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2021-07-04-accounts

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM

Report and Financial Statements For the Year ended 04 July 2021

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 04 July 2021

Contents Page
Legal and Administrative Information 2
Report of the Trustees 3-7
Independent Examiner's report 8
Statement of Financial Activities 9
Balance sheet 10
Notes forming part of the Financial statements 11-13

1

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 04 July 2021

LEGAL AND ADMINISTRATIVE INFORMATION

Officers and Professional advisers

TRUSTEES

Dr ISAAC OLUWATOWOJU Dr SABO JOSEPH DANKARO MBBS DR OLUSEGUN ODUMADE MB,CHB TANISHA CAMPBELL TOKUNBO OYADAH B.ED FAITH ODUMADE DR OLUSOJI SUNDAY ODUMADE

REGISTERED OFFICE

EAST HOLME CROFT LANE CROFT SKEGNESS PE24 4PA

BANKERS

HSBC BANK

EXAMINER

AACSL Accountants Limited 1st Floor North Westgate House Harlow Essex CM20 1YS

CHARITY COMMISSION REGISTERED NUMBER 1139669

2

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 04 July 2021

The Trustees, for the purposes of the Charities Act 1993 as amended and Statement of Recommended Practice (SORP) 2005, submit their annual report and financial statements for the year ended 04 July 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in March 2005 in preparing the annual report and financial statements of the Charity. The Charity is governed by a Memorandum and Articles of Association.

PRINCIPAL ACTIVITIES, AIMS AND ORGANISATION OF THE CHARITY

The principal activities of the charity continue to be the provision of religious activities, church services, counselling, seminars and other community-based services. The objects of the trust ("the objects") are:

1) The advancement of Christian faith in United Kingdom and worldwide in accordance with the doctrines set out in the statement of faith contained in the schedule.

2) The relief of poverty.

THE MAIN ACHIEVEMENTS OF THE ORGANISATION DURING THE PERIOD WERE:

  1. At Christmas we made gift donations to the widows in the community.

  2. We gave out food items at Christmas to many families in the community, who are low income earners.

  3. We organized Christmas carol and party for our members and the community, which was attended by other Pentecostal church members.

  4. As part of our contribution to our community, Our Sanitation department Volunteers Clean/Sweep the community centre where we hold our meetings every week.

  5. We regularly visit and pray for the sick in the hospital and at home to give them spiritual support.

  6. We offer free transportation services to members of the community from their houses to meeting centres.

  7. Our drop-in-centre, continue to serve the community and members with free Tea/Beverages/Coffee and Orange/Apple Juice with snacks every Sunday afternoon from 11am -3pm.

  8. We provided counsel and information for people/family facing homelessness, and accommodation challenges; we were able to refer 2 people to Local authority and other organisation who assisted them.

9. Provided free revision classes for primary pupils

  1. We continue to carry out various youth programmes for our youth in the community and we have received reports from parents that our youths are behaving well at school and Home.

11. We encourage the members to start their own business.

  1. We organise quarterly question and answer programme for Family in the community, tagged “Family Forum”.

  2. We donate regularly to the following charity: COMPASSION UK, EVANGELICAL ALLIANCE AND BIBLE SOCIETY UK.

3

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM REPORT OF THE TRUSTEES (Continued)

FOR THE YEAR ENDED 04 July 2021

PLANS FOR THE FUTURE

We plan to continue carrying out various youth programmes for our youth in the community. Already we have received reports from parents that our youths are behaving well at school and home.

INCOME GENERATION

The Charity has generated £54,076.00 in donations during the year. This includes both direct transfers into charity’s account and cash donations.

RISKS

The factors that may affect the Charity’s delivery of its objectives include:

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM produces an annual plan for delivery against its objectives. This plan sets out the targets for the year and is then broken down to a work plan. THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM has developed a strategy, which specifies how it will deliver the key programmes of work. The strategy also identifies targets and performance indicators.

RESERVES POLICY

The Charity aims to build reserve which will enable it to meet its average annual operational need. The Trustees review the reserves held by the Charity on a regular basis to ensure that an appropriate level of funds are held to meet the above policy of the Charity going forward.

4

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM

REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 04 July 2021

GOVERNANCE AND INTERNAL CONTROL

A Board of Trustees governs the Charity. New Trustees are selected by the Board of Trustees and are subject to re-election every five years. At 04 July 2021, the Board had a membership of Seven (7) people.

