Rhema Faith Ministries
Financial Statements
for the year ended
28 February 2022

Rhema Faith Ministries
Financial Statements for the year ended 28 February 2022
Contents
Page
Reference and administrative details
Trustees report
213
Independent examinees report
ststement of financial activities
Balance sheet
Notes to the financial statements
718

Rhema Faith Ministries
FinaneiaR Statements for the year ended 28 Febrnary 2022
Reference and administrative details
Charity name
Rhema Faith Ministries
Charity registration number
1111867
Governing instrument
Declaration of Trust dated l October 2005
Trustees
Tesfaye Kidane
Yoseph Admassu {resigDed l March 2022)
.4bebe Wondim Milikit
Daniel Ketema
Secretary to the Trustees
Rev D Dacre
Trust objectives
a) the advancemenl of the Christian faith.
b) the relief of persons who are in conditions of need,
hardship or distress or who are aged or sick.
¢) the provision of instruction in the Christian faith at
any educational Cstablishment.
Principal address
10 Slaidburn Street
West Brompton
London
swio ojp
Bankers
HSBC
16 Shepherds Bush Green
Shepherds Bush
London
W12 8PT
Natwest
69 Station Road
Cross gates
Leeds
LS15 8DJ
Natwest
I St Philips Place
Birniingham
B3 2PP
Kingdom Bank
Ruddington Fields
Ruddington, Nottingham
NGII 6JS
Independent exatniner
Glenis Parker
16 Heath Avenue
Halif&x
HX3 OEA
Page 1

Rhema Faith Ministries
Financial Statements for the year ended 28 February 2022
Report of the Trustees
The Trustees present their Report and Financial Statements for the year ended 28 February 2022.
Structure? governance and management
Rhema Faith Ministries was constituted by a Declaration of Trust dated l October 2005.
The objectives of the Charity are:_
a) The advancement of the Christian faith.
b) The relief of persons who are in conditions of need. hardsbip or distress, or who are aged or sick"
c) The provision of instruction in the Christian faith at any educational establishment.
Trustees
The Trustees who served during the year were:_
Tesfayc Kidane
Yoseph Admassu (resigned l March 2022)
Abebe Wondim Milikit
Daniel Ketema
Any person being a member of the Church who accepts the Ststement of Doctrines of the Church. may be
appointed to the Trusteeship by the recognised spiritual leaders of the Church.
Any new Trustee is given an introduction to the work of the Charity by the Secretary of the Trustees and
given a copy of the Charity Commission guidelines CC3a and CC10, together with an explanation of the
role of a Trustee.
The Trustees have reviewed the adequacy of the Charitys current internal controls and are confident
that these controls conforni with guidelines issued by the Charity Commission.
Trustees responsibilities
Charity law requires the Trustees to prepare flljancial statements for each financial year which gives a
true and fair view of the state of affairs of the Charity and of its financial activities for that period.
In preparing those financial statements the Trustees are required to-.
a) select suitable accounting policies and apply them consistently"
b) make judgements and estimates that are reasonable and prudent.
c) state whether the policies adopted are in accordance with the charities SORJ) and with applicable
accounting standards. subject to any material departures disclosed and explained in the financial
statements.
d) prepare the financial statements on the going concern basis unless it is inappropriate to assumc the
Charity will continue operating.
The Trustees are responsible for keepino
proper accounting records which disclose with reasonable
accuracy at any time the financial position of the Charity and to enable them to ensure that the financial
statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of
the Charity and hence for takints reasonable steps for the prevention of fraud or other i￿e(￿ularitIeS.
Reserves policy
The Trustees have reviewed the Charitys needs for reserves in line with the guidance issued by the
Charity Commission and consider it prudent that unrestricted reserves should be sulTicient to avoid the
necessity to realise fixed assets. The Trustees are confident that future income will enable the Charity
to meet its foreseeable needs on the basis of planned activity.
Page 2

