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2020-10-31-accounts

Believers' Generation Of Believers' Foundation

Charity No. 1147951

Company No. 05902003

Trustees' Report and Unaudited Accounts

31 October 2020

Believers' Generation Of Believers' Foundation Contents

Pages
Trustees’ Annual Reports 3 – 6
Statement of financial Activities 5
Summary Income and Expenditure Account 8
Balance Sheet 9
Notes to the Accounts 10 – 16
Detailed Statement of Financial Activities 17

Page 2

Believers ' Generation Of Believers' Foundation Trustees Annual Report

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 October 2020.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 05902003

Charity No. 1147951

Registered Office

Suite 7-9 Birch House

Birch Walk Off Fraser Road

Erith

Kent

DA81QX

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

C. Falana

K. Falana

H. Johnson

I. Popoola

Accountants

EBO ASSOCIATES

SA MARKET STREET

EAST HAM

E6 2RH

Page 3

Believers' Generation Of Believers' Foundation

Independent Examiners Report

The purpose of the charity as set out in its governing document...Believers' Generation of Believers'

Foundation is an organisation, registered as a company limited by guaranteeand also registered as a charity. The objectives of Believer's Generation of Believers; Foundation are:

The main activities of the organization over the past year include promoting Christian worship, training and seminars, conducting outreach programmes so as to increase awareness. The organisation conducts weekly Sunday worship services, bible study and mid-week prayer meetings, we run seminars in the organization with trained ministers so as to facilitate our members in the various aspects of Christian fait h. Achievements and Performances

Fruit Bank

We have been aware that there is a increasing amount of health and obesity issue within the community over the past few years. The opportunity to give fruits to aid a healthy diet to community members is an important role for the Foundation and forms part of our outreach work.

The fruit bank serves as an opportunity for our organisation to not only promote better eating habits within the community but it also serves as a means of reaching out to the wider community so as to highlight the various different services that the Believers of Faith Foundation can offer to the community as well as encouraging new members to the Christian faith .

This has proved to be very successful and we believe that this can be extended further so as to meet the growing demand for this service.

Pastoral Visitors Training

the programme aims to support the increasing demand for not only to members that are unable to visit the church each Sunday but also to those elderly and vulnerable individuals within the community sector.

Group training is given to all volunteer Pastoral visitors in specifically key areas in particular child Protection Issues, Health and Safety ad also to develop strong listening Skills.

All training is given by trained professionals and the Foundation works closely with a qualified Counsellor so that any issues as a result of any Pastoral visits ae dealt with in an appropriate manner.

Senior Citizen Luncheon Programme

This programme allows for the senior members of the church and its members within the community to meet once week so as to embark on lunch together and more importantly so as to socialise with one another.

Given the lack of local Government funding for the Senior Citizens this programme caters for an area of work that is very significant within the communit y. The Believers Faith Foundation would very much like to expand upon this area of work as it enables a stronger link within the community and its members.

Youth Development Group

This group was specifically devised from the increasing number of young people within the Believer's Faith Foundation who unable to voice their thoughts opinions and ideas outside the context of their homes and school.

We are fortunate to have a trained Youth Worker with volunteers who are able to run this weekly group. We are working closely with the local schools so as to encourage those students who are also denied any after school activities due in part to lack of funding.

Page 4

Believers' Generation Of Believers' Foundation Independent Examiners Report

however due to the Covid-19 we are aware that we may have to reformat our approach to this group as we recognise the importance of this group.

The essence of the group is to work with young people in supporting the emotionally, spiritually, and physically. This serves to further enhance both their self-esteem and confidence.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy to show the financial position of the charity and to enable them to ensure that the financial statements submitted are prepare as the required standards.

Page 5

Believers' Generation Of Believers' Foundation Independent Examiners Report

Independent Examiner's Report to the trustees of Believers' Generation Of Believers' Foundation

I report to the charity trustees on my examination of the accounts of Believers' Generation Of Believers' Foundation for the year ended 31 October 2020 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(S)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examinat ion . I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

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.

EBD ASSOCIATES SA MARKET STREET EAST HAM

E6 2RH 31 October 2020

Page 6

Believers' Generation Of Believers' Foundation Statement of Financial Activities

for the year ended 31 October 2020

Notes
Income and endowments
from:
Donations and legacies
4
Total
Expenditure on:
Charitable activities
5
Net gains on investments
Net expenditure
Transfers between funds
Net expenditure before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2020
£
52,202		 Total funds
2020
£
52,202		 Total funds
2019
£
49,645
52,202
53,881		 52,202
53,881		 49,645
49,938
53,881 53,881 49,938
(1,679) (1,679) (293)
(1,679) (1,679) (293)
(1,679)
3,003		 (1,679)
3,003		 (293)
3,296
1,324 1,324 3,003

Page 7

Believers' Generation Of Believers' Foundation Summary Income and Expenditure Account

for the year ended 31 October 2020

Income
Gross income for the year
Expenditure
Total expenditure for the year
Net expenditure before tax for the year
Net expenditure for the year		 2020
£
52,202
52,202
53,881
53,881
{1,679)
{1,679)		 2019
£
49,645
49,645
49,938
49,938
{293)
{293)

Page 8

Believers' Generation Of Believers' Foundation Balance Sheet

at 31 October 2020

Company No.
05902003
Notes
Fixed assets
Tangible assets
7
Current assets
Cash at bank and in hand
Net current assets
Total assets less current liabilities
Creditors:Amounts falling due after more than one year
8
Net assets excluding pension asset or liability
Total net assets
The funds of the charity
Restricted funds
9
Unrestricted funds
General funds
9
Reserves
9
Total funds
2020
£

2,075
2,075
149
149
149
2,224
(900)
1,324
1,324
1,324
1,324
1,324		 2019
£
2,202
2,202
1,701
1,701
1,701
3,903
(900)
3,003
3,003
3,003
3,003
3,003

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 October 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies .

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 31 October 2020

And signed on its behalf by:

C. Falana

Trustee

31 October 2020

Page 9

Believers' Generation Of Believers' Foundation Statement of Cash flows

for the year ended 31 October 2020

Cash flows from operating activities
Net expenditure per Statement of Financial Activities
Adjustments for:
Depreciation of property, plant and equipment
Decrease in trade and other payables
Net cash used in operating activities
Cash flows from investing activities
Payments for property, plant and equipment
Net cash used in investing activities
Net cash from financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Components of cash and cash equivalents
Cash and bank balances		 2020
£
(1,679)
456
(1,223)
(329)
(329)
{1,552)
1,701
149
149
149		 2019
£
(293)
484
{232)
(41)
(41)
1,742
1,701
1,701
1,701

Page 10

Believers ' Generation Of Believers' Foundation

Notes to the Accounts

for the year ended 31 October 2020

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability . Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relat es. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of invest ments . investment assets

Page 11

Believers ' Generation Of Believers' Foundation Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable act ivit ies.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Intangible fixed assets and amortisation

Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 12

Believers ' Generation Of Believers' Foundation

Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a lia bility . The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligati ons. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 13

Believers ' Generation Of Believers' Foundation

Notes to the Accounts

3 Statement of Financial Activities - prior year

Income and endowments from:
Donations and legacies
Expenditure on:
Charitable activities
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
4
Income from donations and legacies
5
Expenditure on charitable activities
Expenditure on charitable
activities
Governance costs
Professional Fees
Bank Charges
Depreciation		 Unrestricted
£
52,202
52,202
Unrestricted
£
52,214
900
311
456
53,881		 Unrestricted
funds
2019
£
49,645
49,645
49,938
49,938
(293)
(293)
(293)
3,296
3,003
Total
2020
£
52,202
52,202
Total
2020
£
52,214
900
311
456
53,881		 Total funds
2019
£
49,645
49,645
49,938
49,938
(293)
(293)
(293)
3,296
3,003
Total

2019
£
49,645
49,645
Total
2019
£
48,441
900
113
484
49,938

Page 14

Believers' Generation Of Believers' Foundation

Notes to the Accounts

No employee received emoluments in excess of £60,000.

General funds
Revaluation Reserves:
Cost or revaluation
At 1 November 2019
Additions
At 31 October 2020
Depreciation and
impairment
At 1 November 2019
Depreciation charge for the
year
At 31 October 2020
Net book values
At 31 October 2020
At 31 October 2019
8
Creditors:
amounts falling due after more than one year
Other creditors
9
Movement in funds
Restricted funds:
Unrestricted funds:
Total funds
■		 52,202
2020
£
900
900
Incoming
resources
(including
other
gains/losses
£
52,202		 (53,881)
£
5,524
329
5,853
3,322
456
3,778
2,075
2,202
Resources
expended
£
(53,881)		 1,324
£
5,524
329
5,853
3,322
456
3,778
2,075
2,202
2019
£
900
900
At31
October
2020
£
1,324

Page 15

Believers ' Generation Of Believers' Foundation

Notes to the Accounts

10 Analysis of net assets between funds

Fixed assets
Net current assets
Creditors due in more than one year and
provisions
11Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1
November
2019
£
1,701
1,701
1,701		 Cash flows
£
(1,552)
(1,552)
(1,552)		 Unrestricted
funds
£
2,075
149
(900)
1,324
New
HP/Finance
leases
£		 Total
£
2,075
149
(900)
1,324
At31
October
2020
£
149
149
149

12 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 16

Believers' Generation Of Believers' Foundation Detailed Statement of Financial Activities

for the year ended 31 October 2020

Income and endowments from:
Donations and legacies
Total income and endowments
Expenditure on:
Charitable activities
Governance costs
Professional Fees
Bank Charges
Depreciation
Total of expenditure on charitable
activities
Total expenditure
Net gains on investments
Net expenditure
Net expenditure before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 3,003
1,324		 Unrestricted
funds
2020
£
52,202
52,202
52,202
52,214
52,214
900
311
456
1,667
53,881
53,881
(1,679)
(1,679)
(1,679)		 Total funds
2020
£
52,202
52,202
52,202
52,214
52,214
900
311
456
1,667
53,881
53,881
(1,679)
3,003
1,324
(1,679)
(1,679)		 Total funds
2019
£
49,645
49,645
49,645
48,441
48,441
900
113
484
1,497
49,938
49,938
(293)
(293)
(293)
3,296
3,003

Page 17