The Board meets three times a year to agree key policy decisions, set the strategy for the charity and oversee its performance. At present the Board has committee members who are responsible for the day-to-day activities of the charity. None of the committee members is being remunerated.

All Trustees receive the handbook for Trustees’ provided through the Charity Commission. Each Trustee will have an induction programme by other Trustees and receive an information pack on the Charity and its finances. Beyond this the Charity follows the code of practice for governance produced by the Governance Hub.

Company law requires the Trustees to prepare financial statements for each financial year, which comply with the Charities Act 1993 as amended

The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss.

They include:

5

STATEMENT OF TRUSTEES RESPONSIBILITIES IN RESPECT OF THE TRUSTEES' ANNUAL REPORT AND THE FINANCIAL STATEMENTS

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice).

The financial statements are required by law to give a true and fair view of the state of affairs of the charitable company and of the excess of income over expenditure for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that its financial statements comply with the Charities Act 1993 as amended. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.

6

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM

REPORT OF THE TRUSTEES (continued)

YEAR ENDED 04 July 2021

DISCLOSURE OF INFORMATION TO EXAMINER

The trustees who held office at the date of approval of this trustees’ report confirm that, so far as they are each aware, there is no relevant information of which the Charity’s examiner is unaware; and each trustee has taken all the steps that he/she ought to have taken as a trustee to make himself/ herself aware of any relevant information and to establish that the Charity’s examiner is aware of that information.

EXAMINER

In line with the provision exemption in the Charities Act 1993 as amended, the trust decided to appoint an examiner, which will review the accounts for the year ended 04 July 2021. In accordance with this appointment, AACSL Accountants Limited was appointed as examiner.

Approved by the Board of Trustees and signed on behalf of the Board by:

DR OLUSEGUN ODUMADE MB,CHB on behalf of the trust. Trustee 1st September 2021

7

Independent Examiner’s Report to the Trustees of THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM

We report on the accounts of the Trust for the year ended 04 July 2021, which are set out on pages 9 to 13.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the 1993 Act)) and that an independent examination is needed.

It is our responsibility to:

Basis of independent examiner’s report

Our 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 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 we do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

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

(1) Which gives us reasonable cause to believe that in any material respect the requirements,

Have not been met; or

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

AACSL Accountants Limited 1st Floor North Westgate House Harlow Essex CM20 1YS

1st September 2021

8

THE SHEPHERD'S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) YEAR ENDED 04 July 2021

Notes
INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
General Donations
2
Other income
3
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Cost of Generating Funds
Charitable activities
4
Governance
5
TOTAL RESOURCES EXPENDED
Net income/(outgoing) resources
Total funds brought forward
Total funds carried forward		 Un-restricted
funds
2021
£
27,259

23,217		 Restricted
Funds
2021
£
3,600
-
3,600
-
-
-
-
3,600

40,754
44,354		 Total Funds
2021
£
30,859
23,217
54,076
7,042
2,721
3,225
12,989
41,087
74,378
115,465		 Total Funds
2020
£
22,624
-
50,476 22,624
7,042
2,721
3,225		 12,384
1,200
4,865
12,989 18,449
37,487
33,624		 4,175
70,203
71,111 74,378

All incoming resources are derived from continuing operations. The charity has no other gains or losses other than those recognised in the Statement of Financial Activities.

9

THE SHEPHERD'S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM BALANCE SHEET AS AT 04 July 2021

2021
Total
Notes
£
£
FIXED ASSETS
Tangible Assets
6
5,253
CURRENT ASSETS
Prepayments
7
-
Cash at bank and in hand
8
110,691
110,691
Current Liabilities
Creditors: amounts falling due within one year
9
(480)
Total Asset Less Current Liabilities
115,465
Current Liabilities
Creditors: amounts falling due more one year
9
-
NET ASSETS
115,465
FINANCED BY:
Unrestricted funds
10
71,111
Restricted Funds
44,354
TOTAL FUNDS
11
115,465		 2020
Total
£
5,189
1,000
68,189
69,189
-
74,378
-
74,378
33,624
40,754
74,378

For the year ending 04 July 2021, the Charity was entitled to exemption from audit under section 477(2) of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibility for complying with the requirement of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The Accounts was approved by the Board of Trustees and signed on behalf of the Board by:

DR OLUSEGUN ODUMADE MB,CHB on behalf of the trust. Trustee 1st September 2021

10

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 04 July 2021

1. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), “Accounting and Reporting by Charities” (2005), the Charity Act 1993 and applicable UK accounting standards.

