Registered number: 11686396 Charity Registration number: 1104286 ## **GOODNEWS BIBLE CHURCH LTD TRUSTEE'S REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2020** Kumi Link Services Suite 115 176 South Street Romford RM1 1BW **Goodnews Bible Church Ltd Director's Report and Unaudited Financial Statements For The Year Ended 30 November 2020** |Contents|| |---|---| ||Page| |Company Information|1| |Trustee’sReport|2| |Accountant's Report|3| |Income Statement|4| |Statement of Comprehensive Income|5| |Statement of Financial Position|6| |Notes to the Financial Statements|7| |The following pages do not form part of the statutory accounts:|| |Trading Income Statement|8| **Goodnews Bible Church Ltd Company Information For The Year Ended 30 November 2020** |Director|Mrs Maria Amadi| |---|---| |Company Number|11686396| |Registered Office|29 Valerian Way 29 Valerian Way| ||Leighton Buzzard| ||Bedfordshire| ||LU7 4EL| |Accountants|Kumi Link Services| ||Suite 115| ||176 South Street| ||Romford| ||Essex| ||RM1 1BW| GOOd￿wS Bible Church Company No. 11686396 TTUStees Report For the year Ended 30 November 2020 STRucfuRE, GOVERNANCE AND MANAGEMENT Registered Company nUM￿r 11686396 (England and Wales) Registered Charity nuniber 1104286 Registered Office 29 Valerian Way Lelghton buzzard Bedfordshire LU7 4EL Worship Centre 2ttd Floor 4 Westtnoreland Hou8e rubs Lane London NWIO 6RE Independent Examiner George Osei Senior Tax Accounting Consultant ACMA, CGMA, CIPFA Kumi Link Services Suite 115 176 South Street Romfora Essex RMI IBW Bankers Barclays Bank I Churchill Pla Canary Wharf London E14 5HP Trustees MT Adedapo Oshinowo (Chairnwi of Trustees) Ms Elaine Jones Mrs Maria Amadi Drivers Retired Nurse I￿gaI Adviser Charity Secretary Dinesh Kowlessur Manager Care Home Goodnew6 Bible Chureh Company No. 11686396 Trnstees Report For the year ended ￿ November 2020 STRucfuRE, GOVERNANCE AND MANAGEMENT London Central Executive Conunittee Apostle George Amadi Senior Pastor / Founder Postal Address: 2ttd Floor unit 4 Westmoreland House Scrubs Lane London N￿0 6RE Pastor Thika Amadi Resident Pastor & Executive Pastor Emmanuel Samuel Assistant Resident Pastor & Executive Pastor Dinesh Kowlessur Pastoral Team & Executive Gre￿ena Toussaint Treasurer & Executive Pastor Dapo Oshinowo Pastoral & Executive Pastor Dave Muckoon Executive E mail address.. Website: www. oodnewsniinistriesintl oodnewschurth.net ahoo.co.uk Goodnews Bxble Church Company No. 11686396 Tr￿tee$ Report For the year ended 30 November 2020 STRucfuRE, GOVERNANCE AND MANAGEMENr The Trustees and Director of the Charity for the purposes of the Company Act 2006, presents their report with the financial statements of the tharity for the year ended 30 November 2020. The trustees have adopted the provisions of Accounting and reporting by Charities: Statement of Reconunended14actice applicable to charities PTeparing their accounts in according with the Financial Reporting StandaTd appIicable in the UK and Republic of Ireland (FRS 102) (effeetive I January 2015). Governing document The charity is controlled by its governing ducument, and constitutes a Itmited company limited by guarantee, as defined by the Companies Act 2(Ki6. Recruitment and appointment of new trustees The trustees are trustees for the purpose of the Charities art 1993 and are director under the Companies Act 1985 and the constiiution provides guideline on Trustee recruitment and appointntrnt. There must Ee at Least thr￿ at any given tin￿ and up to seven T￿￿tee8. some can be non members of the charity. Goodnews Bible churc￿ London currently has three Tru8tee8. The Trustee$ norn￿llY holds at least 3 meeting8 a year and carry out their assignments a8 detailed in the charity governing document. The Tru8teos from time to time review their effectivene88 and competency. New members are provided wAth induction. Organlzotlonalstrurture The day to day runnlng of the charity is vested on the Senior Pastor and supported by the admin team as stlpulated by the governlng document wlth the support of the Executive Committee. The Committee meets regularly to plan programs and recelve updates of the affalrs of the charlty. Branches and Network Goodnews Bible Church founded by the current Senior Pastor Started in Africa and has its African headquarter in Abuja and 3 other branches and a new one soon to kick off. The Charity also has a branch in Malawi and an orphanage it supports. The Charity al80 recentIy started a new branch in Jamaica and is in its inception stage in Ethiopia. GBC is also linked to Home for the Needy Foundation- an home to orphans and widows displaced by Boko Haram Insurgents terrorxst organization in Nigeria. GBC is a Tesistered member of Churches in Community. Loo41 Communlty Initiatives L(Kally, GBC works closely with Family Mediation Centre Ltd whAch 8UPPOrts Children and y(nmg people and Parents in Need a$ well as providing advocacy for vulnerable parents going through a)ild Protection and Safeguarding issues and parenting skills trainxng. GBC is heavÈly Anvolved in her local community by providxng mentorins to those coming out of prisorn those battling addiction and loneliness. Through the Common kitrhen GBC anonymously supports families with groc￿les and toiletries. Goodnews Bible Church Company No. 11686396 Trustees Report For the year endea 30 NovembeT 2020 Otyertlves ondActlvltles In keepin8 With the governing