2024-03-31-accounts - Only Believe Christian Assembly

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

Trustees Annual Report

Year ending 31 March 2024

ONLY BELIEVE CHRISTIAN ASSEMBLY LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2024

Address for Correspondence

Address for Correspondence 29 Lambeth Walk London SE11 6DU Governing Document Declaration of Trust dated 5 February 2004 Charity Registration Number 1104080 Trustees Responsible for Archibald Harold-Brown Managing the Charity Kingston Koraheng Christian Dadson Jesse Harold-Brown Isaac Anoff-Afiakwa Thomas Dadson Emmanuel Yaboi Amugi Bankers Charities Aid Foundation (CAF) Metro Bank Independent Examiner Lily Anoff-Afiakwa, MAAT LBI Accountancy & PA Services 32 Thomas Rider Way Maidstone ME17 4GA

INDEX

Legal & Administrative Information Page 3 Trustees’ Report Pages 4-5 Independent Examiner’s Report Page 6 Receipts and Payments Account Page 7 Statement of Assets & Liabilities Page 8 Notes to the Accounts Pages 9-11

2 © Only Believe Christian Assembly, London, United Kingdom - | Charity number: 1104080 | trustees@obca.org.uk

ONLY BELIEVE CHRISTIAN ASSEMBLY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Introduction

The Trustees present the report of the Only Believe Christian Assembly (OBCA) in line with the Charity’s Trust Deed, and the Charity Commission for England and Wales reporting requirements.

Our mission, performance and achievements for the year to 31 March 2024 are hereby reported.

About Us

OBCA is founded on the teachings and doctrines of the Holy Bible as taught by Reverend William Marrion Branham. We firmly believe that the Ministry of this Prophet-Messenger is a fulfilment of the Biblical prophecy in Malachi chapter 4:5-6.

Our stand for the Word of God, and practice of The Christian Faith is rooted in five principles (“our pillars”) as adopted by the Church. These are;

1) Malachi 4:5-6; Rev. William M. Branham - our absolute on the interpretation of Scripture
2) The Supernatural
3) Sovereignty of the local Church
4) Brotherhood
5) Vision

Our Legal & Reporting Framework

OBCA is a Christian Church. We are registered as a Charity with the Charity Commission for England and Wales in accordance with the consolidated Charities Act, 2011.

The Annual Report and the accompanying Receipt and Payment accounts comply with applicable UK law and the requirements of the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities".

Our Mission

Our primary goal is to win souls for the Kingdom of God, and to provide a spiritual platform to prepare God’s people for the soon second coming of the Lord Jesus Christ as promised in 1 Thessalonians 4:16-18. We believe and practice the sovereignty of the local Church in accordance with the Apostolic doctrine of the Holy Bible.

Governance & Management

OBCA is governed by a Board of Trustees in line with our by-laws and UK Charity law. Trustees are elected to serve a one-year term. Elections are held at the beginning of each calendar year to re-elect serving members or to vote newly nominated officers to the Board. The vote of the General Assembly follows recommendation and vetting of candidates by the Board of Officers.

The Trustees govern the administration of the Charity as a business group. They have a responsibility to safeguard the Church from indebtedness, manage expenditure and undertake fund-raising investments in consultation with the Ministry of the Church. The Ministry appoints ushers, the music director, the song leader and other ‘helps and governments’ for the day-to-day running of the Charity.

3 © Only Believe Christian Assembly, London, United Kingdom - | Charity number: 1104080 | trustees@obca.org.uk

Programmes & Activities

The programmes and activities of OBCA are designed to further our primary mission of winning souls for the Kingdom of God. We welcome people from all communities to hear the Gospel, experience the Love of God, and be ready for the soon coming of the Lord. We pursue these goals by the preaching of God’s Word, holding praise and worship services, prayer meetings, Bible study and prayer retreats, outreach programmes, children’s Sunday school and youth-oriented activities.

Our calendar of weekly and monthly activities are as follows:

Sunday Worship Service	10:30am - 3:00pm
Friday Prayer Meeting	8:00pm - 10:00pm
Communion Service (first Sunday of the month)	1:00pm - 5:00pm
Youth Talk (once a month, Sunday after main service)	3:00pm - 3:45pm
Annual Retreat (High Leigh Conference Centre)	July-Aug - summer holiday

All activities take place at the ROSE Community Clubroom, 22 Ascalon Street, Vauxhall, London SW8 4JD, UK.

All are welcome.

For any enquiries, the trustees can be contacted by email on: trustees@obca.org.uk

Public Benefit Responsibility

Our programmes and activities are carried out in line with the Charity Commission public benefit guidance, and the Charity’s Trust Deed to benefit the local community and the public.

