## **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.
Page 1
## **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
Page 2
## **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
Page 4
## **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
Page 5
## **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|
Page 6
## **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|
Page 7
## **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
Page 8
## **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**|
Page 9
## **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
- 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
Page 3