## **Believers Fellowship and Prayer Ministry** ## Report and Financial Statements **Year ended: 31**[s] **[s]**[t] **[t] March 2024** **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** North way house 421Edgware road London ## **Independent examiner** Tunji Ogedengbe 36 Daffodil Close, Hatfield Herts AL10 9FF 3 ## **Report of the Trustees for the year ended 31[st] Mar 2024** The Board of Trustees presents their report and the financial statement for the year ended 31[st] Mar 2024. 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 £112,419 and expenditure of £88,339. 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 30[th] November 2024 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 2023 to 31st Mar 2024** **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 23**|**To**|Period end date|**31st Mar 24**|| |||||||| |**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||||| |||-|-|-|-|-| |||112,419|-|-|112,419|77,971| |||-|-|-|-|-| |||-|-|-|-|-| |||-|-|-|-|-| |||-|-|-|-|-| |||112,419|-|-|112,419|77,971| |||||||| |||-|-|-|-|-| |||83,282|-|-|83,282|78,349| |||-|-|-|-|-| |||-|-|-|-|-| |||1,965|-|-|1,965|2,513| |||3,092|-|-|3,092|5,020| |||-|-|-|-|-| |||88,339|-|-|88,339|85,882| |||24,080|-|-|24,080|7,911
-| |||-|-|-|-|-| |||24,080|-|-|24,080|7,911
-| |||||||| |||-|-|-|-|-| |||-|-|-|-|-| |||24,080|-|-|24,080|7,911
-| |||29,449|-|-|29,449|37,360| |||53,529|-|-|53,529|29,449| 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|-|-|4,587|4,587| |||||||| |||-|-|-|-|-| |||7,000|-|-|7,000|7,000| ||||-|-|-|-| |||41,942|-|-|41,942|17,862| |||48,942|-|-|48,942|24,862| |||||||| ||||-|-|-|-| |||||||| |||48,942|-|-|48,942|24,862| |||||||| |||53,529|-|**-**|53,529|29,449| |||||||| |||-|-|-|-|-| |||-|-|-|-|-| |||||||| |||53,529|-|-|53,529|29,449| |||||||| |||53,529|||53,529|29,449| ||||||-|-| ||||-||-|-| |||||-|-|-| |||||||| |||53,529|-|-|53,529|29,449| |||||||| |||Signature||Print|Name|Date of
approval| |||||Shade Olayiwole||30/11/2024| |||||||| 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|112,239|77,971| ||BuildingAccount|179|34| ||Gift Aid|-|-| ||**Total**|112,419|78,005| ||||| |||-|-| |||-|-| |||-|-| |||-|-| |||-|-| ||**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|145|768| ||Transport|100|245| ||Office expenses|270|407| ||Refurbishment|1,700|150| ||Church Events|1,839|603| ||Rent|47,000|52,000| ||HMRC|523|1,727| ||Telephone & Internet|588|706| ||Repairs and Maintenance|1,369|500| ||Media recording|3,226|1,570| ||Insurance|494|542| ||Other accountancy fees|-|250| ||Honouraruim|-|100| ||Other|-|386| ||Charges|264|222| ||Pastor's allowance|18,767|12,000| ||Mission|6,677|5,194| ||Seminar|100|772| ||Printingand Stationery|220|208| ||**Total**|83,282|78,349| |**Governance costs**
**Charitable activities**
**Investment management**
**costs**|||| |||-|-| |||-|-| |||-|-| ||**Total**|-|-| ||||| ||Donation|-|2,413| ||Tithes|-|-| ||Music|1,965|100| ||**Total**|1,965|2,513| ||||| ||Legal fees|3,092|5,020| |||-|-| |||-|-| ||**Total**|3,092|5,020| 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|180| 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**||||||| |---|---|---|---|---|---|---| |**Freehold land &**
**buildings**
**Other land &**
**buildings**
**Plant,**
**machinery and**
**motor vehicles**
**Fixtures, fittings**
**and equipment**
**Payments on**
**account and**
**assets under**
**construction**
**Total**
**£**
**£**
**£**
**£**
**£**
**£**
Balance brought
forward
- - - 4,587 - 4,587
Additions
- - - - - -
Revaluations
- - - - - -
Disposals
- - - - - -
Transfers *
- - - - - -
Balance carried forward - - - 4,587 - 4,587
****Basis**
SL or RB
SL or RB
SL or RB
SL or RB
SL or RB
**** Rate**
Balance brought
forward
- - - 1,147 - 1,147
Depreciation charge for
year
- - - 1,147 - 1,147
Impairment provisions
- - - - - -
Revaluations
- - - - - -
Disposals
- - - - - -
Transfers*
- - - - - -
Balance carried forward - - - 2,294 - 2,294
Brought forward
- - - 3,440 - 3,440
Carried forward
- - - 2,293 - 2,293
**9.2 Accumulated depreciation and impairment provisions**
**9.3 Net book value**|**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| ||-|-|-|1,147|-|1,147| ||-|-|-|1,147|-|1,147| ||-|-|-|-|-|-| ||-|-|-|-|-|-| ||-|-|-|-|-|-| ||-|-|-|-|-|-| ||-|-|-|2,294|-|2,294| |||||||| ||-|-|-|3,440|-|3,440| ||-|-|-|2,293|-|2,293| ## **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 **Independent examiner's report on the accounts Section A Independent Examiner’s Report Report to the trustees/** Charity Name **members of** Believers Fellowship and Prayer Ministry ~~a a~~ **On accounts for the year 31[st] March 2024 Charity no** 1126684 **ended (if any)** PF **Set out on pages** (remember to include the page numbers of additional sheets) ~~Po~~ **Respective** The charity's trustees are responsible for the preparation of the accounts. **responsibilities of** The charity’s trustees consider that an audit is not required for this year **trustees and examiner** 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: - to keep accounting records in accordance with section 130 of the Charities Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act - have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. * _Please delete the words in the brackets if they do not apply._ **Signed: Date:** 30/11/2024 ~~a~~ **Name:** Tunji Ogedengbe ~~Cn~~ **Relevant professional** ACCA **qualification(s) or body** ~~PO~~ 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**