Performance & Achievements

We continue to broadcast our Sunday and Friday services online to benefit not only our members but a global audience of Christian friends who have become regular users of our services via online access.

The use of new technologies has enhanced our board and departmental meetings and interactions during the year both in-person and online in the pursuit of our activities. This flexible model of working brought about significant time savings, efficiency and improvement in the overall performance of the Charity.

Sunday School (Children & Young People Classes)

Our Sunday School department continued to thrive during the year under the able leadership of the Superintendent and a dedicated team of volunteering teachers. Feedback from the children, as well as parents was very positive. The children maintained the high level of discipline seen in previous years, and a deeper desire to study the Word of God. The parents continued to work collaboratively with the teachers to ensure good attendance, and to assist the children with homework on weekly basis. Our class transition arrangements also continued during the year. New children joined the class of 3-6 years, some pupils moved to the class of 7-11 years while young people who turned 18 from the class of 12-17 years graduated to join the Adult Sunday School.

4 © Only Believe Christian Assembly, London, United Kingdom - | Charity number: 1104080 | trustees@obca.org.uk

Logistics, Equipment & Production Teams

The collaborative work of our technical teams continued to provide the platform for the smooth running of our Church services during the year. This vital work ensured the online streaming of our services on Fridays and Sundays continued without any interruptions. The online broadcast of our services continued to reach a growing audience of believers around the world, in addition to the members of the church. Our online streaming has become an important tool in the evangelistic mission of the church to spread the Gospel of Jesus Christ to the world.

The Ministry and Board of Trustees are grateful to our dedicated technical teams, ushers, helps and governments for their selfless and exemplary contributions to the work of the Charity during the year.

Financial Review

At the year-end 31 March 2024, total income was at £97,055 compared to £566,295 at the prior year. The income difference was the result of a fund-raising event in the previous year to boost the Charity’s building fund as part on ongoing effort to purchase a dedicated place of worship. This was a onetime event, and the Charity does not consider it as part of its annual activities. The Chairty therefore maintains its receipts and payments accounting obligations. Expenditure at year-end was £63,722., a decrease of £12,905 from previous year. As a result, the Charity’s cash balance increased by £36,358 to £697,059 of which £41,232 is unrestricted funds. Unrestricted funds are used to further the charitable objectives of the Charity at the direction of the Trustees.

Reserves Policy

The trustees have determined to hold unrestricted cash reserves of no less than £10,000 at any given time. This amount represents three months of unrestricted expenditure and ensures the charity can continue to operate should income and / or expenditure vary adversely. At the year end, the charity held unrestricted cash balance of £41,232.

Risk Statement

The charity is exposed to various risks consistent with the work of charities. The trustees review the charity’s activities on a regular basis to identify any significant risks, and to take appropriate, timely measures to mitigate such risks, where present.

Going Concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources, in line with its reserves policy to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements

5 © Only Believe Christian Assembly, London, United Kingdom - | Charity number: 1104080 | trustees@obca.org.uk

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF ONLY BELIEVE CHRISTIAN ASSEMBLY

I report to the trustees on my examination of the accounts of the Only Believe Christian Assembly (“the charity”) for the year ended 31 March 2024.

Responsibilities & Basis of Report

As the charity trustees of the Trust 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 2011 Act. 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 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 to enable a proper understanding of the accounts to be reached.

…………………………………….

Lily Anoff-Afiakwa, MAAT. (Independent Examiner)

LBI Accountancy & PA Services Ltd 18/01/2025

6 © Only Believe Christian Assembly, London, United Kingdom - | Charity number: 1104080 | trustees@obca.org.uk

ONLY BELIEVE CHRISTIAN ASSEMBLY

RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024

Notes Receipts Donations & Other Receipts A.1 Total Receipts Payments Charitable activities A.2 Total Expenditure Net inflow/outflow of funds Funds brought forward 01/04/2023 Funds carried forward@31/03/2024	Unrestricted Funds £ 44,619 44,619 34,437 34,437 10,182 31,050 41,232	Restricted Funds £ 52,436 52,436 29,285 29,285 23,151 632,675 655,827	2024 £ 97,055 97,055 63,722 63,722 33,333 663,725 697,059	2023 £
				566,295
				566,295
				76,627
				76,627
				489,668 171,033
				660,701

All amounts relate to continuing activities and have been rounded to the nearest pound {£}. The notes on pages 9 to 11 form part of these accounts.

