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← House Of Favour Ministries International

2025-08-31-accounts

HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 ~~_[aT]~~

Registered charity number: 1129862

Principal address: 44, Kestrel Way, New Addington, Croydon, CR0 0HL

HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

Trustees' Annual Report for the year ended 31 August 2025

Charity name: House of Favour Ministries International (“HOFMI”)

Names of the charity trustees who manage the charity

The trustees for the period 1 September 2024 to 31 August 2025 were:

Pastor Oluwarotimi Okeowo (Chairman) Mr. Taiwo Olatunji-Kasali Ms Olufunmilayo Okuneye Ms Oluwafemi Bamiro Dr Sunday Olubunmi Oke Mr Michael Lawson

Structure, governance and management

The church is governed by a trust deed signed on the 31[st] of December 2008 and controlled by a committee consisting of 4 trustees, the Pastor and ministers in the church. The trustees are responsible for making decisions on all matters of general concern and importance to the church including deciding on how the funds of HOFMI are to be spent.

The church has recruited more trustees from among its members and other Christians with relevant skills and experience, who are willing to help and assist as church secretary, treasurer and help other officials perform their functions more effectively.

Objectives and activities

The church has considered the Commission’s guidance on the public benefit and, in particular, the specific guidance on charities for the advancement of religion.

HOFMI’s main objective is advancement of the Christian religion in accordance with the statement of beliefs included in our Trust Deed. The church seeks to:

Relieve financial hardship by the provision of funds, goods or services to widows and the less privileged. Also the church provides counselling and support to members of the church and the community.

The trustees maintain an overview of worship and makes suggestions on how our services can involve many groups that are within the church.

House of Favour Ministries International is committed to enabling as many people as possible to worship at our church regardless of their race, colour, sex or creed.

We preach the Gospel of Jesus Christ and fulfil the great Commission (Mark16:15) in the United Kingdom and other parts of the world.

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HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

Trustees' Annual Report for the year ended 31 August 2025

Objectives and activities (continued)

We provide church services, meetings, seminars, events such as Marriage seminars, Youth conferences, Marriage counselling in group meetings and on a one to one basis, we conduct seasonal workshops to meet the needs of the members of the public, such as domestic violence in the Home.

We provide advice on immigration issues, unemployment, and make referrals to agencies such as social services, Local Authorities on issues relating to Housing.

We reach out to the elderly, the widows, and homeless people by visiting them in their individual homes, care homes, prison and provide food items, clothing, funds and any other way the trustees feel it’s necessary.

We aim to plant churches and propagate the gospel through the media.

We run and provide teachings and lectures on the Bible through the Bible School.

We provide Pastoral Counselling to members of the public, both Christians and non-Christians. This is achieved through one to one counselling, phone counselling is provided whenever it’s required and we provide counselling in the homes and in the hospitals.

We offer monetary support to members and non-members who are unemployed, disabled children/elderly, widows, single parents, and to anyone going through any sort of financial hardship.

We publish, sell and distribute Christian books and materials to encourage and develop Christians in their quest for Christ and in their spiritual development.

We join and affiliate with other churches with similar beliefs and other organizations that are established for the peace and unity of fellow believers and citizens of UK and to tackle and minimize crime within our community especially within our youths.

We support and assist other agencies like the care homes, Croydon & Sutton Council, Youth Organizations, the Police force and ethnic minority groups so as to have peace in our community and keep our youths off the streets through the provision of recreational activities, talks on drugs and crime.

We organize annual conferences, revival services, which are open to everyone members and nonmembers.

June 2022

After the COVID 19 lockdown was lifted, the church had to downsize and moved to a rental space at St. Mary’s Church Hall, Addington Village Road, Croydon CR0 5AS

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HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

Trustees' Annual Report for the year ended 31 August 2025

Objectives and activities (continued)

In February 2022, the church had a praise week to celebrate the church anniversary.

Since March 2019, the church has been engaging in a community event titled coffee morning which takes place every 3[rd] Saturday of the month, but this has been suspended due to the Covid- 19 lockdown regulations.

In August 2022, the church had a 14-day fasting and prayer revival service.

Every first day of every month we have our hour of Praise service to bless the Lord for a new month. Also, every last Friday our every month, the church engages in a prayer night vigil.

Worship & Prayer

House of Favour Ministries International throughout the year have offered and still keen to promote a range of services every day for the benefit of the general public that so many people have testified of being both beneficial and spiritually fulfilling.

For example, our daily services called Hour of Favour provide a refreshing and spirit filled and intimate time with God and an opportunity for members and members of the public from other Denominations network and mingle with other people. This service has been very productive for people who are trying to get back to work especially nursing mothers.

