Believers, Generation Of Believers, Foundation Charity NO.. 1147951 Company NO: 05902003 Trustee's Report and Unaudited Accounts for 31/10/2022 Trustee5' Annual Report Statement Of Financial Activities Summary Income & Expenditure Account Balance Sheet Statement of Cash Flows Notes to the accounts 9-14 Detai led statement of financial activities 15 Independent Examiners Report 16
Trustees Annual Report The trustees. who are also dirertors of the tharity for the purp05e5 of the Companies Act 2006. present their report with the unaudited financial statements of the charity for the year ended 31 October 2022. REFERENCE AND ADMINISTRATIVE DAll5 Company No. 05902(rf)3 Ch•rlty No. 1147951 Ile¢lst•r•d Office Suites 7- 9 Birch House Birch Walk Off Fr35er Road Erith Kent DA8 IQX DSrectors and Trustees The Oirectors of the charitable company afe its Trusteés for the Pufposes of charity law. The followin8 Dirertors and Trusiees served during the year.. C. Falana K. Falana H. John50n l.K. Popoola Actountanis EBD ASSOCIATES 5A MARKET STRE EAST HAM E6 2RH OBJEcnvES AP4D AcllviTIES
Trustees Annual Report The purpose of the charity as set oul in its go¥ernina document...The main activrlies of the organisation ¢)ver the past year include promoting Christian worship. workshop5. and seminars ès well as conducting ourreach programmes to Increase awareness. For individual rnembers and the subsequent MmUnitIes. Tthe Foundation 15 now able to tarry out weekly Sunday Worship in addition to seminar5 znd Christ13n workshops that are inclJsive to all within the community. We are undoubtedly committed in workin8 Wlth not only our members but a150 across the community as the Foundaiion 8athers momentum in the essence of its work. Food 8ank The food bank has now become one of the mzin components of us for the Foundation. Initially it wa5 Set up to supply healthy eating io habits for members and the community. Due io the now lifting of restrictions due to the pandemic we have come to reco8nise that within the context of the community stricture and the unpredictable economic climate, Ihe affordability of food is becomin8 an increasin8 problern. To alleviate this issue within the community we have now incorporated food and household Pfoduct5 to ease the burden for those families thai have been suffering extreme hardship. This has proven extremelv succe55ful, and we have relied heavily from the 5UPPOrt of our members who contribute ttrelessly in supplyin8 food item5 and sypportin8 the Idea of the Food Bank. Pastoral Vtsitors Training Thi5 rernains as a vital cornponent ol the Foundatign. and we are pleased that we a now able to meet indivldually to 5UPPOrt members and those within the subsequent community. We are seekin8 in coniinually tryin8 to train our Pastoral Visiiors and we have Sourced 511PPOrt from other or8anisations in the form of basic listentn8 and counsellin8 skills so that we can continue to be effecti¥e to our members and ihose within the community sertor. Senior Citizen Luncheon Programme Thi5 pro8rammt allow5 Igr the senior members of the thurth and it5 mernbers wiihin the community to rneei onte week to embark on lunch together and more irnportanily io sociali5e with one another. With the restrictions now being lifted somewhai we are now able to meei again. This is an extremely important area ol work for us as the fallout from the recent pandemic was the impact thai this h85 had on the elderly members of our community. This has made ihem Increasingly more vulfttrable. We are also of the understandin8 that due to the current economic climate senior citizens are also suffering and are unable to sometime5 eat. We are now more than ever commttted to thi5 programme as we recosnise both its 518nificance and importance. Youth Development Group-ministry Children As we are now able to meet, we have reco8nised the 518nificance that the Int pandemic has had on our voung people. Although the Broup wa5 specifically devised from the increasin8 number of youn8 people within the Believer's Generatson5 of 8elievers' Foundation who unable to volce their thoughis opinion5 and idea5 Outside rhe context of their home5 and School. We hève now extended this to other yOLtn8 people within the community. This ha5 led us to reco8n15e that this proRramrne is a vital componeni not just to the Foundation but to the wider community Simply because there are now very limiied re50vrces that are available for our youn8 people. The local government fundin8 has been depleted and we a of ihe understanding that work around rnental health for young people have very long waiting li$. We have therefore 50uRht io work collaboratively with other organisations to bridge this gap in the fofrn of Individual counselling for those m05t Vulnerable a5 well as mentoring workshops. This is also In combination with our trained Yovth Worker who can run weekly sessions with a variety of attiwtie5 for young people. Page 3