documents of GBC throughout 2020 under revlew we contlnued to advance our Chrlstlan falth through street Out￿acheS where permltted due to COVID19 restrictions, we held several face to face and onllne personal development programs for our members and the wider community which d￿W audlence5 from oversea5 countries such as India. Mavrltlus, Ghana, Nigeria, UAE, Kenya. Scotland, USA, Canada, Jamaica, Caribbean, Uganda, Tanzania etc. Due to the untold hardship that followed Covid19 and lockdowns we were able to lead enormous support to our members, wider community, branches and associated bodies almed at relievlng of flnancial hardshlp and slckness as well as educatlon. We a150 Started a football club in one of our branches to engage unemployed members of the church. We provided small grants to the sick as well as through the family mediation centre provided advlce and informatlon on Covld19 and mental health wellbelng and bereavements. We celebrated members, blrthdays, weddlngs and annlversarles and new blrths We hosted online and face to face discipleship, marriagei women. and youth and men empowerment programs open to our local communities most delivered by our own Senior or resident Pastors and visilin8 speakers and preacher8. Our SenioT Pastor cattied out pastoral visits and rnissionary visits to our different branches as well as engaged in personal development progran￿. Voluntee Due to Covid19 our members were encouraged to carry Out voluntary vir￿aL outreathes and befriending of the elderly and vulnerable in our community through phone call$ and 7.(x)m meetings where necessary as well as coordinating group activities while our Resident Pastor and her assistant caLTied out most of the adtninistrative re8ponsibxlAties. Internal and external factors internal GBC has excellent teaching facilities for adults, youths and children mostly members children. The environment is conducive. safe, and of good standards of cleanjiness. The Facilities are suitable for events and functions. As at Novem1￿ 2020, GBC had no paid Staff but this has changed hom April 2021 with our Senior Pastor ￿]ng on full time. The principal funding source of GBC is Currently through voluntary donations from member8- tithes and offerings and gift aid which were maintained throughout the year. The resident Fastor also successfully pursued aggressive covid19 related funding from the local authority. Other sources are through one-off voluntary donations for a specific project. We also generate income from Tental of (Trur hall and equipment to a sister church. Our business plan considers other sources of income from charges for the use of facilities and servI￿s. Resenje Poliry GBC has reserve policy aimed at investing into buying a place of worship in the nearest further given that we are leasing our place of worship at the moment. Future policy GBC immediate policy is to establish a more stronger community based Mentoring group foT drug addicts and offenders To expand OUT Common kitchen initiative Adedapo oshinowo Trustee (Chairman) Approved by order of the board of trustees m 2021 and stgned on Ét5 IEhaJf by: Mr AdLdapo Oshinowo~ Chairman of TrnsteeB 2510812021 **Goodnews Bible Church Ltd Independent Examiner’s Report For The Year Ended 30 November 2020** I report on the accounts for the year ended 30 November 2020. ## Respective responsibilities of trustees and examiner The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: - examine the accounts under Section 145 of the 2011 Act - to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and - to state whether particular matters have come to my attention. ## Basis of the independent examiner's 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 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 statements below. ## Independent examiner's statement In connection with my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) have not been met; or 2. To which, in my opinion should be drawn in order to enable a proper understanding of the accounts to be reached. George Osei ACMA/CGMA 25/08/2021 Kumi Link Services Suite 115 176 South Street Romford Essex RM1 1BW ## **Goodnews Bible Church Ltd Income Statement For The Year Ended 30 November 2020** |Notes
TURNOVER
GROSS PROFIT
Administrative expenses
OPERATING (LOSS)/PROFIT AND (LOSS)/PROFIT FOR THE FINANCIAL YEAR|2020
£
108,777
108,777
(128,273 )
(19,496 )|2019
£
48,921| |---|---|---| |||48,921
(45,881 )| |||3,040| The notes on page 7 form part of these financial statements. **Goodnews Bible Church Ltd Statement of Comprehensive Income For The Year Ended 30 November 2020** |(Loss)/profit for the financial year
Other comprehensive income for the year
Total comprehensive income for the year|2020
£
(19,496 )
-
(19,496 )|2019
£
3,040| |---|---|---| |||-| |||3,040| **Goodnews Bible Church Ltd Statement of Financial Position As at 30 November 2020** |Notes
3
4
5
CURRENT ASSETS
Debtors
Cash at bank and in hand
Creditors: Amounts Falling Due Within One Year
NET CURRENT ASSETS (LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
Creditors: Amounts Falling Due After More Than One Year
NET (LIABILITIES)/ASSETS
Income and Expenditure Accounts
MEMBER'S FUND|2020
£
£
4,530
33,794
38,324
(600 )
37,724
37,724
(50,000 )
(12,276 )
(12,276 )
(12,276)|2020
£
£
4,530
33,794
38,324
(600 )
37,724
37,724
(50,000 )
(12,276 )
(12,276 )
(12,276)|2019
£
£
4,530
3,140
7,670
(450 )

