2022-12-31-accounts

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

REGISTERED CHARITY NUMBER: 1122713

OVERCOMERS FAMILY CHURCH INTERNATIONAL

REPORT AND FINANCIAL STATEMENT FOR THE (UNAUDITED)

YEAR ENDED 31[ST] DECEMBER 2022

Page CONTENTS 1 Charity information 2 Independent Examiner’s report 3 Income and Expenditure Account 4 Balance Sheet 5 Notes to the Accounts 6 – 9

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1122713

Registered office

88 Century Avenue Old brook Milton Keynes MK6 2UH

Trustees

Pastor George Owusu Miss Ellica Hansson Ambruse Addo Nana Osei Sarfo Anthony Osei Badu

Accountants

J & T Lexington Services Limited 8 Holme Close Redhill Grange Wellingborough NN9 5YF

Trustees’ Report

The Trustees have pleasure in submitting their report, and accounts for the year ended 31st December 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 8, and comply with the statement of recommended practice.

Constitution, objective of the charity, principal activity.

The charity is governed under a constitution adopted on 1[st] December 2007 with UK registered charity no. 1122713.

The objectives of the charity:

➢ To advance the christian faith in accordance with the statement of faith in such ways and in such parts of the united kingdom or the world as the trustees from time to time may think fit.
➢ To relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind, including through the provision of counselling and support in such parts of the united Kingdom or the world as the trustees from time to time may think fit.
➢ To advance education in such ways and in such parts of the united Kingdom or the world as the trustees from time to may think fit.
➢ To reform and rehabilitate persons who are for the time being or who have at any time been drug addicts, in particular by provision of advice, information and support.

The ministry is involved in Christian outreach programmes designed to increase Christian awareness and spread the gospel of our Lord Jesus Christ.

Review of the financial position

The charity made a surplus for the year amounting to £1,688. (2021 surplus: £9,716).

Approval

The report was approved by the board of trustees on …………… 2023 and signed on their behalf by:

________ Pastor George Owusu

Independent Examiner’s Report to the Trustees of Overcomers Family Church International

I report on the accounts for the year ended 31st December 2022 set out on pages four to nine

Respective responsibilities of trustees and examiner

The trustees of the charity are responsible for the preparation of the accounts. The charity’s trustee consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act), and that an independent examination is required.

Having satisfied myself that the charity is not subject to audit and is eligible for independent examination, it is my responsibility to:

Examine the accounts under section 145 of the 2011 Act.
Follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act) and
To state whether particular matters have come to my attention.

Basis of Independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statements below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that, in any material respect, the requirements
(2) to keep accounting records in accordance with section 386 and 387 of the Companies Act 2006;
(3) to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice and Reporting by Charities have not been met; or (4) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Joseph Kinuthia C.P.A, DMS, MBA J & T Lexington Services 8 Holme Close Redhill Grange Wellingborough NN9 5YF

Statement of financial activities for the year ended 31st December 2022 Incorporating the Income and Expenditure Account

Note Incoming Resources Incoming resources from generated funds 2 Voluntary income Gift Aid - Accrued Government grants Interest received Total Incoming Resources Resources expended Charitable activities Rent Salaries & Wages Heat, Water & Light Insurance Motor Vehicle expenses Instrumentalist Bank charges Church supply Printing & stationery Conferences & Hospitality expenses Subsistence allowance Repairs & maintenance Gifts & Donations Advertising Telephone & postage Professional fees Depreciation of fixed assets Governance costs 3 Total resources expended Net incoming/ (outgoing) resources Balances carried forward at 31st December 2022	2022 £ 59,107 13,625 - 11 72,743 14,850 20,040 3,203 154 11,609 1,760 458 2,058 359 2,748 4,390 1,057 4,971 531 104 1,339 924 70,555 500 71,055 1,688 1,688	2021 £
		48,774 12,191 11,189 3
		72,157
		17,750 20,040 2,230 804 3,401 - 591 608 23 10,340 4,110 - 2,360 - 495 1,438 878
		61,941 500
		62,441
		9,716 9,716

There were no recognised gains or losses in the year. All activities derive from continuing operations.

