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 2021 for
FRESH INSPIRATION
FRESH INSPIRATION
Contents of the Financial Statements for the year ended 30 November 2021
| 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 2021
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 2021. 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 Resigned 31 March 2021 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 2021
As an organisation we are determinedto be responsive to the needs of people and respectfut to all. We have evolved and responded to the needs of our community. Despite the pandemic, our services were delivered.We introduced vitual channels to drivethe vision and objectives of FI. We continue to grow our reach through the teaching, podcasts, videos and blogs The COVID -19 lockdown was eased and there was slight improvement in our services to the communities around us and overseas We did not fully return toconventional programmes due to level of restrictions and people's cautiousness in their approach to return to normality, we are determined to serve and we continued in virtual format using various online channels.
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. In the year we produced31 teachings on FI podcast started in 2021. The daily declaration are very well received with messages of thanks and appreciation including words like "I really needed that". In 2021 we celebrated our365th daily declaration. Over 600 minutes of video recordings of teachings this year are on our Youtube channel.
Faith Builders Masterclass: A monthly Saturday morning kickstart class focused on faith maturity and God's promises. The class continued as online. This masterclass has really helped participant in building their faith with reports of great testinonies from the participants. There were 7 enlightening and transformational morning mettings in 2021; 83 Unique Attendees across all the Faith Builders meetings.
Fresh Insights l Lunch & Learn: is a Wednesday lunchtime platform for network of professional believers to share their experience in workplace and how their faith has strengthened them through the journey thereby encouraging one another. There were 12 exciting and engaging Lunchtime Meetings in 2021- 185 Unique Attendees Across All Fresh Insight Meetings. The range of topics were incredible.
Marriage Seminars & Counselling
We did not hold a marriage seminarin the year, but we continue delivering the counselling service virtually via Zoom and in person
INTERNATIONAL PARTNERSHIPS
The International missions work in 5 more countries, Kenya (HOYWIK), Uganda (WIED and Dreams Children's Home), Nigeria(CDLI) Liberia and Sierra Leone. There are various unprecedented challenges that our partners' beneficiaries face, but we are able to continue to support in providing healthcare, education, feeding, safe living environment, and training. This was made possible through the sacrificial giving of our donors, coupled with prayers and counselling. We have not been able to travel for international missions trip to work with our partners on the ground, but we continue to provide prayer and support as needed.
FRESH INSPIRATION BIBLE INSTITUTE
FIBI started in 2019 with 12 students. Today, we have 27 graduates of Certificate in Biblical Studies and 3 graduates of Certificate in Ministry Foundation. We currently have 27 students studying for Certificate in Biblical Studies and 7 for Certificate in Ministry Foundation.
We engage the communities through our missions and evangelism projects both locally and internationally. The Year 1 students ran a virtual F.A,I.T.H concert during the lockdown as part of their learning. This practical evangelism witnessed to over 200 online live viewers. The Year 2 students undertook a missions project reaching out to spouses who had lost loved ones through generosity, hospitality and acts of kindness.
FRESH YOUTH MILTON KEYNES(FYMK)
Youth development is one of the key pillars of FI, developing the next generation of leaders. FYMK started through timely revelation and conviction of a need for development and support for young people in our local community of Milton Keynes and throughout our spheres of engagement. We work in partnership with businesses, community groups, local authorities, and education providers to significantly improve employability and educational outcomes of young people age 16-25 through one to one Mentoring, Empowerment Workshops and Business Exposure.
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 2022 and signed on its behalf by
A. Pinheiro - Trustee
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FRESH INSPIRATION
Statements of Financial Activities
for the year ended 30 November 2021
| 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 |
2021 2020 Unrestricted Restricted Total Total fund fund funds funds £ £ £ £ 35837 40851 76688 29136 2 - 2 4 |
|---|---|
| 35839 40851 76690 29140 3602 10631 14233 12393 8460 18726 27186 9402 |
|
| 12062 29357 41419 21795 |
|
| 23777 11494 35271 7345 13573 6000 19573 12228 |
|
| 37350 17494 54844 19573 |
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 2021
| 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 |
2021 2020 Unrestricted Restricted Total Total fund fund funds funds £ £ £ £ 1917 - 1917 2224 0 - 0 - 34527 18600 53127 17649 |
2021 2020 Unrestricted Restricted Total Total fund fund funds funds £ £ £ £ 1917 - 1917 2224 0 - 0 - 34527 18600 53127 17649 |
|---|---|---|
| 36444 18600 55044 19873 200 0 200 300 |
||
| 36244 18600 54844 19573 |
||
| 36244 18600 54844 19573 |
||
| 36244 18600 54844 19573 |
||
| 37350 13573 17494 6000 |
||
| 54844 19573 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 30 November 2021 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 2022 and wre signed on its behalf by
A Pinheiro - 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 2021
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 |
2021 2020 £ £ 19324 18010 46621 11126 10743 - |
|---|---|
| 76688 29136 |
|
| 2021 2020 £ £ 2 4 |
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FRESH INSPIRATION
Notes to the Financial Statements
for the year ended 30 November 2021
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 |
2021 2020 £ £ 307 307 - - |
|---|---|
| 2021 2020 £ £ 26779 9402 |
|
| 2021 2020 £ £ - - |
There were no trustees expenses paid for the year ended 30 November 2021 nor for the year ended 30 November 2020
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
Administration
| 2021 | 2020 |
|---|---|
| 18726 | - |
8. TANGIBLE FIXED ASSETS
| 8. TANGIBLE FIXED ASSETS | |
|---|---|
| Cost At 1 December 2020 Additions Depreciation At 1 December 2020 Charge for year NET BOOK VALUE At 30 November 2021 At 30 November 2020 |
Fixtures & Computer Totals Equipment £ £ £ 3075 0 3075 0 0 0 |
| 3075 0 3075 |
|
| 851 - 851 307 - 307 |
|
| 1158 - 1158 |
|
| 1917 - 1917 |
|
| 2224 - 2224 |
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FRESH INSPIRATION
Notes to the Financial Statements
for the year ended 30 November 2021
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
|---|---|---|---|---|
| 2021 | 2020 | |||
| £ | £ | |||
| Accruals and deferred income | 200 | 300 |
10. MOVEMENT IN FUNDS
| 10. MOVEMENT IN FUNDS | |
|---|---|
| Unrestricted funds General fund Restricted fund Missions fund TOTAL FUNDS |
Net Transfers movement between At At 1.12.20 in funds funds 30.11.21 £ £ £ £ 13573 23777 - 37350 6000 11494 - 17494 |
| 19573 35271 - 54844 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Missions fund TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 35839 (12062) 23777 40851 (29357) 11494 |
|---|---|
| 76690 (41419) 35271 |
11. RELATED PARTY DISCLOSURES
There are no related party transactions for the year ended 30 November 2021
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FRESH INSPIRATION
Detailed Statement of Financial Activities for the year ended 30 November 2021
| 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 General expenses Depreciation Refreshments Governance costs Legal & professional fees Total Resources expended Net income/(expenditure) |
2021 2020 £ £ 19324 18010 10743 - 46621 11126 2 4 |
|---|---|
| 76690 29140 |
|
| 10631 7808 1556 4132 2046 453 |
|
| 14233 12393 6 1339 293 499 2932 928 30 30 450 1905 285 285 3104 3734 |
|
| 7100 8720 15913 0 2813 0 |
|
| 18726 0 0 0 450 0 307 307 195 0 |
|
| 952 307 408 375 |
|
| 408 375 |
|
| 41419 21795 |
|
| 35271 7345 |
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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 2021
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 2022
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