ICF (Borehamwood) INTERNATIONAL CHRISTIAN FELLOWSHIP Charity Registration No. 1139389
TRUSTEES' REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
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ICF (Borehamwood) Charity: 1139389 Trustees Report and Financial Statements For the period ending 31st. March 2025
| CONTENTS | Page |
|---|---|
| Trustees' report | 3 – 5 |
| Independent Examiner’s report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the accounts | 9 - 12 |
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ICF (Borehamwood) Charity: 1139389 Trustees Report and Financial Statements For the period ending 31st. March 2025
Trustees’ annual report for the period From: 1st. April 2024 To: 31st. March 2025
Reference and administrative details
| Name | ICF (Borehamwood) |
| Also known as | International Christian Fellowship |
| Registered charity number | 1139389 |
| Charity’s principal address | 84 Manor Way, Borehamwood, WD6 1QY |
Trustees (Trustees who served in the year)
Olabode Awogbade Herbert Sowemimo Henry Jackson-Koufie Rebecca Jackson-Koufie Obinna Duru Jennifer Duru
Independent Examiner
Mr Dayo Fagbenro
Objectives and Activities
The Trustees confirm that they have had due regard to the Charity Commission’s guidance on public benefit and that the charity continues to operate in accordance with its constitution dated 1st May 2020.
The charity’s mission is to advance the Christian faith for the benefit of the public. Its charitable objectives include:
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The advancement of religion through Christian worship, teaching, and outreach
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The provision of general charitable activities
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Education and training
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Overseas aid and relief
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The relief of elderly people living within the immediate community
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The promotion of community cohesion among people from different ethnic and cultural backgrounds
In furtherance of these objectives, the church holds weekly public worship services and regular prayer meetings, both in person and online. These activities are open and accessible to all members of the public.
The charity provides ongoing chaplaincy services to a local homeless shelter, working in partnership with the YMCA as the custodian of the facility. In addition, the charity supports a number of other charitable organisations through regular financial donations.
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ICF (Borehamwood) Charity: 1139389 Trustees Report and Financial Statements For the period ending 31st. March 2025
Through its benevolent giving scheme, the charity provides financial assistance to individuals and families within its community who are experiencing hardship. The church also offers pastoral care, including hospital and home visits and counselling, where required.
The church operates from a leased building used for worship and a range of community-focused activities. During the week, an independent nursery school operates from the premises, providing a benefit to the wider public.
Prayer and pastoral support continue to be offered to individuals both within the church congregation and across the local community.
The charity works in partnership with other like-minded charitable organisations, including Elstree and Borehamwood Christian Council, to deliver activities that benefit the public. These collaborations include the provision of a Foodbank and the hosting of public awareness events in pursuit of the advancement of the Christian faith and youth activities.
The charity is actively involved in community engagement across the borough, participating in events such as annual family summer activities that attract a large number of adults, children, and young people. These events contribute to fostering unity and cohesion within the local community.
The charity experienced modest growth across its activities during the year and continued to deliver meaningful benefits to individuals and families in the community.
Safeguarding
Safeguarding and the protection of vulnerable adults remain a key priority for the Trustees. The charity is committed to creating safe environments for all. During the year, the church worked with external national organisations, including Urban Saints and ThirtyOne Eight, to ensure its safeguarding team receives appropriate training and remains informed of best practice and current guidance.
Review of Activities and Future Plans
The Trustees continued to review the charity’s operations and activities throughout the year to ensure they effectively support the charity’s objectives and enable the church to reach more people with the message of Christianity.
Financial Review
The charity relies primarily on voluntary donations to fund its activities, together with the recovery of Gift Aid. The Trustees remain grateful for the continued generosity of supporters, which enables the charity to pursue its mission and serve the public benefit.
There are no uncertainties relating to the charity being a going concern.
Reserves Policy
The Trustees have considered their exposure to financial risk and believe that all liabilities are covered on an ongoing basis.
The reserves policy is to hold not more than 6 months of expenditure relating to administrative overhead as unrestricted reserves. The unrestricted reserves in the current year are £27,721. The Trustees have designated £6,000 each to the Building Fund and Ministry Fund this year.
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ICF (Borehamwood) Charity: 1139389 Trustees Report and Financial Statements For the period ending 31st. March 2025
Designated reserves are for planned expenditures in future financial years and these reserves include amounts that the Trustees have designated for future use. They are classified as Designated as the funds are also available for unrestricted expenditures. Specified donations are kept in restricted funds.