Rhema FAlth Ministries
Financial Statements for the year ended 28 February 2022
Report of the Trustees {eontinued)
Review of progress and achievements
Rhema Faith Ministries, (RFM) objective is to spread th¢ good news of the gospel of Jesus Christ and
to equip and encourage believers to accomplish God's purpose in their life.
The seven UK branches - London. Bim)ingham. Portsmouth, Manchester. LEeds, Coventy and Stoke-
on-Tr¢nt are under the leadership of Fekadu Rehoboth Beyene.
The seven international branches - Ethiopi4 Eritre4 Sudan, Itsly. Norway. Canada and the USA - ate
under the leadership of Zewdte Gebresel&ssie, the founder ofRFM. Rhema Faith Ministries Consider the
Pi)or (RFMCP) assists impoverished chilthen in Ethiopia and is under the leadership of Yordanos A Tesfay.
RFM interacts with the London b&sed Ethiopian Eritr¢an Evangclical Alliance connecting tbcm to other
Ethiopian and Eritrean churches.
Througbout the year RFM supported the local churches with encouraging and inspiring meetings,
seminars. workshops and leadership training offered over the internet platfom when restrictions were in
place due to Covid 19 pandemic and on site when the Kstrictions were lifted. RFM also reached out into
their communities to offer the much-needed &ssistance resulting from the Covid 19 lockdowns and
controls.
RFM has a positive commitment to oppose all fornis of discrimination within the Charity and its
beneficiaries. working towards promoting equality for all, irrespective of race, colour, nationality, religion,
gender, class and age: in accordance with the ChTiStian belief in the Bible as the word of God.
Full details of the financial transactions are contained in the attached accounts.
Public benefit
When planning activities the Trustees have considered the Commission's guidance on public benefil and.
in particular. the specific guidance on Charitie5 for the advancement of religion. In particular. the
Trustees ty to enable Ordinary people to live out their faith as part of the community through:
a) worship and pray¢r. learning about Ihe Gospel and developing their knowledge and trust in Jesus-
b) provision of pastoral care for people living in the community.
c) missionary and outreach work.
Risk management
The Trustecs give consideration to the major risks to which the Charity is exposed and systems which
are designed to rniti￿e those risks on an ongoing b&sis.
Signed on behalf of the Trnstees on 12 December 2022.
Rev D Dacre
Secretary to the Trustees
Page 3

Rhema Faith Ministries
Financial Statements for the year eDded 28 February 2022
Independent Examiner's Report
to the Trustees of Rhema Faith Ministries
I report on the Accounts of the Trust for the year ended 28 Febnwy ?022 which are set out on pages
5t08.
Respective responsibilities of trustees and examiner
The charitvs trusteog are responsible for the preparation of the accounts.
The charity's tn￿teeS consider that an audit is not required for this year under section 144(2) of the
Charities Act 2011 (the 201 l Act) and that an indcpendent examination is needed.
It is my iesponsibility to=
a) examine the accounts under section 145 of the 201 l Act
b) to follow the procedures laid down in ihe general Directions given by the commission under
section 145 {5) (b) of the 2011 Act
c) to state whether particular matters have come to my attention
Basis of 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
omparison of the accounts presented with those records. It also includes consideration of any
unusual items or disclosures in the accounts, and secking explanations from you as trnstees concerning
any such matters. The procedures undertaken do not provide all Ihe evidence that would be required in
an audit. and consequently no opinion is given as to whcther ihe accounts present a 'true and fasr vie
the report is limited to those matters set out in the next statement.
IndependeDt ex2miDer's statement
In connection with my examination, no matt¢T h&s come to my attention-
l) which gives me reasonable cause to believe that in any material respect the requiT¢ments-
a) to keep accounting records in accordancc wrth Section 130 of the 201 l Act and
b) to prq)are accounts which accord with the accounttng records and comply with the accounting
requirements of the ?0 I l Act
have not been met or
2) to which, in my Opinio￿ attention should be drawn in order to enabl¢ a proper understanding of the
accounts to be reached.
Glenis Parker
Halifax
Dated 12 Detember 2022
Page 4

