GLOBAL HARVEST INTERNATIONAL
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[st] MARCH 2024
CHARITY NUMBER: 1135709
GLOBAL HARVEST INTERNATIONAL 4 RADLETT WALK ARDWICK MANCHESTER M13 9EE
INDEX Page Index 1 Trustee’s Report 2-3 Independent Examiner’s Report 4 Receipts and Payments Account 5 Statement of Assets and Liabilities 6 Notes on the financial Statements 7
1
GLOBAL HARVEST INTERNATIONAL
TRUSTEES’ REPORT YEAR ENDED 31[ST] MARCH 2024
The trustees are pleased to present their report for the year ended 31[ST] MARCH 2024 for the charity, Global Harvest International with Charity Number 1135709.
The Trustees of the charity are:
Dr Ayo Olatoye Dr Kayode Ogungbenro Dr Folashade Christianah Olatoye
The principal address of the charity is: 4 Radlett Walk, Ardwick Manchester M13 9EE
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity governing document is a trust deed that was adopted on 1[st] April 2010 .The Charity is governed by a board on which the trustees are represented. It meets regularly to review, plan activities and monitor the financial position.
OBJECTIVES AND ACTIVITIES
The Objects of the organisation are to advance the Christian Faith [in accordance with the Statement of Beliefs] throughout the world as the trustees may see fit from time to time. The trustees confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit before deciding what activities the charity should undertake.
ACHIEVMENTS AND PERFORMANCE
The Organisation continues to hold successful services through the year in which individuals were equipped and educated on the principles and doctrines of the Christian faith. The church held several conferences to assist the development of the people in the community. This has brought spiritual strength in its membership during financial year.
2
FINANCIAL REVIEW
The income of the charity is above £56,000. The costs have been managed over this period. The charity has paid off all its loans. The charity had a surplus at the end of the year.
FUTURE DEVELOPMENTS
The church intends to continue to host its regular yearly conferences in UK. It plans to continue to host its television programmes in the city. The church is working on building a healthy deposit balance that will enable them to purchase their building. The intended re-appointment of our present independent examiner at the upcoming trustee meeting is expected to support the financial operations by making it more effective.
RESERVE POLICY
It is the policy of the Charity to maintain unrestricted funds, which are the reserves of the charity at about 3 months of unrestricted expenditure. This provides sufficient funds to cover any emergency expenditures that may arise from time to time. The charity will seek to maintain this level throughout the year.
RISK MANAGEMENT
The charity have assessed all the major risks to which the charity is exposed to, in particular those related to operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to major risks.
TRUSTEE RESPONSIBILITIES
Under the Charities Act 2011, the trustees are required to prepare a statement of accounts for each accounting year which gives a true and fair view of the state of the church. They are required to:
-
Select suitable accounting policies and apply them consistently.
-
Make judgements and estimates that are reasonable and prudent.
-
State whether the applicable accounting standards have been followed.
-
Prepare financial statements on an ongoing basis.
They are responsible for keeping proper records which disclose with reasonable accuracy the finances of the church at any time and to ensure that such accounts comply with the Charities Act 2011.They also have a responsibility to safeguard the assets of the church and to take reasonable steps to detect fraud or other irregularities.
Approved by the Trustees on 13[th] January 2025 and signed on their behalf by:
3
Independent Examiner’s Report To the Trustees GLOBAL HARVEST INTERNATIONAL
I report on the accounts of the church for the year ended 31[st ] March 2024 set out on the following pages which have been prepared on the basis of the accounting policies shown in the corresponding pages.
Respective responsibilities of trustees and examiner
The trustees of the church are responsible for the preparation of accounts: they consider that the audit requirement under section 144(2) of the Charities Act 2011 (the 2011 Act),does not apply. 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 Commissioners made under section 145(5)(b) of the 2011 Act.
-
State whether particular matters have come to my attention.
Basis of Independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the church 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 I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention;
-
(1) which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements to ensure that:
-
proper accounting records are kept( in accordance with section 130 of the 2011 Act
-
accounts are prepared which agree with the accounting records and comply with the accounting requirements of the 2011 Act: or
-
(2) to which , in my opinion , attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Chuks Ajuka BSc(Man), FICB PMDip FRESH FIRE ORGANISATION Generator Business Centre 95 Miles Road Mitcham Surrey CR4 3FH
4
GLOBAL HARVEST INTERNATIONAL
ACCOUNTS FOR THE YEAR ENDED 31st March 2024
1 Receipts & Payments Account (General Purpose Fund)
| Income Receipts Donations Other Income Total Receipts Direct Charitable Expenditure Travel expenses Subscriptions Supplies Telephone & Internet Card Services Security Admin Church events Mission house expenses Fixtures & Fittings Training Music Services Mission Television programs Charity donations Stationary & Books Printing Professional fees Welfare Light& Heat Hall Hire Rates Refreshments Advertising Accounting services Other Expenditure Equipments Instruments Speakers expenses Total Payments Net Receipts/(Payments) for the year Cash Funds brought forward Loan Cash Funds at the end of the year 5 |
£ £ 2024 2023 56654 44661 0 0 56654 44661 _ _ 1101 0 206 0 2239 706 2317 8434 0 5612 0 0 0 382 196 0 356 0 1219 0 0 0 0 610 0 4561 850 0 100 0 185 69 99 0 2778 0 0 1190 1272 1200 7030 1950 0 706 154 228 48 247 384 384 |
|---|---|
| 20534 26279 |
|
| 1721 0 3521 0 2910 150 |
|
| 28686 26429 27968 18232 57696 39464 -3000 |
|
| 82664 57696 |
|
GLOBAL HARVEST INTERNATIONAL
2 Statements of Assets and Liabilities at 31st March 2024
| Cash Funds | Unrestricted Funds | Unrestricted Funds | |
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Bank | 82664 | 57696 | |
| ___ | ___ | ||
| Total Cash Funds | 82664 | 57696 | |
| ___ | ___ | ||
| Assets Retained for the | |||
| Charity's Own use | |||
| Musical Instruments | 3276 | 574 | |
| Equipments | 8592 | 9019 | |
| Fixtures & Fittings | 994 | 24 | |
| 12862 | 9617 | ||
| ___ | ___ | ||
| Liabilities | |||
| Accounting fee | 384 | 384 | |
| Approved by the Trustees and signed on their behalf: | |||
| ____________ |
6
==> picture [453 x 673] intentionally omitted <==
----- Start of picture text -----
GLOBAL HARVEST INTERNATIONAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st March 2024
ACCOUNTING POLICIES
Basis of Accounting
These accounts have been prepared on the receipts and payments basis under section
Charities Act 2011.
Funds
Unrestricted funds are those which can be used at the Trustees' discretion. Restricted
Funds are those whose purposes have been restricted by the donor.
Staff
The church had no employees during the accounting year. All the work was carried out
by volunteers during the financial year.
Public Benefit
The charity acknowledges its requirement to demonstrate clearly that it must have
charitable purposes or aims that are for public benefit.Details of how this is achieved
are provided in the Trustees 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.
Depreciation
Depreciation is calculated at 20% reducing balance method.
Trustee Remuneration
No trustee received any remuneration during the financial year.
7
----- End of picture text -----