2023-10-31-accounts - Apostolic Faith Mission International Gilgal

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CHARITY NUMBER 1131394

COMPANY NUMBER 6715405

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

APOSTOLIC FAITH MISSION INTERNATIONAL (GILGAL)

APOSTOLIC FAITH MISSION INTERNATIONAL (GILGAL)

(A Company Limited by Guarantee)

Contents	Page
Charity and Company Information	1
Trustee Reports	2-3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the Financial Statements	7,8 & 9

APOSTOLIC FAITH MISSION INTERNATIONAL (GILGAL)

(A Company Limited by Guarantee)

Legal and administrative Information

Charity Number

Registered Office

1131394 33 Tristram Road Bromley BR1 5LX

Trustees

Henewaa Twene Apostle Dr. Degraft Osei Kwame Nana Yaw Adade-Mayer

Accountants

The Blessing & Contract Ltd 16 Leonard Road London SW16 5TA

Financial Statements for the year ended 31 October 2023

Company Number 6715405 (England and Wales)

Page 1

Apostolic Faith Mission International (Gilgal)

(A company limited by guarantee)

Report of the trustees (incorporating the directors’ report) for the year ended 31 October 2023

The trustees present their report and the financial statements for the year ended 31 October 2023. The trustees, who are also directors of Apostolic Faith Mission International (Gilgal) for the purposes of company law and who served during the year and up to the date of this report are set out on page Structure, governance and management

Objectives and activities

To advance the Christian Faith in accordance with the statement of beliefs 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 time may think fit The trustees must use the income and may use the capital of the church in promoting objects

Statement of trustees’ responsibilities

The trustees (who are also directors of Apostolic Faith Mission International (Gilgal) for the purpose of company law) are responsible for the Trustees’ Annual Report 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 the incoming resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

Select suitable accounting policies and them consistently;
Observe the methods and principles in the charities SORP;

Make judgements and estimates that are reasonable and prudent State whether UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and Prepare the financial statements on the going concern basis unless it is inappropriate to presume the charitable company will continue in operation.

Page 2

Apostolic Faith Mission International (Gilgal)

(A company limited with guarantee)

Report of the trustees’ (incorporating the directors’ report)

for the year ended 31 October 2023

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 which 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.

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

On behalf of the board

Hanewaa Twene

Secretary - Trustee

Page 3

Apostolic Faith Mission International (Gilgal)

(A company limited by guarantee)

Independent examiner’s report to the trustees on the unaudited financial statements of Apostolic Faith Mission International (Gilgal)

I report on the accounts of Apostolic Faith Mission International (Gilgal) for the year ended 31 October 2023 set out on pages 2 to 9.

Respective responsibilities of trustees and independent examiner

The charity’s trustees (who are also the directors of the company for purposes of company law)are responsible for the preparation of the accounts.The trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the Act), as amended by section 28 of the Charities Act 2006 and that an independent examination is needed. It is my responsibility to examine the accounts under section 43(3)(a) of the Act, as amended; and to state whether particular have come to my attention.

Basis of independent examiner’s statement

The examination was carried out in accordance with the General Directors 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 matters. The procedures undertaken do not provide all the evidence that would e 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 examiner’s statement

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

(i) Which gives me reasonable cause to believe that in any material respect the requirements:

To keep proper accounting records I accordance with section 386 of the Companies Act 2006; and

To prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the statement of Recommended Practise: Accounting and Reporting by charities, have not been met; or

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

The Blessing & Contract Ltd Independent examiner

Page 4

Apostolic Faith Mission International (Gilgal)

(A Company Limited by Guarantee)

Statement of Financial activities ( Incorporating the Income and Expenditure accounts ) For the year ended 31 October 2023

Unrestricted funds Notes £ Incoming Resources Incoming resources from generating funds 2 37512 Total Incoming Resources 37512 Resources Expended Travel Expenses 3016 Accountancy fees 650 Loan Repayment 0 Student support - member support 250 Administration expenss 4600 Printing, Stationery & Postage 0 Refreshments & Entertainment 1332 Depreciation and impairment 5739 Voluntary Expenses 2613 Rental of Premises 1720 Insurance 1324 Telephone 500 Members welfare 1465 TV & Radio Evangelism 6106 HMRC 200 Total resources expended 29515 Net incoming/(outgoing) resources 3 for the year Net income / ( expenses ) 7997 Total funds brought forward 47591 Total funds carried forward 55588	2023 £ 37512 37512 3016 650 0 250 4600 0 1332 5739 2613 1720 1324 500 1465 6106 200 29515 7997 47591 55588	2022 £ 31102
		31102
		2807 1061 1000 0 5620 40 65 894 2400 12380 0 0 2050 4650 0
		32967
		-1864 49455
		47591