Trustees Annual Report The Trustees are responsible for keeping proper accountin8 records that disclose with reasonable aecurary at any time the financial position of the charity and to enable them to ensure that the financial SteMentS comply with the Companies Act 2006. The Trustee5 are also responsible for safeguarding the assets of the charity and hence takin8 reasonable steps for the prevention and detection of fraud and other irregularities. The above report ha5 been prepared in accordance with the provisions applicable to companie5 subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP IFRS 1021. Signed on behalf of the board C. Falana Trustee 31 March 2023 Page 4
Statement of FSnan¢ial Activities for the year ended 31 October 2022 unTtricted Endowment lunds fund5 Total fvnd5 Total funds 2022 2022 2021 2022 Notes Income and Èndowmenls from.. Oornations and le8acies 55,036 55,036 54,026 Totsl 55,036 55,036 54,026 Empendlture on.. Charitable artivitie5 52.769 52.769 50.736 Total 52.769 52,769 50,736 Net gains on investment5 N•1 Income 2.267 2,267 3.290 Transfers between fund5 Net Income belor• oth•r 8alnslllou•sl 3.290 2.267 2,267 Othèr ¥alns and10sse5 Net movement In lund5 2.267 2,267 3,290 Reconclllatlon ol fvnds.. Total funds brought forward 4,616 4,616 1.325 Totsl funds carrl•d ft¥rward 2.267 6,883 4.615 Page 5
Summary In¢ome arbd Expendiiure kcoynt lorthe year ¢ndtd 31 Ortober 2012 1022 2011 Income 55.036 54.016 Gross IrKom• for th¢ 55,036 54,026 Expenditure 52.769 50,736 Total •xpendlturn lorth* ye•r Net Income before tax lor Lhe year 52,769 50,736 2,267 3,290 Net Inwm• lor thé 1,267 1,290 PaBe 6
Balance Shtet at 31 Ortober 2022 Company No. 05902003 Notes 2022 20ZI Flxed assets Tangible assets 1,629 1,629 1.986 1,986 Current assets Cash at bank and in hand 6,454 7,280 Credltors.. Amount fallin8 due within one year Net turrènt assets 11.2C*JI 5.254 14,6511 2,629 Total ass•ts less current Ilabiiiiles 6.883 4,615 Net assets exdydln8 pen54on amet or Il•blllty 6.883 4,615 Total n•t •55•ts 6.883 4,615 The funds of ihe charlty Re5trlcled lunds Endowment funds 4,616 4.616 4,616 4,616 Unrestrlrted funds General funds 2.267 2,267 Rqseryes Total fvnds 6,883 4,616 These accounts have bten prepared in accordance with the special provisions of Part IS of the Companies Act 2006 relating to small companie5. For the year ended 31 October 2022 the company was entitled to exemption under sertion 477 of the Companies Act 2006 relatin8 to small companies. The member5 have not required the company to obtain an audit in a(rdance with section 476 of the Companies Act 2006. The directors acknowledge their responsibillties lor tomplying with the requirements of the Companies Act 2006 with respect to accountin8 records and the preparation of accounts. Approved by Ehe board on 31 March 2023 And signed on its behalf by: C. Falana Trustee 31 March 2023 Page 7
Staternerrt of Casb lor the year ended 31 Ortober Z022 2022 2021 Cash Ilows from opeMln8 artIlle5 Nel incorne per Stattmert ol Financi•l Artl¥llles 2,267 3,2 Adlustrn•nts lor. Depreciation of property. plant and equiprnent 357 374 Nei ¥b pro¥lded by operatln8 arti¥i¢ies 2,614 3,664 Net tsh used In Inw4stlry •rtl¥ltfjes N•1 cash Irom lfjnan¢thi aal¥hl Net In¢reu• In E•sh •nd rsh equIlents 2,624 3,380 Caih and tsh equS¥aleMS at th• b•nn11vI olthe year 7,2 tssh nd e•sh •qU1¥al•r at th• •nd of1¥1 3.380 Compon¢nts oft*sh and ush •qufv•l•nts Cash and b•nk b•lan£es 6.454 7,280 7.280
