WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Charity Number: 1109678
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 CONTENT Page Statutory Information Report of the Trustees Report of the Accountants Statement of Financial Activities Balance Sheet Notes to the accounts 7-10 This does not form part of the statutory accounts Income and Expenditure Account 11 Charity Number: 1109678
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 STATUTORY INFORMATION Principal Address: The Land of Grace 657 Green Lanes Haringey London N8 OQY Registered Number: 1109678 Accountants: Alani Idowu & Co 51 Beechwood Road Oldham OL8 2NJ Bankers: HSBC Bank 160 Clapton Common Stampford Hill London E5 9AH Clydesdale Bank 35 Regent Street London SWIY 4ND Charity Number: 1109678
WXIINERS KINGDOM INfeRNATIONAL CHRISTIAN CENTRE REPORT AND FINANCIAL STATEMENTS FOR ThE YEAR ENOEO 31 JULY 2024 REPORT OP THE TRVSTEES Tru•t••• OmodÈle Olawanle(Ch3irman) Blmbo Olawanle Olablsl Oladlmejl (Secrètary) Majek Kuyoro Trust••*' R••pon•lbllltl•• In R•l•tlon to th• Fln•nd•l St•t•m•nts Law appllcable to charltles In England èt)d Wales rtqulres the trustees to prepare Anardal Sttstements for eath flnaThdal year, whlch olve a true and falr vlew of the Charlty¥ flnandal artfvltles durlfto the year and d Its flnandal posltlon at the end of the year. In preparlno those ftnaftdal statements, the trustées arn rnqulred to: l. sdect sultable a(xountlng polldes and then apply them conslstentlyi 2. make Jud9emonts and estlmJtes that are rèasonable and prudent; 3. stste wether appll¢able accountlng standards and ststements of recommended prnctlce have been followed subjert to any departure dlsclosed and explalned In thé flMThdal statemeftts. and 4. prepare the flnandal statéments on the oolng concern basls unless It Is InappropAate to presumÈ that the tharlty wlll contlnue In buslness. The trustees are responslble for keeplno accountlno records whlch dlsclose wlth reasonable accuraw at any tlme the flnandal ptssltlon of the charfty and enable them to ensure thet the flnancial statements comply wlth the Charltles Art 1993. They are also responslble for safrfuardlng the awts of the dwrlty aftd hence for tsklng reasonable steps for the preventlon and detentlon of fraud and other Irregularltles. Olablsl 01 Imejl (Settetary) Omodele Olawa (Chalrnian) Dated: 26Th Aprfl 2025 Charlty Number: 1109678
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 INDEPENDENT ACCOUNTANTS REPORT We have prepared the financial statements of Winners Kingdom International Christain Centre for the period ended 31 July 2023 which comprise the Statement of Financial Activities, Balance Sheet and the related notes set out on pages 7 to g. These financial statements have been prepared uunder the historic cost convention and the accounting policies set out on page 7. This report is made solely for the trustees in accordance with Section 44 Charities Act 1993. Our accounting work has been undertaken so that we might state to the Trustees those matters we are required to state to them in our accountants, report and for no other purposes. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Trustees of the Association, for our accounting work, for this report, or for the oipnion we have formed. Respective Responsibilities of Trustees and Accountants The trustees, responsibilities for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards are set out in the Statement of Trustees, Responsibilities on page 2. Our responsibilies is to prepare the financial statements in accordance with relevant legal and regulatory requirements and United Kingdom Accounting Standards. We report to the trustees our opion whether the financial statements give a true and fair view and are prepared in accordance with the Charities Act 1993. We also report to you if, in our opinion, the Trustees, Annual Report is not consistent with the financial statements, if the charity has not kept proper accounting records, or if we have not received all the information and explanations we require for the preparation of the financial statements. We read the information contained in the Trustees, Annual Report and consider whether it is consistent with the financial statements. We consider the implication for our report if we become aware of any apparent misstatements or material inconsistencies with the financial statements. Our responsibilities do not extend to any other information. Basis of opinion We have prepared the financial statements with the United Kingdon Accounting Standards issued by the Accounting Standards Board. The preparation include exam- ination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the trustees in the preparation of the financial statements, and of whether the accounting policies are appropriate to the charity's circumstances, consistently applied and adequately disclosed. Charity Number: 1109678
