2023-03-31-accounts

Believers Fellowship and Prayer Ministry

Report and Financial Statements

Year ended: 31[s] [s][t] [t] March 2023

1126684 Charity No:

Contents

Legal and administrative information

Report from the board of Trustees

Report of the Independent examiner

Statement of financial activities Balance sheet

2

Legal and administrative information

Legal status

The organisation is a registered charity and is governed by its constitution.

Pastor in Charge

Pastor Gbenga Olayiwole

Board of Trustees

Mr Oladele Olusesi Mrs Folasade Olayiwole Mrs Aduke Lawanson

Charity number 1126684

Registered Office

7 MARKET LANE EDGWARE HA8 0LP

Independent examiner

Tunji Ogedengbe 36 Daffodil Close, Hatfield Herts AL10 9FF

3

Report of the Trustees for the year ended 31[st] Mar 2023

The Board of Trustees presents their report and the financial statement for the year ended 31[st] Mar 2023.

The Trustees confirmed that the financial statement have been prepared in accordance with the accounting policies set out in page 9 and comply with the charity trust deed and the recommendations of the Statement of Recommended Practice, Accounting and Reporting by Charities and complies with the applicable law.

Principal Objectives and Performances

The organisation is a registered charity and was set up by a Trust Deed executed on the 11[th] August 2008. A summary of the organisation's stated objects is “The Advancement of the Christian Faith Worldwide and relief of poverty".

The mission statement guiding our work is to:

Help all people move towards whole person maturity, and to build a church where friendship, trust, and loyalty are valued.

Board of trustees

The organisation is governed by a Board of Trustees headed by Mrs Folashade Olayiwole The members served on the council through the year under review are named on page 2.

Financial Reviews

The statement of the financial activities shows income of £77,971and expenditure of £85,882.

This financial support from members has enabled the church to support quite a good number of Christian organisations, charities and visiting ministers as well as meeting other charitable objectives.

The present level of funding is adequate to support the continuation of the church objectives.

The charity is also aware of the need to have a documentary policy in place regarding reserve; this is currently under review by the trustees.

In accordance with guidelines issued by the Charity Commission, the Board of Trustees has adopt a policy regarding the use of building funds and other donations, which involves

• a) Making sure, there are adequate funds for the charity to meet all current and known future liabilities.

• b) The amount of donations from members for the building fund had been used for purpose for which it was collected.

4

Future development

The charity plans continuing the activities lined above in the forthcoming years subject to satisfactory funding arrangements. Plans are also being developed to work on a number of schemes:

• Evangelism to further the course of Christian faith

• Barbecue outreach programme - Inviting the neighbors within our Parish area to an open evening to spread the good news and advance the Christian faith.

• Helping the homeless: by donating clothing and necessary materials for their upkeep

• Visiting Orphanages

• Having a Nursery to help mothers who need day care for their children

We hope to increase our involvement with the community through social inclusion by further strengthening our counseling sessions, developing biblical principles, organizing leadership seminars, economic empowerment, impacting entrepreneurship skills etc.

We support aid relief Agency to underprivileged people in Africa. We also actively and strongly support the Evangelical missions which aim at furthering the Christian faith all over the world.

This year trustees consider that the performance of the parish has been satisfactory in terms of advancement of the Christian faith.

We are in our second year of our moved to a leased building. Our prayer is that this move will enable the church to have more impact within the community.

Political and Charitable Activities

The charity did not make any political or charitable donation during the financial year, it major activity during the year was just the preaching of the gospel to the people.

Public Benefit

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in this report.

The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

5

Risk Management.

The trustees actively review the major risks which the charity faces on a regular basis. The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that the systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

ON BEHALF OF THE CHARITY

These financial statements were approved by the Board on 25[th] July 2023 the notes forms part of the financial statements.

Pastor Shade Olayiwole

.

