CHARITY NUMBER: 1139669 (England and Wales)
Report of the Trustees and Financial Statements for the year ended 04th July 2024
For
THE SHEPHERD'S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM
E&E Accounting and Tax Services Ltd Suite 213 Spirella Building, Bridge Road Letchworth Garden City, England SG6 4ET
THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM Contents of the Financial Statements for the year ended 04th July 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 9 |
| Detailed Statement of Financial Activities | 10 to 11 |
THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM Report of the Trustees for the year ended 04th July 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 04th July 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity Number: 1139669 (England and Wales)
Registered Office: The Shepherd's House 3-5 Briar Way SKEGNESS Lincolnshire PE25 3NR
Trustees/Director: Dr Olusegun Odumade Mb,Chb - Chair Tanisha Campbell Dr Olusoji Sunday Odumade Dr Sabo Joseph Dankaro MBBS Tokunbo Oyadah B.Ed Dr Isaac Oluwatowoju Faith Odumade
Company Secretary
Independent Examiner E&E Accounting and Tax Services Ltd Suite 213 Spirella Building, Bridge Road Letchworth Garden City, England SG6 4ET
Website www.tsfic.org.uk Banker HSBC
THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM Report of the Trustees for the year ended 04th July 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Organisational Structure
The church is organised so that the trustees meet regularly to manage its affairs. There are pastors and other church volunteers who manages the day-to-day administrations of the church.
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.
Risk and its Management
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.
Financial Overview
The revenue received for the year amounted to £49,574.00 All these have been £45,055.00 unrestricted and £4,519.00 restricted. The total expenditure for the year is £46,964.00.
Future Developments
Our drive to raise the needed fund, build a multi-purpose auditorium and conference centre within the church property if in top gear with a view to getting the project started within the next financial year. The project would also cover Shepherd’s Café and Health & Fitness Centre.
THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM Report of the Trustees
for the year ended 04th July 2024
Principal Funding Sources
This is provided mainly through voluntary tithes and offerings by the church members and through gift aid scheme. Pledges are also taken for specific projects.
The Main Achievements of the Organisation During the Period
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At Christmas we made gift donations to the widows in the community.
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We gave out food items at Christmas to many families in the community, who are low-income earners.
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We organized Christmas carol and party for our members and the community, which was attended by other Pentecostal church members.
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As part of our contribution to our community, Our Sanitation department Volunteers Clean/Sweep the community centre where we hold our meetings every week.
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We regularly visit and pray for the sick in the hospital and at home to give them spiritual support.
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We offer free transportation services to members of the community from their houses to meeting centres.
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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.
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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.
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Provided free revision classes for primary pupils
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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.
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We encourage the members to start their own business.
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We organise quarterly question and answer programme for Family in the community, tagged “Family Forum”.
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Our charity donated to the following organisations: COMPASSION UK, EVANGELICAL ALLIANCE AND BIBLE SOCIETY UK.
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Our food bank has increased its capacity to continue to meet the ever-increasing demands for support in Skegness and communities around it.
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We continue to sponsor two children via Compassion UK. 16. We secured the church property by installing gates, internal security systems, and CCTVs.
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Our winter cloth bank continues to run to meet the demands of the community.
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Our Children and Teens church continue to operate to meet the needs of the respective age group.
THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM Report of the Trustees
for the year ended 04th July 2024
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees (who are also the directors of The Shepherd’s Flock International Church, United Kingdom for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently.
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observe the methods and principles in the Charity SORP.
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make judgements and estimates that are reasonable and prudent.
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
On behalf of the board:
Dr Olusegun Odumade Mb,Chb - Chair 18th December 2024
Independent Examiner's Report to the Trustees of THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM
I report on the accounts for the year ended 04th July 2024 set out on the pages attached.
Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors for the purposes of company law) 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 required. I am qualified to undertake the examination by being a qualified member of AIA.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under Section 43 of the 1993 Act
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to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 43(7)(b) of the 1993 Act); and
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to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. 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 no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
(2) to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.
