDEND | 155,450.00 | 54,000.00 | ||
| OTHER INCOME | 77.60 | 1,385.36 | ||
| INTEREST RECEIVABLE | 263.61 | 2.38 | ||
| SPONSOR A CHILD | 0.00 | 0.00 | ||
| LESS EXPENDITURE | ||||
| Sponsor a Child | 0.00 | 0.00 | ||
| Client Food | 0.00 | 0.00 | ||
| Sent to Headquarters | 0.00 | 0.00 | ||
| Rent UK | 10,479.71 | 10,708.62 | ||
| Las Vegas Expenses | 8,176.08 | 7,600.30 | ||
| Sierra Leone | 0.00 | 0.00 | ||
| Various International Mission/Projects | 204,303.94 | 201,933.02 | ||
| Electricity & Gas & Water | 1,057.00 | 1,630.00 | ||
| Council Tax | 850.29 | 786.54 | ||
| Telephone/Internet | 1,144.57 | 823.74 | ||
| ADT Security | 579.18 | 527.88 | ||
| Petrol & Parking Ticket | 0.00 | 0.00 | ||
| Mission Expenses | 0.00 | 0.00 | ||
| Insurance | ||||
| Car | 387.83 | 1,144.54 | ||
| Building | 1,565.00 | 1,541.84 | ||
| Sundry Expense | 7,670.30 | 6,293.92 | ||
| Building Work & Car Hire Expense | 2,172.00 | 2,088.20 | ||
| Depreciation of Equipment | 0.00 | 0.00 | ||
| Gain on Disposal | 0.00 | 0.00 | ||
| 238,385.90 | 374,033.30 | 235,078.60 | 232,993.32 | |
| Surplus/Deficit | 135,647.40 | -2,085.28 |
All operations are classed as continuing. There are no recognized gains or losses for the year other than this deficit.
Page 6
PRO LABORE DEI
CASH FLOW STATEMENT FOR YEAR ENDED 31 AUGUST 2023
NET CASH FLOW FROM OPERATING ACTIVITIES
| Operating Profit/Loss Depreciation of tangible fixed assets NET CASH (OUTFLOW)/INFLOW FROM OPERATIONS |
2023 £ 135,647.40 0.00 135,647.40 |
2022 £ -2,085.28 0.00 |
|---|---|---|
| -2,085.28 | ||
| CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023 |
||
| Net Cash flow from operating activities Returns on investments (Decrease)/Increase in cash in the year |
2023 £ -20,143.81 155,791.21 135,647.40 |
2022 £ -57,473.02 55,387.74 |
| -2,085.28 |
ANALYSIS OF CHANGES IN NET FUNDS
| 01-Sep-22 | Cashflow | 31-Aug-23 | |
|---|---|---|---|
| £ | £ | £ | |
| Total Net Cash | |||
| Cash at bank and in hand | 6,581.08 | 135,647.40 | 142,228.48 |
Page 7