REGISTERED COMPANY NUMBER: 06240149 (England and Wales) REGISTERED CHARITY NUMBER: 1123745
Report of the Trustees/Directors and Financial Statements for the year ended 31st May 2022 For KINGDOM BUILDERS FAMILY
DTT Consultancy Ltd 36 Daffodil Close Hatfield Hertfordshire AL10 9FF
KINGDOM BUILDERS FAMILY
Contents of the Financial Statements For the year ended 31 May 2022
| Page | |
|---|---|
| Report of the Trustees/Directors | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 9 |
KINGDOM BUILDERS FAMILY
Report of the Trustees For the year ended 31 May 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 May 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 06240149 (England and Wales)
Registered Charity number
1123745
Registered office
37 Buckle Close Luton Bedfordshire LU3 3SZ
Trustees/Directors
Pastor Kunle Adetola Pastor D Ogunniyi Mr B Bello Mrs A Dada
Independent Examiner
Tunji Ogedengbe 36 Daffodil Close Hatfield Hertfordshire AL10 9FF
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational structure
The church is organised so that the trustees meet regularly to manage its affairs. There is a volunteer office administrator, who manages the day to day administrations of the church.
Related parties
RCCG Kingdom Builders is a member of Redeemed Christian Church of God (RCCG) which has Parishes all over the world. The relationship is governed by an Agreement for common purposes between the Parishes and RCCG.
Risk management
The Trustees/Directors have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 1
KINGDOM BUILDERS FAMILY
Report of the Trustees For the year ended 31 May 2022
FINANCIAL REVIEW
The financial activities for the year shows a profit of £13,120 and net asset amounted of £27,027.
Reserves policy
The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets. The free reserves held by the church should be 3 months of annual expenditure. At this level, the trustees feel that would be able to continue the current activities of the church in the event of significant drop in funding. Principal funding sources
Principal Funding
This is provided mainly through voluntary tithes and offerings by the church members and through gift aid scheme. Pledges are also taken for specific projects.
FUTURE DEVELOPMENTS
The church will continue to explore various ways of spreading the gospel of Christ in an affective manner. The charity is also looking to grow in membership and continue to develop its members to make life - changing impact in society, plant more parishes and due to the increase in the number of members, our future plan is to accommodate those members and likely additional.
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees (who are also the directors of RCCG - Kigdom Builders Family) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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=- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by Directors on 28th Jan 2023 and signed on their behalf by:
Pastor Kunle Adetola Director
Page 2
KINGDOM BUILDERS FAMILY
INDEPENDENT EXAMINNERS REPORT FOR THE YEAR ENDED 31 MAY 2022
I report on the financial statements of Kingdom Builders Family for the year ended 31 May 2022 which comprise the statement of financial activities, the balance sheet, and the related notes. These financial statements have been prepared under the historical cost convention and the accounting policies set out therein.
Respective responsibilities of trustees and independent examiner
As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act),as amended by s.28 of the Charities Act 2006 does not apply. It is my responsibility to examine accounts under section 43 of the Act, as amended, to follow procedures specified in the General Directions given by the Charity Commissioners under section 43(7)(b) of the Act, as amended, whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with the General Directions given by the Charities Commissioners. 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(i) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or
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(ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Tunji Ogedengbe 36 Daffodil Close Hatfield AL10 9FF
28th Jan 2023
Page 3
KINGDOM BUILDERS FAMILY
Statement of Financial Activities
For the year ended 31st May 2022
| Notes INCOMING RESOURCES Donations, legacies & similar incomeing resources 2 Activities in futherance of charity's objectivies 3 Gift aid 4 Grants 5 Total incoming resources RESOURCES EXPENDED Grants Payable - Individual 5 Grants Payable - Institutional 6 Cost of Activities in furtherance of charities objects 7 Management and governance costs 8 Total resources expended NET INCOMING RESOURCES Prior Year Adjustment Total funds at the start of the year TOTAL FUNDS CARRIED FORWARD |
2022 Unrestricted Restricted Total Funds Funds Funds £ £ £ 72,105 - 72,105 - - 21,930 21,930 - 17,120 94,035 - 94,035 - - 5,200 - 5,200 96,375 96,375 5,580 5,580 107,155 - 107,155 13,120 - - 13,120 - - 40,147 - 40,147 27,027 - 27,027 |
2021 Total Funds £ 61,738 - 13,201 17,120 |
|---|---|---|
| 92,059 | ||
| - 1,200 82,824 3,288 |
||
| 87,312 | ||
| 4,747 - 35,400 |
||
| 40,147 |
Movements in reserves and all recognised gains and losses are shown above
The company's incoming resources and resources expended all relates to continuing activities
Page 4
KINGDOM BUILDERS FAMILY Balance Sheet
At 31 May 2022
| 2022 Total Funds Notes £ FIXED ASSETS Tangible assets 9 3,092 CURRENT ASSETS Cash and bank balances 10 21,285 Debtor 11 3,000 24,285 CREDITORS Amounts falling due within one year 12 350 TOTAL ASSETS LESS CURRENT LIABILITIES 27,027 CREDITORS Amounts falling due after more than one year 13 - NET ASSETS 27,027 CHARITY FUNDS Unrestricted funds 27,027 Restricted funds - TOTAL FUNDS 27,027 |
2021 Total Funds £ 4,123 36,374 - |
|---|---|
| 36,374 350 |
|
| 40,147 - |
|
| 40,147 | |
| 40,147 - |
|
| 40,147 |
Page 5
KINGDOM BUILDERS FAMILY
Balance Sheet - continued At 31st May 2022
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 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 Sections 394 and 395 and 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 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The financial statements were approved by the Board of Trustees on 26th Jan 2022 and were signed on its behalf by:
………………
Pastor Kunle Adetola Director
28th Jan 2023
Page 6
KINGDOM BUILDERS FAMILY
Notes to the Financial Statements For the year ended 31st May 2022
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP).
