2022-12-31-accounts - Focus International Christian Centre

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FOCUS INTERNATIONAL CHRISTIAN CENTRE

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2022

CHARITY NUMBER : 1116926

FOCUS INTERNATIONAL CHRISTIAN CENTRE 123 UXBRIDGE ROAD HILLINGDON UXBRIDGE UB10 0LQ

INDEX Page Index 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Statement of Financial Activities 5 Balance Sheet 6 Notes on the financial Statements 7 - 10

FOCUS INTERNATIONAL CHRISTIAN CENTRE

LEGAL & ADMINISTRATIVE DETAILS YEAR ENDED 31[ST] DECEMBER 2022

ADDRESS FOR CORRESPONDENCE

123 UXBRIDGE ROAD HILLINGDON MIDDLESEX UB10 0LQ

REGISTERED CHARITY NUMBER

1116926

GOVERNING DOCUMENT

DECLARATION OF TRUST 25[TH] SEPTEMBER 2006.

TRUSTEES/ DIRECTORS

Pastor (Mrs) Benedicta Olagunju Dr Benedict Olagunju Mr Michael Adeyemo Mr Olalekan Bello

PRINCIPAL BANKERS

UNITY TRUST BANK PLC NINE BRINDLEYPLACE BIRMINGHAM B1 2HB

INDEPENDENT EXAMINER

FRESH FIRE ORGANISATION GENERATOR BUSINESS CENTRE 95 MILES ROAD MITCHAM CR4 3FH

FOCUS INTERNATIONAL CHRISTIAN CENTRE

TRUSTEES’ REPORT YEAR ENDED 31[st] December 2022

The trustees are pleased to present their report for the year ended 31[st] December 2022 for the charity, Focus International Christian Centre with Charity Number 1116926.

The Trustees of the charity are: Mr Michael Adeyemo Pastor Benedicta Olagunju Pastor Benedict Olagunju Mr Olalekan Bello

The principal address of the charity is: Focus House

123 Uxbridge road, Hillingdon UB10 0LQ

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity governing document is a trust deed that was adopted on 25[th] September 2006 .The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.

OBJECTIVES AND ACTIVITIES

The Objects of the organisation are to advance the Christian Faith [in accordance with the Statement of Beliefs] through Wembley, Middlesex and throughout the world as the trustees may see fit from time to time, secondly to relieve persons who are in condition of need or hardship o aged or sick and to relieve distress. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.

ACHIEVMENTS AND PERFORMANCE

The Organisation continues to hold successful worship services through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. It used most of its funds in running its programs during the year. It continues to rent out the flats connected with its premises and this has provided some additional rental income. The church continues to hold its regular conferences that has assisted in enhancing the quality of lives of members of the general public for the good. The church has now moved back to in person services and this has greatly benefited the community.

FINANCIAL REVIEW

The income of the charity is above £167,000. This is an increase on its previous year’s income and the church has a healthy amount in its reserves as well. It is in a financially strong position as it plans ahead regarding its future. The costs have been managed over this period. The church used a large amount of its income in paying the mortgage for the building as well as the general duties of running as a ministry. The church is a going concern.

FUTURE PLANS

The church intends to continue to host its regular yearly conferences in UK. They will continue to support their yearly conferences in the community. The intended reappointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective

RESERVE POLICY

It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.

RISK MANAGEMENT

The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.

TRUSTEE RESPONSIBILITIES

Under the Charities Act 2011, the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:

Select suitable accounting policies and apply them consistently.
Make judgements and estimates that are reasonable and prudent.
State whether the applicable accounting standards have been followed.
Prepare financial statements on an ongoing basis.

They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.

Approved by the Trustees on 17[th] February 2023 and signed on their behalf by:

Independent Examiner’s Report To the Trustees

FOCUS INTERNATIONAL CHRISTIAN CENTRE

I report on the accounts of the church for the year ended 31[st] December 2022 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.

Respective responsibilities of trustees and examiner

The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. It is my responsibility to :

Examine the accounts under section 145 of the 2011 Act.
Follow the procedures laid down in the General Directions given by the Charity Commissioners made under section 145(5)(b) of the 2011 Act.
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 Commissioners. An examination includes a review of the accounting records kept by the church 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 I do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

In the course of my examination, no matter has come to my attention;

(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
proper accounting records are kept( in accordance with section 130 of the 2011 Act
accounts are prepared which agree with the accounting records and comply
with the accounting requirements of the 2011 Act: or
(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.

CHUKS AJUKA BSc(Man), FICB PMDip FRESH FIRE ORGANISATION Generator Business Centre 95 Miles Road Mitcham Surrey CR4 3FH 4

FOCUS INTERNATIONAL CHRISTIAN CENTRE

Statement of Financial Activities for the year ended 31st December 2022

		Unrestricted	Total Funds
		Funds	2022	2021
Incoming ResourcesNote		£	£
from generated funds
Donations and Legacie	2	118273	118273	112159
Investment income	3	194	194	16
		118467	118467	112175
Other Income
Other		48899	48899	48245
Total Incoming		167366	167366	160420
Resources
Resources Expended
Charitable activities in furtherance of objectives
Charitable Activities	5	91,302	91,302	69426
Other	6	808	808	740
Total Resources		92,110	92,110	70166
Expended
Net movement in funds		75,256	75,256	90254
Other recognised gains
Gains on investments
Reconciliation of Funds
Total Funds brought forward		371576	371576	281322
Total Funds carried forward		446,832	446,832	371576

The above funds are all classed as to purpose All movements of funds and all recognised gains and losses are included above.