E&E Accounting and Tax Services Ltd
18[th] December 2024
THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM Statement of Financial Activities
for the year ended 04th July 2024
| Notes Incoming Resources from Activities: Offering 2 Tithe 2 Gift -Aid/Grants 2 Project 2 Total Incoming Activities Resources Expended: Charitable/Church Activities 3 Support Activities 4 Governance Activities 5 Total Resources Expended Net income/(outgoing) resources Total funds brought forward Total funds carried forward |
Un-restricted funds 2024 £ 14,254 21,485 9,316 - 45,055 (4,288) (15,223) (2,015) (21,525) 23,530 111,868 135,398 |
Restricted Funds 2024 £ - - - 4,519 |
Total Funds Total Funds 2024 2023 £ £ 14,254 34,743 21,485 - 9,316 17,454 4,519 - |
|---|---|---|---|
| 4,519 | 49,574 52,197 |
||
| - (25,439) - (25,439) (20,920) 44,354 |
(4,288) (38,138) (40,661) (600) (2,015) (1,425) (46,964) (40,163) 2,610 12,034 156,222 144,188 |
||
| 23,434 | 158,832 156,222 |
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 04th July 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Total | Total | ||
| Notes | £ | £ | |
| Fixed Assets: | |||
| Tangible Assets | 6 | 355,305 | 353,680 |
| 355,305 | 353,680 | ||
| Current Assets: | |||
| Debtors | 7 | - | - |
| Cash at Bank and in Hand | 8 | 12,365 | 13,802 |
| 12,365 | 13,802 | ||
| Current Liabilities | |||
| Creditors: amounts falling due within one year | 9a | (300) | (375) |
| (300) | (375) | ||
| Net Current Assets/(Liabilities) | 12,065 | 13,427 | |
| Long Term Liabilities: | |||
| Creditors: amounts falling due more than one year | 9b | (208,538) | (210,885) |
| Total Assets Less Liabilities | 158,832 | 156,222 | |
| Financed By: | |||
| Unrestricted funds | 10 | 135,398 | 111,868 |
| Restricted Funds | 11 | 23,434 | 44,354 |
| Total Funds | 158,832 | 156,222 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 04th July 2024.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 04th July 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
Type text here
Dr Olusegun Odumade Mb,Chb - Chair 05th December 2024
THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM Balance Sheet – Note to the Account
for the year ended 04th July 2024
1. ACCOUNTING POLICIES
Accounting Convention
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming Resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income, and the amount can be quantified with reasonable accuracy.
Resources Expended .
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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.
Tangible Fixed Assets
Depreciation is provided at the following annual rates to write off each asset over its estimated useful life.
Equipment and Instruments - 18% on NBV. Fixtures and fittings - 25% on reducing balance. Motor vehicles - 25% on reducing balance.