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Fixed Assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Musical equipments 25% on reducing balance Fixtures and fittings 25% on reducing balance Computer equipments 25% on reducing balance Motor vehicles 25% on reducing balance
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 trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions 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. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCE Tithe, Offering and Thanksgiving Welfare 3. ACTIVITIES IN FURTHERANCE OF CHARITY'S OBJECTS Building offering 4. GIFT AID Gift aid 5. GRANTS Love Your Neighbour Lottery |
Unrestricted Funds |
Restricted Funds |
Total Funds |
Total Funds |
|---|---|---|---|---|
| 2022 | 2022 | 2022 | 2021 | |
| S £ |
£ | £ | £ | |
| 72,105 | - | 72,105 | 61,688 | |
| - | - | - | 50 | |
| 72,105 - |
72,105 | 61,738 | ||
| £ £ |
£ - |
£ - |
||
| £ £ £ £ |
||||
| 2022 | 2021 | |||
| £ 21,930 |
£ 13,201 |
|||
| 21,930 | 13,201 | |||
| 2022 | 2021 | |||
| £ - |
£ 17,120 |
|||
| - | 17,120 |
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KINGDOM BUILDERS FAMILY
Notes to the Financial Statements For the year ended 31st May 2022
| 5. Grants Payable - Individual Individual welfare 6. Grants Payable - Institutional RCCG WEM RCCG COF RCCG FOL 7. Cost of Activities in furtherance of Charity's Objects Visiting speakers expenses Seminars and Conferences Pastor's allowance Motor Expenses - including Fuel Rent and rates, Hall hire Music, liturgy & Church group Missions and evangelism Welfare Telephone Printing, postage and stationery Repairs, renewal and maintenance Worship cost & Church occasion Office Expenses Bank and Finance Training Honorarium Hospitality Cleaning Conference Multimedia Travel Building Zonal Contribution Area Depreciation Gifts & Donation Utilities Insurance Staff cost Sundry expenses Church Equipment Community Project COVID Response |
Unrestricted Funds 2022 |
Restricted Funds 2022 |
Total Funds 2022 |
|---|---|---|---|
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KINGDOM BUILDERS FAMILY
Notes to the Financial Statements For the year ended 31st May 2022
| 8. MANAGEMENT AND GOVERNANCE COST Professional fees- legal Examiner's fees- accountancy Professional fees |
Unrestricted Funds 2022 |
Restricted Funds 2022 |
Total Funds 2022 |
|---|---|---|---|
| £ | £ | £ | |
| - | - | ||
| 350 | - | 350 | |
| 5,230 | - | 5,230 |
9. TANGIBLE FIXED ASSETS
| Cost At 1 June 2021 Additions Disposals At 31 May 2022 Depreciation Acc Dep b/f Charge for year Total depreciation Net Book value At 31 May 2021 At 31 May 2022 |
Motor Musical Computer Furniture & Total vehicles Equipment Equipment Fittings 2019 |
Motor Musical Computer Furniture & Total vehicles Equipment Equipment Fittings 2019 |
Motor Musical Computer Furniture & Total vehicles Equipment Equipment Fittings 2019 |
Motor Musical Computer Furniture & Total vehicles Equipment Equipment Fittings 2019 |
Motor Musical Computer Furniture & Total vehicles Equipment Equipment Fittings 2019 |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| 1,055 | 16,410 | 5,045 | 5,499 | 28,009 | |
| - | |||||
| - | |||||
| 1,055 | 16,410 | 5,045 | 5,499 | 28,009 | |
| 996 | 13,419 | 4,572 | 4,899 | 23,887 | |
| 15 | 748 | 118 | 150 | 1,031 | |
| 1,010 | 14,167 | 4,691 | 5,049 | 24,917 | |
| 59 | 2,991 | 473 | 599 | 4,123 | |
| 45 2,243 355 450 3,092 |
| 10. CASH BALANCES Cash Balance held in all current accounts at period end 11. Debtors Loan ` 12. CREDITORS Accrual |
Year Ended 31-May 2022 |
|---|---|
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