Notes io the A((ourrts lorthe year ended 31 Ortob¢r 2022 l A(cj111 polld•5 Basls ol pr•piratlo The financial statemenis have been prepared in accordance wth Accounti and Reporting byCharitie5.' 5tarement of Recommended Prartice applicable to choritie5 preparin8 their accounts in accordan with the Financial Reporting standard applicawe in the UK and Republic of Ireland IFRS 1021 leffertive I January 20151 ICharitie5 SORP IFPS 10211. the FinarKial Reporting stshd•id applKable In the UK and Republic of Ireland IFRS 1021 and the Companies Art ?1. Chaw In b•sls of atCtyJnn8 or to prthous attounts There has been no ch3n8e to the at£ountin8 policies Ivaluation rulesand method of accountlnBI sin¢e last year and no ¢h•n8es have been made to accounis for previous year5. Fund •ttouffll Unrt5trirttO lunds These are available for use at Iht distreiion of the trustee5 in fUrther•re of the general objerts ol th¢ Chanty. The5t •re unrestricted lunds earrnarked by the trusiees lor particular purposes. These are unrestritted funds which include a revaluation re5erye rtpresenttn8 the re5¢aternent ol in¥estrneni assets at their fnaret v•lues. These are available lor use 5ubje¢t 10 r¢nriciions imposed by the dufior or rhroulh terrnsol an appeal. Oes18naied fund5 Revèluativn funds Re5trirted funds Intom• Recosnirion ol in¢¥me lfi¢ome is included In the StstemEni of Fifi•ncial ACtitIeS ISOFAI when the ¢h•rity becorne5 entitled to, virtually certain to receive. the in¢ome and the arnount of the income ¢an be rneasured wth sufficiefit reli•ty'lity. Income with related Where inwm¢ has related expenditure the ih¢omÈ and related expenditure is expenditure lerted 8r095 in the SOFA. Donations and le8aues Volvntary income re¢¢ived by way of8rants. donations •nd 8ift$ Is Included in the Ihe SOFA when rKei¥able and only when the Charity has unconditional eniitlernent to the income. Tax reclaims on Income from tax reclaims is included in the SoFAai the same tiff* as the donations and 8ift5 8iftldonation LO which it relate5. Donated services These are only included in ificome Iwiih an equivalent amount ift expenditure) wherÈ the benefit to the Charity is rea50n4bty quantifiable. meastsrable and material. Volunteer help The vèlue ol anyvolunieer help receryed is not induded In the accounts. Investment Income Thls Is Included In the account5 when re1Vable. Gainslllossesl on Thi5 include5 any 8ain or1055 resulting from rwluin8 Investments io market value revaluation of fixed at the end of rhe year. assets G4in5111osse51 on invesrrnent 355ets This indude5 any gain or1055 on the sale of inbtstments. Page 9
Notes to the Accounts Expenditure Reco8nition of expenditure Expendituie is recoenised on an accruals basis. Expenditure include5 any VAT which cannot be fully ered, and 15 reported as part of the expenditure to which it relate5. Expenditure on These comprise the costs a5s0cialed with attrarting voluntary income. fundraising r3i5ing funds tradin8 costs and investment management Costs. Expenditure on These comprise the c05t5 incurred by the Charity in the delivery of its activities and haritable activities service5 in the furtherance of its objects, includin8 the making of grants and 8overnance cost5. All grant expenditufe is accounted for on an artual paid basis plus an accrual for grant5 that have been approved by the trustees at the end of the year but not yet paid. Thesè include those costs associated with meeting the constitutional and statutory réquiremenis ol the Charity. including any auditlindependent examination fees, costs linked to the 5trategi¢ management of the Charity. together wilh a share of other administration costs. These are support costs not allocated to a particular artNity. Grants payable Governance costs oiher exptnditure Tamailon The charity is exempt from corporation lax on its charitable artivities. Frnthold Investment prop•rty Investment propertie5 art measufed initially at C05t and sub5equefttly at fair value at each balance Sheet date and are not depretiated. All gains or ISe$ are laken to the Statement ol Financial Activities as they arise. Stocks Stock is included at the lower of cost or net reali5ablt value. Oonated items of stock are recognlsed at fair value which 15 the amount the charity would have been willing to pay for the items on the open market. Trdd* and other d•btors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued ar the amount prepaid net of any trade discounts due. sh and cash equlvalents Cash and cash equivalents comprise cash at bank and on hand. demand deposits with bank5 and other short-term highly liquid Investmenis with