The notes on the accounts form part of these accounts.

FOCUS INTERNATIONAL CHRISTIAN CENTRE Balance Sheet as at 31st December 2022

Note 2022 Fixed Assets £ Tangible fixed assets 5 441532 _ 441532 _ Current Assets Cash at bank and 221994 in hand Debtors & prepayments 9 74200 296194 Creditors:amounts falling due within one year Creditors & accruals 7 600 _ Net Current Assets 295594 _ Creditors: amounts due falling after one year 8 290294 _ Net Assets 446832 _ General Funds 446832 Total Funds 446832	2021 439813
	___ 439813
	___ 176051 49200
	225251 600 _ 224651 _ 292888
	___ 371576
	___ 371576 371576

Approved by the trustees on 17th February 2022 and signed on their behalf by :

The notes on these accounts form part of these accounts

FOCUS INTERNATIONAL CHRISTIAN CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022

1) Accounting Policies

These accounts have been prepared under the historic cost convention with items Recognised at cost or transaction values otherwise stated in the relevant note(s) to These accounts. The accounts have been prepared in accordance with: The Statement of Recommended Practice: Accounting and Reporting by Charities Preparing their accounts in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014.

1.1 Going Concern: The accounts are prepared on a going concern basis.

1.2 The accounts present a true and fair view and no change have been made to the accounting policies adopted.

1.3 No changes to the accounting estimates have occurred in the reporting period
1.5 No material prior year error have been identified in the reporting period.

Recognition of Income

These are included in the Statement of Financial Activities (SOFA) when:

The charity becomes entitled to resources;
It is more likely than not that the trustees will receive the resources;
The monetary value can be measured with sufficient reliability.

Grants and Donations

Grants and Donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 512 FRS102 SORP)

Tax reclaim on donations and gifts

Gift Aid receivable is included in the income when there is a valid declaration from the donor. Any gift aid amount recovered on a donation is considered to be part of that gift and is treated in addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

EXPENDITURE AND LIABILITIES

Liability Recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Grants and Support Costs

Support costs have been allocated between the governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

FOCUS INTERNATIONAL CHRISTIAN CENTRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2022

Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

ASSETS

Tangible Fixed Assets for use by the charity

They are capitalised if they can be used for more than one year. They are valued at cost. The depreciation is calculated at 20% reducing balance method.

Debtors

Debtors are measured on initial recognition at settlement amount. Subsequently they are measured at cash.

FOCUS INTERNATIONAL CHRISTIAN CENTRE

Notes to the accounts for year ended 31st December 2022

2 Voluntary Income

Church collections Tithes and Offerings Grant Total	Unrestricted Total funds Total funds Funds 2022 2021 £ £ £ 118273 118273 110260 10899
	_______ 118273 118273 121159 _______

2A Other Income

me
Rental Income Gift Aid Total	2022/£ 2021/£ 25148 22112 23751 26133
	48899 48245

3 Investment income

Unrestricted Total funds Funds £ 2022/£ 2021/£ Bank Interest 194 194 16

4 Tangible Fixed Assets Cost At 01/01/2022 Additions At 31/12/2022 Depreciation At 01/01/2022 charge for the year At 31/12/2022 Net Book Value at 31/12/2022 Net Book Value at 01/01/2022	Instrument Van Equipment building Total £ £ £ £ £ 2001 2481 16599 435000 456081 2000 0 1350 0 3350
	_________ 4001 2481 17949 435000 459431 1576 2147 12545 0 16268 485 66 1080 0 1631
	_________ 2061 2213 13625 0 17899 1940 268 4324 435000 441532 425 334 4054 435000 439813

FOCUS INTERNATIONAL CHRISTIAN CENTRE Notes to the accounts for year ended 31st December 2022

5	Cost of Activities in	furtherance of	Charity's Objectives	Charity's Objectives
		2022/£		2021/£
	Hall Hire	3935		0
	Mission house rent	13800		13800
	Maintenance/ Repair	290		268
	Honorarium	2400		0
	Insurance	4138		3635
	Church conferences	3000		600
	Transportation costs	875		638
	Salary	11400		11400
	Subscription	145		129
	Training	0		894
	Bank Charges	304		98
	Mortgage Interest	25812		18367
	Benevolence gifts	2182		4690
	Light and heat	738		2559
	Stationary	3117		160
	Sundry	0		0
	Hospitality	0		0
	Telephone	1406		1438
	Depreciation	1631		1203
	Welfare	7350		5142
	Advert	0		0
	Media Services	920		310
	Professional fees	3700		1638
	Web hosting	473		571
	Mission	0		500
	Rates	3686		1386
	Total	91302		69426
6	Other	2022/£		2021/£
	Independent examination		600	600
	Administration		208	140
	Total		808	740
	Staff Costs	£		£
	Salaries		11400	11400
	Tax/NIC		0	0
	Total		11400	11400

No employee earned more than £15,000 p.a. There were 2 employees during the year.

7 Creditors: amounts falling due within one year Independent examination Total 8 Creditors: amounts falling due after one year Mortgage	2022/£ 2021/£ 600 600
	600 600
	2022/£ 2021/£ 290294 292888

The church has a mortgage on its building on a repayment basis for 20 years.

FOCUS INTERNATIONAL CHRISTIAN CENTRE Notes to the accounts for year ended 31st December 2022

Debtors and Prepayments	2022/£	2021/£
Tax recoverable	25700	25700
Loan to members	48500	23500
Total	74200	49200

Trustee Remuneration

Trustees Dr Benedict and Bendecita Olagunju received remuneration of £11400 for pastoral services rendered to the charity.