REGISTERED COMPANY NUMBER= 05614837 (England and Walesl REGISTERED CHARITY NUM8ER= 1117603 Report of the Trustees and Unaudlted Flnanclal Statements forthe Year Ended 30 November ZOZ2 FRESH INSPIRATION
FRESH INSPIRATION Contents ol the Flnanclal Statements lor the year ended 30 November 2022 Page Report of the Trustees Ito2 Independent Examiner's Report Statements of Financial Activities Balance Sheet Notes to the Financial Statements 6t08 Detailed Statement of Financial Activities
FRESH INSPIRATION Report of the Trustees for the year ended 30 November 2022 ThÈ trustÈÈs who is also directors of the charity forthe purposes of thÈ Companies Act 2006, prÈsÈnt their report with the financial statemÈnt of the charity for thÈ year ended 30 November 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities.. StatemÈnt of Recommended Prartice applicablÈ to ch3ritiÈs preparing their accounts in accord3ncÈ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 05614837 (England and Wales) Reglstered Charlty number 1117603 Reglstered office Margaret Powell House Midsummer Boulevard Milton Keynes. England MK9 3BN Trustees F O Komolafe A PinhÈrio U20 Nwuga Celia Kruse R Williams Resigned 31 December 2021 Company Secretary F O Komolafe STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng document FrÈsh Inspiration Is a charitablÈ company limited by guarantee. It is governed by a Memorandum and Articles of Association and controllÈd by the Directors for thÈ purpose of company law. Prlnclpal Actlvltv The principal activity of the company in the year under review was the advancement of the Christian faith. Rlsk management The trustÈÈs 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 bÈliÈvÈ that by monitoring resÈrve levels, by ensuring controls Èxist over kÈy financial systems and by examining thÈ opÈr3tion31 and business risks fated by the charity, they h3vÈ established ÈffectivÈ systems to mitigatÈ those risks. oBJEIVEs AND ACTIVITIES Oblectlves and alms The charity has one main objective.. To promote, uphold and advance the principles of the Christian faith. It pursues this objectivÈ through the establishment of sÈrvites, collaborations with Christian thurthes and other similar mindÈd organisations in any part of the world rendering support and servicÈs to communities and/or pÈrsons in nÈed. Plans for the future The charity is continually looking for ways of reaching out and spreading the principlÈs of the Christian faith in an effÈctive manner by getting more involved in the local communities in diffÈrent parts of thÈ United Kingdom and other parts of the world, teathing, providing resources and actively supporting existing and initiating new activities and programmes. Page I
FRESH INSPIRATION Report ol the Trustees lor the year ended 30 November 2022 As an organisation we are determinedto be responsive to the needs of people and rÈspectful to 311. WÈ have evolved and respondÈd to the needs of our community. We continue to deliver our services through vitual channÈls and in person to drive the vision and obiÈctives of Fl. We continue to grow our rÈach through the teaching, podcasts, vidÈos, blogs ans seminars We returned to conventional programmes and are determined to serve using all available channels. FRESH INSPIRATION TEACHING Fresh inspiration continued teaching the truth of the gospel making use of both online channels and in person. Attratting new demographic of audience, so the programmÈs are adaptÈd to get the messagÈ through and be relevant to the audiences. In the yÈar we produced 20 teachings on Fl podcast in 2022. The podcasts were made available on sÈveral platfors including Apple, Spotify and Bu2zsprout. OvÈr 200 minutes of video recordings of teachings are on our YoutubÈ channel this year. Falth Bullders Mastertlass= A monthly Saturday morning class focusÈd 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 grÈat testinoniÈs from the partakers. There wÈre 7 enlightening and transformational morning mettings in 2021.. 83 Unique Attendees across all the Faith Builders meetings. Fresh Inslghts l Lunch & Learn= is a Wednesday lunchtimÈ platform for network of professional believers to share their ÈxpÈriÈncÈ in the workplace and how their faith has strengthened thÈm through thÈ journey thereby encouraging on@ 3nothÈr. There werÈ 17 exciting and engaging LunchtimÈ MÈÈtings in 2022- 212 Unique AttendeÈs Across All Fresh Insight Meetings. The broad range of topics were relevant and enlightening. Marrlage Semlnars & Counselllng We did not hold a marriagÈ seminarin the year. but WÈ delivered 2 7-week marriage courses in February and November. We also continue delivering the councelling service virtually via Zoom and in person. INTERNATIONAL PARTNERSHIPS The International missions work in 5 more countries, Kenya IHOYWIKI, Uganda IWIED and Dreams Children's Homel, NigerialCDLII Liberia and Sierra LÈone continues. We had a mission trip with 3 team of 12 volunteers to Sierra Leone in November. It was a vÈry productive trip. doors of opportunity to impact lives opened up and