Bestway International Christain Centre
Charity Commission Reg No 1138890 Company House Reg No 07385712
Report & Financial Statements
31st March 2023
Coker Isah & Co. Chartered Certified Accountants
Bestway International Christain Centre
INDEX
| Page | |
|---|---|
| Charity details | 1 |
| Trustees' Reports | 2 - 4 |
| Independent Examiners Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to Financial Activities | 8- 9 |
| Detail Statement of Financial Activities | 10 |
Page 1 Bestway International Christain Centre
Charity Details
MANAGEMENT COMMITTEES
| Trustees | Rev J A Adeyemo |
|---|---|
| Rev A Dasaolu | |
| Rev A Ayodele-Aribo | |
| Rev Dr T O Ola | |
| Secretary | Rev Dr T O Ola |
| Charity Commission Reg No | 1138890 |
| Company House Reg No | 7385712 |
| Registered Office | 11-14 Graces Mews |
| & Place of Worship | Camberwell |
| London Se15 8JF | |
| Independent Examiner | James Coker MBA FCCA |
| Coker Isah & Co. | |
| Chartered Certified Accountants | |
| 74 Church Road | |
| Crystal Palace | |
| London SE19 2EZ | |
| Bankers | Barclays Bank |
| 403 Brixton Road | |
| London | |
| SW9 |
Page 2 Bestway International Christain Centre
Trustees' report for the year ended 31 March 2023
The trustees present their report together with the financial statements of the charity for the year ended 31 March 2023 . The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the charity's trust deed and applicable law.
Mission statement
EMPOWERING people from every walk of life become the BEST in all that God has called to be Walking in faith and ADVANCING into their God-given destiny
Trustees
The trustees named on page 1 have served throughout the year. Appointment of trustees is governed by the Trust Deed of the charity. The Board of trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
Investments powers
The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held.
Constitution, objects and policies
The principal activity of the organization was that of providing advancement of Christian faith,including the relief of people in conditions of hardship or distress to benefitthe community at large,specifically through:.The advancement of Chritsian faith
.The relief of persons who are in condition of hardship,distress or who are aged
.The relief of poverty
. Supporting other charity that respondto disasteres all over the world
The objects and policies of the charitable trust ensure the charity carries out activities that are in line with its purposes. The charity continues to seek additional donations to carry on running the organistion. The Trustees are responsible for the day to day running of the charity.
Development, activities and achievements
The trustees consider that the performance of the charity this year has been satisfactory and boosted by by the continued support of members during the year.
The charity continues to extend the love of God through serving and the number of those served continue to increase. Some of the activities and sevices provided during the year are as follows:
. Safe places of worship and teachings for Christians and the community through various programmes such as workshops, evangelism, music and media
. Youth focussed services and events for youths and youth adults, to support their spiritual and phsical wellbeing, developing new skills and awareness in readiness for living independently and responsible as adults within the society.
Financial review
Funds available are sufficient to permit the Trust to continue in operation in the medium term, given the continued support of the members. If this support is not continued in the longer term, further financial support would need to be sought to ensure the trust can continue to vary out its activities
Risk Management
The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will ensure the charity has sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.
Future Developments
The charity successfully carried out all planned activities has increased during the year under review and the trustees are seeking to extend the charity's activities within the community and are pursuing a number of activities towards the next report year. We will continue to promote the spiritual and physical aspects of our purposes more effectively by appointing new ministers and pastors to support the work of the charity.
Reserve policy
It is the policy of the charity to maintain unrestricted funds at a level which provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least at this level throughout the year.
Statement of trustees' responsibilities
Law applicable to charities in England Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing these financial statements, the trustees are required to:
a) Select suitable accounting policies and apply them consistently;
b) Make judgments and estimates that are reasonable and prudent;
c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
d) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This project was approved by the trustees on 07 / 08 / /2023 and signed on their behalf
Signed Dr T O Ola Trustee
Page 3
Bestway International Christain Centre
Trustees' report for the year ended 31 March 2023
Future Developments
The charity's activities has increased during the year under review .
The trustees are seeking to extend the charity's activities and are pursuing a number of activities to enable this to happen
Reserve policy
It is the policy of the charity to maintain unrestricted funds at a level which provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least at this level throughout the year.