Board of Trustees

6

Charity no 1126684

Believers Fellowship and Prayer Ministry

Annual Accounts

1st Apr 2022 to 31st Mar 2023

Prepared by DTT Consultancy Ltd

	Believers Fellowship and Prayer Ministry	Believers Fellowship and Prayer Ministry	Believers Fellowship and Prayer Ministry		1126684
	Annual accounts for theperiod
	Period start date	1st Apr 22	To	Period end date	31st Mar 23
Section A	Statement of financial activities
Recommended categories by activity Details of own analysis Note Incoming resources (Note 3) Incoming resources from generated funds Voluntary income S01 Activities for generating funds S02 Gift Aid S03 Incoming resources from charitable activities S04 Other incoming resources S05 S06 Resources expended (Notes 4-8) Costs of Generating Funds Costs of generating voluntary income S07 Fundraising trading costs S08 Investment management costs S09 Charitable activities S10 Governance costs S11 Other resources expended S12 S13 S14 S15 S16 S17 S18 S19 S20 S21 Total resources expended Total incoming resources Total funds carried forward Total funds brought forward Net movement in funds Net incoming/(outgoing) resources before transfers Gains and losses on investment assets Prior year adjustment Other recognised gains/(losses) Net incoming/(outgoing) resources before other recognised gains/(losses) Gross transfers between funds		Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ F01 F02 F03 F04 F05
		-	-	-	-	-
		77,971	-	-	77,971	74,513
		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
		-	-	-	-	-
		77,971	-	-	77,971	74,513
		-	-	-	-	-
		78,349	-	-	78,349	38,573
		-	-	-	-	-
		-	-	-	-	-
		2,513	-	-	2,513	4,276
		5,020	-	-	5,020	27,596
		-	-	-	-	-
		85,882	-	-	85,882	70,446
		7,911 -	-	-	7,911 -	4,067
		-	-	-	-	-
		7,911 -	-	-	7,911 -	4,067
		-	-	-	-	-
		-	-	-	-	-
		7,911 -	-	-	7,911 -	4,067
		37,360	-	-	37,360	33,293
		29,449	-	-	29,449	37,360

Page 1

Section B Balance sheet

Fixed assets Tangible assets (Note 9) Investments (Note 10) Total fixed assets Current assets Stock and work in progress Debtors (Note 11) (Short term) investments Cash at bank and in hand Total current assets Creditors: amounts falling due within one year (Note 12) Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after one year (Note 13) Provisions for liabilities and charges Net assets Funds of the Charity Unrestricted funds Restricted income funds (Note 14) Endowment funds(Note 15) Total funds Signed by	Note B01 B02 B03 B04 B05 B06 B07 B08 B09 B10 B11 B12 B13 B14 B15 B16 B17 B18 B19 B20	Unrestricted funds £ F01	Restricted income funds £ F02	Endowment funds £ F03	Total this year Total last year £ £ F04 F05	Total this year Total last year £ £ F04 F05
		4,587	-	-	4,587	-
		-	-	-	-	-
		-	-	-	-	-
		4,587	-	-	4,587	-
		-	-	-	-	-
		7,000	-	-	7,000	7,000
			-	-	-	-
		17,862	-	-	17,862	30,360
		24,862	-	-	24,862	37,360
			-	-	-	-
		24,862	-	-	24,862	37,360
		29,449	-	-	29,449	37,360
		-	-	-	-	-
		-	-	-	-	-
		29,449	-	-	29,449	37,360
		29,449			29,449	37,360
					-	-
			-		-	-
				-	-	-
		29,449	-	-	29,449	37,360
		Signature		Print	Name	Date of approval
				Shade Olayiwole		25/07/2023

Page 2

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:

• Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2005);

• and with* ü Accounting Standards; or Financial Reporting Standards for Smaller Enterprises (FRSSE);

• and with the Charities Act 1993.

[** except for the following].

Give details in this box if a different standard has been followed.

• -Tick as appropriate:

• if all relevant disclosures shown in the pack have been given then please tick “Accounting Standards”;

• if disclosures completed in these accounts have been restricted to those required by the FRSSE, then please tick “Financial

• Reporting Standards for Smaller Enterprises (FRSSE)”.

** - If no departures from the chosen standards have been made then delete these words; otherwise give details of any changes in the boxes.

1.2 Change in basis of accounting

There has been no change to the accounting policies (valuation rules and methods of accounting) since last year (§ except for the following).

• § if no changes have been made to accounting policies then delete these words.