God is glorified. The needs of our partners, bÈnÈfiti3ries are growing, but we continued to support by providing healthcare, Èducation, feeding, s3fÈ living environment and training. This was made possible through the sacrificial giving of our donors, coupled with prayers and counselling. FRESH INSPIRATION BIBLE INSTITUTE F181 startÈd in 2019 with 12 studÈnts. Today, WÈ have 72 graduates of Certificate in 8iblic31 Studies and 16 graduates of Certificate in Ministry Foundation. We currently have 15 students studying for Certificate In Biblital Studies and 9 for CÈrtific3tÈ in Ministry Foundation. We engage the communities through our missions and evangelism projects both locally and intÈrnationally. ThÈ Year I students organised strÈet evangelism projects across their localities in the UK and abroad. Year 2 students tarried out evangelism training and street outreach in North London. Thanks And Appretlatlon We are particularly thankful to the charity donors. the team and volunteers who have bÈÈn 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 2023 and signed on its behalf by U. Nwuga - Trustee Page 2
FRESH INSPIRATION Statements of Flnanclal Artlvhles lor the year ended 30 November 2022 2022 2021 Unrestrlcted Remrlrted fund fund Total funds Total funds Notes INCOME AND ENOOWMENTS FROM Donations and legacies Investment Income 25346 28653 53999 76688 35 35 Total 25381 28653 54034 76690 ExPENDVREoN Raising funds Charltable actlvltles 8005 12232 20237 14233 16169 33549 49718 27186 Total 24174 45781 69955 41419 NET INCOMEIIEXPENDITUREI 1207 -17128 -15921 35271 RECONCILIATION OF FUNDS Total funds brought forward 65276 17494 82770 47499 TOTAL FUNDS CARRIED FORWARD 66483 366 66849 82770 CONTINUING OPERATIONS All income and expÈnditurÈ has arisen from continuing activities The notes form part of these financial statements Page 4
FRESH INSPIRATION Balance Sheet At 30 November 2021 zozz 2021 Unrestrlcted Remrlrted fund fund Total funds Total funds Notes FIXED ASSETS Tangible assets 4400 4400 1917 CURRENT ASSETS Debtors Cash at bank 23837 10936 34773 53127 28237 10936 39173 55044 CREDITORS Amounts falling due within one year 250 250 200 NET CURRENT ASSETS 27987 10936 38923 54844 TOTAL ASSETS LESS CURRENT LIABILITIES 27987 10936 38923 54844 NET ASSErs 27987 10936 38923 54844 FUNOS Unrestricted funds Restritted funds io 38557 37350 366 17494 TOTAL FUNDS 38923 54844 ThÈ charitable company is Èntitled to exemption from audit under Settion 477 of the Companies Act 2006 for the yÈar ended 30 November 2022 ThÈ members have not required the charitable company to obtain an audit of its financial statements forthe year Ènded 30 November 2022 in accordance with Settion 476 of thÈ Companies Act 2006. The dirÈttors acknowledge their responsibilities for lal ensuring that thÈ charitable company keeps accounting records that comply with Settion 386 and 387 of the Companies Act 2006 and Ibl preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at thÈ end of each financial year and of Its surplus or dÈfitit for each financial year in accordance with thÈ rÈquirements of Section 394 and 395 which otherwise comply with the requirÈments of the Companies Act 2006 relating to financial statements, so far as appIlble to thÈ charitable Company. ThÈse financial statements havÈ been prepared in accordance with the special provisions of Part 15 of the Companies Att 21K)6 relating to small charitable companies. The financial statements were approved by the board of trustees on 29 August 2023 and wre signed on its behalf by U Nwuga- Trustee The notes form part of these financial statements Page 5
FRESH INSPIRATION Notes to the Flnanclal Statements Forihe year ended 30 November 2022 I. ACCOUNTING POLICIES Basls of preparlng the financlal statements The financial statements of the charitablÈ Company, which is a public benefit entity under FRS 102,h3ve been prepared in accord3ntÈ with the Charities SORP IFRS 1021'Accounting and Reporting by Ch3ritiÈs.' StatÈment of RecommÈnded Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffertive l January 20151,, Financial Reporting Standard L02'The Financial Reporting Standard applicable in UK and Republic of IrÈland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognisÈd in the StatemÈnt of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be receivÈd and thÈ amount tan be measured reliably. Expendliure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charitv to that expenditure, it is probable that a transfer of economic benefits will be required in sÈttlement and the amount of the obligation can be measured reliably. ExpÈnditure is actountÈd for on an accruals basis and has beÈn classified under headings that aggregate all cost relatÈd to the c3tÈgory. WherÈ cost cannot be directly attributed to particular headings they have been allOted to activities on a basis consistent with the use of resources. Tanglble fixed assets Depreciation is provided at the following annual rates in order to write off Èach asset over its estimated useful Fixtures & ÈquipmÈnt Computer equipment IO% on Cost 25% on Cost Taxatlon The charity is exÈmpt from corporation tax on its charitable attivities. Fund accountlng Unrestricted funds can be used in accordance with the charitable objettives at the discretion of the director. RestrittÈd funds can only be used for particular restritted purposes within the objetts of the charitv. Restrittion arise when spÈcified bythe 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. A1VITIEs FOR GENERATING FUNDS zozz 2021 Donations Other Income Gift 21037 32962 19324 46621 L0743 53999 76688 INVESTME INCOME zozz 2021 Deposit attount interest 35 Page 6