Statement of trustees' responsibilities
Law applicable to charities in England Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
a) Select suitable accounting policies and apply them consistently;
b) make judgments and estimates that are reasonable and prudent;
c) state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;
d) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This project was approved by the trustees on 07 / 08 / 2023 and signed on their behalf
Signed Rev Dr T O Ola Trustee
Page 4
Bestway International Christain Centre
Independent Examiner's Report on the Accounts
Report the trustees and members of Bestway International Christain Centre
The accounts for the year ended 31 March 2023 Set out in pages 5-8
Respective responsibilities of the trustees and examiner
As the trustees you are responsible for the preparation of the accounts, you consider that an audit
is not required under section 144 of the Charities Act 2011 and does not apply, and that
independent examination is needed
It is my responsibility to
-
examine the accounts under section 145 of the Charities Act
-
to follow the procedure paid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the Act and
-
to 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 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 explanation 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 connection with my examination ,no matter has come to my attention
-
(1) which give me reasonable cause to believe that in any material respect the requirements
-
to keep accounting records in accordance with section 130 of the Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting of requirement of the Act have not been met.
(2) to which, in my opinion ,attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed
James Coker mba fcca Dated 07 / 08 / 2023 Coker Isah & Co.
Chartered Certified Accountants 74 Church Road London SE19 2EZ
Page 5 Bestway International Christain Centre Statement of Financial Activities
For the year ended 31 March 2023
| 8 Incoming resources Unrestricted Fund 2023 Voluntary Sources- Donation 276742 Gift Aids 109877 Rent receivable 24515 Grant- HMRC 0 0 Total incoming resources 411134 Resources Expended 9 Direct Charitable Expenditure: 187610 10 Management Administration 37924 Total Resources Expended 225534 Net Income resources for the y 185600 Fund brought forward 1st April 2022 390949 Fund carried forward 31st March 2023 576549 |
Unrestricted Fund 2022 288501 145856 24138 2810 |
|---|---|
| 461305 | |
| 220661 37629 |
|
| 258290 | |
| 203015 187934 |
|
| 390949 |
There were no recognised gains or loss for the 2022 & 2023 other than included in the statement of Financial activities
Page 6
| Bestway International Christain Centre Balance Sheet 31st March 2023 FIXED ASSETS 4 CURRENT ASSETS Debtors Bank & cash CREDITORS Amounts falling due within one year Accrual & deferred income 5 Net Current Assets CREDITORS Amounts falling due after more than one year Loan - Gov BBL ACCUMULATED FUND Retained Surplus Brought Forward 6 Surplus for the year Retained surplus CF |
2023 £ £ 74,459 219,000 285,027 504,027 1,937 1,937 502,090 576,549 0 576,549 390,949 185,600 576,549 |
2022 £ 92,739 145,856 153,942 299,798 1,588 298,210 390,949 0 390,949 187,934 203,015 390,949 |
2022 £ 92,739 145,856 153,942 299,798 1,588 298,210 390,949 0 390,949 187,934 203,015 390,949 |
|---|---|---|---|
| 390,949 0 |
|||
| 390,949 | |||
| 187,934 203,015 |
|||
| 390,949 |
Approved on 07 /08 / 20023 a signed on behalf of the Trustee9
By
Signed Signed Rev A Ayodele-Aribo Rev J A Adeyemo Trustee Member Trustee Member
Page 7
Bestway International Christain Centre
Notes to the Financial Statements For the year ended 31 March 2023
1 Accounting policies
1.1 Accounting convention
The financial statements are prepared under historical cost convention and in accordance with The Financial Reporting Standard for Smaller Entities (FRSSE) (effective Jan 2005) and statement of Recommended Practice (SORP 2005) ,and with the Charity Acts 1993
1.2 Incoming Resources
The Income represent the total donation and Income Tax Clamed excluding Value Added Tax , receivable during the year
1.3 Depreciation
Depreciation is provided on tangible Fixed Assets at rate calculated to write off the cost less residual value of each assets over its expected useful life as follows:-
Fixture fitting and equipment 25% reducing balance method Motor cars 25% reducing balance method
1.4 Donation Donation receivable are credited to the Statement of Financial Activities (SOFA)) in the year for the year which they are received.