1.3 Changes to previous accounts

No changes have been made to accounts for previous years

Page 3

Section C Notes to the accounts (cont)

Note 2 Accounting policies

This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

INCOMING RESOURCES
Recognition of incoming	These are included in the Statement of Financial Activities (SoFA) when:
resources	· the charity becomes entitled to the resources;
	· the trustees are virtually certain they will receive the resources; and
	· the monetary value can be measured with sufficient reliability.
Incoming resources with related	Where incoming resources have related expenditure (as with fundraising or contract income) the
expenditure	incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations	Grants and donations are only included in the SoFA when the charity has unconditional entitlement to
	the resources.
Tax reclaims on donations and	Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which
gifts	they relate.
Contractual income and	This is only included in the SoFA once the related goods or services have been delivered.
performance related grants
Gifts in kind	Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.
	Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed
	by the charity.
	Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.
Donated services and facilities	These are only included in incoming resources (with an equivalent amount in resources expended)
	where the benefit to the charity is reasonably quantifiable, measurable and material_._The value placed
	on these resources is the estimated value to the charity of the service or facility received.
Volunteer help	The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
Investment income	This is included in the accounts when receivable.
Investment gains and losses	This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing
	investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition	Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to
	pay out resources.
Governance costs	Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings
	and cost of any legal advice to trustees on governance or constitutional matters.
Grants with performance	Where the charity gives a grant with conditions for its payment being a specific level of service or
conditions	output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has
	provided the specified service or output.
Grants payable without	These are only recognised in the accounts when a commitment has been made and there are no
performance conditions	conditions to be met relating to the grant which remain in the control of the charity.
Support Costs	Support costs include central functions and have been allocated to activity cost categories on a basis
	consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff
	costs by the time spent and other costs by their usage.
ASSETS
Tangible fixed assets for use by	These are capitalised if they can be used for more than one year, and cost at least £500. They are
charity	valued at cost or a reasonable value on receipt.
Investments	Investments quoted on a recognised stock exchange are valued at market value at the year end. Other
	investment assets are included at trustees' best estimate of market value.
Stocks and work in progress	These are valued at the lower of cost or market value.

Page 4

Section C Notes to the accounts (cont)

Note 3 Analysis of incoming resources

Incoming resources may be further analysed if this would help the reader of the accounts.

Activities for generating funds Investment income Incoming resources from charitable activities Voluntary income	Total this year Total last year £ £ Analysis	Total this year Total last year £ £ Analysis	Total this year Total last year £ £ Analysis
	Tithes Offering	77,971	74,513
	BuildingAccount	34	1
	Gift Aid	-	-
	Total	78,005	74,514
		-	-
		-	-
		-	-
		-	-
		-	-
	Total	-	-
		-	-
		-	-
		-	-
		-	-
		-	-
	Total	-	-
		-	-
		-	-
		-	-
		-	-
		-	-
	Total	-	-

Page 5

Section C Notes to the accounts (cont)

Note 4 Analysis of resources expended

Resources expended may be further analysed if this would help the reader of the accounts.

Resources expended may	be further analysed if this would help the reader of the accounts.	be further analysed if this would help the reader of the accounts.	be further analysed if this would help the reader of the accounts.
	Total this year Total last year £ £ Analysis
Costs of generating voluntary income	Training	768	129
	Transport	245	100
	Office expenses	407	326
	Refurbishment	150	10,000
	Church Events	603	-
	Rent	52,000	7,000
	HMRC	1,727	1,503
	Telephone & Internet	706	706
	Repairs and Maintenance	500	570
	Media recording	1,570	2,563
	Insurance	542	376
	Other accountancy fees	250	817
	Honouraruim	100	-
	Other	386	208
	Charges	222	65
	Pastor's allowance	12,000	12,000
	Mission	5,194	50
	Seminar	772	1,930
	Printingand Stationery	208	230
	Total	78,349	38,573
Governance costs Charitable activities Investment management costs
		-	-
		-	-
		-	-
	Total	-	-
	Donation	2,413	216
	Tithes	-	4,060
	Music	100	-
	Total	2,513	4,276
	Legal fees	5,020	27,596
		-	-
		-	-
	Total	5,020	27,596

Page 6

Section C Notes to the accounts (cont)

Note 5 Support Costs

Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

Support cost type	Fundraising activity £	Charitable Activity £	Governance Activity £	Total Cost £
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
	-	-	-	-
Total	-	-	-	-

Note 6 Details of certain items of expenditure

6.1 Trustee expenses

Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid,

please enter ‘None’ in the appropriate box(es).