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees:
Olabode Awogbade Chair of Trustees 26[th] January 2026
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ICF (Borehamwood) Charity: 1139389 Trustees Report and Financial Statements For the period ending 31st. March 2025
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF ICF (BOREHAMWOOD)
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2025 which are set out on pages 7 – 12.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with my examination which gives me cause to believe that in, any material respect:
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1) the accounting records were not kept in respect of the charity as required by section 130 of the Act;
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2) accounts do not accord with those records, or
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3) the accounts do not comply with the applicable requirements concerning the form and content of account as set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr. Dayo Fagbenro Independent Examiner 15 January 2026
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ICF (Borehamwood) Charity: 1139389 Trustees Report and Financial Statements For the period ending 31st. March 2025
STATEMENT OF FINANCIAL ACTIVITIES
| Year ending 31st. March 2025 Note Income from: Voluntary Income Charitable activities Total income 3 Expenditure on: Generating funds Charitable activities Total Expenditure 4 Net income/(expenditure) Transfers between funds 7 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Year ending 31st. March 2025 Note Income from: Voluntary Income Charitable activities Total income 3 Expenditure on: Generating funds Charitable activities Total Expenditure 4 Net income/(expenditure) Transfers between funds 7 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted Designated income funds £ £ |
Restricted income £ |
Total funds Total funds 2025 2024 £ £ |
|---|---|---|---|---|
| Voluntary Income | 79,103 - |
80 | 79,183 87,320 |
|
| Charitable activities | 14,925 | - | 14,925 16,107 |
|
| Total income Expenditure on: Generating funds Charitable activities Total Expenditure Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
94,028 - |
80 | 94,108 103,427 |
|
| 4 7 |
||||
| - | - | - 249 |
||
| 66,307 1,900 |
50 | 68,257 61,726 |
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| 66,307 1,900 |
50 | 68,257 61,975 |
||
| 27,721 (1,900) |
30 | 25,851 41,452 |
||
| (12,000) 12,000 |
- | - - |
||
| 15,721 10,100 |
30 | 25,851 41,452 |
||
| 30,309 94,268 |
75,212 | 199,789 158,337 |
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| 46,030 104,368 |
225,640 199,789 |
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| 75,242 |
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ICF (Borehamwood) Charity: 1139389 Trustees Report and Financial Statements For the period ending 31st. March 2025
BALANCE SHEET
| BALANCE SHEET | ||||||
|---|---|---|---|---|---|---|
| Unrestric | Designat | Restricte | Total | Total Total |
||
| Year ending 31st. March 2025 | ted | ed | d | funds | funds | |
| Note | income | funds | income | 2025 | 2024 | |
| £ | £ | £ | £ | |||
| Current assets | £ | |||||
| Debtors | 5 | 13,382 | 0 | 13,382 | 5,022 | |
| Cash at bank and in hand | 36,060 | 104,368 | 75,242 | 215,670 | 196,469 | |
| Total current assets | 49,442 | 104,368 | 75,242 | 229,052 | 201,491 | |
| Creditors: amounts falling due | ||||||
| within 1 year | 6 | (3,412) | - | - | (3,412) | (1,702) |
| Net assets | 46,030 | 104,368 | 75,242 | 225,640 | 199,789 | |
| Funds of the Charity | ||||||
| Unrestricted funds | 7 | 46,030 | 46,030 | 30,309 | ||
| Designated funds | 7 | 104,368 | 104,368 | 94,268 | ||
| Restricted income funds | 7 | 75,242 | 75,242 | 75,212 | ||
| Total funds | 46,030 | 104,368 | 75,242 | 225,640 | 199,789 |
Signed on behalf of the trustees:
Olabode Awogbade Chair of Trustees 26[th] January 2026
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ICF (Borehamwood) Charity: 1139389 Trustees Report and Financial Statements For the period ending 31st. March 2025
Notes to the Financial Statements
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
1.1 General information and basis of preparation
ICF Borehamwood is a Charitable Incorporated Organisation (CIO) in England.
The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The charity constitutes a public benefit entity as defined by FRS 102.
The accounts are prepared on a going concern basis under the historical cost convention. The accounts are presented in sterling which is the functional currency of the charity and are round to the nearest whole £.
1.2 Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).
2. ACCOUNTING POLICIES
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period.
2.1 Funds accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. Transfers are made from unrestricted to restricted funds as necessary to prevent restricted funds from going into deficit. Transfers are also made between restricted funds according to requests from donors after the donations are made. Funds that are designated by the trustees are held as such.
2.2 Incoming resources
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the income, if it is more likely than not that it will receive the resources and the amount can be quantified with reasonable accuracy. Voluntary income is received by way of donations and gifts and is included in full in the SoFA when receivable. Grants are included in the SoFA when the general income recognition criteria above are met. The value of services provided by volunteers has not been included in these accounts. Investment income is included when received.
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ICF (Borehamwood) Charity: 1139389 Trustees Report and Financial Statements For the period ending 31st. March 2025
2.3 Resources expended
Expenditure is recognized on an accrual basis as a liability is incurred. Expenditure includes any VAT that cannot be fully recovered, which is reported as part of the expenditure to which it relates.