Rhema Faith Ministries
Statement of Financial Activities for the year ended 28 February 2022
Total
Funds
2022
To¢AI
note Linrcstritted
Funds
Restricted
Funds
2021
Incoming resollrees
Voluntary income
Investment incom¢
196.415
167
196.415
167
111,661
383
Total incoming resources
196,582
196,582
112,044
Resources expended
Costs of charitable activities
Governance costs
Other resources expended
102,804
2,900
7,341
102,804
2.900
7,i41
110,442
8,834
Total ro8ources expended
113,045
13,045
119,276
Net incoming resources for the year
83,537
83,5)7
-7,232
Gross transfers between funds
Net movement in funds in the financial year
83,537
-7,23?
Total funds brought forward
282,940
282.940
290.172
Total funds carried forward
366,477
366,477
282,940
Page 5

Rhema Faith Ministries
Balanee Sheet 28 February 2022
Total
Funds
2022
Total
Funds
202]
ote Lnrcstrieted
Funds
Restricted
Funds
Fixed assets
Tangible assets
26,168
?6.168
31,571
Current assets
Bookstall stock
Debtors
(Amounts due within one year)
C&sh at bank and in hand
1289
1.289
18,752
240,844
299,586
299,586
354,112
354,112
260,885
Total assets
380280
380.280
292,456
Less Current liabilities
Creditors
(amounts due within one year)
13,803
13,803
9,516
Net assets
366,477
366,477
28? 940
Reserves
Balances brought forward
Net incoming resources for year
Transfers between funds
282,940
8i.537
282,940
83,)37
290,172
-7,232
Balances carried forward
366.477
366,477
282,940
These fmancial statements were approved by the trust￿ OD 12 December 2022
Tesfaye Kidane
Abebe Wondim Miliklt
Daniel Ketem2
Page 6

Rhema Faith Ministries
Financial Statements for the year ended 28 February 2022
Notes to the Aeeounts
l Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with applicable accounting standards and
Charities Statement of Recommended Practice (SORP 2005).
Fund aecountlDg policy
Unrestricted income fi￿dS are general fi]nds that are available for use at the trustees, discretion in
furtherance of the objectives of the charity.
Restricted fimds are th0￿ donated for use in a particular area for specific purpose(L the use of which is
restricted to that area or purpose.
Incon]ing resources
Income from donations and gifts is brought into account only when the income is actually received.
Resources expended
Liabilities are recognised as soon as there is a leoal obligation commstting the charity to the expenditure.
All expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related to the category.
Costs of generating funds are the costs associated with attrdcting voluntary income.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and
services for its beneficiaries. It includes both costs that can be allocated directly to such activities and
those costs of an indirect nature necessary to support them.
Governance costs
Governance costs include costs of the preparation and examination of statutory accounts, the costs of
trustees meetinus and the cost of any legal advice to trustees on governance or constitutional
matters.
Depreciation
Depreciation is calculated to ￿lte down the cost of fixed assets over their expected useful lives and is
therefor¢ provided on the following basis:
Fixtures, fittings and equipment
25 /0 on the written down value
Page 7

Rhema Faith Ministries
Financial Statements for the year ended 28 February 2022
Notes to the accounts
2022
2021
2 Staff costs
Ministy SUPPOrt
Average Dumber of employees
33,108
21,777
2022
2021
3 Independent examiner
Fee
4 Schedule of Tangible Assets Unrestricted Funds
Fixtures
& equip
Total
2022
Total
2021
Cost
Brought fonvard
Additions
Disposals
107,744
1,938
107,744
1,938
98,544
9,200
109,682
109,682
107,744
Depreciation
Brought forward
Charge for year
On disposal
76.173
7.341
76,173
7,341
67,339
8,834
83.514
83,514
76,173
Written down value
At 28 February 2022
At 28 February 2021
26.168
31,571
26,168
il,571
31,571
31,205
2022
2021
S Debtors (amounts due within one year)
Income tsx recoverable
Loan
ReDt deposit
Prepaid expenses
48.002
12,5?1
1,000
5.000
5.000
18,752
2022
2021
6 Creditors (amounts due within one year)
Loans
Accruals
1,333
12.470
916
8,600
9,516
13,803
7 Transactions with trustees
None of the trustees received fees or expenses during the year (2021
nil)
Page 8