ori8inal maturitie5 of three months or less and bank overdrafts. In the statement of financial position. bank overdrafts Hre shown within borrowin85 or current liabilities. In the Statement of Cash Flows. cash and cash equivalents are shown nei of bank overdrafts that are repayable on demand and form an intezral part of the company's cash management. Trade and other creditors Short term creditor5 are rrteasured at the trzn5action price. Other creditor5 and provisions are recognised where the charity has a present obligation re5ultinB 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 tan be measured or estimated reliably. Creditor5 and provisions are normally recogni5ed at their settlement amount after allowing for any trade discounts due. Page 10
Notes to the Accounts ReSeah and development f xpenditure on research and development is written off in the year in which it is incurred. Foreign currencies Monetary assets and liabilities denominated in CUrn(leS other than the functional currenry of the harity are translated at the rates ol exchan8e prevailin8 at ihe 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 occurretl. All exthan8e differences are a taken into account in arriving at net incomelexpenditure. Led assets Where the charity enters into a lease whith entails taking substantially all the ri5k5 and rewards of ownership of an a$5et, the lease Is treated as a finance lease. Leases which do not tran51er substantially all the risks and rewards of ownership to tharity are classified as operatin8 leases. A55ets held under finance leases are initially reco8ni5ed a5 asset5 of the charity at their fair value at the inception of the lease or, if lower, at the present value ol the minimum lease payments. The orrespondin8 liability to the lessor is Included In the balance Sheet date a5 a finance Itase obli8atioTr. Lease payments are apportioned between finance expenses and reduction of the lease obligation so a5 to achieve a constant faie of interest on the remainin8 balance of the liability. Finance expenses are recogni5ed immediately, unles5 they are diredly attributable to qualifying assets. in which case they are capita115ed In accofdan£e with the charity's policy or borrowin8 c05t5. Asset5 held under finance leases art depretiated in the same way as owned asset5. Optrating lease paymenis are reco8nised as an expense on a 5trai8ht-line basls over the lease terrn. In the event that lease incentives are reteived io enter into operating leases. Such intentives are reco8nised as a liability. The aggregate benefit of incentives is fecognised as a redurtion of rental expense on a strai8ht-line basis. Penslon ¢(Trsts The charity opefaies a defined contribution plan for its employees. A defined contribution plan is pension plan under which the Company pays fixed contribulion5 into a separate entity. Once the contributions have been paid the company ha5 no further payments oblieations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accrua15 in the balance sheet. The assets ol the plan are held separately from the company in independently administered lund5. Recelpt of donated goods. lacilit5 and servic All donated goods, facilities and services received are reco8nised within incomin8 resources and expenditure at an estimaie of the value to the charity- 2 Cornpany ststus The company 15 3 private cornpany limited by 8uarantee and ujnsequently doe5 not have share capital. Page 11
N¢)testo the 3 5tatEmErf dAnandalA(IhitlE5. ¥w fvnds fvnds Tot•lfvnds 2021 Z021 Inrom• •tyd•ndowffl•ntsfrorn.' Donations and legacie5 54,026 54,026 T•tsi 54.026 54,016 EXP•ndhu on.. Charitable arti¥lls ).736 50.736 T4x•I 50.736 50.736 N•1 IMom• 3.2 N•t Iorne b•lor• •tF 3,2Y) Oth•ri•lns •v4110sso5'. Nei mLwem•ftt In lunds 3,290 R•conclli•tl¢M ndS.. Tvtal lunds brou£hi forward Tot•1 luthdsu11b lonmrd 1.325 1,325 1.315 4.615 4 Incom• IroTh doth•tl•ns •nd ad•J Twl 7ot•l ioii 55.036 55.036 55.036 55.036 54.026 54,026 5 EMpqndltrJr• w ¢h•rttsbl• 4rttr4*1•1 T•tal 1022 Tot•1 ?oii EAptnditwe Dn chviitowe 51.122 51.121 49,378 Governontt ¢osts 8ank Charles Depreciation PFofe5skinal Fee 357 357 376 1.2 52.769 1,2LXS 52.769 50,736 6 siaff costs No tmployee ernolyments In exce55oI£W.L)>X Pale 12 12
