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← Fresh Inspiration

2023-11-30-accounts

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 2023 for

FRESH INSPIRATION

FRESH INSPIRATION

Contents of the Financial Statements for the year ended 30 November 2023

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 2023

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 2023. 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

Margaret Powell House Midsummer Boulevard Milton Keynes, England MK9 3BN

Trustees

F O Komolafe A Pinherio Uzo Nwuga 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 2023

As an organisation we are determinedto be responsive to the needs of people and respectful to all. We have evolved and responded to the needs of our community. We continue to deliver our services through vitual channels and in person to drive the vision and objectives of FI. We continue to grow our reach through the teaching, podcasts, videos, blogs ans seminars We have returned to conventional programmes and are committed 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. Attracting new demographic of audience, so the programmes are adapted to get the message through and be relevant to the audiences. In the year we produced 15 teachings on FI podcast in 2023. The podcasts were made available on several platforms including Apple, Spotify and Buzzsprout. Over 150 minutes of video recordings of teachings are on our Youtube channel this year.

Faith Builders Masterclass: A monthly Saturday morning 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 partakers. There were 3 morning mettings in 2023 with 71 Unique Attendees across all the Faith Builders mettings.

Fresh Insights l Lunch & Learn: is a Wednesday lunchtime platform for network of professional believers to share their experience in the workplace and how their faith has strengthened them through the journey thereby encouraging one another. There were 9 Lunchtime Meetings in 2023 - 132 Unique Attendees Across All Fresh Insight Meetings. The broad range of topics were relevant and enlightening.

Marriage Seminars & Counselling

We held a marriage seminarin the year, April 2023, there were 38 couples and 4 premarital or engaged to be married couples in attendance. We continue delivering the councelling 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 continues. We did not have any international trips in the year, but we continue to support our partners and work with them to impact lives and bring glory to God. The needs of our partners' beneficiaries are growing, 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.

FRESH INSPIRATION BIBLE INSTITUTE

FIBI started in 2019 with 12 students. Today, we have 98 graduates of Certificate in Biblical Studies and 21 graduates of Certificate in Ministry Foundation. We currently have 13 students studying for a 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.

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 2024 and signed on its behalf by

U. Nwuga - Trustee

Page 2

FRESH INSPIRATION

Statements of Financial Activities

for the year ended 30 November 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations, Gifts and legacies
2
Investment Income
Total
EXPENDITURE ON
Charitable activities
General activities
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2023
2022
Unrestricted
Restricted
Total
Total
fund
fund
funds
funds
£
£
£
£
23819
17673
41492
53999
293
-
293
35
24112
17673
41785
54034
27024
18039
45063
20237
13647
0
13647
49718
40671
18039
58710
69955
-16559
-366
-16925
-15921
15291
366
15657
31578
-1268
0
-1268
15657

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 2023

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		 2023
2022
Unrestricted
Restricted
Total
Total
fund
fund
funds
funds
£
£
£
£
3745
-
3745
4400
0
-
0
-
18703
0
18703
34773		 2023
2022
Unrestricted
Restricted
Total
Total
fund
fund
funds
funds
£
£
£
£
3745
-
3745
4400
0
-
0
-
18703
0
18703
34773
22448
0
22448
39173
450
0
450
250
21998
0
21998
38923
21998
0
21998
38923
21998
0
21998
38923
21998
38557
0
366
21998
38923

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for

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 2024 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 Financial Statements

For the year ended 30 November 2023

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 Computer equipment 25% 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		 2023
2022
£
£
21591
21037
19901
32962
0
0
41492
53999
2023
2023
£
£
293
35

Page 6

FRESH INSPIRATION

Notes to the Financial Statements

for the year ended 30 November 2023

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		 2023
2022
£
£
785
772
-
-
2023
2022
£
£
12662
48796
2023
2022
£
£
-
-

There were no trustees expenses paid for the year ended 30 November 2023 nor for the year ended 30 November 2022

7. STAFF COSTS

The average monthly number of employees during the year was Nil. (2022 - 4)

Administration
8. TANGIBLE FIXED ASSETS
Cost
At 1 December 2022
Additions
Depreciation
At 1 December 2022
Charge for year
NET BOOK VALUE
At 30 November 2023
At 30 November 2022		 2023
2022
0
33549
Fixtures &
Computer
Totals
Equipment
£
£
£
5402
928
6330
130
0
130		 2023
2022
0
33549
5532
928
6460
1698
232
1930
553
232
785
2251
232
2715
3281
696
3745
3704
696
4400

Page 7

FRESH INSPIRATION

Notes to the Financial Statements

for the year ended 30 November 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Accruals and deferred income 450 250

10. MOVEMENT IN FUNDS

10. MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted fund
Missions fund
TOTAL FUNDS		 Net
Transfers
movement
between
At
At 1.12.22
in funds
funds
30.11.23
£
£
£
£
38557
-16559
-
21998
366
-366
-
0
38923
-16925
-
21998

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
£
£
£
24112
(40671)
-16559
17673
(18039)
-366
41785
(58710)
-16925

11. RELATED PARTY DISCLOSURES

There are no related party transactions for the year ended 30 November 2023

Page 8

FRESH INSPIRATION

Detailed Statement of Financial Activities for the year ended 30 November 2023

INCOME AND ENDOWMENTS
Donations
Gifts
Other Income
Deposit interest
EXPENDITURE
Charitable activities
Missions
Seminars
Others
General activities
Advert & promotions
Telephone
Post, Stationery & IT
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)		 2023
2022
£
£
21591
21037
0
0
19901
32962
293
35
41785
54034
37668
12232
4045
2915
3350
5090
45063
20237
338
640
1735
1800
2295
3461
98
87
4520
4980
250
269
3391
3759
12627
14996
0
25454
0
8095
0
33549
0
0
0
0
785
772
0
0
785
772
235
401
235
401
58710
69955
-16925
-15921

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 2023

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

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 2024

Page 3