7 © Only Believe Christian Assembly, London, United Kingdom - | Charity number: 1104080 | trustees@obca.org.uk

ONLY BELIEVE CHRISTIAN ASSEMBLY STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31 MARCH 2024

B1 Cash Funds Cash at Bank Petty Cash Current Account – General Savings account – Outreach Building Fund Account B2 Liabilities Church Building Fund B3 Assets retained for charity's own use Lapel Microphone Henry Vacuum Cleaner Speaker Stands Equipment Rack & Mounting Station 1 Equipment Rack & Mounting Station 2 Bluetooth Audio Receiver HDMI Wireless Transmitter & Receiver Camera Chairs	Unrestricted Funds £ 1,946 37,382 - - 39,328 - -	Restricted Funds £ - - 22,925 634,806 657,730 625,157 625,157	2024 £
			1,946 37,382 22,925 634,806
			697,059
			625,157
			625,157
			£ 798 180 335 478 118 130 170 2,100 752
			5,060

ONLY BELIEVE CHRISTIAN ASSEMBLEY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Accounting Policies

The accounts have been prepared on a receipts and payments basis and comprised a statement that shows the charity’s receipts and payments, a statement that summarises the charity’s assets and liabilities and related notes. These have been prepared to comply with the Charity's governing document; the ‘Trust Deed’, applicable U.K law and the requirements of the Statement of Recommended Practice, ‘Accounting and Reporting by Charities’ and the Charities Act of 1993.

Receipt & Payment Accounting

Revenue Recognition:

Under the receipt basis, revenue is recognised when actual cash is received. This means income is recorded only when the cash/donations or freewill offerings are collected.

Expense Recognition:

Expenses are recognised when payments are made, not necessarily when the goods or services are received. This focuses on actual cash movements and aligns to the principle of recognising transactions when they affect cash flow.

General funds are unrestricted 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 freewill cash receipts for the charities outreach activities and building fund donations received from fund-raising projects for the purchase of a property for the charity.

Adjustments to Prior Year Balances

Building fund donations are now recorded in the Receipts and Payments account and recognised and classified under the Statement of Assets and Liabilities. Consequently, prior year (2023) balances relating to building fund donations and receipts have been adjusted in the Receipts and Payments account and presented under the Statement of Assets and Liabilities in this year’s report. Although the building fund is ring-fenced and restricted for the purpose of purchasing a property to serve as a place of worship for the Charity, these donations are recognised as cash receipts until the property has been purchased.

The Charity continues to receive freewill donations towards its building fund. During the financial year ending 31st March 2024, the Charity received a total of £5,612 in building fund donations. Additionally, £6,451 was earned as interest income on the building fund account between 1st April 2023 and 31st March 2024. Both the donations and the interest income have been recorded in the Receipts and Payments account and reflected in the Statement of Assets and Liabilities.

Receipts: A.1 Donations & Other receipts Freewill Offering General Donations Building Fund Donations Outreach Event Receipts Interest Income Payments: A.2 Charitable Activities Bank Fees Entertainment General Expenses Donations IT Software and Consumables Rent Repairs and Maintenance Equipment and Supplies Subscriptions Telephone & Internet Travel expenses Outreach event payments		Unrestricted Funds £ 43,318 1,235 - - 66 44,619 Unrestricted Funds £ 277 2,883 2,451 8,485 1,523 11,930 290 5,990 178 419 11 - 34,437		Restricted Funds £ - - 5,612 39,973 6,851 52,436 Restricted Funds £ 74 - - - - - - - - - - 29,211 29,285		2024 £ 43,318 1,235 5,612 39,973 6,917	2023 £
							41,722 2,067 495,746 25,326 1,435
						97,055 2024 £ 351 2,883 2,451 8,485 1,523 11,930 290 5,990 178 419 11 29,211 63,722	566,295
							2023 £ 221 2,682 658 8,395 223 16,246 12,788 3,984 89 420 2,211 28,710 76,627

Additional Information

Remuneration

The Trustees received no remuneration for their services to the charity during the year.

Approval of Accounts

The Trustees of the Only Believe Christian Assembly acknowledge their responsibility for;

ensuring that, the charity keeps account records consistent with its day-to-day activities,
preparing accounts which, in their opinion, give a true and fair view of its activities as of 31 March 2024 in compliance with applicable U.K. law for small and medium charities.

Having acknowledged the above, the combined Trustees’ Annual Report of achievements, performance, and Accounts of the Charity for the reporting period to 31 March 2024 was approved by the Board of Trustees at its general meeting on the 23/01/2025 and signed on its behalf by:

……………………………………………………….

………………………………………

Rev. Archibald Harold-Brown (Chair)

Br. Christian Dadson (Co-Chair)