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 INDEPENDENT ACCOUNTANTS REPORT Basis of opinion (continued) We planned and performed our preparation so as to obtain all information and expla- nations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance as to whether the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In form- ing our opinion, we also evaluate the overall adequacy of the presentation of informa- tion in the financial statements. Unqualified opinion In our opinion, the financial statements give a true and fair view of the state of affairs of the charity as at 31 July, 2024 and of its incoming resources and application of resources for the period then ended and have been properly prepared in accordance with the Charitues Act 1993. Alani Idowu & Co 51 Beechwood Road Oldham OL8 2NJ Dated: 26th April 2024 Charity Number: 1109678
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Funds Unrestricted Funds 2024 2023 Note Incoming Resources Activities in furtherance of the charity's objects 104,582 88,940 Investment Income Total Incoming Resources 104,582 88,940 Resources Expended Cost of generating funds 31,490 37,750 Management and Administration 66,586 82,186 Total Resources Expended 98,076 119,936 Net incoming resources before other recognised gains and losses 6,506 (30,996) Other recognised gains and losses Net movement in funds for the year 6,506 (30,996) Balance Brought Forward 52,391 83,387 Total funds as at 31 July 2023 58,897 52,391 All activities relate to continuing operations. Charity Number: 1109678
WINNERS KINGN INTERNATIONAL CHRxsfiAN CENTRE REPORT FIN CIAL STATEMENTS FOR THE YE ENDED 31)ULY 2024 ALANCE HEEr AS AT 31 JULY 2024 2024 2023 Not4 Hx•d A•••ts: Tanglble FIX Assets 1,040,689 1,047,651 Currnnt A6x•ts Recelvable Balance at bank a In hand 41,857 41,857 31,8S7 31,857 Cur•nt Ll•bllltl Credltors: Amount fallln9 due wlthln l ye S33 4.001 Il•t Curr•nt AsMt• 41,3 27,8S6 Cr•dltorn Amount due more than l ye Curr•nt Ll•blllUo• 1075 Represented by: G•n•r•l Funds Unr&%trScted Funds 10 71O54 65,348 11 1,010,159 1,010,159 1084013 1075 507 Approved by the trustees on 25th of May 2024 and slgned on Its behalf by; 01 blsl 01 Imeji (Secretary) Omodele Olawanle (Chalrman) Charlty Number: 1109678
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 NOTES FORMING PART OF THE FINANCIAL STATEMENTS l. Principal Accountiong Policies a. Accounting Convention The financial statements are prepared under the historic cost convention. In preparing the financial statements, the charity follows the best practice as laid down in the Statement of Recommended Practice "Accounting and Repo- rting by Charities" (SORP 2000) issued in October 2000. To comply fully with The Statement of Recommerided Practice, would require investments to be accounted for at valuation. The trustees are of the opinion that since the investments are held for the long term, it would be inappropriate to account for unrealised gains and losses for the period. Therefore investments have been accounted for at historical cost. This is the only exception to compliance with The Statement of Recommended Practice. The market value of the investments is disclosed. b. Income from members is credited to the income in the year in which it is receivable by the Association. All other income is credited to income in the year in which it is received on a cash basis. c. Donations to other charities are charged in the year when the offer is conveyed to the recipients except in those cases where the offer is conditi- oning, such as donations or grants being recognised as expenditure when the conditions attached are fulfilled. d. Unrestricted funds are general funds which are available for use at the disc- rection of the trustees in furtherance of the general objectives of the Asso- ciation and which have not been designated for other purposes. e. Tangible Fixed Assets The tangible assets are stated at cost less depreciation. The general policy is to provide depreciation on fixed assets on a reducing balance method over their estimated useful lives. No depreciation is charged in the year in which the assets are sold or scrapped. Tangible fixed assets are depreciated at rates appropriate to the assets concerned. Freeghold Property Improvements to Property Equipments Furniture and Fixtures 00/0 25% 25% 200/0 Charity Number: 1109678
