THE COURAGE CENTRE
COMPANY LIMITED BY GUARANTEE
CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30[TH] JUNE 2023
COMPANY NUMBER: 08212434 CHARITY NUMBER: 1149419
THE COURAGE CENTRE Year ended 30[th] June 2023
TABLE OF CONTENTS
Board of Trustees' Report ................................................................................................ 1 Reference and Administrative Details .............................................................................. 4 Statement of Financial Activities ...................................................................................... 5 Balance Sheet.................................................................................................................... 6 Notes to the Financial Statements.................................................................................... 7
Page i
THE COURAGE CENTRE Year ended 30[th] June 2023
BOARD OF TRUSTEES' REPORT
The Trustees are pleased to present their report with unaudited financial statements for The Courage Centre (Company Registration No. 08212434, Charity Registration No. 1149419) for the year ended 30[th] June 2023.
Structure, Governance and Management
Organisational Structure
The organisation is a charitable company limited by guarantee, incorporated September 2012 and registered as a Charity in October 2012. The Courage Centre is a member of Kingsway International Christian Centre (KICC). The Charity is governed by its Memorandum and Articles of Association.
Corporate Governance
The Charity is governed by a board of trustees who have overall responsibility for overseeing the charity’s strategy and operations. The Trustees meet formally as and when required to review the operations and monitor the financial position of the charity.
Management
The day to day running of the church has been delegated to the resident Pastor, Mr Samuel Dagunduro, and a leadership team comprising all Ministers, Deacons and other persons that the Charity recognises as leaders of its church.
The Leadership report regularly to the Trustees on their assessment of risks and how they are managed, enabling the Trustees to review key risks inherent in the charity, and the system of control necessary to manage such risks.
Objectives and Activities
The main objective is the advancement of the Christian faith. The vision is to bring people to the knowledge of Christ and to fully equip them to live a Christian lifestyle.
The Trustees regularly review activities to ensure they are in accordance with the aims and objectives of the charity as contained in the Charity Commission Guidance on the Advancement of Religion for the Public Benefit.
The Ministers and Pastors look after the spiritual wellbeing of the members and conduct christening ceremonies, marriages and funerals.
Page 1
THE COURAGE CENTRE Year ended 30[th] June 2023
All Courage Centre activities are available to Christians and non-Christians, members and non-members alike; there is no restriction to attendance. The wider community have mainly attended services celebrating traditional Christian festivals including Easter, Christmas and New-Year's Eve services.
Achievements and Performance
The church has held regular meetings on Sundays and during the week, as well as through social media platforms. Members received counselling and mentoring, and were educated in the principles and doctrines of the Christian faith.
Financial Review
Financial Performance
The Charity recorded an operating surplus for the year of £9,356.
The total income this year was £38,084; and was made by members and organisations through tithes, offerings, donations and grants. Total expenditure in the year was £28,728.
Reserves Policy
The ministry is still recovering from the impact of the COVID pandemic. The church is working towards building its reserves.
Trustees Responsibilities Statement
The Trustees (also directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (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 charity and of the incoming resources and application of resources, including the income and expenditure of the charity.
Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity for that period.
In preparing these financial statements, the Trustees are required to:
Page 2
THE COURAGE CENTRE Year ended 30[th] June 2023
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities Statement of Recommended Practice;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departure disclosed and explained in the financial statements; and
-
prepare financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
This Trustees Report is approved by the Trustees and is signed on its behalf by:
Signed: O A Banwo
Mr Olumuyiwa Banwo - Trustee
Date: 26/04/2024
Page 3
THE COURAGE CENTRE Year ended 30[th] June 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees and Advisers
Founder, Visionary & Senior Pastor Reverend Matthew Ashimolowo
Trustees
Olawale Adebayo Olumuyiwa Banwo
Resident Pastor
Samuel Dagunduro
Registered Address
KICC Prayer City Buckmore Park Maidstone Road Chatham ME5 9QG
Bankers
Natwest Bank 501 Silbury Boulevard Milton Keynes MK9 3ER
Company number - 08212434 Charity number – 1149419
Page 4
THE COURAGE CENTRE Year ended 30[th] June 2023
STATEMENT OF FINANCIAL ACTIVITIES
THE COURAGE CENTRE COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 30 JUNE 2023
| Note INCOMING RESOURCES Voluntary Income 2 Other Income 3 TOTAL INCOMING RESOURCES RESOURCES EXPENDED Charitable activities 4 Grants to other charitable Causes/Orgns 5 TOTAL RESOURCES EXPENDED NET INCOMING RESOURCES FOR THE YEAR RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Funds £ 23,084 15,000 38,084 (27,623) (1,105) (28,728) 9,356 3,770 13,126 |
Restricted Funds £ - - - - - - - - - |
2022/23 Total Funds £ 23,084 15,000 38,084 (27,623) (1,105) |
2021/22 Total Funds £ 17,487 2,000 |
|---|---|---|---|---|
| 19,487 (34,913) (1,329) |
||||
| (28,728) | (36,242) | |||
| 9,356 3,770 13,126 |
(16,754) 20,524 |
|||
| 3,770 |
All income and expenditure derive from continuing activities
Page 5
THE COURAGE CENTRE Year ended 30[th] June 2023
BALANCE SHEET
| THE COURAGE CENTRE COMPANY LIMITED BY GUARANTEE BALANCE SHEET 30 June 2023 Note 2022/2023 £ £ FIXED ASSETS Tangible assets 6 - CURRENT ASSETS Debtors 7 - Cash at bank and in hand 13,126 13,126 CREDITORS: Amount falling due within one year - NET CURRENT ASSETS 13,126 TOTAL ASSETS LESS CURRENT LIABILITIES 13,126 CREDITORS: Amount falling due after more than one year - NET ASSETS 13,126 FUNDS Restricted income funds 8 - Unrestricted income funds 9 13,126 TOTAL FUNDS 13,126 |
2021/2022 £ - - 3,770 |
|---|---|
| 3,770 - 3,770 |
|
| 3,770 - |
|
| 3,770 | |
| - 3,770 |
|
| 3,770 |
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime.
