Believers' Generations Of Believers' Foundation
Trustees' Report and Unaudited Accounts
31 October 2023
Believers' Generations Of Believers' Foundation Contents
| Pages | ||
|---|---|---|
| Trustees'AnnualReport | 2 to 4 | |
| Statement of FinancialActivities | 6 | |
| SummaryIncomeandExpenditure Account | 7 | |
| BalanceSheet | 8 | |
| Statement ofCashflows | 9 | |
| Notesto the Accounts | 10 to | 15 |
| DetailedStatement of FinancialActivities | 16 | to |
Page 1
Believers' Generations 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 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 05902003
Charity No. 1147951
Registered Office
Suite 7 - 9 Birch House
Birch Walk
Off Fraser Road
Erith Kent DA8 1QX
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:
Accountants
EBD Associates 5A Market Street
East Ham
London E6 2RH
OBJECTIVES AND ACTIVITIES
Page 2
Believers' Generations Of Believers' Foundation Trustees Annual Report
The main activities undertaken in relation to those purposes...The main activities of the organisation over the past year include promoting Christian worship, workshops, and seminars as well as conducting outreach programmes to increase awareness for individuals that are in the community. The Foundation continues to carry out workshops and seminars and in addition Sunday Worship and Christian workshops that are inclusive to all within the community. We are committed to working with other organisations across the community to provide effective service to those in the community Food Bank: The food bank has now become one of the main components of us for the Foundation. Initially it was set up to supply healthy eating to habits for members and the community. Due to the current economic climate, we have noticed a marked increase for our services. To assist in this, we have now incorporated food and household products to ease the burden for those families that have been suffering extreme hardship. This has proven extremely successful due in part to the dedication and support amongst our supporters and members.
Pastoral Visitors Training: This remains as a vital component of the Foundation, and we are pleased that we are now able to meet individually to support members and those within the subsequent community. Our Day Care centre for the elderly is in great demand and we are seeking to expanding our services within this area of work. We are continuing to train our Pastoral Visitors and have sourced support from other organisations in the form of basic listening and counselling skills so that we can continue to be effective to our members and those within the community sector.
Senior Citizen Luncheon Programme: This programme allows for the senior members of the church and its members within the community to meet once week to embark on lunch together and more importantly to socialise with one another. With the restrictions now being lifted somewhat we are now able to meet again. This is an extremely important area of work for us as the fallout from the recent pandemic was the impact that this has had on the elderly members of our community. This has made them increasingly more vulnerable. We are also of the understanding that due to the current economic climate senior citizens are also suffering and are unable to sometimes eat. We are now more than ever committed to this programme as we recognise both its significance and importance.
Youth Development Group-Ministry Children: As we are now able to meet, we have recognised the significance that the recent pandemic has had on our young people. Although the group was specifically devised from the increasing number of young people within the Believer's Generations of Believers’ Foundation who unable to voice their thoughts opinions and ideas outside the context of their homes and school. We have now extended this to other young people within the community. This has led us to recognise that this programme is a vital component not just to the Foundation but to the wider community simply because there are now very limited resources that are available for our children and young people. The local government funding has been depleted and we are of the understanding that work around mental health for young people have very long waiting lists. We have therefore sought to work collaboratively with other organisations to bridge this gap in the form of Individual counselling for those most vulnerable as well as mentoring This is also done in combination with our trained Youth Worker who can run weekly sessions with a variety of activities for young people.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
Page 3
Believers' Generations Of Believers' Foundation Trustees Annual Report
C. Falana
Trustee 31 March 2024
Page 4
Believers' Generations Of Believers' Foundation
Independent Examiners Report
Independent Examiner's Report to the trustees of Believers' Generations Of Believers' Foundation
I report to the charity trustees on my examination of the financial statements of Believers' Generations Of Believers' Foundation for the year ended 31 October 2023.
