2024-03-31-accounts

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

DIVINE GRACE BAPTIST CHURCH Trustees Report and Financial Statements for the year ended 31 March 2024

Charity Number: 1109041

DIVINE GRACE BAPTIST CHURCH

	Page
Reference and Administrative Details of the Charity, its Trustees and Advisers	3
Trustees Report	4 - 6
Independent Examiners Report on the Financial Statements	7 - 8
Statement of Financial Activities	9 - 11
Notes to the Financial Statements	12 - 17

DIVINE GRACE BAPTIST CHURCH

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH, 2024

Trustees Revd Toye Akangbe Nora Roberts Osahon Igiebor

Principal Office 1 Autumn Drive Kingsnorth Ashford Kent TN25 7LQ

Accountants: Fabek Associates & Co Ltd Certified Chartered Accountants 32 Dewey Road Dagenham Essex RM10 8AR

Charity Number: 1109041

DIVINE GRACE BAPTIST CHURCH TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH, 2024

The Trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The Trustees, for the purposes of the Charities Act 1993 as amended have adopted the provisions of 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 2019). The Charity is governed by a constitution.

Achievements:

We had series of activities during the above time.
We had couple of charity activities among which are the attending to and give out some
warm clothes to those sleeping rough.
On the spiritual aspect, we had series of evangelism outreach whereby we shared the
word of God with many people who were ready to listen to us.
We had inter-cultural Sunday where we had people of different background dressing in
their cultural attire and we sang in different dialects.
We invited couple of Pastors to preach in our church for more spiritual development for
our members.

Care For Widow and Old Age People

We visited, prayed with and distributed hampers which includes some food items and beverages to old age people and widows in our church. We aim to provide necessary care for them as the need may arise.

Risk Assessment

As a church and a charity organisation, we have a duty of care for all our members, especially the children and the old age people. We have in place risk assessments to ensure their safety at every point in time when they come in to worship.

Worship Hall

Presently we are meeting in a rented apartment which costs us a lot on monthly basis. It is our projection to have our own place of worship in the nearest future. We are working towards this and pray God to see us through.

Directors

The following persons served as directors during the year: Revd Toye Akangbe - Chair of the Board Mr Osahon Igiebor Mrs Nora Roberts

GOVERNANCE AND INTERNAL CONTROL

A Board of Trustees governs the Charity. New Trustees are selected by the Board of Trustees and are subject to re-election every five years. At 31 March, 2024 the Board had a membership of four people. The Board meets three times a year to agree key policy decisions, set the strategy for the charity and oversee its performance. At present the Board has committee members who are responsible for the day to day activities of the charity. None of the committee members is being remunerated for being a committee member.

All Trustees receive the handbook for Trustees’ provided through the Charity Commission. Each Trustee will have an induction programme by other Trustees and receive an information pack on the Charity and its finances. Beyond this the Charity follows the code of practice for governance produced by the Governance Hub. Company law requires the Trustees to prepare financial statements for each financial year, which comply with the Charities Act 1993 as amended.

The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss.

They include:

i. A strategic plan and annual budget approval by the Trustees
ii. Regular consideration by the Trustees of financial results, in particular variance from budget
iii. Delegation of authority and segregation of duties.

STATEMENT OF TRUSTEES RESPONSIBILITIES IN RESPECT OF THE TRUSTEES' ANNUAL REPORT AND THE FINANCIAL STATEMENTS

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice).

The financial statements are required by law to give a true and fair view of the state of affairs of the charitable company and of the excess of income over expenditure for that period.

In preparing this financial statement, the trustees are required to

select suitable accounting policies and then apply them consistently;
make judgments and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in its activities.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that its financial statements comply with the Charities Act 2011 as amended. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.

DISCLOSURE OF INFORMATION TO EXAMINER

The trustees who held office at the date of approval of this trustees’ report confirm that, so far as they are each aware, there is no relevant information of which the Charity’s examiner is unaware; and each trustee has taken all the steps that he/she ought to have taken as a trustee to make himself/ herself aware of any relevant information and to establish that the Charity’s examiner is aware of that information.

EXAMINER

In line with the provision exemption in the Charities Act 2011 as amended, the charity decided to retain the services of its independent examiner Mr Adekunle Fawunmi.

Signed: ToyeAkangbe

Revd Toye Akangbe Chair of the Trustees Date: 25/01/2025

DIVINE GRACE BAPTIST CHURCH

INDEPENDENT EXAMINERS REPORT TO THE MEMBERS OF DIVINE GRACE BAPTIST CHURCH

We report on the accounts of the Trust for the year ended 31 March 2024, which are set out on Pages 9 to 17.

We have examined the financial statements of the Divine Grace Baptist Church (the charity) for the year ended 31 March, 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies, the financial reporting framework that has been applied in their preparation, its applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 - ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

Give a true and fair view of the state of the charity’s affairs as at 31 March, 2024 and of its incoming resources and application of resources for the year ended;
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
Have been prepared in accordance with the requirements of the Charities Act 2011.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 2011 (the 1993 Act)) and that an independent examination is needed. It is our responsibility to:

examine the accounts (under section 43(3)(a) of the 1993 Act);
to follow the procedures laid down in the General Directions given by the Charity Commissioners (under Section 43(7)(b) of the 1993 Act); and
To state whether particular matters have come to our attention.