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 NOTES FORMING PART OF THE FINANCIAL STATEMENTS (continued) 2. Incoming Resources - Activities in furtherance of charity's objects 2024 2023 Tithes and Offerings Building Fund 69,070 6,200 75,270 29,312 104,582 81,438 7,502 88,940 Gift Aid 88,940 3. Investment Income 2024 2023 Interest received on bank deposit account 4. Cost of Generating Incoming Resources 2024 2023 Outreach events Publicity and Radio Ministry Love offerings Donations to other charities 2,550 9,130 9,008 10,802 2,511 9,036 9,191 17,012 31,490 37,750 5. Management and Administration 2024 2023 Rates Professional and Consultancy Fees Training and Educational Resources Travelling and Accomodation Office Consumables Telephone, Fax and Internet Building Maintenance and Repairs Insurance Utilities Advert/Miscellaneous Hounourarium Entertainment Accountancy and Bookkeeping Bank charges Depreciation charged Transfer to Restricted Fund 1,260 20,000 8,779 3,403 4,411 14,424 4,055 5,638 2,400 3,385 4,789 8,886 1,419 3,330 11,203 4,813 6,109 5,149 3,600 12,151 2,750 214 6,962 443 9,199 66,586 82,186 Charity Number: 1109678
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 NOTES FORMING PART OF THE FINANCIAL STATEMENTS (continued) 6. Tangible Fixed Assets Freehold Furniture Pro ert ment & Fixtures Total Cost Brought Forward Additions 1,018,790 136,539 56,914 1,212,243 Carried forward 1,018,790 136,539 56,914 1,212,243 Depreciation Brought Forward Provided during the year 112,736 5,951 51,856 1,012 164,592 6,962 Carried forward 118,687 52,868 171,554 Net Book Vale At 31 July 2024 1,018,790 17,852 4,046 1,040,689 At 31 July 2023 1,018,790 42,317 7,902 1,047,651 7. Receivable Amount falling due within l year 2024 2023 Gift Aid Receivable Sundry Debtors Prepayments 8. Payables Amount falling due within l year 2024 2023 Mortgage Loan Interest accrued on Mortgage Sundry Creditors Accrued Charges 9. Creditors Amount falling due after more than l year 2024 2023 Mortgage/Other Loan Charity Number: 1109678
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 NOTES FORMING PART OF THE FINANCIAL STATEMENTS (continued) 10. General Funds 2024 2023 Balance Brought Forward 65,348 96,344 Net movement in Funds for the year 6,506 (30,996) Balance Carried Forward 71,854 65,348 11. Restricted Funds 2024 2023 This represents amount provided and set aside for specific purpose. Members fund invested in the property Refurbishment/lmprovement to Property 1,010,159 1,010,159 1,010,159 1,010,159 10 Charity Number: 1109678
WINNERS KINGDOM INTERNATIONAL CHRISTIAN CENTRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 STATEMENT OF FINANCIAL ACTIVITIES 2024 2023 Incoming Resources Tithes and Offerings Building Fund 69,070 6,200 75,270 29,312 104,582 81,438 7,502 88,940 Gifts Aid Receivable 88,940 Interest Received 104,582 88,940 Resource Expended Cost of generating funds Outreach events Publicity and Radio Ministry Love offerings Donations to good causes 2,550 9,130 9,008 10,802 2,511 9,036 9,191 17,012 31,490 37,750 Management and Administration Rates Professional and Consultancy Fees Training and Educational Resources Travelling and Accomodation Office Consumables Telephone, Fax and Internet Building Maintenance and Repairs Insurance Utilities Advert/Miscellaneous Hounourarium Entertainment Accountancy and Bookkeeping Bank charges Depreciation charged 1,260 20,000 8,779 3,403 4,411 14,424 4,055 5,638 2,400 3,385 4,789 8,886 1,419 3,330 11,203 4,813 6,109 5,149 3,600
2,750 214 6,962 443 9,199 66,586 82,186 Total Resource Expended 98,076 119,936 Excess of Incoming Resources Over Resource Expended 6,506 (30,996) 11 Charity Number: 1109678