Ie5 io th Accourits TangIb fixed assets C051 or revaluation At l NovembÈr 2021 At 31 October 2022 Depretlailon •nd Impalmient At l Novernber 2021 Depreciation charge for the year At 31 OrtobeT 2022 Net book values At 31 October 2022 At 31 October 2021 8 Credltprt.. mount5 fallin8 due within oneyear 6.138 6.138 6,138 6.138 4.152 4.152 357 357 4.509 1.629 1.986 1,629 1.986 1022 2021 cruals 1.2C 1.2 4.6SI 4,651 9 m0ment In funds In¢offllni Al>1 orfober IOZ2 R•souTces Mpend•d her November ylnsll•sse5 2021 Aestrkt•d fundi.. endowm•ni lunds.. 4,616 4,616 Totol 4.616 4.616 Unrnstrfrt•d fvnds: G•n•rl funds 55,036 152.7691 2.267 Total fvnds 10 Analysls of assets b¢een fund5 4.616 5S.036 152,7691 6,883 Unre5trided funds flestrlrted lunds Total Fixed assets Net £UTrent 3Sset5 1,629 1,629 5.254 6.883 5.254 5.254 1.629 Page 13
Notes to the Accounts 11 Reconciliation of net debt Atl At31 Novernber 0rt4ber 2022 2021 ash flow5 Cash and Cash equivalents 7.280 7,280 18261 18261 6,454 6.454 Net debt 7,280 18261 6,454 12 Related party d15(losur•s Controlllnoporty The cornpany 15 limited by 8uarantee and has no shafe capital.. thu5 no single party controls the companv. Page 14
Detalled Statement of Flnanclal Activities for thè ended 31 October 2022 Unrestriile d fvnds 2022 Total lunds 2022 Total funds 2022 2021 Income and endowments from: Donations and le8acies 55.036 SS.036 55.036 55.036 54,026 54.026 Total Income and endowments 55,036 55,036 54,026 Expendlture on.. Charitable activities 51.122 51,122 51.122 51,122 49,378 49.378 Governance costs Bank Char8es Depreciation Pfofe55ional Fee 90 82 3S7 357 376 1.2LYI 1,647 1.2LXI 1,647 1,358 Total ol eXPendre on ¢harltabl¢ actlvltl•s 52.769 52,769 50,736 Toial e¥pend*yre Net 8ains on investments 52.769 52.769 50,736 Net Incom• 2,267 2.267 3.290 Net Income belor• other 8aln5111055e51 Other Gains 2,267 2.267 3,290 Net mement In funds 2,267 2,267 3,290 Reconrlll•tion of funds: Total funds brought forward 4,616 4.616 1.325 Total funds carrled fonyard 2,267 4,616 6,883 4,615
D - Assoclates iA m2rket Strtt4 Road. E2St H2 Ixjndon, E6 2RH T- 020 8552 5559 Mubiie.. 07533931594 L.. ebdassoeias.PrVfess1Onals@IaIl.cOM Datr.. 30 April 2023 INDLPLNDL%I' EXAMINER'S REPORT TO TIIE TRUSTLES OTr" BELIEVERS. GENERATION OF BLLlbVLRS' TrOLNDAI'10N. W¢ hav¢ reported on the accounts of the Believers. GeneAtioD of Bclievcrs. Foundation for th¢ yw endcd 31. Octobcr 2022 which are set out on pag¢s S 15. Rmpeetivt reipon¥lblllilu of truitttl •nd Independent examlner -rhc charity's trusiees arc responsible for ihe prtparalion of thc accounts. Thc chariiy's trusiccs consider ihai an audil 15 not required for thi$ y¢aT accouni under s¢ciion 14412) of the charkry's Aci 2011 (the 2011 Acil and that art indepcndcnl cxaminalion 1$ needed-. It is our sponSibl)Ity lo.. examine the ac¢ourti$ under section 145 of the 2011 A¢t. to follow thc PrUl¢S laid down in General Direcuons wven by the Charity Commission$ under section 14515)Ibl of the 2011 A¢l'. and no examination on the tslLsiees' report to Stai¢ wh¢thcr poni¢ular mallers have come our anention B*$li of tbe IDdepend¢nl esamoner'i reporl our Lxamination wa5 carrlcd oui in a¥cordan¢c wilh thc (J¢ncr41 Direciions 8iv¢n by the Lhan"ly Commi55ioncr5. An ixaminaiion includes a rcvicw vfihe &ccountin8 rccords kcpi by thc chariiy and a ¢omparison of lh¢ acLuunis prcscntcd with th¢ und¢Tlying r¢¢ords. li also Includes cort5idcralion ofany malcrial unusual ilcms or di5¢1osur¢$ in Ihc accourtts, and scckin8 cxplanations from you •$ tTUSiCeS ¢on¢¢rning any of such matters. Th¢ pr(ureS undcrtak¢n do not provide all the evidence that would bc rcquircd in an audil and cons¢qucnily wc do not ¢XPTess an audit opinion on thc VLCW 8ivcn as to whcthcr the IoniS prcseni a 'truc and fair view. and the report is limiied to those mailers se¢ out in the statement bclow. IndepeDdcDt ¢x•mlner•' $ta¢¢m¢nt In ¢onnection with our examination. no mattcr com¢ lo our att¢ntion.' l. Which giv¢$ us r¢850nabl¢ Cause to believe ih8t any mtrIal misstst¢m¢ni in ihe requireTMIts'. al io ke¢p acrounting rccords in accordancc with scction 130 orth¢ 2011 Aci and b) to pr¢par¢ accoun which ac¢ords with the accounting records and comply wilh the accounting requirnets of thc 2011 Art have not been mct; or 2. lo which in our opinion, attention should be drawn in order lo cnable a proper understsnding of the accounts to b¢ reached. or Blessing Ddamulira FCCA For EBD Associates