Basis of independent examiner’s report

Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 we do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

In connection with our examination, no matter has come to our attention:

(1) Which gives us reasonable cause to believe that in any material respect the requirements
to keep accounting records in accordance with section 41 of the 2011 Act; and
To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act as amended.

Have not been met; or

(2) To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our examination of the accounts has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an examiner’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for the independent examination work, or for the opinions we have formed.

Signed this 25th Day of January 2025

SignedJideFawunmi

Adekunle Fawunmi Fabek Associates and Co Ltd Certified Chartered Accountants 32 Dewey Road Dagenham Essex RM10 8AR

DIVINE GRACE BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Income & Endowments from: Donations & Legacies 3a Investment income (interest received) 3b Total income A Expenditure on: Charitable activities 4 Total expenditure B Net expenditure for the year A-B Reconciliation of funds:- Total funds brought forward Total funds carried forward Notes	Current year Unrestricted Funds 2024 £ 59,703 17	Current year Current year Prior Year Restricted Funds Total Funds Total Funds 2024 2024 2023 £ £ £ - 59,703 55,034 - 17 25 - 59,720 55,059 - 62,506 83,455 - 62,506 83,455 - (2,786) (28,396) 398 21,928 50,324 398 19,142 21,928
	59,720	-
	62,506	-
	62,506	-

	(2,786) 21,530	- 398
	18,744	398

All the prior year transactions were unrestricted items, and no further analysis is required All activities derive from continuing operations

Income & Endowments from: Donations & Legacies 3a Investment income (interest received) 3b Total income A Expenditure on: Charitable activities 4 Total expenditure B Net (expenditure)/income for the A-B Reconciliation of funds:- Total funds brought forward Total funds carried forward Notes	Current year Unrestricted Funds 2023 £ 54,636 25	Current year Current year Prior Year Restricted Funds Total Funds Total Funds 2023 2023 2022 £ £ £ 398 55,034 106,572 - 25 4 398 55,059 106,576 - 83,455 104,553 - 83,455 104,553 398 (28,396) 2,023 - 50,324 48,301 398 21,928 50,324
	54,661	398
	83,455	-
	83,455	-

	(28,794) 50,324	398 -
	21,530	398

All the prior year transactions were unrestricted items, and no further analysis is required All activities derive from continuing operations

DIVINE GRACE BAPTIST CHURCH - Resources applied in the year ended 31 March 2024 towards fixed assets for Charity use:-

Funds generated in the year as detailed in the SOFA Resources applied on functional fixed assets Net resources available to fund charitable activities	2024 2023 £ £ (2,786) (28,396) (755) - (3,541) (28,396)

Movements in revenue and capital funds for the year ended 31 March 2024

Revenue accumulated funds

Revenue accumulated funds
Accumulated funds brought forward Closing revenue funds Summary of funds Revenue accumulated funds Recognised gains and losses before transfers	Unrestricted Funds 2024 £ 21,530 (2,786)	Restricted Funds 2024 £ 398 -	Total Last year Funds Total Funds 2024 2023 £ £ 21,928 50,324 (2,786) (28,396) 19,142 21,928 Total Last Year Funds Total Funds 2024 2023 £ £
	18,744	398
	18,744 398		19,142 21,928

DIVINE GRACE BAPTIST CHURCH

BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024

	Notes		2024		2023
		£	£	£	£
Current assets
Debtors	5	3,000		5,990
Cash at bank and in hand		15,778		19,550
Total current assets		18,778		25,540
Creditors: amounts falling due
within one year	6	(970)		(4,279)
Net current assets			17,808		21,261
The total net assets of the
charity			19,142		21,928
The total net assets of the charity are		funded by the	funds of the charity,		as
follows:-
Unrestricted Funds
Unrestricted Revenue Funds	7		18,744		21,530
Total charity funds			19,142		21,928

The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts. The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.

Signed ToyAkangbe

Revd Toye Ajangbe

Trustee

Approved by the board of trustees on 25 January 2025

DIVINE GRACE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting Policies

1.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 and the Charities Act 2011.

The financial statements have been prepared to give a true and fair view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Black and Minority Ethnic Community Partnership meet the definition of public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Going Concern

There are no material uncertainties regarding the charity’s ability to continue. Therefore, the accounts are prepared on a going concern basis.

1.3 Income

All income is recognised once the Charity has entitlement to the income. It is probable that the income will be received and the amount of income can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. 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 classified by activity. The costs of each activity are made up of the total direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis

consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of asset’s use.

Expenditure on charitable activities in incurred on directly undertaking the activities which further the Charity’s objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the	following bases:
Freehold property	- not depreciated
Long term leasehold property	- 100 years
Fixtures and Fittings	- 5 years
Office Equipment	- 7 years

1.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening or similar account.

