## **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
- (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 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
- 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 2024
Page 3