Page 5

Apostolic Faith Mission International (Gilgal)

(A company limited by guarantee) Balance Sheet as at 31 October 2023

Notes Fixed Assets Tangible assets 5 Current Assets Debtors 6 Cash at bank and in hand Creditors: amount falling due within one year 7 Net Current Assets/(Liabilities) Efficiency/Deficiency of assets Funds Unrestricted Income funds Total Funds	£ 175 42,477 42,652 -4,900	2023 £ 17,836 37,752 55,588 55,588 55,588	£ 175 54,209	2022 £ 3,575 44,016
			54,384 -10,368

				47,591
				47,591
				47,591

In approving these financial statements as trustees of the company we hereby confirm:

a)That for the year stated above the company was entitled to the exemption conferred by section 477 of the companies Act 2006;

b)That no notice has been deposited at the registered office of the company pursuant to section 476 of the companies Act 2006 requesting that an audit be conducted for the year ended 31 October 2023

c)That we acknowledge our responsibilities for:

(1) Ensuring that the company keeps proper accounting records which comply with section 386 of the Companies Act 2006,and

(2) Preparing financial statements which gave a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the year then ended in accordance with the requirements of sections 394 and 395, and which otherwise comply with the provisions of the Companies Act relating to financial statements so far as applicable to the company. These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with the Financial Reporting Standard for smaller Entities (effective April 2008). The Financial Statements were approved by the Board on 05/06/2024, and signed on its behalf by

Henewaa Twene Secretary - Trustee

The notes on page 7 to 9 form an integral Part of these financial statements

Page 6

The Apostolic Faith Mission International (Gilgal)

(A Company limited by Guarantee) Notes to the financial Statements for the year ended 31 October 2023

1. Accounting Policies

The principal Accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.

1.1 Basis of Accounting

The financial statements are prepared under the historical cost convention and in accordance with the financial Reporting Standard for Smaller Entities ( effective April., 2008), the Statement of Recommended Practice “Accounting and Reporting by Charities’ issued in march 2008 (SORP’ 2005) AND THE Companies Act 2006.

1.2 Incoming Resources

All incoming Resources are included in the statement of the financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income

Voluntary income is received is received by way of Grants, donation, and gifts and is included in full the statement of financial activities when receivables, Grants where an entitlement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becomes conditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. Gifts donated are included in the income resources within activities for generating funds when they are sold.

1.3. Resources Expanded

Expenditure is recognized on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the Expenditure to which it relates. Costs of generating funds comprise the costs associated with attracting voluntary income and the cost of trading for fundraising purposes including the charity’s shop. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those cost of an indirect nature necessary to support them.Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of of the charitable activities.

1.4 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows.

Fixtures, fittings and equipment – 20% reducing balance Motor Vehicles – 25% reducing balance

Page 7

Apostolic Faith Mission International (Gilgal)

(A company limited by guarantee)

Notes for Financial statements

for year ended 31 October 2023

2 Voluntary Income: Unrestricted Funds Tithes, Offering and Donations 3 Net Incoming Resources for the year: Net Incoming resources is stated after charging and other amount written - depreciation Off Tangible fixed assets.	2023 £ 37512 37512 2023 £ 55588 55588	2022 £ 31102
		31102
		2022 £ 47591
		47591

4 Taxation:

The Charity's activities falls within the exemptions afforded by the Provision of the income and corporation.

Taxes Act 1988. Accordingly, there is no taxation charge in this accounts

5 Tangible Fixed Assets:

2023 Motor Vehicles £ Cost At 1 November 2022 0 Additions 20000 At 31 October 2023 20000 Depreciation At 1 November 2022 0 Charge for the Year 5000 At 31 October 2023 5000 Net Book Value At 31 October 2023 15000 At 31 October 2022 0	2023 Fixitures & fitings Equipments £ 38008 120 38128 33539 739 34278 2836 3575	2023 Total Fixed Assets £ 38008 20120 58128 33539 5739 39278 17836 3575	2022 Fixitures & fitings Equipments £ 37405 604
			38008
			33539 894
			34433
			3575 3865

Page 8

Apostolic Faith Mission International (Gilgal)

(A company limited by guarantee)

Notes for Financial statements

for year ended 31 October 2023

6 Debtors Other Debtors - Loan to members 7 Creditors: Amount falling due within 1 year Bank Overdraft Loan from Church Members Trade Creditors Professional/Accountancy Charges Accruals and Deferred Income	2023 £ 0 175 175 2023 £ 0 4900 0 0 4900	2022 £ 0 175
		175
		2022 £ 0 9868 0 500 0
		10368

Company Limited by Guarantee

Apostolic Faith Mission International (Gilgal) is a company limited by guarantee and Accordingly does not have a share capital.

Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

Page 9