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 costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the charity’s legal constitution.
2.4 Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amounts advanced by the charity. Subsequently, they are measured at cash or other consideration expected to be received.
2.5 Creditors
Creditors and accruals are recognized when liability for payment is recognized but not paid.
2.6 Capital Assets
These are only capitalised for item expenditures in excess of £1,000.
3.1 ANALYSIS OF INCOME for the current year
| Unrestricted Designated Restricted Total funds Total funds funds funds funds 2025 2024 £ £ £ £ £ 65,670 - 80 65,750 70,958 13,433 - 13,433 16,362 |
|
|---|---|
| Voluntary Income | |
| Donations | |
| Gift Aid | |
| Total Voluntary Income | 79,103 - 80 79,183 87,320 |
| Charitable activities | |
| Hall Hire | 11,065 - - 11,065 13,035 3,860 - - 3,860 3,072 14,925 - 14,925 16,107 |
| Interest | |
| Total other charitable activities | |
| Total Income | 94,028 - 80 94,108 103,427 |
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ICF (Borehamwood) Charity: 1139389 Trustees Report and Financial Statements For the period ending 31st. March 2025
4.1 ANALYSIS OF EXPENDITURE for the current year
| Unrestricted Designated Restricted Total funds Total funds funds funds funds 2025 2024 £ £ £ £ - - - 249 |
|
|---|---|
| Expenditure on generating funds | |
| Advertising | |
| Total Expenditure on generating funds |
- - - 249 |
| Expenditure on charitable activities | 22,308 - 22,308 22,308 1,400 - 1,400 800 14,175 - 14,175 13,100 7,275 - 7,275 7,302 3,314 - 3,314 5,648 2,913 - 2,913 2,411 9,189 - 9,189 4,521 - 1,900 50 1,950 1,664 5,733 - 5,733 3,972 66,307 1,900 50 68,257 61,726 |
| Pastors Remuneration Honoraria Rents Utilities Building Maintenance Administration Ministry Expenses Benevolent Giving Missions Giving |
|
| Total expenditure on charitable activities |
|
| Grand Total Expenditures | 66,307 1,900 50 68,257 61,975 |
4.2 Transactions with trustees and related parties
Rev Olabode Awogbade is remunerated as Pastor of the church as allowed by our constitution. He is also a trustee but is not remunerated.
Trustees and related persons have donated £19,204.30 to the Church.
| 5 DEBTORS | 2025 | 2024 |
|---|---|---|
| £ | £ | |
| Gift Aid receivable | 13,425 | 4,275 |
| Trade Debtors | (43) | 747 |
| Total Debtors | 13,382 | 5,022 |
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ICF (Borehamwood) Charity: 1139389 Trustees Report and Financial Statements For the period ending 31st. March 2025
| 6 CREDITORS AND ACCRUALS | 2025 £ |
2024 £ |
|---|---|---|
| Deposit | 1,000 | 1,000 |
| Accrual - Accounting Services & Independent | - | |
| Examiner | 1,710 | |
| Other Accruals | 702 3,412 |
702 |
| Total | 1,702 |
7. CHARITY FUNDS
7.1 Details of All Funds with movements during the CURRENT reporting period 2025
| Opening | Closing | ||||
|---|---|---|---|---|---|
| Fund | Balance | Income | Expenditure | Transfers | Balance |
| General | 30,309 | 94,028 | (66,307) | (12,000) | 46,030 |
| Total Unrestricted | 30,309 | 94,028 | (66,307) | (12,000) | 46,030 |
| Aid to others | 3,000 | - | - | - | 3,000 |
| Benevolent-1 | 2,699 | - | (1,900) | - | 799 |
| Building-1 | 58,069 | - | - | 6,000 | 64,069 |
| Homeless | 1,000 | - | - | - | 1,000 |
| Mandy | 500 | - | - | - | 500 |
| Ministry-1 | 28,000 | - | - | 6,000 | 34,000 |
| Sundry | 1,000 | - | - | - | 1,000 |
| Total Designated | 94,268 | - | (1,900) | 12,000 | 104,368 |
| Benevolent-2 | 700 | 80 | (50) | - | 730 |
| Building-2 | 49,512 | - | - | - | 49,512 |
| Ministry-2 | 25,000 | - | - | - | 25,000 |
| Total Restricted | 75,212 | 80 | (50) | - | 75,242 |
| TOTAL - All Funds | 199,789 | 94,108 | (68,257) | - | 225,640 |
7.3 Reasons for transfers current year
| 7.3 Reasons for transfers | current year | ||
|---|---|---|---|
| Transfers from | Transfers To | Reason | Amount |
| General Unrestricted | Building Fund | Trustees Designation | £6,000 |
| General Unrestricted | Ministry | Trustees Designation | £6,000 |
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