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2024-10-31-accounts

Believers' Generations Of Believers' Foundation

Trustees' Report and Unaudited Accounts

31 October 2024

Believers' Generations Of Believers' Foundation Contents

Pages
Trustees'AnnualReport 1 to 3
IndependentExaminer'sReport 4
Statement of FinancialActivities 5
SummaryIncomeandExpenditure Account 6
BalanceSheet 7
Statement ofCashflows 8
Notesto the Accounts 9 to 14
DetailedStatement of FinancialActivities 15

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 2024.

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:

C. Falana

K. Falana

H. Johnson

I.K. Popoola

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 purpose of the charity as set out in its governing document.We at Believers for Generation are focused in promoting the Christian faith throughout the community. We outline a plethora of programmes in our Outreach to the community including empowerment seminars and Christian worship. We are working in partnership with other charities and faith organisations to become inclusive within the context of the community. This enables us to be effective to the individuals within the immediate and surrounding community.

Food Bank: The food bank is an integral part of the Believers of Believers Foundation. The focus of this was initially to encourage health eating habits within the community due to the high ratio of obesity, high blood pressure and diabetes. This has now had to be altered somewhat due to the current socio- economic conditions. Individuals and families are now struggling financially and so we are continuing in our efforts to meet the demands for food and household items for those who are experiencing hardship. The demand for this has increased significantly and we are working to meet the demands.

Pastoral Visitors Training: This continues to be 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 for the elderly continues to be in great demand and we have had to increase our input within this area of work. We are continuing to train our pastoral visitors and volunteering Staff so that we can effectively meet the demands and challenges that are currently facing the community.

Senior Citizen Luncheon Programme: This programme allows for the senior members of the church and its members within the community to meet weekly to embark on lunch twice weekly more importantly to socialise with one another. This is an extremely important area of work given that there is now less money being available from the local authority for the work with the elderly. This is now an important and necessary service that we provide

Youth Development Group-Ministry Children:

The work of the children and young people is an important aspect of our work. Children and young people are often forgotten however we see them as the future of the community. Very often the voices of children and young people are often forgotten however with our dedicated programmes in partnership with other charitable organisations our aim is to empower children and young people with both self-esteem and confidence therefore making them effective members of their immediate communities.

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

C. Falana

Trustee

31 March 2025

Page 3

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 2024.

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:

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 2025

Page 4

Believers' Generations Of Believers' Foundation

Statement of Financial Activities

for the year ended 31 October 2024

for the year ended 31 October 2024
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
2024
£
50,708		 Totalfunds
2024
£
50,708		 Totalfunds
2023
£
56,959
50,708
50,439		 50,708
50,439		 56,959
55,258
50,439
-		 50,439
-		 55,258
-
269
-		 269
-		 1,701
-
269 269 1,701
269
8,584		 269
8,584		 1,701
6,883
8,853 8,853 8,584

Page 5

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

for the year ended 31 October 2024

Income
Gross incomefor the year
Expenditure
Totalexpenditurefor the year
Netincome before taxfor the year
Netincomefor the year		 2024
£
50,708
50,708
50,439
50,439
269
269		 2023
£
56,959
56,959
55,258
55,258
1,701
1,701

Page 6

Believers' Generations Of Believers' Foundation Balance Sheet

at 31 October 2024

at 31 October 2024
Company No.
05902003
Notes
2024
£
Fixed assets
Tangibleassets
7
1,811
1,811
Current assets
Cashat bankandin hand
9,742
9,742
Creditors: Amountfallingdue within one year
8
(2,700)
Netcurrent assets
7,042
Totalassets lesscurrentliabilities
8,853
Net assetsexcludingpension asset orliability
8,853
Totalnet assets
8,853
Thefundsofthecharity
Restrictedfunds
9
Unrestrictedfunds
9
Generalfunds
8,853
8,853
Reserves
9
Totalfunds
8,853		 2023
£
2,208
2,208
7,576
7,576
(1,200)
6,376
8,584
8,584
8,584
8,584
8,584
8,584

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 2024 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 2025

And signed on its behalf by:

C. Falana

Trustee

31 March 2025

Page 7

Believers' Generations Of Believers' Foundation Statement of Cash flows

for the year ended 31 October 2024

Cashflowsfrom operatingactivities
Netincome perStatement ofFinancialActivities
Adjustmentsfor:
Depreciation ofproperty,plantand equipment
Increasein tradeand other payables
Netcash provided by operatingactivities
Netcash usedininvestingactivities
Netcashfromfinancingactivities
Netincreaseincash andcash equivalents
Cash andcash equivalentsat the beginningofthe year
Cash andcash equivalentsat the end ofthe year
Componentsofcash andcash equivalents
Cashand bankbalances		 2024
£
269
397
1,500
2,166
-
-
2,166
7,576
9,742
9,742
9,742		 2023
£
1,701
485
-
2,186
(1,064)
-
1,122
6,454
7,576
7,576
7,576

Page 8

Believers' Generations Of Believers' Foundation Notes to the Accounts

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

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

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 9

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 10

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 11

Believers' Generations Of Believers' Foundation Notes to the Accounts

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
£
50,708
50,708
Unrestricted
£
48,452
90
397
1,500
50,439		 Unrestricted
funds
2023
£
56,959
56,959
55,258
55,258
1,701
1,701
1,701
6,883
8,584
Total
2024
£
50,708
50,708
Total
2024
£
48,452
90
397
1,500
50,439		 Totalfunds
2023
£
56,959
56,959
55,258
55,258
1,701
1,701
1,701
6,883
8,584
Total
2023
£
56,959
56,959
Total
2023
£
53,491
82
485
1,200
55,258

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

Page 12

Believers' Generations Of Believers' Foundation Notes to the Accounts

7
Tangiblefixed assets
Cost or revaluation
At 1 November 2023
At 31 October 2024
Depreciation and
impairment
At 1 November 2023
Depreciationchargefor the
year
At 31 October 2024
Net bookvalues
At 31 October 2024
At 31 October 2023
8
Creditors:
amountsfallingdue within one year
Accruals
9
Movementinfunds
Restrictedfunds:
Unrestrictedfunds:
Generalfunds
Totalfunds
10 Analysisofnet assetsbetweenfunds
Fixedassets
Netcurrentassets		 At 1
November
2023
8,584
8,584		 2024
£
2,700
2,700
Incoming
resources
(including
other
gains/losses
)
£
50,708
50,708		 £
7,202
7,202
4,994
397
5,391
1,811
2,208
Resources
expended
£
(50,439)
(50,439)
Unrestricted
funds
£
1,811
7,042
8,853		 £
7,202
7,202
4,994
397
5,391
1,811
2,208
2023
£
1,200
1,200
At 31
October
2024
£
8,853
8,853
Total
£
1,811
7,042
8,853

Page 13

Believers' Generations Of Believers' Foundation Notes to the Accounts

11 Reconciliation of net debt

Reconciliation ofnet debt
Cashandcash equivalents
Net debt		 At 1
November
2023
£		 Cashflows
£		 At 31
October
2024
£
7,576 2,166 9,742
7,576
7,576		 2,166
2,166		 9,742
9,742

12 Related party disclosures

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

Page 14

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

for the year ended 31 October 2024

for the year ended 31 October 2024
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
2024
£
50,708
50,708
50,708
48,452
48,452
90
397
1,500
1,987
50,439
50,439
-
269
269
-
269
8,584
8,853		 Totalfunds
2024
£
50,708
50,708
50,708
48,452
48,452
90
397
1,500
1,987
50,439
50,439
-
269
269
-
269
8,584
8,853		 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

Page 15