2023-12-31-accounts

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REGISTERED CHARITY NUMBER: 1122713

OVERCOMERS FAMILY CHURCH INTERNATIONAL

REPORT AND FINANCIAL STATEMENT FOR THE (UNAUDITED)

YEAR ENDED 31[ST] DECEMBER 2023

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 2023. 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 deficit for the year amounting to £10,560 . (2021 surplus: £1,688).

Approval

The report was approved by the board of trustees on …………… 2024 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 2023 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 2023 Incorporating the Income and Expenditure Account

Note Incoming Resources Incoming resources from generated funds 2 Voluntary income Gift Aid - Accrued 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 Mission 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 2023	2023 £ 43,200 11,843 154 55,197 20,756 23,800 - 176 4,723 310 380 545 649 5,103 1,519 2,000 565 1,100 - 148 1,482 2,001 65,257 500 65,757 (10,560) (10,560)	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

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

Balance Sheet as at 31st December 2023

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	14,243 7,964	2023 £ 14,687 21,707 36,394 46,954 (10,560) 36,394	2022 £
			6,611 18,625 22,218
	22,207 (500)		40,843 (500)
			40,343
			46,954
			45,266 1,688
			46,954

The financial statements were approved by the Trustees on ……………2024 and signed on their behalf by:

Pastor George Owusu

Trustee

Notes to the financial statements for the year ended 31st December 2023

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 2023

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 £ 43,200 11,843 55,043	Restricted Funds £ - - -	Total funds 2023 £ 43,200 11,843 55,043	Total funds 2022 £
				59,107 13,625
				72,732

Notes to the financial statements for the year ended 31st December 2023

3. Governance costs

Accountancy fees	2023 £ 500.00 500.00	2022 £
		500.00
		500.00

4. Tangible fixed assets

Cost At 1st January 2023 Additions At 31st December 2023 Depreciation At 1st January 2023 Charge At 31st December 2023 Net book value 2023 Net book value 2022 5. Debtors	CHURCH VAN £ 6,600 - 6,600 5,958 161 6,119 481 642	Fixtures & Fittings £ 3,962 - 3,962 2,409 101 2,510 1,452 1,553	Church equipment £ 18,562 10,077 28,639 14,146 1,739 15,885 12,754 4,416	Total £
				29,124 10,077
				39,201
				22,513 2.001
				24,514
				14,687
				6,611

Members Loans HMRC – Gift Aid claimed	2023 £ 2,400 11,843 14,243	2022 £
		5,000 13,625
		18,625

Notes to the financial statements for the year ended 31st December 2023

6. Creditors – amounts falling due within one year

Other creditors and accruals	2023 £ 500.00 500.00	2022 £
		500.00
		500.00

OVERCOMERS FAMILY CHURCH INTERNATIONAL

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 2023 Incorporating the Income and Expenditure Account

Balance Sheet as at 31st December 2023

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