Everyone is welcome to attend our regular services Monday to Friday most especially on Sundays. Every other day we have been able to communicate to members, non-members and visitors through the use of text messages to their mobile phones, encouraging them with biblical texts, prayer and invitations to upcoming events and programs.

Daily online morning and evening programs commenced during the COVID period where our members joined remotely from the comfort of their homes. We were actively involved in encouraging and praying for our members and the community who were victims of this virus.

As of the 14[th] of August 2021, there were 50 registered members who joined our services online excluding children of about 25. The church has totally relied on online donations from members to sustain and manage the financial needs of the church including rent payments, utility bills, and provision of services to members and non-members.

Every month, since the establishment of this church, we have conducted a three-day deliverance program, and a lot of the attendees were non-church members who have benefited from the resources of the church.

Pastoral Care

Every month, the church provides food items such as rice, canned foods, fruits, money to an average of 10 elderly widows. When members of the public come into the church for counselling, the church has provided bus passes, petrol money, food and occasionally pay their rent especially for individuals not on the state benefit. Pastor and some group of ministers from time to time visit the prison and hospital and care homes to offer counselling and prayer to them.

With the global reality of COVID -19, the church also gave financial aid, distributed foodstuffs to friends of the church, members, elderly, youth, and the needy in our community

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HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

Trustees' Annual Report for the year ended 31 August 2025

Achievements and performance (continued)

Media

House of Favour Ministries International has been able to stream every service online using various platforms like zoom, YouTube, and Facebook Live. Through this media, we have taken so many telephone calls from members of the public who have been blessed by the Pastor’s sermon and prayer and they have eventually become members of the church.

We have a website www.houseoffavour.com whereby you can listen and watch the live broadcasts of the pastor every Sunday.

Through our website and WhatsApp group messages, members of the community have benefited from encouraging messages, daily bible verses, and prayer of the day.

Prayer requests are also sent to the church office where ministers in the church deal with it instantly. We take messages from our email whereby people have requested for special prayer on their marriages, youths, children, and gaining meaningful employment.

We are also on Twitter, Facebook, and YouTube to promote the gospel of Jesus Christ, to reach out to youths by encouraging them to stay away from crime and drugs.

Due to the emergence of COVID- 19, the church has been active in offering financial and emotional aid and counselling to the community, youths, and members of the church

Financial review

Total receipts on unrestricted funds were £77,913. There were restricted funds during the year totalling £0.

The church received an amount of £12,430 as gift aid refund from the HMRC during the year.

The net result for the year was an excess of payments over receipts of £6,286.

Declaration ~~OIre~~ The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees on 25 September 2025.

~~a~~ Pastor Oluwarotimi Okeowo (Chairman)

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HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

Section A Statement of financial activities Section A Statement of financial activities Section A Statement of financial activities
Unrestricted
funds
Restricted
income
funds		 Total
funds		 Prior
year
funds
£
£		 £ £
Incoming resources (Note 3) F01
F02		 F04 F05
Income and
endowments
from:
Donations and
legacies
Charitable
activities (Gift Aid
reclaim)
Government
Grants
Investments
Other
Interest
Total		 53,160
-
53,160
53,677
12,430
-
12,430
11,474
-
-
-
-
-
-
-
-
12,150
-
12,150
-
173
-
173
570
77,913
-
77,913
65,721
~~Sees~~
Resources expended (Note 4)
25 September 2025
6
Expenditure on:
Raising funds
59,430
-
59,430
58,041
Charitable
activities
20,782
-
20,782
40,316
Separate material
item of expense
-
-
-
-
Other
3,987
-
3,987
13,004
Total
84,198
-
84,198
111,361
Net income/(expenditure)
before investment
gains/(losses)
(6,286)
-
(6,286)
(45,640)
Net gains/(losses)
on investments
-
-
-
-
Net income/(expenditure)
(6,286)
-
(6,286)
(45,640)
Extraordinary
items
-
-
-
-
Transfers between funds
-
-
-
-
Net movement in funds
(6,286)
-
(6,286)
(45,640)
Reconciliation of
funds:
Total funds brought forward
65,482
-
65,482
111,123
Total funds carried forward
59,196
-
59,196
65,482
~~SE5s~~
~~_=~~		 6

HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

Section B Balance sheet

Unrestricted
funds
Restricted
income
funds
Total this
year
Total last year
£
£
£
£
Fixed assets F01
F02
F04
F05
-
-
-
-
Tangible assets
(Note 7)
Investments
20,000
20,000
20,000
Total fixed
assets
20,000
-
20,000
20,000
~~==~~
Current assets
Debtors
(Note 8)
83,870
-
83,870
83,870
Cash at bank and
in hand (Note 9)
22,119
-
22,119
33,205
105,989
-
105,989
117,075
~~==~~
Creditors:
amounts falling
due within one
year (Note 10)
12,350
-
12,350
17,150
Net current
assets/(liabilities)
93,639
-
93,639
99,925
Total assets less
current liabilities
113,639
-
113,639
119,925
Total net assets
or liabilities
113,639
-
113,639
119,925
~~———~~
~~==~~
Funds of the
Charity
Restricted
income funds
(Note 11)
-
-
-
-
Unrestricted
funds (Note 11)
113,639
-
113,639
119,925
Revaluation
reserve
-
-
-
-
Total funds
113,639
-
113,639
119,925
~~a~~
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Signed by one or
two trustees on
behalf of all the
trustees
Print
Name
Date of approval
dd/mm/yyyy
~~>2~~

HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

Section C Notes to the accounts

Note 1 Basis of preparation

1.1 Basis of accounting

The accounts have been prepared in accordance with:

The Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014.

1.2 Change of accounting policy

The accounts present a true and fair view and the accounting policies adopted are those outlined in note {1.1}.

1.3 Changes to accounting estimates

No changes to accounting estimates have occurred in the reporting period.

1.4 Material prior year errors

No material prior year error have been identified in the reporting period.

Note 2 Accounting policies

2.1 INCOME

Recognition of These are included in the Statement of Financial Activities (SoFA) income when: • the charity becomes entitled to the resources; · it is more likely than not that the trustees will receive the resources; and • The monetary value can be measured with sufficient reliability. There has been no offsetting of assets and liabilities, or income and Offsetting expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

Grants and Grants and donations are only included in the SoFA when the donations general income recognition criteria are met.

In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met.

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on

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HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

Tax reclaims on donations and gifts Contractual income and performance related grants

Donated goods

a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.

Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.

The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution.

Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'.

Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable.

Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.

Donated services and facilities

Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.

Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.

Support costs

Volunteer help

Income from interest, royalties and dividends

Income from membership subscriptions

The charity has incurred expenditure on support costs.

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.

Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.

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HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.

Investment gains and losses

This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

2.2 EXPENDITURE AND LIABILITIES

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Deferred income

No material item of deferred income has been included in the accounts.

2.3 ASSETS

Tangible fixed assets for use by charity

These are capitalised if they can be used for more than one year, and cost at least. They are valued at cost.

The depreciation rates and methods used are disclosed in note 7.

Stocks and work in progress

Stocks held for sale as part of non-charitable trade are measured at the lower of cost or net realisable value.

Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

Note 3 Analysis of income

Analysis Unrestricted
funds		 Restricted
income
funds		 Total
funds		 Prior
year
£ £
Donations
and		 Donations
and gifts		 53,160 - 53,160 53,677 53,677
legacies: GiftAid 12,430 - 12,430 11,473
Other 12,150 - 12,150 - -
Interest 173 - 173 571 571
Total 77,913 - 77,913 65,721 65,721
25 September 2025
10
Charitable
activities:
Deposits
-
-
-
-
TOTAL INCOME

77,913
-
77,913
65,721
~~-ao3~~

HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

Note 4 Analysis of expenditure Note 4 Analysis of expenditure Note 4 Analysis of expenditure
Analysis Unrestricted
funds		 Unrestricted
Restricted
income
funds		 Total
funds		 Prior year
£ £
Incurred seeking
Expenditure
on raising		 donations
Printing and Stationery		 -
203		 -
-		 -
-
203		 -
-
funds:
Motor Expenses 377 - 377 3,056
Rent collection, property
repairs and maintenance 53,215 - -
53,215		 51,825
charges
Light and Heat 5,635 - 5,635 3,161
Rates - - -
-		 -
Total expenditure on
raising funds		 59,430 - -
59,430		 58,042
Expenditure Salaries and wages 12,925 - -
12,925		 23,342
on Allowances - - -
charitable Donations - - - -
activities OtherCharitable activities 7,857 - -
7,857		 16,975
Total expenditure on
charitable activities		 20,782 - -
20,782		 40,317
Sundries - -
-		 -
- -
Websites - - - -
BankCharges 7 - 7 -
Equipment Expensed 870 - 870 -
Professional fees 2,464 - 2,464 12,049
Telephone costs 12 - 12 -
Software 244 - 244 -
Insurance 283 - 283 564
Subscription 108 - 108 390
Total other expenditure 3,987 - -
3,987		 13,003
TOTAL EXPENDITURE 84,198 - 84,198 111,362

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HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

Notes to the accounts

(cont)

Note 5 Details of certain items of expenditure

5.1 Fees for examination 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. If nothing was paid please enter '0' in the appropriate box (es).

