REGISTERED COMPANY NUMBER: 05614837 (England and Wales) REGISTERED CHARITY NUMBER: 1117603
Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 November 2020 for
FRESH INSPIRATION
FRESH INSPIRATION
Contents of the Financial Statements for the year ended 30 November 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statements of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 8 |
| Detailed Statement of Financial Activities | 9 |
FRESH INSPIRATION
Report of the Trustees for the year ended 30 November 2020
The trustees who is also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statement of the charity for the year ended 30 November 2020. The trustees 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)
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05614837 (England and Wales)
Registered Charity number
1117603
Registered office
8 Drovers Way Newton Longville Buckinghamshire MK17 0HR
Trustees
A O Komolafe F O Komolafe A Pinherio
Uzo Nwuga Celia Kruse R Williams
Company Secretary
F O Komolafe
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Fresh Inspiration is a charitable company limited by guarantee. It is governed by a Memorandum and Articles of Association and controlled by the Directors for the purpose of company law.
Principal Activity
The principal activity of the company in the year under review was the advancement of the Christian faith.
Risk management
The trustees have addressed the major risks to which the charity is exposed, in particular those relating to specific operational areas of the charity and its finances. The directors believe that by monitoring reserve levels, by ensuring controls exist over key financial systems and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity has one main objective:
To promote, uphold and advance the principles of the Christian faith.
It pursues this objective through the establishment of services, collaborations with Christian churches and other similar minded organisations in any part of the world rendering support and services to communities and/or persons in need.
Plans for the future
The charity is continually looking for ways of reaching out and spreading the principles of the Christian faith in an effective manner by getting more involved in the local communities in different parts of the United Kingdom and other parts of the world, teaching, providing resources and actively supporting existing and initiating new activities and programmes.
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FRESH INSPIRATION
Report of the Trustees for the year ended 30 November 2020
The year was challenging due to the COVID pandemic and the lockdown. Most of our conventional programmees were cancelled , but we reinvented engagement through online channels, videos and podcasts.
FRESH INSPIRATION TEACHING
Fresh inspiration continued teaching the truth of the gospel making use of online channels during the pandemic and adapted the programmes to different audiences. The programmes started during the year are:
Faith Builders Masterclass: A Saturday morning class focused on faith maturity and God's promises.
Fresh Insights l Lunch & Learn: is a Wednesday lunchtime platform for believers to share their experiences in workplace and how their faith has strengthened them through the journey thereby encouraging one another.
Marriage Seminars & Counselling
Due to the lockdown, we could only hold one marriage seminar in March 2020. The seminar was themed 'Beyond 2 of us' to enlighten couples that what happens in marriages have impact on other people outside the marriage, it impacts the couples and the children and possibly the generations after. We continue delivering the counselling service via Zoom.
COMMUNITY ENGAGEMENT
The year was challenging due to the COVID pandemic and the lockdown. Most of our conventional programmmees were cancelled , but we reinvented community engagement through our online events.
On the Couch: We introduced "On the Couch" a conversation programme on topical issues. We held four of these in the year. The topics covered include, Race issues and the next generations, Vaccination questions answered, Education system impact on the minority ethnics and Mental health.
Fresh Youth Mk: As part of the outcome of "On the Couch", Fresh Youth MK was started to address the issues of Youth unemployment, education attainment and business opportunities.
INTERNATIONAL PARTNERSHIPS
The International missions work expanded into 3 more countries, Liberia, Sierra Leone and Nigeria. With the pandemic hitting very hard on the resources and health of some beneficiaries of our partners
With prayers and counselling for all our partners and through the sacrificial giving of our charity donors, we were able to provide support to our international partners
FRESH INSPIRATION BIBLE INSTITUTE
FI Bible Institute started in May 2019 as a modular flexible curriculum. The Bible Institute continues into the second year and the first set graduated with certificate in Biblical Studies. The number of students doubled in the second academic year. During lockdown, the programme continued online via Live Zoom distance learning rather than in person.
Thanks And Appreciation
We are particularly thankful to the charity donors, the team and volunteers who have been so generous in their sacrificial contributions of time, efforts and finances to the ongoing work to see lives touched and changed for the better in the year.
Approved by order of the board of trustees on 29 August 2021 and signed on its behalf by
A O Komolafe - Trustee
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FRESH INSPIRATION
Statements of Financial Activities for the year ended 30 November 2020
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment Income Total EXPENDITURE ON Raising funds Charitable activities Charitable activities Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2020 2019 Unrestricted Restricted Total Total fund fund funds funds £ £ £ £ 23136 6000 29136 23926 4 - 4 2 |
|---|---|
| 23140 6000 29140 23928 12393 0 12393 13560 9402 - 9402 8254 |
|
| 21795 0 21795 21814 |
|
| 1345 6000 7345 2114 12228 - 12228 10114 |
|
| 13573 6000 19573 12228 |
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities
The notes form part of these financial statements
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FRESH INSPIRATION
Balance Sheet At 30 November 2020
| Notes FIXED ASSETS Tangible assets 8 CURRENT ASSETS Debtors Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted Restricted fund fund £ £ 2224 - 0 - 11649 6000 |
2020 2019 Total Total funds funds £ £ 2224 2181 0 - 17649 10047 |
|---|---|---|
| 13873 6000 300 - |
19873 12228 300 0 |
|
| 13573 6000 |
19573 12228 |
|
| 13573 6000 |
19573 12228 |
|
| 13573 6000 |
19573 12228 |
|
| 13573 12228 6000 - |
||
| 19573 12228 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2020
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 30 November 2020 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Section 386 and 387 of the Companies Act 2006 and
-
(b) 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 Section 394 and 395 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.