7,220

7,220

-

7,220

7,220

7,220|2019
£
£
4,530
3,140
7,670
(450 )

7,220

7,220

-

7,220

7,220

7,220| |---|---|---|---|---| ||38,324
(600 )||7,670
(450 )|| ||||




|| |||37,724||7,220| |||(50,000 )||-| |||(12,276 )||7,220| |||(12,276 )||7,220| |||(12,276)||7,220| Small Charity Rules The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for 1. ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 2. preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company . These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies. ## 25/08/2021 The financial statements were approved by the Board of Trustees on………………………………………………………and were signed on its behalf by: ----------------------------------------- Mr Adedapo Oshinowo Chairman of Trustee Board 25/08/2021 The notes on page 7 form part of these financial statements. **Goodnews Bible Church Ltd Notes to the Financial Statements For The Year Ended 30 November 2020** ## **1.** Accounting Policies ## **1.1.** Basis of Preparation of Financial Statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'EFA, the and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **1.2.** Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. ## Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **1.3.** Taxation The charity is exempted from corporation tax on its charitable activities ## 2. Average Number of Employees Average number of employees, including directors, during the year was as follows: 1 (2019: ) ## 3. Debtors |Due within one year
Rent Deposit
4. Creditors: Amounts Falling Due Within One Year
Trade creditors
5. Creditors: Amounts Falling Due After More Than One Year
Bank loans|2020
£
4,530
4,530
2020
£
600
600
2020
£
50,000
50,000|2019
£
4,530| |---|---|---| |||4,530| |||2019
£
450| |||450| |||2019
£
-| |||-| ## 6. General Information Goodnews Bible Church Ltd is a private company, limited by Guarantee, incorporated in England & Wales, registered number 11686396. The registered office is 29 Valerian Way 29 Valerian Way, Leighton Buzzard, Bedfordshire, LU7 4EL. ## **Goodnews Bible Church Ltd Trading Income Statement For The Year Ended 30 November 2020** |TURNOVER
Donations and Legacies
Gift Aid income
Grant Received
GROSS PROFIT
Administrative Expenses
Travel expenses
Rent
Rates
Light and heat
Vehicle running costs
Printing, postage and stationery
Postage
Stationery
Welfare activity
Advertising
Training seminars
Telecommunications and data costs
Accountancy fees
Legal fees
Mission and Support
Subscriptions
Hall Hire
Social Events and Refreshment
OPERATING (LOSS)/PROFIT AND (LOSS)/PROFIT FOR THE FINANCIAL YEAR|2020
£
£
72,591
11,186
25,000
108,777
108,777
1,128
26,323
4,000
1,670
-
733
109
478
24,498
-
768
1,177
600
-
64,707
520
-
1,562
(128,273 )
(19,496 )|2020
£
£
72,591
11,186
25,000
108,777
108,777
1,128
26,323
4,000
1,670
-
733
109
478
24,498
-
768
1,177
600
-
64,707
520
-
1,562
(128,273 )
(19,496 )|2019
£
£

41,874

7,047

-

48,921

48,921
1,230
26,431
-
1,135
665
3,110
378
375
3,132
100
-
868
450
2,583
-
-
920
4,504

(45,881 )

3,040|2019
£
£

41,874

7,047

-

48,921

48,921
1,230
26,431
-
1,135
665
3,110
378
375
3,132
100
-
868
450
2,583
-
-
920
4,504

(45,881 )

3,040| |---|---|---|---|---| |||108,777
108,777


















(128,273 )||48,921
48,921


















(45,881 )| ||||
|| |||(19,496 )||3,040|