Signed: O A Banwo
Mr Olumuyiwa Banwo - Trustee
The notes on pages 7 to 10 form part of these financial statements.
Page 6
THE COURAGE CENTRE Year ended 30[th] June 2023
NOTES TO THE FINANCIAL STATEMENTS
1 Accounting Policies
Basis of Accounting
The financial statements have been prepared in accordance with the second edition of the 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 2019, and with the Charities Act 2011, and with Companies Act 2006.
Incoming Resources
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Fund Accounting
Unrestricted funds can be used in accordance with charitable objectives at the discretion of the trustees. Restricted funds are funds which are to be used in accordance with specific instructions by donors. These funds have been set aside as reserves.
Resources Expended
All expenditure is included in the Statement of Financial Activities on an accrual basis, inclusive of VAT which cannot be recovered.
Resources expended have been classified under headings that aggregate all costs 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 or resources.
Support costs are those costs incurred directly in support of expenditure on the objectives of the charity.
Tangible Fixed Assets
Depreciation is calculated so as to write off the cost of an asset on a straight line basis over the useful economic life of the asset. All tangible asset costs have been written off.
Taxation
The charity is exempt from tax on its charitable activities.
Page 7
THE COURAGE CENTRE Year ended 30[th] June 2023
2 Voluntary Income
| Tithes & Offerings Donations & Grants Midweek/Welfare Offerings Transport Fund Building Fund Other Income Other charitable organisations |
Unrestricted £ 23,084 - - - - 23,084 Unrestricted £ 15,000 |
Restricted £ - - - - - - Restricted £ - |
30 Jun 2023 £ 23,084 - - - - 23,084 30 Jun 2023 £ 15,000 |
30 Jun 2022 £ 17,367 - 120 - - 17,487 30 Jun 2022 £ 2,000 |
|---|---|---|---|---|
3 Other Income
4 Charitable Activities
| Ministry Welfare Events Transport Support including rent |
30 Jun 2023 £ 2,790 - 840 - 23,993 27,623 |
30 Jun 2022 £ 4,321 3,370 368 1,646 25,207 |
|---|---|---|
| 34,913 |
5 Grants to other Charitable Causes/Organisations
30 Jun 2023 30 Jun 2022 £ £ KICC National Forum 1,105 1,329
Page 8
THE COURAGE CENTRE Year ended 30[th] June 2023
6 Tangible Fixed Assets
| Depreciation as at 1 July 2022 Charge for year As at 30 June 2023 Net Book Value As at 30 June 2023 Debtors Prepayments Other Debtors |
Plant & Equipment £ - - - - 30 Jun 2023 £ - - - |
Motor/ Vehicles £ - - - - 30 Jun 2022 £ - - - |
Total £ - - |
|---|---|---|---|
| - | |||
| - |
7 Debtors
8 Restricted Income Funds
| Balance at | Incoming | Outgoing | Balance at | |||||
|---|---|---|---|---|---|---|---|---|
| 1 July 2022 | Resources | Resources | 30 June 2023 | |||||
| £ | £ | £ | £ | |||||
| Reserve | - | - | - | - |
Page 9
THE COURAGE CENTRE Year ended 30[th] June 2023
9 Unrestricted Income Funds
| Balance at | Incoming | Outgoing | Balance at | |
|---|---|---|---|---|
| 1 July 2022 | Resources | Resources | 30 June 2023 | |
| £ | £ | £ | £ | |
| General Funds | 3,770 | 38,084 | (28,728) | 13,126 |
10 Staff Costs and Trustees' Remuneration
No remuneration and expenses have been paid during the year to the Trustees.
11 Staff numbers
The Church does not employ any staff. All activity is carried out by volunteers.
Page 10