1.5 Resources Expended Resources Expended are included in the Statement of Financial Activities (SOFA) on an accrual basis inclusive of VAT
1.6 Unrestricted Funds
Unrestricted Funds are donations and other incoming resources received or generated for the charitable purposes
1.8 Restricted Funds
Restricted Funds are funds received which can only be used for the specific purpose as laid out by the donor Expenditure which meets this criterion is identified to the fund, together with a fair allocation of overheads costs. During the year there are no restricted fund.
2 Income
The total income of the organization for the year has been derived from its principal activity wholly undertaken in the UK
3 Operating surplus
| Operating surplus Operating surplus is stated after charging Depreciation of tangible assets |
2023 £ 24,820 |
2022 £ 30913 |
|---|---|---|
Page 8 Bestway International Christain Centre
Notes to the Financial Statements For the year ended 31 March 2023
| 4 Fixed Assets Motor Car Cost £ 01-Apr-22 41,134 Additions/Disposal writing off 31-Mar-23 41,134 Depreciation 01-Apr-22 24,871 Charge for the year 4,066 31-Mar-23 28,937 Net Book Values 31-Mar-23 12,197 31-Mar-22 16,263 5 Debtors Debtors- Gift Aids Debtors--GFM-sisater organisation 5 Creditors amount falling due with one year Loan No1 Loan No2 Creditor and accrual Inland Revenue and pension 6 Summary of Assets by Fund Unrestricted funds bf Surplus for the year Surplus carried forward 7 Trustees Remuneration Only one trustee was paid under PAYE System |
Fixture Fittings equipment £ 141,565 6,540 148,105 65,089 20,754 85,843 62,262 76,476 2,023 £ 59,000 160,000 219,000 2,023 £ 0 0 963 973 1,936 2023 390,949 185600 576,549 |
Total £ 182,699 0 6,540 |
|---|---|---|
| 189,239 | ||
| 89,960 24,820 |
||
| 114,780 | ||
| 74,459 | ||
| 92,739 | ||
| 2,022 £ 145,856 0 |
||
| 145,856 | ||
| 2,022 £ 404 220 963 0 |
||
| 1,587 | ||
| 2022 187934 203015 |
||
| 390,949 | ||
Page 8
Bestway International Christain Centre Notes to the Financial Statements For the year needed 31 March 2023
| 8 Total incoming resources Voluntary Sources- Donation Gift Aids Rent receivable Grant- HMRC Total incoming resources 9 Direct Charitable Expenditure: Wages& salary National Insurance Contribution Er Pension Charity works & donation Choir expenses& community projects Missionary Work Rent & rates- water inc Conferences Function and events Service charges Insurance Light heat Repair & maintenance Printing postage & stationery Telephone Computer consumables Overseas travel Motor & Travelling Security cost Direct Charitable Expenditure: |
Unrestricted Fund 2023 £ 276742 109877 24515 0 411134 71599 1074 3101 433 12579 6247 3891 14915 21500 181 12864 5301 1176 6442 2163 13091 4316 6737 187610 |
Unrestricted Fund 2022 £ 288501 145856 24138 2810 |
|---|---|---|
| 461305 | ||
| 67715 1839 2712 8407 5430 61079 2795 2050 34200 172 7609 7394 1932 5651 3758 3377 2400 2141 |
||
| 220661 |
Page 9
Bestway International Christain Centre
Notes to the Financial Statements For the year needed 31 March 2023
| Year Ended 2023 £ 9 Total incoming resources 411134 9 Direct Charitable Expenditure: 187610 10 Management & administration Expenditure Legal & professional 869 Accountancy 4503 Bank charges 370 General expenses 1522 Corporate licence 5840 Depreciation F F &E 20754 Depreciation - motor cars 4066 Management & administration 37924 Total resources expended 225534 Net movement in funds for the year 185600 Fund Balance BF 390949 Fund Balance CF 576549 |
2022 £ 461305 |
|---|---|
| 220661 360 2250 668 1151 2287 25492 5421 |
|
| 37629 | |
| 258290 | |
| 203015 187934 |
|
| 390949 |