Taxation
The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008)
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM Balance Sheet – Note to the Account
for the year ended 04th July 2024
Note 2. Incoming Resources - General Donations
| Note 2. Incoming Resources - General Donations |
||||
|---|---|---|---|---|
| Offering Tithe Gift -Aid/Grants Project Note 3. Resources Expended - Charitable/Church Donations & Gifts Evangelism & Outreach Welfare Special Activities Note 4. Resources Expended - Support Events & Other Bank Charges Mission Support/Volunteers Allowance Telephone Honorarium Church Building Project Utilities |
Unrestricted Funds £ 14,254 21,485 9,316 - 45,055 Unrestricted Funds £ 1,242 - 1,523 1,523 4,288 Unrestricted Funds £ - 118 428 197 950 - 2,993 |
Restricted Funds £ - - - 4,519 4,519 Restricted Funds £ - - - - - Restricted Funds £ - - - - - 14,708 - |
2024 Total Funds £ 14,254 21,485 9,316 4,519 49,574 2024 Total Funds £ 1,242 - 1,523 1,523 4,288 2024 Total Funds £ - 118 428 197 950 14,708 2,993 |
2023 Total Funds £ 34,743 17,454 - - |
| 52,197 | ||||
| 2023 Total Funds £ - - - - |
||||
| - | ||||
| 2023 Total Funds £ 2,600 119 600 296 350 - 3,798 |
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| Insurance | 3,007 | - | 3,007 | 2,837 |
| Repairs & Maintenance Equipment Depreciation Subscription Website Travel and subsistence Social Action Membership Due Interest Payable - Mortgage Printing and Stationeries Hospitality Software/Internet |
660 - 1,164 407 - 1,628 - - - 371 2,635 665 15,223 |
- - - - - - - - 10,731 - - - 25,439 |
660 - 1,164 407 - 1,628 - - 10,731 371 2,635 665 40,661 |
2,454 2,700 808 - 280 1,046 10,854 180 8,857 959 - - |
| 38,738 | ||||
THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM Balance Sheet – Note to the Account Continuation for the year ended 04th July 2024
| Note 5. Resources Expended – Governance/Admin Unrestricted Funds £ Accountancy 300 Admin/Office Expense 783 Other professional fees 932 2,015 Note 6. Tangible/Fixed Assets: Building and Property £ Cost 350,000 Additions - Revaluation - Disposal - Total Costs 350,000 Depreciation Balance brought forward - Charge for the year - Disposal - Transfers Balance carried forward - Net book value At 04 July 2024 350,000 At 04 July 2023 350,000 Note 7. Debtors 2024 This is made up as follows: £ Member Loans - - Note 8. Cash at bank and in hand 2024 £ Cash at bank (Current and Project) 12,365 Cash at hand - 12,365 Note 9a. Creditors: amounts falling due within one year 2024 This is made up as follows: £ Accountancy Fees 300 Other creditors (Loan) - 300 |
Restricted Funds £ - - - - Equipments & Instruments £ 7,326 2,789 - - 10,115 3,646 1,164 - 4,810 5,305 3,680 2023 £ - - 2023 £ 13,802 - 13,802 2023 £ 375 - 375 |
2024 Total Funds £ 300 783 932 2,015 2024 Total £ 357,326 2,789 - - 360,115 3,646 1,164 - - 4,810 355,305 353,680 |
2023 Total Funds £ 375 - 1,050 |
|---|---|---|---|
| 1,425 | |||
| 2023 Total £ 357,326 - - - |
|||
| 357,326 | |||
| 2,838 808 - - |
|||
| 3,646 | |||
| 355,305 | |||
| 353,680 | |||
THE SHEPHERD’S FLOCK INTERNATIONAL CHURCH, UNITED KINGDOM Balance Sheet – Note to the Account Continuation
for the year ended 04th July 2024
Note 9b. Creditors: amounts falling due more than one year
| Creditors: amounts falling due more than | one year | |
|---|---|---|
| This is made up as follows: Other Loans Mortgage - Church Building |
2024 £ 40,000 168,538 208,538 |
2023 £ 40,000 170,885 |
| 210,885 |
Note 10a. Movement in funds
| Unrestricted funds Charity's fund Restricted funds Grants Note 10b. Analysis of net assets by fund Cash at bank and in hand Other net assets (liabilities) |
Opening balance £ - - - - Unrestricted Funds £ 12,365 146,467 158,832 |
Incoming resources £ 49,574 |
Resources expended £ (46,964) (46,964) - - 2024 2023 Total Total Funds Funds £ £ 12,365 13,802 146,467 142,420 158,832 156,222 |
|---|---|---|---|
| 49,574 | |||
| - | |||
| - | |||
| Restricted Funds £ - - |
|||
| - |
Note 11. Trustees Remuneration: The Trustees did not receive any emoluments and no out of pocket expenses were paid during the year (2024: £nil)
Note 12. Control The ultimate controlling parties are the directors/trustees as stated on page 2.