Registered number: 06113714 Charity number: 1133479 Jubilee Life International Ministries FINANCIAL ACCOUNTS FOR THE YEAR ENDED 28/02/2024 Jubilee Life International Ministries FINANCIAL STATEMENTS FOR THE YEAR ENDED 28/02/2024 TRUSTEES V Babatunde REGISTERED OFFICE 60 Leechcroft Avenue Swanley Kent BR8 8AR COMPANY NUMBER 06113714 CHARITY NUMBER 1133479 page 1 Jubilee Life International Ministries ||ACCOUNTS|| |---|---|---| ||FORTHE YEAR ENDED 28/02/2024|| |CONTENTS||| |||Page| |ReportoftheTrustees||3| |Independent Examiner'sStatement||4| |Statement of Financial Activities||6| |BalanceSheet||7| |Notes totheAccounts||8 to 12| |Detailed Statementof Financial Activities||11| page 2 Jubilee Life International Ministries ## TRUSTEES' REPORT FOR THE YEAR ENDED 28/02/2024 The trustees present their report and accounts for the year ended 28/02/2024 ## PRINCIPAL ACTIVITIES The principal activity of the charity in the year under review was that of a church . ## STRUCTURE GOVERNANCE AND MANAGEMENT structure and governance text goes here The report was prepared in accordance with the special provisions within Part 15 of the Companies Act 2006. This report was approved by the Board of Trustees on 03/01/2025 V Babatunde Trustee page 3 Jubilee Life International Ministries ## INDEPENDENT EXAMINER'S STATEMENT FOR THE YEAR ENDED 28/02/2024 ## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JUBILEE LIFE INTERNATIONAL MINISTRIES I report on the accounts of the company for the year ended 28/02/2024 . ## RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The trustees (who are also the directors of the company for the 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 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of CIMA. Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to: - examine the accounts under section 145 of the 2011 Act; - follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and - state whether particular matters have come to my attention. ## BASIS OF INDEPENDENT EXAMINERS STATEMENT 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 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 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. page 4 Jubilee Life International Ministries INDEPENDENT EXAMINER'S STATEMENT FOR THE YEAR ENDED 28/02/2024 ## INDEPENDENT EXAMINERS STATEMENT In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in 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 Practice: Accounting and Reporting by Charities 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 ................................................... Date:1 JANUARY 2025 ## E H TURKSON ACMA HESSE ARMAH ACCOUNTANTS 456 HIGH ROAD LONDON E10 6QE page 5 Jubilee Life International Ministries Statement of Financial Activities for the year ended 28/02/2024 |Income
Incomefrom generated funds
Incomefrom charitable activities
TotalIncome and endowments
Expenses
Costsof generating funds
Expenditureon Charitable activities
TotalExpenses
Net gains on investments
NetIncome
Gains/(losses) onrevaluation of fixed assests
Netmovement in funds:
Net income fortheyear
Total fundsbroughtforward
Net funds carried forward|Unrestricted
funds
£
26,885
26,885
26,311
26,311
574
574
11,877
12,451|Restricted
funds
£
-
-
-
-
-
-
-
-|2024
Total
£
26,885
26,885
26,311
26,311
574
574
11,877
12,451|2023
Total
£
26,246| |---|---|---|---|---| |||||26,246| |||||26,374| |||||26,374| |||||(128)| |||||(128)
12,005| |||||11,877| This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities page 6 Jubilee Life International Ministries |BALANCE SHEET AT 28/02/2024
FIXED ASSETS
Tangible assets
CURRENTASSETS
Cashatbank and in hand
CREDITORS: Amountsfalling duewithin oneyear
NETCURRENTASSETS
TOTALASSETS LESS CURRENT LIABILITIES
Notes
3
4
CAPITALANDRESERVES
Unrestricted funds
General fund
6|11,763
11,763
1,000|2024
£
1,688


10,763
12,451
12,451
12,451|
10,767
10,767
1,000|2023
£
2,110
9,767| |---|---|---|---|---| |||||11,877| |||||11,877| |||||11,877| For the year ending 28/02/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Approved by the board of tr ustees on 03/01/2025 and signed on their behalf by ............................. V Babatunde Trustee page 7 Jubilee Life International Ministries ## NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 28/02/2024 ## 1. ACCOUNTING POLICIES ## 1a. Basis Of Accounting The accounts have been prepared under the historical cost convention. The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. ## 1b. Incoming R esour ces 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. ## 1c. R esour ces 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. ## 1d. Allocation And Apportionment Of C osts All costs relate to the single activity of the charitable company and are recognised accordingly. ## 1e. 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. Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects. ## 1f. Depreciation Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. Plant and Machinery Fixtures and Fittings reducing balance 20 reducing balance 20 page 8 Jubilee Life International Ministries ## 1g. Turnover Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts. 2. EMPLOYEES Average number of employees |2024|2023| |---|---| |No.|No.| |-|-| 3. TANGIBLE FIXED ASSETS |Cost
At01/03/2023
At28/02/2024
Depreciation
At01/03/2023
For the year
At28/02/2024
NetBookAmounts
At28/02/2024
At28/02/2023|Plant and
Machinery
£
10,130
10,130
8,067
413
8,480
1,650
2,063|Fixtures
and
Fittings
£
1,857
1,857
1,810
9
1,819
38
47|Total
£
11,987| |---|---|---|---| ||||11,987| ||||9,877
422| ||||10,299| ||||1,688| ||||2,110| ## 4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |4. CREDITORS: AMOUNTS FALLINGDUE WITHINONE YEAR||| |---|---|---| |Othercreditors|2024
£
1,000
1,000|2023
£
1,000| |||1,000| page 9 Jubilee Life International Ministries ## 5. LIMITED BY GUARANTEE The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum not exceeding £1, to the company should it be wound up. At 28/02/2024 there were 2 members. ## 6. UNRESTRICTED FUNDS General fund |Brought
forward
£
11,877
11,877|Incoming
resources
£
26,885
26,885|Outgoing
resources
£
(26,311)
(26,311)|Transfers
£
-
-|Carried
forward
£
12,451| |---|---|---|---|---| |||||12,451| ## 7. RESTRICTED FUNDS |Brought
forward|Incoming
resources|Outgoing
resources|Transfers|Carried
forward| |---|---|---|---|---| |£|£|£|£|£| page 10 Jubilee Life International Ministries |Incomingresources
Incomingresources fromgeneratedfunds
IncomingResources
fortheyearended28/02/2024|2024
£
26,885
26,885|2023
£| |---|---|---| |||26,246| |||26,246| page 11 Jubilee Life International Ministries |Expenses
Costs of generating funds
Charitable Activities
Advertisingand Promotion
Functions and Events
Volunteer expenses
Rent
Honorarium
Repairs and Renewal
Accountancyfees
Stationery& office supplies
Hospitality and Refreshment
Telephone
SundryEquipment
Bankcharges
Depreciation of plant and machinery
Depreciation of fixtures and fittings
Expenses
fortheyearended28/02/2024|2024
£
1,850
2,586
260
14,500
1,500
523
1,000
375
1,910
899
357
129
413
9
26,311
26,311|2023
£
1,874
2,645
258
14,500
1,500
457
1,000
369
1,850
903
364
127
516
11| |---|---|---| |||26,374| |||| |||26,374| page 12