Responsibilities and basis of report
As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements 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 financial statements 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(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
EBD Associates 5A Market Sarket Srket Sket Set S Street East Ham
5A Market Sarket Srket Sket Set S Street
London
E6 2RH 31 March 2024
Page 5
Believers' Generations Of Believers' Foundation
Statement of Financial Activities
for the year ended 31 October 2023
| for the year ended 31 October 2023 Believers'GenerationsOfBelievers'Foundation Statement ofFinancialActivities |
|||
|---|---|---|---|
| Notes Income and endowments from: Donationsandlegacies 4 Total Expenditure on: Charitableactivities 5 Total Netgainsoninvestments Netincome Transfersbetweenfunds Netincome before other gains/(losses) Othergainsandlosses Net movementinfunds Reconciliation of funds: Totalfundsbroughtforward Totalfundscarriedforward |
Unrestricted funds 2023 £ 56,959 |
Totalfunds 2023 £ 56,959 |
Totalfunds 2022 £ 55,036 |
| 56,959 55,258 |
56,959 55,258 |
55,036 52,769 |
|
| 55,258 - |
55,258 - |
52,769 - |
|
| 1,701 - |
1,701 - |
2,267 - |
|
| 1,701 | 1,701 | 2,267 | |
| 1,701 6,883 |
1,701 6,883 |
2,267 4,616 |
|
| 8,584 | 8,584 | 6,883 |
Page 6
Believers' Generations Of Believers' Foundation Summary Income and Expenditure Account
for the year ended 31 October 2023
| Income Gross incomefor the year Expenditure Totalexpenditurefor the year Netincome/(expenditure)before tax for the year Netincome /(expenditure)for the year |
2023 £ 56,959 56,959 55,258 55,258 1,701 1,701 |
2022 £ (55,036) |
|---|---|---|
| (55,036) | ||
| 52,769 | ||
| 52,769 | ||
| (107,805) | ||
| (107,805) |
Page 7
Believers' Generations Of Believers' Foundation Balance Sheet
at 31 October 2023
| at 31 October 2023 Believers'GenerationsOfBelievers'Foundation BalanceSheet |
|
|---|---|
| Company No. 05902003 Notes 2023 £ Fixed assets Tangibleassets 7 2,208 2,208 Current assets Cashat bankandin hand 7,576 7,576 Creditors: Amountfallingdue within one year 8 (1,200) Netcurrent assets 6,376 Totalassets lesscurrentliabilities 8,584 Net assetsexcludingpension asset orliability 8,584 Totalnet assets 8,584 Thefundsofthecharity Restrictedfunds 9 Unrestrictedfunds 9 Generalfunds 8,584 8,584 Reserves 9 Totalfunds 8,584 |
2022 £ 1,629 |
| 1,629 6,454 |
|
| 6,454 (1,200) |
|
| 5,254 6,883 |
|
| 6,883 | |
| 6,883 | |
| 6,883 | |
| 6,883 | |
| 6,883 |
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 2023 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 March 2024
And signed on its behalf by:
C. Falana
Trustee
31 March 2024
Page 8
Believers' Generations Of Believers' Foundation Statement of Cash flows
for the year ended 31 October 2023
| Cashflowsfrom operatingactivities Netincome/(expenditure)perStatement ofFinancialActivities Adjustmentsfor: Depreciation ofproperty,plantand equipment Netcash provided by/(usedin)operatingactivities Cashflowsfrominvestingactivities Paymentsfor property,plantand equipment Netcash usedininvestingactivities Netcashfromfinancingactivities Netincrease/(decrease)incash andcash equivalents Cash andcash equivalentsat the beginningofthe year Cash andcash equivalentsat the end ofthe year Componentsofcash andcash equivalents Cashand bankbalances |
2023 £ 1,701 485 2,186 (1,064) (1,064) - 1,122 6,454 7,576 7,576 7,576 |
2022 £ (107,805) 357 |
|---|---|---|
| (107,448) - |
||
| - | ||
| - | ||
| (107,448) | ||
| - | ||
| (107,448) | ||
| 6,454 | ||
| 6,454 |
Page 9
Believers' Generations Of Believers' Foundation Notes to the Accounts
-
for the year ended 31 October 2023
-
1 Accounting policies
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 relates. 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 investments. investment assets
Page 10
Believers' Generations 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 activities.
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.
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.
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.