1.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipated it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle obligation. Where the effect of the time is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.0 Fund Accounting

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 and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund

3a. Income from Donations and Legacies

Income from Donations and Legacies
Donations and gifts from individuals Total Donations and Legacies Building Fund Tithes, Offerings	Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 106,572 - 106,572 100,146 - - - 398
	59,703 - 59,703 55,034

3b. Investment income

Investment income
Bank Interest Receivable Total investment income	Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 17 - 17 25
	17 - 17 25

4. Expenditure on Charitable Activities

Total direct spending Premises Expenses Administrative overheads Professional fees paid to advisors other Total support costs Insurance Equipment expenses Gross wages and salaries - charitable activities Defined contribution pension costs - charitable activities Zoom software and web costs Charitable activities LBA Membership subs Support costs for charitable activities Rent payable under operating leases Stationery and printing Accountancy fees other than examination or audit fees Vehicle expenses	Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 47,357 - 47,357 59,002 - - - - 4,776 - 4,776 8,644 418 - 418 346 - - - 563	Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 47,357 - 47,357 59,002 - - - - 4,776 - 4,776 8,644 418 - 418 346 - - - 563
	52,551 - 52,551 70,451
	Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 8,966 - 8,966 11,000 - - - - 169 - 169 74 - - - 600 132 - 132 642 than the auditor or examiner - - - -
	9,355	- 9,355 12,404

Staff costs and emoluments

Salary costs Gross Salaries excluding trustees and key management personnel Employer's National Insurance for all staff Employer's contribution to defined benefit pension schemes Total salaries, wages and related costs Numbers of full time employees or full time equivalents The average number of total staff employed in the year was Employer's operating costs of defined contribution pension	2024 2023 £ £ 47,357 59,002 - 339 - - - -
	47,357 59,341
	2024 2023 3 2

Other Expenditure - Governance costs

5. Debtors 6. Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ Independent Examiner's fees 600 - 600 600 Total Governance costs 600 - 600 600 Total Charitable expenditure Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ Total direct spending 52,551 - 52,551 70,451 Total support costs 9,355 - 9,355 12,404 Total Governance costs 600 - 600 600 Total charitable expenditure 62,506 - 62,506 83,455 2024 2023 £ £ Other debtors 3,000 5,990 Creditors: amounts falling due within one year 2024 2023 £ £ PAYE, NIC VAT and other taxes 370 685 Other creditors 600 3,594 970 4,279	Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 600 - 600 600	Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 600 - 600 600
	600 - 600 600
	Current year Current year Current year Prior Year Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 £ £ £ £ 52,551 - 52,551 70,451 9,355 - 9,355 12,404 600 - 600 600
	62,506	- 62,506 83,455
		2024 2023 £ £ 3,000 5,990 2024 2023 £ £ 370 685 600 3,594 970 4,279

Charity Funds

At 31 March 2024 Current Assets Current Liabilities At 1 April 2023 Current Assets Current Liabilities	Unrestricted Restricted funds funds £ £ 18,380 398 (970) - 18,744 398 Unrestricted Restricted funds funds £ £ 25,142 398 (4,279) -	Total Total Funds Funds £ £ 18,778 18,778 (970) (970)
		19,142 19,142
		Total Total Funds Funds £ £ 25,540 25,540 (4,279) (4,279)
	21,530 398	21,928 21,928

There is no Related Party transaction to be disclosed for 2023/24 and 2022/23.
There is no Post Balance Sheet event to be disclosed for 2023/24 and 2022/23.

DIVINE GRACE BAPTIST CHURCH

Contents

DIVINE GRACE BAPTIST CHURCH

Achievements:

Care For Widow and Old Age People

Risk Assessment

Worship Hall

Directors

GOVERNANCE AND INTERNAL CONTROL

They include:

STATEMENT OF TRUSTEES RESPONSIBILITIES IN RESPECT OF THE TRUSTEES' ANNUAL REPORT AND THE FINANCIAL STATEMENTS

DISCLOSURE OF INFORMATION TO EXAMINER

EXAMINER

DIVINE GRACE BAPTIST CHURCH

INDEPENDENT EXAMINERS REPORT TO THE MEMBERS OF DIVINE GRACE BAPTIST CHURCH

Respective responsibilities of trustees and examiner

Basis of independent examiner’s report

Independent examiner’s statement

Use of our report

SignedJideFawunmi

DIVINE GRACE BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

DIVINE GRACE BAPTIST CHURCH

BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024

Signed ToyAkangbe

Revd Toye Ajangbe

Trustee

1. Accounting Policies

1.1 Basis of preparation of financial statements

1.2 Going Concern

1.3 Income

1.4 Expenditure

1.5 Interest receivable

1.6 Tangible fixed assets and depreciation

1.7 Debtors

1.8 Cash at bank and in hand

1.9 Liabilities and provisions

2.0 Fund Accounting

3a. Income from Donations and Legacies

4. Expenditure on Charitable Activities

Staff costs and emoluments

Other Expenditure - Governance costs