FRESH INSPIRATION Notes to the Flnanclal Statements lor the year ended 30 November 2022 NET INCOMINGIIOUTGOINGI RESOURCES Net resources are stated after chargingllcreditingl zozz 2021 Depreciation owned assets Deficit on disposal of fixed asset 772 307 RAISING FUNDS Raising donations and legacies zozz Z021 Support costs 48796 26779 TRUSTEES'S REMUNERATION AND BENEFITS zozz 2021 There were no trustees Èxpenses paid for the year ended 30 NovÈmbÈr 2022 nor for the year ended 30 November 2021 STAFF COSTS ThÈ average monthly number of employees during the year was 4. 12021- 11 zozz 33549 2021 18726 Administration TANGIBLE FIXED ASSET5 FIreS & Computer Equlpment Totals Cost At l December 2021 Additions 3075 3075 2327 928 3255 5402 928 6330 Depreclatlon At l DetÈmbÈr 2021 Charge for year 1158 1158 540 L698 232 232 772 L930 NET BOOK VALUE At 30 November 2022 At 30 November 2021 3704 696 4400 L917 L917 Page 7
FRESH INSPIRATION NeS to the Flnanclal Statements lor the year ended 30 November 2022 CREOITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR zozz 2021 Accruals and dÈferred income 250 200 io. MOVEMENTIN FUNOS Net Transfers between funds movement At At 1.12.21 In funds 30.11.22 Unrestrltted funds GÈneral fund 37350 1207 38557 Restrlcted fund Missions fund 17494 -17128 366 TOTAL FUNDS 54844 -15921 38923 Net movement in funds, included in the above are as follows.. Incomlng Resources Movement resources expended In funds Unrestrltted funds GÈneral fund 25381 1241741 1207 Restrlrted funds Missions fund 28653 1457811 -17128 TOTAL FUNDS 54034 1699551 -15921 ii. RELATED PARTY DISCLOSURES There are no related party tr3ns3ttions for the year ended 30 November 2022 Page 8
FRESH INSPIRATION Dalled Statement of Flnanclal Actlvliles lor the year ended 30 November 2022 zozz 2021 INCOME AND ENDOWMENTS Donations Gifts Other Income 21037 19324 10743 32962 46621 Deposit interest 35 54034 76690 EXPENDITURE Ralslng donatlons and legacles Missions 12232 10631 Seminars Others 2915 1556 5090 2046 20237 L4233 Charltable actlvliles Advert & promotions TelephonÈ Post, StationÈry & IT Bank charges Grants & awards Insurance 640 1800 293 3461 2932 87 30 4980 450 269 285 Rent 3759 3104 14996 7100 Support costs Human Resources Wages 25454 15913 8095 2813 33549 18726 Others Travel General expenses DÈpreciation RefrÈshments 450 772 307 195 772 952 Governante costs LÈgal & professional fees 401 408 401 408 Total Resources expended 69955 41419 Net Incomellexpendlturel -15921 35271 Page 9
FRESH INSPIRATION Independent Examlner'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 2022 Responslbllltles and basls ol report As the charity's trustÈÈs of the company13nd also its direttors forthe purposes of comp3ny13wl you arÈ responsible for the prÈparation of thÈ accounts in accordance with the requirÈments of thÈ Companies Act 20061"the 2006 Act") Having Satisfied myself that the accounts of the company are not requirÈd to be audited under Part 16 of the 2006 Att and are eligible for independÈnt Èxamination. I report in respect of my Èxamination of your charity's accounts as tarried out under section 145 of the CharitiÈs Act 20111 the 2011 Act"). In tarrying out my examination I have followed the DirÈctions given by thÈ Charity Commission undÈr settion 14515llbl of the 2011 Act. Independent examlner's Aatement I have completed my examination. I confirm that no matters have come to my attention in connettion with my Èxamination giving MÈ cause to believe l accounting records are not kept in respett of the Company as required by Settion 386of thÈ 2(K)6 Act or 2 the accounts do not accord with those records, or 3 the accounts do not comply with the accounting requirÈments of section 396 of the 2006 Act other than any requirements that the accounts givÈ 3 true and fair view which is not a matter considered as part of an independent examination,. or 4 the accounts h3vÈ not beÈn prepared in accord3ncÈ with the mÈthod and principles of thÈ Statement of RecommÈnded Practice for accounting and reporting by charities lapplitable to charities preparing their accounts in 3ccord3ncÈ with the Financial Reporting Standard applicable in the UK and RÈpublic of Ireland IFRS 10211 I have no concerns and have come across no other matters in connertion with the examination to which attention should be drawn in this report in other to enable a proper understanding of the actounts to be reached. Mr O Obidipe 30 August 2023 Page 3