Balance Sheet as at 31st December 2022

Note Fixed assets Tangible fixed assets 4 Current assets Debtors 5 Cash at bank and in hand Creditors-amounts falling due within one year 6 Net current assets/(liabilities) Net assets Represented by: Funds of the charity Reserves Net incoming resources	18,625 22,218	2022 £ 6,611 40,343 46,954 45,266 1,688 46,954	2021 £
			6,736 13,191 26,839
	40,843 (500)		40,030 (500)
			39,530
			46,266
			36,550 9,716
			46,266

The financial statements were approved by the Trustees on ……………2022 and signed on their behalf by:

Pastor George Owusu

Trustee

Notes to the financial statements for the year ended 31st December 2022

1. Accounting policies

a) Accounting basis

These accounts have been prepared on the receipts and payments basis under section 42(3) of the Charities Act 1993 and the Statement of Recommended Practice on Accounting by Charities published in March 2008. The adoption of the revised SORP has resulted in reclassification of some items.

b) Incoming resources

i) Voluntary income

Voluntary income is received by way of Tithes offerings, donations and gifts and is included in full in the Statement of Financial Activities when receivable.

ii) Bank interest

Bank interest is included in the income and expenditure account on receipt.

c) Resources expended

All expenditure is accounted for on an accruals basis.

d) Fixed assets and depreciation

Fixed assets are included at cost. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life using the reducing balance method. Depreciation was charged 25% on the Vehicle, and 12.5% on all other assets.

e) Restricted and unrestricted funds

Income received for restricted purposes is included in a separate restricted fund against which appropriate expenditure is allocated. Restricted funds are those funds which represent grants and donations for a specific purpose. Upon full performance of the purpose of the grant, any surplus is then retrievable by the donor. Income generated for the objects of the charity without further specified purpose is allocated to unrestricted funds. Accumulated surpluses may be retained by the church and are expendable at the discretion of the trustees in furtherance of the church’s objects. There were no restricted funds during the year.

Notes to the financial statements for the year ended 31st December 2022

1. Accounting policies (continued)

f) Designated funds

Designated funds are allocated out of unrestricted funds by the trustees for specific purposes. The use of such funds is at the trustees’ discretion. There were no designated funds during the year.

g) Irrecoverable VAT

The church is unable to recover VAT since it does not make taxable supplies. The cost of irrecoverable VAT is not separately analysed in the financial statements.

h) Cash Flow

The church has taken advantage of the exemptions in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small church.

2. Incoming resources from generated funds

Voluntary income Gift Aid accrued	Unrestricted Funds £ 59,107 13,625 72,732	Restricted Funds £ - - -	Total funds 2022 £ 59,107 13,625 72,732	Total funds 2021 £
				48,774 12,191
				60,965

Notes to the financial statements for the year ended 31st December 2022

3. Governance costs

Accountancy fees	2021 £ 500.00 500.00	2020 £
		500.00
		500.00

4. Tangible fixed assets

Cost At 1st January 2022 Additions At 31st December 2022 Depreciation At 1st January 2022 Charge At 31st December 2022 Net book value 2022 Net book value 2021 5. Debtors HMRC – Gift Aid claimed	CHURCH VAN £ 6,600 - 6,600 5,744 214 5,744 642 856	Fixtures & Church Total Fittings equipment £ £ £ 3,962 17,763 28,325 - 799 799 3,962 18,562 29,124 2,301 13,544 21,589 108 602 924 2,409 14,146 22,513 1,553 4,416 6,611 1,661 4,219 6,736 2022 2021 £ £ 13,625 12,191 13,625 12,191	Total £
			28,325 799
			29,124
			21,589 924
			22,513
			6,611
			6,736

Notes to the financial statements for the year ended 31st December 2022

6. Creditors – amounts falling due within one year

Other creditors and accruals	2022 £ 500.00 500.00	2021 £
		500.00
		500.00

OVERCOMERS FAMILY CHURCH INTERNATIONAL

YEAR ENDED 31[ST] DECEMBER 2022

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

Registered office

Trustees

Accountants

Trustees’ Report

Constitution, objective of the charity, principal activity.

The objectives of the charity:

Review of the financial position

Approval

Independent Examiner’s Report to the Trustees of Overcomers Family Church International

Respective responsibilities of trustees and examiner

Basis of Independent examiner’s report

Independent examiner’s statement

Statement of financial activities for the year ended 31st December 2022 Incorporating the Income and Expenditure Account

Balance Sheet as at 31st December 2022

Pastor George Owusu

Trustee

1. Accounting policies

a) Accounting basis

b) Incoming resources

i) Voluntary income

ii) Bank interest

c) Resources expended

d) Fixed assets and depreciation

e) Restricted and unrestricted funds

1. Accounting policies (continued)

f) Designated funds

g) Irrecoverable VAT

h) Cash Flow

2. Incoming resources from generated funds

3. Governance costs

4. Tangible fixed assets

6. Creditors – amounts falling due within one year

7. Financial commitments

Capital Commitments

Operating lease commitments