Cash flow statement

Under FRS 1 the Charity is exempt from the requirement to prepare a cash flow statement on the grounds that the charity is below the threshold specified in Appendix 2 of the FRS1.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in Note 2.

Investment income and gains are allocated to the appropriate fund.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The grant income where related to performance and specific deliverables are accounted for as the Charity earns the right to consideration by its performance. Where income is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income being received, the income is accrued.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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. Premise’s overheads have been allocated on a floor basis and other overheads have been allocated on the basis of the head count.

Community project costs are those costs incurred directly in support of the objects of the Charity. The community project cost includes other support costs incurred in support of the objects of the Charity. Governance costs are those incurred in connection with governance arrangement of the Charity, which relate to the general running of the Charity and compliance with constitutional and statutory requirements. The basis of allocation for support costs and governance costs has been explained in Note 3.

11

THE SHEPHERD'S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 04 July 2021

Note 2. Incoming Resources - General Donations

Note 2.
Incoming Resources - General Donations
General Donations
Note 3.
Incoming Resources - Other Income
Other Donatons
Events income
Other income
Note 4.
Resources Expended - Activities
Events & Other
bank charges
Stationery
Mission Support
Telephone
Honorarium
Utilities
Insurance
Repairs
Equipment
Depreciation
Subscription
Website
Travels
Internet
Member's Expense
Rent
Note 5.
Resources Expended – Governance
Accountancy
Other professional fees		 Unrestricted
Funds
£
27,259
27,259
Unrestricted
Funds
£
-
-
23,217
23,217
Unrestricted
Funds
£
800
2,721
609
510
3,535
934
180
170
305
9,763
Unrestricted
Funds
£
1,280
1,945
3,225		 Restricted
Funds
£
3,600
3,600
Restricted
Funds
£
-
-
-
-
Restricted
Funds
£
-
Restricted
Funds
£
-		 2021
Total
Funds
£
30,859
30,859
2021
Total
Funds
£
-
-
23,217
23,217
2021
Total
Funds
£
800
-
-
2,721
-
-
-
609
510
3,535
934
180
170
-
-
-
305
9,763
2021
Total
Funds
£
1,280
1,945
3,225		 2020
Total
Funds
£
22,624
22,624
2020
Total
Funds
£
-
-
-
-
2020
Total
Funds
£
9,390
750
593
282
1,139
230
2,250
2,615
17,249
2020
Total
Funds
£
-

12

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 04 July 2021

----- Start of picture text -----
2021 2020
Freehold Office
Note 6. TANGIBLE ASSETS Property Equipment Total Total
£ £ £ £
Cost - 6,328 6,328 -
Additions - 998 998 6,328
Revaluation - - - -
- - - -
Disposal
Total Costs - 7,326 7,326 6,328
Depreciation
- -
Balance brought forward 1,139 1,139
Charge for the year - 934 934 1,139
- - - -
Disposal
Transfers - -
Balance carried forward - 2,073 2,073 1,139
Net book value 5,253 5,189
Note 7. Debtors
2021 2020
This is made up as follows: £ £
Member Loans - 1,000
- 1,000
Note 8. Cash at bank and in hand 2021 2020
£ £
Cash at bank 110,691 68,189
Cash at hand - -
110,691 68,189
Note 9. Creditors: amounts falling due within one year
2021 2020
This is made up as follows: £ £
Accountancy Fees 480 -
- -
Other creditors (Loan)
480 -
Note 10. Creditors: amounts falling due more than one year
2021 2020
This is made up as follows: £ £
Other Loans - -
- -
Mortgage Loan
- -
----- End of picture text -----

13

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 04 July 2021

Note 11. Movement in funds

Unrestricted funds
Charity's fund
Restricted funds
Gift Aid
Note 11.1
Analysis of net assets by fund
Cash at bank and in hand
Other net assets (liabilities)		 Opening
balance
£
-
-
-
-
Unrestricted
Funds
£
110,691
4,773
115,465		 Incoming
resources
£
50,476		 Resources
expended
£
(12,989)
(12,989)
-
(12,989)
2021
2020
Total
Total
Funds
Funds
£
£
110,691
69,189
4,773
5,189
115,465
74,378
50,476
3,600
54,076
Restricted
Funds
£
-
-
-

Note 14. Control

The ultimate controlling parties are the directors’ as stated on page 2.

14