Page 11
Believers' Generations Of Believers' Foundation Notes to the Accounts
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 liability. 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 obligations. 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.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 12
Believers' Generations Of Believers' Foundation Notes to the Accounts
- 3 Statement of Financial Activities - prior year
| 3 Statement ofFinancialActivities-prior year |
|||
|---|---|---|---|
| Income and endowmentsfrom: Donationsandlegacies Total Expenditure on: Charitableactivities Total Netincome Netincome before other gains/(losses) Othergainsandlosses: Net movementinfunds Reconciliation of funds: Totalfundsbroughtforward Totalfundscarriedforward 4 Incomefrom donationsandlegacies 5 Expenditure oncharitable activities Expenditureoncharitable activities Governancecosts |
Unrestricted £ 56,959 56,959 Unrestricted £ 53,491 82 485 1,200 55,258 |
Unrestricted funds 2022 £ (55,036) (55,036) 52,769 52,769 (107,805) (107,805) (107,805) (4,616) (112,421) Total 2023 £ 56,959 56,959 Total 2023 £ 53,491 82 485 1,200 55,258 |
Totalfunds 2022 £ (55,036) |
| (55,036) 52,769 |
|||
| 52,769 | |||
| (107,805) | |||
| (107,805) | |||
| (107,805) (4,616) |
|||
| (112,421) | |||
| Total 2022 £ 55,036 |
|||
| 55,036 | |||
| Total 2022 £ 51,122 90 357 1,200 |
|||
| 52,769 |
6 Staff costs
No employee received emoluments in excess of £60,000.
Page 13
Believers' Generations Of Believers' Foundation Notes to the Accounts
- 7 Tangible fixed assets
| 7 Tangiblefixed assets |
||||
|---|---|---|---|---|
| Cost or revaluation At 1 November 2022 Additions At 31 October 2023 Depreciation and impairment At 1 November 2022 Depreciationchargefor the year At 31 October 2023 Net bookvalues At 31 October 2023 At 31 October 2022 8 Creditors: amountsfallingdue within one year Accruals 9 Movementinfunds Restrictedfunds: Unrestrictedfunds: Generalfunds Totalfunds 10 Analysisofnet assetsbetweenfunds Fixedassets Netcurrentassets |
At 1 November 2022 6,883 6,883 |
2023 £ 1,200 1,200 Incoming resources (including other gains/losses ) £ 56,959 56,959 |
£ 6,138 1,064 7,202 4,509 485 4,994 2,208 1,629 Resources expended £ (55,258) (55,258) Unrestricted funds £ 2,208 6,376 8,584 |
£ 6,138 1,064 |
| 7,202 | ||||
| 4,509 485 |
||||
| 4,994 | ||||
| 2,208 | ||||
| 1,629 | ||||
| 2022 £ 1,200 |
||||
| 1,200 | ||||
| At 31 October 2023 £ 8,584 |
||||
| 8,584 | ||||
| Total £ 2,208 6,376 |
||||
| 8,584 |
Page 14
Believers' Generations Of Believers' Foundation Notes to the Accounts
11 Reconciliation of net debt
| Reconciliation ofnet debt evers'GenerationsOfBelievers'Foundation esto the Accounts |
|||
|---|---|---|---|
| Cashandcash equivalents Net debt |
At 1 November 2022 £ |
Cashflows £ |
At 31 October 2023 £ |
| 6,454 | 1,122 | 7,576 | |
| 6,454 6,454 |
1,122 1,122 |
7,576 | |
| 7,576 |
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 15
Believers' Generations Of Believers' Foundation Detailed Statement of Financial Activities
for the year ended 31 October 2023
| for the year ended 31 October 2023 Believers'GenerationsOfBelievers'Foundation DetailedStatement ofFinancialActivities |
|||
|---|---|---|---|
| Income and endowmentsfrom: Donationsandlegacies Total income and endowments Expenditure on: Charitableactivities Governancecosts Totalofexpenditure oncharitable activities Totalexpenditure Netgainsoninvestments Netincome Netincome before other gains/(losses) Other Gains Net movementinfunds Reconciliation of funds: Totalfundsbroughtforward Totalfundscarriedforward |
Unrestricted funds 2023 £ 56,959 56,959 56,959 53,491 53,491 82 485 1,200 1,767 55,258 55,258 - 1,701 1,701 - 1,701 6,883 8,584 |
Totalfunds 2023 £ 56,959 56,959 56,959 53,491 53,491 82 485 1,200 1,767 55,258 55,258 - 1,701 1,701 - 1,701 6,883 8,584 |
Totalfunds 2022 £ 55,036 |
| 55,036 | |||
| 55,036 51,122 |
|||
| 51,122 | |||
| 90 357 1,200 |
|||
| 1,647 | |||
| 52,769 52,769 - |
|||
| 2,267 | |||
| 2,267 - |
|||
| 2,267 | |||
| 4,616 | |||
| 6,883 |
Page 16