2022-07-04-accounts - The Shepherd's Flock International Church, United Kingdom

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THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM

Report and Financial Statements For the Year ended 04 July 2022

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 04 July 2022

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	11-14

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

FOR THE YEAR ENDED 04 July 2022

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

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 04 July 2022

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 2022. 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.

3) Giving psychological and emotional assurance to members via the word of faith and spiritual support

THE MAIN ACHIEVEMENTS OF THE ORGANISATION DURING THE PERIOD WERE:

At Christmas we made gift donations to the widows in the community.
We gave out food items at Christmas to many families in the community, who are low-income earners.
We organized Christmas carol and party for our members and the community, which was attended by other Pentecostal church members.
As part of our contribution to our community, Our Sanitation department Volunteers Clean/Sweep the community centre where we hold our meetings every week.
We regularly visit and pray for the sick in the hospital and at home to give them spiritual support.
We offer free transportation services to members of the community from their houses to meeting centres.
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.
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

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.

We organise quarterly question and answer programme for Family in the community, tagged “Family Forum”.
We donate regularly to the following charity: COMPASSION UK, EVANGELICAL ALLIANCE AND BIBLE SOCIETY UK.

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

FOR THE YEAR ENDED 04 July 2022

PLANS FOR THE FUTURE

We plan to open a food bank, clothes bank, soup kitchen for the elderly and vulnerable in the environ and also organize a programme for non-English speaking people in collaboration with the council.

INCOME GENERATION

The Charity has generated £76,927.00 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:

a) Reputation of Charity and the relationship with the community.
b) Ability to generate enough funds to successfully complete the identified projects for the charity.

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 is held to meet the above policy of the Charity going forward.

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM

REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 04 July 2022

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 2022, 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:

A strategic plan and annual budget approved by the Trustees;
regular consideration by the Trustees of financial results, in particular variance from budget; and
Delegation of authority and segregation of duties.

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:

select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in its activities.

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.

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM

REPORT OF THE TRUSTEES (continued)

YEAR ENDED 04 July 2022

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 2022. 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 28th March 2023

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 2022, 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:

examine the accounts (under section 43(3)(a) of the 1993 Act);
to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7)(b) of the 1993 Act); and
To state whether particular matters have come to our attention.

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,

to keep accounting records in accordance with section 41 of the 1993 Act; and
To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act as amended.

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

28th March 2023

THE SHEPHERD'S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) YEAR ENDED 04 July 2022

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 2022 £ 67,200 9,727	Restricted Funds 2022 £ - - - - - - - 44,354 44,354	Total Funds 2022 £ 67,200 9,727 76,927 32,179 2,450 13,575 48,204 28,723 115,465 144,188	Total Funds 2021 £ 30,859 23,217
	76,927			54,076
	32,179 2,450 13,575			7,042 2,721 3,225
	48,204			12,989
	28,723 71,111			41,087 74,378
	99,834			115,465

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.

THE SHEPHERD'S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM BALANCE SHEET AS AT 04 July 2022

2022 Total Notes £ £ FIXED ASSETS Tangible Assets 6 354,487 CURRENT ASSETS Cash at bank and in hand 7 5,001 5,001 Current Liabilities Creditors: amounts falling due within one year 8 (300) Total Asset Less Current Liabilities 359,188 Current Liabilities Creditors: amounts falling due more one year 9 (215,000) NET ASSETS 144,188 FINANCED BY: Unrestricted funds 99,834 Restricted Funds 44,354 TOTAL FUNDS 10 144,188	2021 Total £ 5,253 110,691
	110,691
	(480)
	115,465

	-

	115,465
	71,111 44,354
	115,465

For the year ending 04 July 2022, 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 28th March 2023

THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 04 July 2022

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.

THE SHEPHERD'S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 04 July 2022

Note 2. Incoming Resources - General Donations

Note 2. Incoming Resources - General Donations
General Donations Note 3. Incoming Resources - Other Income Other income Note 4. Resources Expended - Activities Events & Other bank charges Mission Support Insurance Repairs Equipment Depreciation Subscription Website Travels Sundry Rent Note 5. Resources Expended – Governance Accountancy Other professional fees	Unrestricted Funds £ 67,200 67,200 Unrestricted Funds £ 9,727 9,727 Unrestricted Funds £ 822 98 2,450 4,647 12,356 4,772 766 284 2,005 4,808 1,622 34,629 Unrestricted Funds £ 300 13,275 13,575	Restricted Funds £ - - Restricted Funds £ - - Restricted Funds £ - Restricted Funds £ -	2022 Total Funds £ 67,200 67,200 2022 Total Funds £ 9,727 9,727 2022 Total Funds £ 822 98 2,450 4,647 12,356 4,772 766 - 284 2,005 4,808 1,622 34,629 2022 Total Funds £ 300 13,275 13,575	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

THE SHEPHERD'S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 04 July 2022

			2022
Note 6. TANGIBLE ASSETS Cost Additions Revaluation Disposal Total Costs Depreciation Balance brought forward Charge for the year Disposal Transfers Balance carried forward Net book value	£ 350,000 - - - 350,000 - - - -	Office Equipment £ 7,326 - -	Total £ 357,326 - - - 357,326 2,073 766 - - 2,839 354,487
		7,326
		2,073 766 -
		2,839

Note 7. Cash at bank and in hand 2022 £ Cash at bank 5,001 5,001 Note 8. Creditors: amounts falling due within one year 2022 This is made up as follows: £ Accountancy Fees 300 300 Note 9. Creditors: amounts falling due more than one year 2022 This is made up as follows: £ Other Loans- Dr Sunday Odumade 40,000 Mortgage Loan 175,000 215,000		2021 £ 110,691
		110,691
		2021 £ 480
		480
		2021 £ - -
		-

THE SHEPHERD'S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 04 July 2022

Note 10. Movement in funds

Unrestricted funds Charity's fund Restricted funds Gift Aid Analysis of net assets by fund Cash at bank and in hand Other net assets (liabilities)	Opening balance £ - - - - Unrestricted Funds £ 5,001 139,187 144,188	Incoming resources £ 76,927	Resources expended £ (48,204) (48,204) - (48,204) 2022 Total Funds £ 5,001 139,187 144,188	2021 Total Funds £ 110,691 4,773
		76,927
		-
		76,927
		Restricted Funds £ - -
		-		115,465

Note 10.1 Analysis of net assets by fund

Note 11. TRUSTEES REMUNERATION

The Trustees did not receive any emoluments and no out of pocket expenses were paid during the year (2022: £nil)

Note 12. As a company, THE SHEPHERD'S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its objects. No tax charges have arisen in the Company.

Note 13. Control

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