This Last year year £ £ Independent examiner’s fees 850 850 Other fees (for example: financial advice, consultancy, accountancy services) 850 850 paid to the independent examiner

Note 6 Paid Employees

Please complete this note if the charity has any employees.

6.1 Staff Costs

This year Last year £ £ Salaries and wages 12,925 23,342 Total staff costs 12,925 23,342 Please provide details of expenditure on staff working for the charity whose contracts are None with and are paid by a related party ~~=~~ Please provide the total amount paid to key - management personnel

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HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

Notes to the accounts (cont)

Note 7 Tangible fixed assets

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

7.1 Cost or valuation

7.1 Cost or valuation 7.1 Cost or valuation
Freehold
land &
buildings		 Other land &
buildings		 Plant,
machinery
and motor
vehicles		 Fixtures,
fittings
and
equipme
nt		 Total
£ £ £ £ £
At the beginning of
the year
- -
-		 -
-		 -
-		 -
-
Additions - -
-		 -
-		 -
-		 -
Disposals - -
-		 -
-		 -
- -
At end of the year - -
-		 -
-		 - -
- -
7.2 Depreciation and impairments 7.2 Depreciation and impairments
**Basis **Basis SL SL
** Rate ** Rate ** Rate 25% 25%
At beginning of the
year
Disposals
Depreciation
At end of the year		 - -
-
-
-
- -
-
-
-
- -
-
-
-
-
-
-
-
~~ae~~
7.3 Net book value
Net book value at the
beginning of the year
Net book value at the
end of the year		 -
-
-
-
-
-
-
-
-
-
~~cee~~

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HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

Notes to the accounts (cont) Note 8 Debtors and prepayments 8.1 Analysis of This year Last year debtors £ £ Other debtors 73,370 73,370 Prepayments and 10,500 10,500 accrued income Total 83,870 83,870 ~~&~~ Note 9 Cash at bank and in hand This Last year year £ £ Current account 10 2,431 Savings account 22,110 30,775 Total 22,119 33,206 ~~25~~

Note 10 Creditors and accruals

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

10.1 Analysis
of 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
£
£
£
£
-
-
-
-
10,800
16,300
16,300
16,300
1,550
850
850
850
Total
12,350
17,150
17,150
17,150
~~EEE~~
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HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

Notes to the accounts (cont)

Note 11 Endowment and restricted income funds

Please complete this section if the charity has any endowment or restricted income funds.

11.1 Funds held

Please give a brief description of any of the following type of funds held by the charity:

· Other funds.

Type PE,
Fund Name EE , R or Purpose and restrictions
other

11.2 Movements of major funds

Please give details of the movements of the major funds summarized in the restricted and endowment columns of the Statement of Financial Activities. Fund Fund balances Incoming Resources balances Transfers Fund names brought resources expended carried forward forward £ £ £ £ £ Restricted - - - - - Unrestricted 119,925 77,913 (84,198) - 113,639 Total Funds 119,925 77,913 (84,198) - 113,639 11.3 Transfers between funds Please give details of any transfers between funds. From Fund To Fund (Name) Reason Amount (Name) ~~=a~~ 11.4 Analysis of net assets between funds Unrestricted Restricted Total funds funds £ £ £ Fixed assets - - - Investments - - - Net current - - assets - Creditors due in more than one year and provisions Total net - - assets - ~~2~~ 25 September 2025 15

HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

Independent examiner's report on the accounts

==> picture [359 x 181] intentionally omitted <==

----- Start of picture text -----
Section A Independent Examiner’s Report
Report to the
trustees/
members of
HOUSE OF FAVOUR MINISTRIES INTERNATIONAL
On accounts
Charity no
for the year 31-Aug-25 1129862
(if any)
ended
i|
Set out on
pages 6 to 15
Caw
----- End of picture text -----

The charity's trustees are responsible for the preparation of Respective the accounts. The charity’s trustees consider that an audit is responsibilities not required for this year under section 144 of the Charities of trustees and Act 2011 (“the Charities Act”) and that an independent examiner examination is needed.

It is my responsibility to:

My examination was carried out in accordance with 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 Basis of presented with those records. It also includes consideration independent of any unusual items or disclosures in the accounts and examiner’s seeking explanations from the trustees concerning any such statement 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.

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

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HOUSE OF FAVOUR MINISTRIES INTERNATIONAL

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

  2. to keep accounting records in accordance with

  3. section 130 of the Charities Act; and

• to prepare accounts which accord with the accounting Independent records and comply with the accounting requirements of the examiner's Charities Act statement have not been met; or

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

Signed: Date:

Name: Olushola Olalekan Shokunbi FCCA

Relevant professional qualification(s) FCCA or body (if any): Address: 2nd Floor 134 South Street, Romford, Essex RM1 1TE ~~[————]~~

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