Number of trustees who were paid expenses Nature of the expenses

Total amount paid

This year	Last year
£	£

6.2 Fees for examination or audit of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).

Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor Independent examiner’s or auditors' fees for reporting on the accounts	This year £	Last year £
	600	600
	180	120

Page 7

Section C Notes to the accounts (cont)

Note 9 Tangible fixed assets Please complete this note if the charity has any tangible fixed assets

9.1 Cost or valuation

9.1 Cost or valuation
Balance brought forward Additions Revaluations Disposals Transfers * Balance carried forward	Freehold land & buildings £	Other land & buildings £	Plant, machinery and motor vehicles £	Fixtures, fittings and equipment £	Payments on account and assets under construction £	Total £
	-	-	-	-	-	-
	-	-		4,587	-	4,587
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	4,587	-	4,587

9.2 Accumulated depreciation and impairment provisions

*Basis* Rate Balance brought forward Depreciation charge for year Impairment provisions Revaluations Disposals Transfers Balance carried forward Brought forward Carried forward 9.3 Net book value*	SL or RB	SL or RB	SL or RB	SL or RB	SL or RB	SL or RB
	-	-	-	-	-	-
	-	-	-	1,147	-	1,147
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	-	-	-
	-	-	-	1,147	-	1,147
	-	-	-	-	-	-
	-	-	-	3,440	-	3,440

9.4 Revaluation

If any fixed assets have been revalued please give details of the valuer and method of valuation

* The "transfers" row is for movements between fixed asset categories.

** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction.

Section C Notes to the accounts (cont)

Note 11 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

Analysis of debtors Trade debtors Amounts due from subsidiary and associated undertakings Other debtors Prepayments and accrued income Total	Amounts falling due within oneyear	Amounts falling due within oneyear	Amounts falling due after more than oneyear	Amounts falling due after more than oneyear
	This year £	Last year £	This year £	Last year £
	7,000	7,000
	-	-	-	-
		-
	-	-	-	-
	7,000	7,000

Note 12 Creditors and accruals

Please complete this note if the charity has any creditors or accruals.

12.1 Analysis of creditors

12.1 Analysis of creditors
Loans and overdrafts Trade creditors Amounts due to subsidiary and associated undertakings Other creditors Accruals and deferred income Total	Amounts falling due within oneyear		Amounts falling due after more than oneyear
	This year £	Last year £	This year £	Last year £
		-	-	-
		-	-	-
	-	-	-	-
		-	-	-
	-	-	-	-
	-	-	-	-

12.2 Security over assets

If any loan, overdraft or other creditor holds a charge or other security over any assets of the charity please provide details.

Page 8

Section A

Independent examiner's report on the accounts

Independent Examiner’s Report

Report to the trustees/ Charity Name members of Believers Fellowship and Prayer Ministry

On accounts for the year 31[st] March 2023 ended

Charity no 1126684 (if any)

Set out on pages

(remember to include the page numbers of additional sheets)

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts.

The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

• examine the accounts under section 145 of the Charities Act,

• to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and

• to state whether particular matters have come to my attention.

Basis of independent My examination was carried out in accordance with general Directions given examiner’s statement 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 the 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 statement below.

Independent In connection with my examination, no matter has come to my attention examiner's statement (other than that disclosed below *)

1. which gives me reasonable cause to believe that in, any material respect, the requirements:

2. to keep accounting records in accordance with section 130 of the Charities Act; and

3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

4. have not been met; or

5. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

6. Please delete the words in the brackets if they do not apply.

Signed: Name: Relevant professional qualification(s) or body
	Tunji Ogedengbe
	ACCA

1

IER

(if any): Address:
	36 Daffodil Close, Hatfield, Hertfordshire, AL10 9FF

Section B Disclosure

Only complete if the examiner needs to highlight material problems.

2

IER

Give here brief details of any items that the examiner wishes to disclose .

3

IER