The financial statements were approved by the board of trustees on 29 August 2021 and wre signed on its behalf by
A O Komolafe - Trustee
The notes form part of these financial statements
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FRESH INSPIRATION
Notes to the Financial Statements For the year ended 30 November 2020
1. ACCOUNTING POLICIES
Basis of preparing the 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 UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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 cost cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & equipment 10% on Cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the director.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restriction arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. ACTIVITIES FOR GENERATING FUNDS
| Donations Other income Gift 3. INVESTMENT INCOME Deposit account interest |
2020 2019 £ £ 18010 14803 11126 9123 - - |
|---|---|
| 29136 23926 |
|
| 2020 2019 £ £ 4 2 |
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FRESH INSPIRATION
Notes to the Financial Statements for the year ended 30 November 2020
4. NET INCOMING/(OUTGOING) RESOURCES
Net resources are stated after charging/(crediting)
| Depreciation - owned assets Deficit on disposal of fixed asset 5. RAISING FUNDS Raising donations and legacies Support costs 6. TRUSTEES'S REMUNERATION AND BENEFITS |
2020 2019 £ £ 307 272 - - |
|---|---|
| 2020 2019 £ £ 9402 8256 |
|
| 2020 2019 £ £ - - |
There were no trustees expenses paid for the year ended 30 November 2020 nor for the year ended 30 November 2019
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 7. STAFF COSTS The average monthly number of employees during the |
year was as follows: | |
|---|---|---|
| 2020 | 2019 | |
| Administration | - | - |
8. TANGIBLE FIXED ASSETS
| Cost At 1 December 2019 Additions Depreciation At 1 December 2019 Charge for year NET BOOK VALUE At 30 November 2020 At 30 November 2019 |
Fixtures & Computer Totals Equipment £ £ £ 2725 0 2725 350 0 350 |
|---|---|
| 3075 0 3075 |
|
| 544 - 544 307 - 307 |
|
| 851 - 851 |
|
| 2224 - 2224 |
|
| 2181 - 2181 |
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FRESH INSPIRATION
Notes to the Financial Statements for the year ended 30 November 2020
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|
| Accruals and deferred income 10. MOVEMENT IN FUNDS At 1.12.19 £ Unrestricted funds General fund 12228 Restricted fund Building fund - TOTAL FUNDS 12228 Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Building fund TOTAL FUNDS |
At 1.12.19 £ 12228 - |
Net movement in funds £ 1345 6000 |
2020 2019 £ £ 300 - |
| Transfers between At funds 30.11.20 £ £ - 13573 - 6000 |
|||
| 12228 | 7345 | - 19573 |
|
| Incoming resources £ 23140 6000 |
Resources Movement expended in funds £ £ (21795) 1345 0 6000 |
||
| 29140 | (21795) 7345 |
11. RELATED PARTY DISCLOSURES
There are no related party transactions for the year ended 30 November 2020
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FRESH INSPIRATION
Detailed Statement of Financial Activities for the year ended 30 November 2020
| INCOME AND ENDOWMENTS Donations Gifts Other Income Deposit interest EXPENDITURE Raising donations and legacies Missions Seminars Others Charitable activities Advert & promotions Telephone Post & stationery Bank charges Grants & awards Insurance Rent Support costs Human Resources Wages Social security Others Travel Depreciation Refreshments Governance costs Legal & professional fees Total Resources expended Net income/(expenditure) |
2020 2019 £ £ 18010 14803 0 - 11126 9123 4 2 |
|---|---|
| 29140 23928 |
|
| 7808 4137 4132 4537 453 4886 |
|
| 12393 13560 1339 686 499 244 928 382 30 30 1905 1905 285 161 3734 4498 |
|
| 8720 7906 0 0 0 0 |
|
| 0 0 0 76 307 272 0 0 |
|
| 307 348 375 0 |
|
| 375 0 |
|
| 21795 21814 |
|
| 7345 2114 |
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FRESH INSPIRATION
Independent Examiner's Report to the Trustees
I report to the Charity Trustees on my examination of the accounts of the company for the year ended 30 November 2020
Responsibilities and basis of report
As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act")
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011("the 2011 Act"). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe
-
1 accounting records are not kept in respect of the Company as required by section 386of the 2006 Act or
-
2 the accounts do not accord with those records, or
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3 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirements that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
4 the accounts have not been prepared in accordance with the method and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in other to enable a proper understanding of the accounts to be reached.
Mr O Obidipe
30 August 2021
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